Expanded Polytetrafluoroethylene Market worth US$1,356.5 million by 2027 at a growth rate of 6.4% - IndustryARC
The electrical & electronics sector are expected to drive the market revenue in the Expanded Polytetrafluoroethylene Market.
HYDERABAD, TELANAGANA, INDIA, January 24, 2023 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that Expanded Polytetrafluoroethylene Market size is estimated to be US$1,356.5 million in 2027 and is forecasted to grow at a CAGR of 6.4% during 2022-2027. Expanded polytetrafluoroethylene (PTFE) is a polymer material composed of polytetrafluoroethylene and fluoropolymer fibers. Expanded PTFE is nothing but an advanced version of PTFE with excellent performance without any changes to the basic PTFE parent properties. Expanded polytetrafluoroethylene material has significant properties such as chemical resistance, UV resistance, heat resistance and others which makes it a widely accepted polymer material in various end-use industries in harsh environments. Expanded polytetrafluoroethylene can deliver high performance without any modification in the chemical structure of polytetrafluoroethylene structures. This makes the adoption of expanded polytetrafluoroethylene and higher penetration in applications that require both mechanical and chemical performances. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.
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This IndustryARC report on the Expanded Polytetrafluoroethylene Market highlights the following areas -
1. The expanded Polytetrafluoroethylene is expected to grow at a faster pace rate owing to the increased consumption of expanded Polytetrafluoroethylenes electrical and electronic industry for information and technology services.
2. Covid-19 has disrupted the market growth in 2020 owing to decreased supply of raw materials, halted building and construction activities and closure of trade between the countries.
3. The Asia Pacific holds the major share in the expanded Polytetrafluoroethylene market due to higher investments in urban infrastructure coupled with the presence of local players.
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1. According to the International Organization of Motor Vehicle Manufacturers, the global production volume of automotive vehicles was around 77.62 million units in 2020 which has increased to 80.14 million units in 2021. The increase in the production of automotive vehicles will boost the demand for shielding gaskets which will boost the consumption of expanded polytetrafluoroethylene products over the years.
2. Asia Pacific is the largest and most rapidly growing expanded polytetrafluoroethylene market due to the increasing use of end-to-end industries such as medical, transportation, and chemical, among others. In addition, increased investment in the automotive and growing oil and gas industries will further boost the market in the region during the forecast period.
3. The automotive industry segment held the largest share of around 30% in the expanded polytetrafluoroethylene market in 2021 and is expected to grow at a CAGR of 5.7% during the forecast period. Expanded polytetrafluoroethylene is often used in automotive as it serves as a protective coating to protect automotive parts from chemicals, abrasion, and leakages.
4. Expanded Polytetrafluoroethylene is used in various end-use industries such as automotive, plumbing & lavatory, chemical industry, oil & gas, medical industry, and others.
The top 5 players in the Expanded Polytetrafluoroethylene Industry are -
1. Trinity Technology Group
2. Akoya Capitals Partners LLC
3. W.L. Gore & Associates, Inc.
4. Donaldson Company, Inc. (US)
5. Teadit Zeus Industrial Products, Inc.
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B. Polytetrafluoroethylene (PTFE) Market
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