London, 24 July 2015: Technavio, the independent tech-focused global research firm, has published a report on the global PTFE market 2015-2019, which is expected to grow at a CAGR of 5.03% during 2014-2019.
The demand for PTFE is propelled by industries such as chemical processing because it is corrosion- resistant and chemically inert. PTFE is best used as an insulator in electrical applications. PTFE piping, vessels, and tubing are used extensively in pharmaceutical industries. Other end-user industries that generate the demand in the market are semiconductor, bearing pads, food, and beverage. APAC is the fastest growing market in terms of PTFE consumption.
“Modified PTFE offers a potential opportunity for new applications in the construction sector, the semiconductor industry, and sealing technology,” says Faisal Ghaus, Vice President of Technavio.
“Applications where modified PTFE is predominantly used are gaskets for chlorine electrolysis cells, bags for high-purity chemicals, wafer carriers, diaphragms in pumps and valves, lining for pipes, vessels, ducts, and reactors.”
Key Market Drivers
- Increased Utilization of PTFE in Medical Industry
- Product Differentiation and Innovation
- Mounting Demand from APAC
Key Market Trends
- Growing Demand for ePTFE
- Technological Advances
- Emergence of Applications for Modified PTFE
Key Market Vendors
- 3M
- AGC Chemicals Americas
- Daikin Industries
- DuPont
- Saint-Gobain
- Solvay
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
