Expanded Polytetrafluoroethylene Market - Forecast(2023 - 2028)

Expanded Polytetrafluoroethylene Market Overview

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.

COVID-19 Impact

COVID-19 has affected the expanded polytetrafluoroethylene market by decreasing production due to the closure of manufacturing plants coupled with raw material supply due to lockdown. The closure of international borders during covid-19 has declined the import and exports between the countries. According to Trade statistics for international business development, the global import of polytetrafluoroethylene material used to manufacture expanded polytetrafluoroethylene was valued to be US$ 1,104 million in 2019 which has decreased to US$ 957.6 million in 2020. The decreased import of polytetrafluoroethylene material has resulted in declined production of expanded polytetrafluoroethylene products leading to a market pitfall.

Report Coverage

The: “Expanded Polytetrafluoroethylene Market Report – Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the expanded Polytetrafluoroethylene industry.

By Thickness: Less than 1 mm, 1.1 – 3 mm, 3.1 – 5 mm, and Above 5 mm.
By Form: Sheets, Tapes, Tubes, Membranes, Fibers, and Others
By Sales Channel: Direct Sales Channel and Indirect Sales Channel.
By Application: Shielding Gaskets (Hydraulic Systems, Ventilation Ducts, Fan Housing, Fume Ducts, Pneumatic System, Engine Case Doors, Others), Filtration & Separation (Air Filters, Gas Vents, Aerosol Sampling, Others), Dielectric Materials (Power & Signal Delivery, High Data Rate Cables, Motor Windings & Capacitors, Space Flight, Others), Insulation (Thermal Resistance, Abrasive Resistance, UV Resistance, Water Proof, Others), Fabrics, Sealants, and Others
By End-use Industry: Automotives (Passenger Vehicles, High Commercial Vehicles, and Low Commercial Vehicles), Aerospace & Defence (Wires & Cabled, Fuel Hoses, and Others), Plumbing & Lavatory [Residential Plumbing & Lavatory (Independent Homes, Row Homes, Large Apartment Buildings, Others), Commercial Plumbing & Lavatory (Hospitals and Healthcare Infrastructure, Educational Institutes, Hotels and Restaurants, Banks and Financial Institutions, Airports, Shopping Malls, and Others)], Chemical Industry (Product Manufacturing, Contamination Control, Others), Oil & Gas (Control Line Encapsulation, Pipe Liners, Others), Medical Industry (Wound Care Material, Transducer Protectors, Medical Device Enclosures, Vent Caps, Surgical Smoke and Suction Filters, Others), Electrical & Electronics, and Others.
By Geography: North America (USA, Canada, and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and New Zealand, Indonesia, Taiwan, Malaysia, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), Rest of the World (Middle East, and Africa).

Key Takeaways

• 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.
• 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.
• 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

Expanded Polytetrafluoroethylene Market Segment Analysis – By Application

Shielding gaskets held the largest share in the expanded polytetrafluoroethylene market in 2021 and are expected to grow at a CAGR of 5.1% during the forecast period. Shielding gaskets form a barrier between parts so that the fuel passing through them does not leak. Shielding gaskets are usually made of flat and circular rings, such as those found in taps. The most common use of shielding gaskets is in automotive, including hydraulic systems, ventilation ducts, fan housing, fume ducts, pneumatic system, and engine case doors. Expanded polytetrafluoroethylene products are used inside these shielding gaskets to make the barrier much leakproof. 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.

Expanded Polytetrafluoroethylene Market Segment Analysis – By End-use Industry

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. The production of automotive is increasing in American countries. For instance, according to the International Organization of Motor Vehicle Manufacturers, the motor vehicle production in Brazil increased from 2,881,018 units in 2018 to 2,944,988 units in 2019, an increase of 2.2%. According to the Argonne National Laboratory, in the USA, a total of 53,465 plug-in vehicles were sold during January 2022, up 64.2% from the sales in January 2021. In January 2022, 64,344 HEVs were sold, up 37.4% from the sales in January 2021. With the flourishing automotive sector in America, it is anticipated that there will be an upsurge in the demand for expanded polytetrafluoroethylene to provide better refinish, consistency, stability, and resistance for automotive parts. This increase in automotive production in developed economies such as North America and South America will have a significant impact on the expanded polytetrafluoroethylene market revenue growth.

Expanded Polytetrafluoroethylene Market Segment Analysis – By Geography

The Asia Pacific has dominated the market in terms of revenue by 2021. In terms of revenue, the region held the largest share of more than 25% in the expanded Polytetrafluoroethylene market in 2021, owing to fast-growing end-use industries in recent years.

