Albany, NY — 01/15/2018 — This research report offers a comprehensive analysis of the “Global Market Study on Micronized PTFE: Automotive Industry Slated to Remain a Prominent Consumer of Micronized PTFE” The main objective of this report is to deliver insightful information and clear-cut facts pertaining to the growth trajectories of the market.
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The global micronized PTFE market is estimated to be valued at about US$ 380 Mn by the end of 2017. During the forecast period (2017 – 2025) the market is projected to grow at a CAGR of 6.3% and reach a value of about US$ 620 Mn by the end of 2025. This is due to increasing demand for high performance ink, coating and paint coupled with rise in demand for micronized PTFE from various industries like automotive and the pharmaceutical & medical industry. The global micronized PTFE market is projected to represent incremental opportunity of US$ 239.5 Mn between 2017 and 2025.
Growing demand for packaging inks in the Asia Pacific region driving the global micronized PTFE market
Growing economies, particularly in the Asia Pacific region, are driving global demand for flexible packaging, thereby bolstering demand for micronized PTFE required for manufacturing inks. The changing lifestyles and higher disposable incomes of consumers in the region have led to an increase in consumer preference for processed foods and convenience oriented products. The rapidly growing packaging sector in Asia Pacific fuels demand for more micronized PTFE to support ink manufacturers and end users.
Demand for paints and coatings supporting the growing demand for micronized PTFE in Asia Pacific
The paints and coating market deals with the development and manufacture of material that is vital for protecting the surfaces of various entities. The market size of micronized PTFE will grow to serve the paints and coatings sector due to large-scale adoption of paints and coatings in manufacturing hubs. The region is also expected to register significant growth primarily due to the vast number of projects currently being undertaken by the corresponding construction industry.
Declining export volume from China hampering revenue growth of the micronized PTFE market
In the Asia Pacific region, most of the large end users of micronized PTFE rely on imports from China-based manufacturers due to easy availability and low cost. However, many end users have raised concerns regarding the quality of PTFE resins supplied by China, as there is a notion in the global market that good quality resins are used by China for domestic purposes while poor quality resins are dumped into foreign markets. As a result, importers from other regions, especially Europe, are shifting towards local manufacturers to keep an eye on quality, as environmental regulations are likely to influence demand in the Europe regional market.
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Global Micronized PTFE Market Attractiveness by End Use Industry
Micronized PTFE is added in small quantities to other solid or liquid materials to improve abrasion resistance and lubricity, especially in the automotive sector. They are designed primarily for use as minority components in mixtures with other solid or liquid materials. Even in small quantities, they can impart some of the high performance properties of PTFE to various host materials for applications in various end-use industries. The automotive segment includes coatings for increasing weather resistance, UV protection, lubricity and enhanced durability and application in seal and gasket material manufacturing for reduced coefficient of friction and release. In the pharmaceutical & medical segment, product manufacturing facilities use flexible material to produce multiple products while maintaining product purity, cleanability, durability and low maintenance cost.
The automotive segment in the micronized PTFE market is projected to register a CAGR of 6.0% over the forecast period but will lose 70 BPS in its market share by 2025 as compared to 2017. The demand for micronized PTFE in the pharmaceutical & medical industry was pegged at 6,110.3 MT in 2016 and is projected to register a CAGR of 6.9% in terms of volume over the forecast period to reach 11,123.4 MT by the end of 2025.
International partnerships with Western and Chinese players a prominent trend in the micronized PTFE market
China-based firms will gain enough expertise to become global competitors in the micronized PTFE market, driven by the potential of the vast Chinese market. As a result, many foreign firms from the west are expanding their ties with local players. Western fluoropolymer producers prefer partners with high-purity fluorinated monomers and advanced technological capabilities. For instance, Shanghai 3F New Materials entered into a fluorochemicals joint venture with DuPont in the past and also worked with Solvay for developing a joint production venture.
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