Polytetrafluoroethylene (PTFE) is a synthetic fluoropolymer of tetrafluoroethylene, with high molecular weight consisting of carbon and fluorine. It is also known as teflon, and is widely used for various purposes such as coating of cookware, as lubricants to reduce friction, etc.
Increasing adoption of polytetrafluoroethylene in chemical industry and industrial processing is a major factor driving growth of the global polytetrafluoroethylene market. In addition, increasing demand from healthcare, electronics and electrical, automotive, and cookware industries is another factor propelling growth of the target market over the forecast period. High product price is a major factor restraining growth of the global polytetrafluoroethylene market.
The global market is segmented on the basis of product type, end-use industry, and region. On the basis of product type, the global market is segmented into granular, micro-powder, fine-powder, and others. The others segment includes dispersion and liquid. The micro-powder segment is expected to witness highest growth in the global market over the next 10 years.
On the basis of end-use industry, the global market is segmented into chemical and industrial processing, electronics and electrical, automotive & transportation, and others. The others segment includes cookware, construction, textiles, etc. The chemical and industrial processing segment is expected to witness highest growth in terms of revenue in the global market over the forecast period.
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On the basis of region, the global polytetrafluoroethylene market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in Asia Pacific accounts for highest share in terms of revenue in the global market. The North America market is expected to witness significant growth in the global market over the next 10 years, owing to increasing demand from chemical and automotive industries.
Some of the key players in the global market include 3M Company, The Chemours Company, AGC Chemicals Americas, Inc., Arkema SA, DAIKIN INDUSTRIES, Ltd, DuPont, Asahi Glass Co., Ltd., Gujarat Fluorochemicals Ltd., HaloPolymer, Zhejiang Juhua Co., Ltd., and Solvay SA.