Polytetrafluoroethylene (PTFE) Films Market Worth 542.6 Million USD by 2022
PUNE, India, December 7, 2017 /PRNewswire/ --
The report "Polytetrafluoroethylene (PTFE) Films Market by Technology (Skived, Extruded, Cast), Application (Medical & Pharmaceuticals, Chemical Processing, Automotive, Aviation & Aerospace, Electrical & Electronics), and Region - Global Forecast to 2022" published by MarketsandMarketstm, the market is projected to reach USD 542.6 Million by 2022, at a CAGR of 4.4% from 2017 to 2022. This growth can be attributed to the increased demand for high-performance films in chemical processing and electrical & electronics industries, especially in China, Japan, Malaysia, India, Indonesia, and South Korea. Excellent physical properties such as chemical inertness, high temperature tolerance, non-flammability, and high insulation make PTFE films highly suitable for high-end applications.
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Browse 83 market data Tables and 25 Figures spread through 117 Pages and in-depth TOC on "Polytetrafluoroethylene (PTFE) Films Market"
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Skived PTFE films were the most widely used PTFE films in 2016
The skived technology segment accounted for the largest share of the PTFE films market in 2016. The process of skiving involves shaving-off a thin layer of film or sheet from plastic. PTFE is compressed to create a block known as billet. Skived PTFE films are manufactured from 100% Virgin PTFE resins. These films are used in ultra-pure packaging, especially in chemical processing and pharmaceutical applications, to protect fluids from contamination.
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The PTFE films market in medical & pharmaceuticals application is projected to grow at the highest CAGR during the forecast period
The use of PTFE films in the medical industry is growing at a rapid pace. Properties of PTFE films such as biocompatibility, lubricity, and chemical inertness are contributing to the increasing demand for PTFE films in the medical industry as compared to other polymeric materials. The hydrophobic nature of PTFE films makes it a suitable material for the development of surgical gowns, surgical towels, protective gowns, and disinfection equipment package materials.
The Asia Pacific region is the largest consumer of PTFE films
Asia Pacific is the largest market for PTFE films, in terms of value, followed by North America and Europe. The US, Japan, China, South Korea, and Germany are key consumers of PTFE films. The easy availability of raw materials and cheap labor makes Asia Pacific the most lucrative market for PTFE films. In addition, the increased demand for PTFE films in the chemical industry in China is expected to drive the growth of the PTFE films market in this country.
Key manufacturers of Polytetrafluoroethylene (PTFE) Films Market include Saint-Gobain (France), 3M (US), Nitto Denko (Japan), Rogers Corporation (US), Guarniflon (Italy), Technetics Group (US), Chukoh Chemical Industries (Japan), Lenzing Plastics (Austria), DUNMORE Corporation (US), and Markel Corporation (US).
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