PTFE Market (Polytetrafluoroethylene) Will Hit USD 6,440.0 Million by 2020 Grand View Research Latest reports Says
(PRWEB) April 23, 2014 -- Global PTFE sales were estimated at USD 3,465.0 million in 2012, and are expected to reach USD 6,440.0 million by 2020, growing at a CAGR of 8.1% from 2013 to 2020, according to new Market Research Report recently published by Grand View Research, which also estimates global PTFE consumption to reach 524.1 kilo tons by 2020.
The growing market for non-stick cookware, which uses PTFE, widely in Dupont’s Teflon form is expected to continue to be a stable growth avenue for market participants. Additionally, a surge in coating demand for wires and cables and the global trend in automotive weight reduction is also expected to provide multiple growth avenues to the PTFE industry. Volatile fluorspar supply and environmental concerns regarding Perfluorooctanoic acid (PFOA) content are expected to be roadblocks for PTFE manufacturers over the next six years.
The report “Polytetrafluoroethylene (PTFE) Industry Trends And Market Segment Forecasts To 2020,” is available now to Grand View Research customers at http://www.grandviewresearch.com/industry-analysis/Polytetrafluoroethylene-Industry
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Further Key findings from the study suggest:
Granular PTFE dominated the product market, accounting for over 32% of global volumes in 2012, sales were strongest in Asia Pacific, with consumption expected to reach 67.2 kilo tons in 2020, growing at a CAGR of over 10% from 2013 to 2020
Powdered PTFE, both in micro-powder and fine-powder form accounted for over 43% of global volumes in 2012. Powdered PTFE is commonly used in aerospace, automotive, wire coatings and textile membranes
Automotive applications, majorly in equipment manufacturing, dominated PTFE demand in 2012, accounting for close to 28% of global volumes in 2012. Asia Pacific PTFE sales for automotive equipments are expected to reach USD 614.4 million by 2020, growing at a CAGR of over 8% from 2013 to 2020
Industrial and electronic applications together accounted for over 48% of global PTFE volumes in 2012
Asia Pacific is expected to maintain market dominant position, and is expected to account for over 37% of global PTFE consumption by 2020. North America PTFE demand was estimated to be 76.8 kilo tons in 2012 and is expected to reach 155.7 kilo tons by 2020, growing at a CAGR of 9.3% from 2013 to 2020
The global market is highly concentrated, with top four participants accounting for over 65% of total sales in 2012. DuPont, Daikin, Solvay, 3M and Arkema are key participants in the PTFE industry, accounting for over 70% of the global production capacity in 2012
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The global PTFE market has been broken down in to the following segments:
# PTFE Application Outlook
- Industrial Processing
- Electronics
- Automotive & Transportation
- Others (Cookware, Construction, Textiles etc.)
# PTFE Product Outlook
- Granular
- Micro-powder
- Fine-powder
- Others (Dispersion, Liquid, etc.)
# PTFE Regional Outlook
- North America
- Europe
- Asia Pacific
- RoW
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