Polytetrafluoroethylene, commonly known as PTFF, is a type of synthetic fluoropolymer. PTFF is known for its numerous applications, which make it a commercially and industrially profitable product. Non-stick coating is the most popular application of Polytetrafluoroethylene, which makes it well-known within the cookware manufacturing industry as well as consumers. Global PTFF market is strongly driven by rising demand in the application segment. Raging demand from developing countries is also crucial for the rise in demand in the market. As a result of all these factors, the market is set to make steady growth in terms of global presence, demand and revenue.
Scope of Research in PTFF Industry
In order to understand the basic reasons for demand and challenges in the industry, experts have segmented the global PTFF market into different segments. These segments cover all the vital segments of the industry including the forms, applications, deployment across different industries, and demand within different geographic regions. The market for Polytetrafluoroethylene is majorly segmented based on the different forms of these products. These forms include fine powder, molded or granular powder, micronized and aqueous dispersion.
Applications of the aforementioned Polytetrafluoroethylene range from coatings, industrial goods, filled PTFF, and others. Major end user industries deploying these products include food and household, chemical processing, medical, textile, construction, mechanical, electronics, and so on. The market is geographically divided into various key regions including Asia pacific, Europe, North America, and rest of the world. Based on the countries, the industry is categorized into Japan, China, India, South Korea, Germany, Italy, France, Brazil, and United States of America.
For many years, industrial goods were considered to be the only dominating segment in the PTFF market. This segment covered around 49% of the overall market share at the start of research, which is in 2012. However, rising demand for different types of Polytetrafluoroethylene including expanded and modified PTFF created upsurge in demand for these products across different industries. Rising demand and innovative applications play key role in the current rate of growth for the Polytetrafluoroethylene market. Experts suggest the Polytetrafluoroethylene industry to grow at steady CAGR in near future.
According to the market research reports, PTFF market is poised to grow at an estimated compound annual growth rate of over 5% from 2013 to 2018. At the end of the forecasting period, the market is set to reach $2,114.7 million by 2018. Based on the industry segments, automotive segment is expected to be the fastest growing industry. Geographically, the market is expected to be dominated by Asia Pacific, which is currently the largest consumer of PTFF.