H1 2023: The leading PTFE producers in H1 2023 were Shandong Dongyue Polymer Materials Co. Ltd. and The Chemrous Group. Globally, Asia Pacific region was leading in terms of consuming PTFE. Prices of PTFE were fluctuating in the Asia Pacific region in H1 2023. China reopened its market after the Lunar holidays in February 2023 which increased the PTFE production rates. These factors lowered the cost of PTFE in the Chinese market. The demand for PTFE by the end-user industries were moderated, leading to fluctuations in PTFE prices in China. However, in the Indian PTFE market, prices rose in the first three months of H1 2023 due to high consumption in downstream automotive industries. Automobile sales increased in India in the first three months of H1 2023, which strongly supported the demand of PTFE material in the nation. Although, PTFE prices fell in the Indian market from April 2023 due to weak demand in the country. The cost of fluoropolymers was in a downward spiral due to slow economic activity in the Chinese market. Weak PTFE demand led companies to reduce production activity at the beginning of April 2023 which lasted till the end of H1 2023. In May 2023, Gujarat Fluorochemicals Limited (GFLC), one of the leading FKM producers of India, had their site shut for a short interval of 30 days for maintenance purposes. On the other hand, in the US, PTFE prices witnessed an upward trajectory throughout H1 2023. It was primarily due to strong demand from downstream industries throughout the first half of 2023. The consumption of PTFE in the automotive industry was high throughout the period. Shipping costs of PTFE from Asia to the US fluctuated, which further affected the PTFE prices in the US.
The global Fluoropolymers (PTFE) market stood at nearly 190 thousand tonnes in 2022 and is expected to grow at a steady CAGR of 4.17% during the forecast period until 2032. The rise in demand for Fluoropolymers (PTFE) across a range of industries, including the Chemical and Industrial Processing sectors is expected to be key reasons for the Fluoropolymers (PTFE) market's expansion.
Fluoropolymers are derivatives of fluorocarbons with many carbon-fluorine linkages. The different types of Fluoropolymers include Polytetrafluoroethylene (PTFE), Fluorinated Ethylene Propylene (FEP), Polyvinylidene fluoride (PVDF), Fluoroelastomers, and others (ECTFE, PFA, etc.). These are high-performance polymers that are unreactive in corrosive conditions. They are used in numerous industries such as automotive, aerospace, electronics, and telecommunications industries. Teflon, the common name for fluoropolymer polytetrafluoroethylene (PTFE), is a widely used fluoropolymer. PTFE possesses special attributes like nonreactivity, hydrophobicity, a low coefficient of friction, and effective insulation. Additionally, PTFE is utilized in the production of semiconductors, and nonstick coating for cookware. medical equipment, coatings for bulk chemical containers, eyewear, razor blades, etc.
PTFE also finds major adoption in the inner and outer lining of heavy-duty pieces of machinery, process equipment, heat exchangers, pumps, and most importantly process lines/pipes that are responsible for the transportation of corrosive and hazardous chemicals from one place to another in chemical and processing industries. Due to its superior mechanical and chemical resistance qualities, fluoropolymer has gained popularity in the market and is used in a variety of end use applications, including pumps, impellers, coating for heat exchangers, tanks, reaction vessels, autoclaves, and diaphragms. Fluoropolymers are the most practical and excellent material for making green technology products, including solar panels and wind turbines. By protecting against harsh weather and surroundings like hail, rain, humidity, UV light, wind, and severe temperatures, fluoropolymers contribute to increased durability. Improvements in efficiency and safety, resistance to electricity and chemicals, corrosion protection, tensile strength, and resistance to high working pressures are some of the additional factors that are gravitating the interest of investors in the global fluoropolymers market in the upcoming years. The Fluoropolymers (PTFE) market is expected to escalate and reach roughly 290 thousand tonnes in the year 2032.
Regionally, the Asia Pacific region is dominating the Fluoropolymers (PTFE) market followed by Europe and North America. Asia Pacific held a market share of approximately 45% in 2022. The rapid expansion of chemical and mechanical industries owing to fast-paced industrialization across developing nations like India, China, and Taiwan will most likely support the expansion of this market in the near future. Furthermore, Asia Pacific region also leads in terms of producing PTFE with China holding the largest production capacity.
Based on the end-user industry, the global Fluoropolymers (PTFE) market is segmented into Chemical and Industrial Processing, Electrical and Electronics Industry, Mechanical Industry, Automotive industry, and Others. Among these, Chemical and Industrial Processing is the primary consumer of the Fluoropolymers (PTFE) market and captured approximately 40% of the market in 2022. Although, the Mechanical Industry also holds considerable market shares. The advantageous characteristics of PTFE make it suitable for a variety of uses, including PTFE 'O' rings, seals & gaskets, valves, wire insulating material, insulated transformers, bearings, surface coatings, chemical processing equipment, chemical transport, and PTFE rubber diaphragms.
Major players in the production of Global Fluoropolymers (PTFE) are Shandong Dongyue Polymer Materials Co. Ltd., The Chemrous Group, Arkema, Zhonghao Chenguang Research Institute of Chemical Industry Co.Ltd., Zhejiang Jusheng Fluorochemicals Co. Ltd., Shangai 3F Fuyuan New Material Co. Ltd., Jiangsu Meilan New Materials Co. Ltd., Dyneon GmbH, HaloPolymer OJSC, Gujarat Fluorochemicals Limited, Hindustan Fluorocarbons Limited, and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
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Objective of the Study:
• To assess the demand-supply scenario of Fluoropolymers (PTFE) which covers production, demand and supply of Fluoropolymers (PTFE) market in the globe.
• To analyse and forecast the market size of Fluoropolymers (PTFE)
• To classify and forecast Global Fluoropolymers (PTFE) market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Fluoropolymers (PTFE) market in the globe.
To extract data for Global Fluoropolymers (PTFE) market, primary research surveys were conducted with Fluoropolymers (PTFE) manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Fluoropolymers (PTFE) market over the coming years.
ChemAnalyst calculated Fluoropolymers (PTFE) demand in the globe by analyzing the historical data and demand forecast which was carried out considering the demand of Fluoropolymers (PTFE) from the end-use industries. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Fluoropolymers (PTFE) manufacturers and other stakeholders
• Organizations, forums and alliances related to Fluoropolymers (PTFE) distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Fluoropolymers (PTFE) manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Fluoropolymers (PTFE) market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
190 thousand tonnes
Market size Volume by 2032
290 thousand tonnes
Growth Rate
CAGR of 4.17% from 2023 to 2032
Base year for estimation
2023
Historic Data
2015 – 2022
Forecast period
2024 – 2032
Quantitative units
Demand in thousand tonnes and CAGR from 2023 to 2032
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Foreign Trade
Segments covered
By End-Use: (Chemical and Industrial Processing, Electrical and Electronics Industry, Mechanical Industry, Automotive industry, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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What was global market size of Fluoropolymers (PTFE) in terms of volume in 2022?
Ans:
The global market size of Fluoropolymers (PTFE) has grown significantly in the historic period of 2015-2022 and reached approximately 190 thousand tonnes in 2022.
Q2.
Which region is the major consumer of Global Fluoropolymers (PTFE) market?
Ans:
The Asia Pacific region is dominating the Fluoropolymers (PTFE) market with a market share of approximately 45% in 2022.
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