The 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. In addition, countries such as China and India have been expanding their construction and infrastructure sector over the years. According to the Ministry of Land, Infrastructure and Transport Civil Aviation Bureau, Investment value in public infrastructure construction and maintenance in Japan was around US$ 48.91 Billion in 2018 and has increased to US$ 53.59 Billion in 2019. As public infrastructure developments, and maintenance require plumbing and lavatory, the need for expanded polytetrafluoroethylene products increases. North America ranks with the second largest market share in the world after developed countries. However, the greatest potential for growth lies in the countries of Asia Pacific. These factors are expected to advance the need for expanded polytetrafluoroethylene in the Asia Pacific region during the forecasted period.

Expanded Polytetrafluoroethylene Market Drivers

Increased demand from End-use Industry

Expanded Polytetrafluoroethylene is used in various end-use industries such as automotive, plumbing & lavatory, chemical industry, oil & gas, medical industry, and others.

Factors such as the growing demand for expanded polytetrafluoroethylene in various end-user industries are expected to increase the penetration of products across the globe. Increased application of expanded polytetrafluoroethylene in medical equipment owing to the need for flexibility and resistance to chemicals and abrasion even at low temperatures and high electric systems is expected to drive the market.

In addition, the increasing use of microfiltration and ventilation applications is projected to generate more market opportunities in the coming years. Also, increased spending on commercial infrastructure across the globe will consume the expanded polytetrafluoroethylene products for the installation and rejuvenation of lavatory systems. According to the National Bureau of Statistics of China, the total number of hospitals constructed has continuously increased for a decade. The total number of hospitals constructed in china was around 31,056 in 2017 and has increased to 35,394 in 2020. The need for better hospitality and medical infrastructure in developing economies is expected to drive the market for the expanded polytetrafluoroethylene market.

Expanding Demand from the Electrical and Electronics Sector

The electrical and electronics sector is one of the major consumers of expanded polytetrafluoroethylene products for power & signal delivery, and high data rate cables. Increased use of data, the internet has increased the opportunity and need for a higher number of high data rate cables with better efficacy so that the data is not lost during the transaction. According to the US Ministry of Information Technology, Information technology (IT) spending on data centre systems worldwide was estimated to be US$ 181 billion in 2017 and has increased to US$ 215 billion in 2019. Also, according to the US Ministry of Information Technology, the annual mobile data traffic worldwide was around 28 exabytes in 2018 which has increased to 51 exabytes in 2020. The increased data use will lead to the requirement for efficient power & signal delivery coupled with high data rate cables. The increased investment in data centers will increase the consumption of expanded polytetrafluoroethylene products to ensure data security. The aforementioned developments in the electrical & electronics sector are expected to drive the market revenue in the forecasted period.

Expanded Polytetrafluoroethylene Market Challenges

Stringent Government Regulation

Stringent government regulations to manufacture and dispose of various polymers including expanded polytetrafluoroethylene products are among the major restraint that backfoot the expanded polytetrafluoroethylene market.

For an instance, on July 4, 2020, the European Commission amended REACH (registration, testing, authorization and chemical prevention) regulation on expanded polytetrafluoroethylene products. The regulation aims to improve the protection of human health and the environment through better and earlier detection of chemical properties of chemical substances. This is done through four REACH processes, namely registration, testing, authorization and chemical prevention. In addition, the governments of various countries are investing heavily in strengthening their firefighting programs and are making various efforts to reduce and prevent wildfires that are expected to halt market growth caused by due disposal of polytetrafluoroethylene products. On the other hand, supply chain disruptions due to COVID-19 restrictions are expected to be a major challenge to the growth of the expanded polytetrafluoroethylene market.

Expanded Polytetrafluoroethylene Market Industry Outlook

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Expanded Polytetrafluoroethylene Market. Expanded Polytetrafluoroethylene Market top 10 companies 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.
6. Dexmet Corporation
7. Phillips Scientific, Inc.
8. Rogers Corporation
9. Poly Fluoro Ltd
10. Markel Corporation

Recent Developments

• In September 2021, W. L. Gore & Associates (Gore) has expanded its product portfolio by launching a line of new expanded polytetrafluoroethylene products suitable for coaxial cables and defence land cables to transfer high-definition videos and radio frequencies.
• In March 2021, Donaldson Company, Inc. has launched its new product called iCue which can be applied for filtration services such as air filters, gas vents, aerosol sampling, and others.
• In July 2019, Trinity Technology Group has expanded its production facility to increase the production of expanded polytetrafluoroethylene products by investing US$ 7.25 million in Missouri in the United States.

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