The global granular polytetrafluoroethylene (PTFE) market size is expected to gain momentum owing to the rising demand over fine powder and dispersion during the forecast period. This information is published by Fortune Business Insights™ in an upcoming report, titled, “Granular Polytetrafluoroethylene (PTFE) Market, 2022-2029.” It is a fluoropolymer made from fluorine atoms and carbon. It is produced by breaking down coarse particles which are obtained by suspension polymerization. It is used for molding different kinds of stock shapes such as tubes, roads, and sheets. It provides various beneficial properties such as adhesion, electrical properties, excellent chemical resistance, low-temperature toughness, high-temperature performance, and flame resistance. It is used in a wide range of applications such as chemical & industrial processing, electronics & electrical, automotive & aerospace, and consumer goods applications.
Detrimental Impact of Covid-19 on Chemical Industry
COVID-19 had a negative impact on the market in 2020. The demand for granular polytetrafluoroethylene (PTFE) has been harmed due to the supply chain disruption. The building industry has been severely damaged by the economic situation in most countries, but demand for electronics items such as laptops, mobile phones, kitchen appliances, and other products has surged, influencing PTFE demand in the coming years.
The Russia-Ukraine war could change the market dynamics of Europe forever. The standoff has revived the predicament situation of the Cold War and pushed Europe to the brink of a major military conflict. The Russian aggression in Ukraine has redefined the global landscape in terms of business. As the global market was recuperating from the havoc wreaked by the COVID-19 pandemic, the Russia-Ukraine war has made several industry stakeholders skeptical.
By application, the market is segmented into chemical & industrial processing, electronics & electrical, automotive & aerospace, and consumer goods applications, and others. On the basis of geography, the market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
What does the Report Offer?
The report for granular polytetrafluoroethylene (PTFE) offers integrated information on the key drivers, constraints, and opportunities driving industry growth. The research goes on to generate data volume by component, end consumer, and demographic.
Drivers & Restraints-
Increasing Demand in Various Applications to Stimulate Growth
The global granular polytetrafluoroethylene (PTFE) market growth is expected to grow due to the increasing demand in various applications during the projected period. Granular, dispersion, fine powder, and micronized polytetrafluoroethylene are the several types of polytetrafluoroethylene. Its popularity is due to its advantageous features, such as low coefficient of friction, and water repellency. This further distinguishes it as an excellent and preferred option over fine powder and micronized forms. Its chemical inertness and high temperature performance properties also contribute to its growing popularity in the automotive and aerospace industries. Therefore, market expansion will be fueled by increased demand.
Increasing Adoption in Chemical & industrial Applications to Promote Growth in Asia Pacific
Asia Pacific is expected to hold the largest global granular polytetrafluoroethylene (PTFE) market share during the forecast period. This is due to increasing adoption of the product in chemical & industrial applications is expected to drive the market forward.
North America is expected to have a sizable share of the market. The rapid growth in the electronics industry in the US, Mexico, and Canada are the leading countries in the region.
Manufacturers Focus on R&D Investments to Strengthen their Position
Because the market is defined by the presence of a significant number of global and regional producers, there is fierce competition among granular polytetrafluoroethylene (PTFE) manufacturers. To increase their market position, these organizations often focus on various business tactics such as partnerships, product development, agreements, technological collaborations, and capacity expansions.
November 2019: 3M debuted 3D printed PTFE At Formnext. This product innovation will aid in the production of complex geometries and fine features of the product, which are difficult to achieve using traditional manufacturing methods.
List of Key Players Profiled in the Global Market for Granular Polytetrafluoroethylene (PTFE):
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