The global polytetrafluoroethylene (PTFE) market has been anticipated by Transparency Market Research (TMR) to bring large-scale vendors to the fore while bearing a highly concentrated nature. Although limited in number, small and medium-sized manufacturers could look to parade their presence in the global PTFE market. Leading companies Asahi Glass Co., Ltd., The Chemours Company, Daikin Industries, Solvay, and 3M are evaluated to have taken possession of a more than 62.0% cumulative share in the global PTFE market in 2015.
With a view to secure a commanding position in the global PTFE market, most players have been prophesied to considerably concentrate on strategies such as new product development, exploration of new regions, and expansion of current manufacturing sites. As a result, players exhibiting dominance in the global PTFE market could hold an extensive regional footprint as a common aspect. Companies penetrating untapped regions of the global PTFE market have been envisaged to welcome significant sales prospects, which could be an ineluctable contribution toward their individual growth.
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The revenue valuation of the global PTFE market which stood at a US$3.48 bn in 2015 has been foretold to be improved to US$5.18 bn by 2024 at a 4.6% CAGR for the forecast period 2016–2024. In 2015, micro powder held a larger share of well above 30.0% in the global PTFE market. Expected to showcase an unwavering lead in the global PTFE market until the final forecast year, Asia Pacific was a clear winner in 2015 holding an over 44.0% share in its account.
Developments in Cookware Sector Birth Ample Applications
The ballooning demand for non-stick coatings in the cookware industry has been envisioned to offer some profit-making business opportunities for companies operating in the world PTFE market. Besides this, the world PTFE market could gain a telling impetus from factors such as changing food habits, easy lifestyle creating a willingness amongst consumers to shell out more on PTFE products because of their excellent properties, and urbanization. With an increase in the number of applications on account of the advancement in the cookware industry, more opportunities have been foreseen to take shape in the world PTFE market.
Employed in low-cost applications, polyethylene could be substituted by PTFE due to its superior dielectric properties which make it a quintessential insulation material for cable and connector assemblies.
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Unstable Characteristic of Raw Material Prices Hampers Demand
Wobbly prices of raw materials such as hydrogen fluoride derived from calcium fluorite a.k.a. fluorspar have been predicted to create obstacles in the international PTFE market. In order to cement the dominance of China, the government has enforced some tight export restrictions. This has created a demand and supply gap in the international PTFE market. Strict laws pertaining to the use of perfluorooctanoic acid (PFOA) could play an antagonistic role in the international PTFE market. Notwithstanding the fact that PFOA is not engaged by PTFE, there could be some traces which have been projected to slow down the demand in the international PTFE market.
However, owing to the aforementioned properties of PTFE, its frequency of application could experience an upward growth trend as more countries worldwide upgrade current grids to smart grid systems. This has been forecasted to bode well for the international PTFE market. Furthermore, the application of PTFE in the automobile industry is extremely valuable as it is employed as a lining material for manufacturing important car components such as airbrakes, hydraulic systems, and hoses. Moreover, the manufacture of lightweight vehicles has elevated tellingly on account of their high performance and fuel-efficiency advantages. All of these factors could create lucrative opportunities in the international PTFE market.
The global PTFE market has been segmented as presented below:
Global Polytetrafluoroethylene (PTFE) Market by Product
Dispersions and Liquids
Global Polytetrafluoroethylene (PTFE) Market by Application
Industrial and Chemical Processing
Electrical and Electronics
Cookware, Building and Construction, and Medical
The information presented in this review is based on a TMR report, titled, “Polytetrafluoroethylene (PTFE) Market (Product – Granular, Fine Powder, Micro Powder, and Dispersions and Liquids; Application – Industrial and Chemical Processing, Automotive, Electrical and Electronics, and Cookware, Building and Construction, and Medical) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024.”