Suspension Polytetrafluoroethylene Market - Forecast(2023 - 2028)

Suspension Polytetrafluoroethylene Market Overview

The Suspension Polytetrafluoroethylene Market size is estimated to reach US$1.5 billion by 2027 after growing at a CAGR of 7.2% from 2022 to 2027. Polytetrafluoroethylene (PTFE) is a synthetic fluoropolymer of tetrafluoroethylene. PTFE can be made from the production of chlorodifluoromethane and methane. PTFE is hydrophobic; it does not contain water or water-containing substances. PTFE is produced in a number of ways, depending on the desired end-product. A few methods are suspension polymerization, emulsion polymerization and dispersion polymerization. In suspension polymerization, the TFE is polymerized in water, since PTFE is insoluble in water; the polymerized product is precipitated from water to form primary particles. If there is no dispersant in the water, the primary particles will aggregate into coarse particle or grain, which is commonly known as suspension polymerization. These grains can be molded after they have been processed into pellets. The commonly known brand name of PTFE-based compositions is Teflon.

COVID-19 Impact

Due to the pandemic, every industry was impacted adversely, but fluoropolymers market had enjoyed its steady growth even in pandemic. The industry is experiencing rapid growth in COVID-19 as the manufacturers are needed to produce medical devices as a faster rate. PTFE is the most lubricious polymer used to produce personal protection equipment. PTFE suspension resins produce high quality dry film lubricant which offers resistance to both corrosion and chemicals, which is best for medical professionals. In medical equipment, it is used only for its lubricant and biocompatibility properties. It is committed to meet the urging needs and demands of users without sacrificing cleanliness or quality. It is also used in silicon and nitrile stoppers used to manufacture pharmaceutical containers due to their elastomeric properties like sealing and temperature performance. Though the demand in medical industry increased, PTFE growth and demand decreased. According to International Energy Agency, Covid-related restrictions on mobility continue to suppress global oil demand for transport in the first half of the year by expecting 20% less demand in 2020 than in 2019.

Report Coverage 

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

Key Takeaways

• Suspended PTFE is widely used in medicine and has seen a rapid growth after the COVID pandemic as it helps in maintaining safe and bacteria-free environment.
• Suspension Polytetrafluoroethylene is majorly used in oil and gas by another named polymer known as Polymist, which is used as additives in paints and coatings where improvements in non-stick, resistance, slip, chemical resistance, and moisture repelling characteristics are desired.
• Asia-Pacific plays the major role in the production of suspended PTFE with countries like China with major producer as Chenguang Research Institute of Chemical Industry and India with utmost producer as Hindustan Polymer to expand its growth.

Suspension Polytetrafluoroethylene Market Segment Analysis – By Application

Coatings segment held the largest share in the Suspension Polytetrafluoroethylene Market in 2021 and it is expected to grow with a CAGR of over 6.5% during the forecast period. Suspended PTFE coatings are non-stick coatings with a very thin film coating. It has low coefficient of friction good resistance and can handle high pressure and temperatures as well. It was earlier used in coating of cookware to make non-stick pans but now it is widely used in other applications like pipes, gears, optical devices and many more. These coatings are also used in mould release applications for products like rubber mats and golf balls. These coatings are unaffected by all acids and caustics and can function even in extreme conditions, therefore it is widely used in chemical industry as well. These coatings are also majorly used in medical industry for equipment as they are resistant to corrosion and different types of chemical agents. It also helps in maintaining safe and bacteria-free environment which is expected to provide growth opportunity. The Policy Advice stated that the global healthcare spending could reach over $10 trillion by 2022, while US has the greatest healthcare spending, sitting at $10,224 per capita. Thus, the suspended PTFE coatings demand is increasing day-by-day in food processing sector and in different applications as well.

Suspension Polytetrafluoroethylene Market Segment Analysis – By End-Use Industry

Oil and gas segment held the largest share in the Suspension Polytetrafluoroethylene Market in 2021, with a share of over 21%. Polymist, obtained by Suspension Polytetrafluoroethylene are used as additives for coatings and greases in the oil and gas industry. It has low molecular weight PTFE powders with small particle sizes that are used as additives in any other applications to enhance the processing and end-use performance characteristics. It is designed to be easily dispersed in dry or liquid media. PTFE suspension powder and granules are useful in oil and gas sectors because they are the go-to solution for many production and manufacturing issues due to their low coefficient of friction, chemical inertness, extreme temperature tolerance and dielectric stability. It is used to cope with sticking, high loads, corrosion, extreme purity requirements and heavy wear and abrasion. These are generally in cabling solutions and as heat exchangers they are ideal for insulation and jacketing, corrosion resistance and are cost effective. According to International Energy Agency, the petrochemical industry growing at a steady pace over the forecast period. Ethane, LPG and naphtha together account for 70% of the increase in oil product demand to 2021. With this, world oil production capacity is set to increase by 5 million barrels per day by 2026. Whereas, the global oil production would need to rise by 10.2 million barrels per day by 2026 to meet the expected demands. Thus, the growth in oil and gas industry is boosting the growth of Suspension Polytetrafluoroethylene Market.

Suspension Polytetrafluoroethylene Market Segment Analysis – By Geography

The Asia Pacific is the leading region accounted for the largest share in the Suspension Polytetrafluoroethylene Market in 2021, with a share of over 34%. PTFE suspension market is experiencing huge growth in Asia-Pacific regions and their focus is mainly on industrial expansions. Increasing demand for modified PTFE and expanded PTFE is pushing the demand for PTFE at a notable pace. Asia-Pacific region dominated the global PTFE market owing to the increasing demand from food and beverages, medical, electrical and electronics and oil and gas industry. According to U.S. Energy Information Administration, global oil inventory draws averaged 1.7 million barrels per day from the third quarter of 2020 till the end of 2021. The Asia-Pacific region is expected to represent a very high growth in future as well due to the growing potential in developing countries such as China and India market.

Suspension Polytetrafluoroethylene Market Drivers

Increase in demand of non-stick cookware and food processing

PTFE coatings, made by suspended PTFE, is highly used in inner coating material in non-stick cookware. This unique polymer coating prevents food from sticking in the utensils (generally pans) during cooking. Such cook wares are easy to wash and are extremely resistant to corrosion. It decreases the product maintenance cost, increase the time period and also protects the equipment purity. Due to high purity and biofilm resistance like characteristics, PTFE coatings deliver more value when used in the linings of metal vessels, frying pans and saucepans. According to Invest India, the food processing sector in India is expected to reach US$535 billion by 2025-2026. Therefore, mainly PTFE coatings are used in non-stick cookware and food processing, therefore there is a steady growth in this market.

Increased use in Building and Construction

PTFE is generally used in construction and infrastructure for providing friction-control performance with components that move simultaneously. It is used in the erection and fabrication of steelwork to minimise the overlapping produced by the uneven alignment of the steel appliances. It is also used for slide bearings, bridge bearings, dams, gaskets, expansion joints, electrical insulation and many more. It reduces friction as well as reduces the energy consumed by the machine. It is also used in building cables, connectors and insulators used in construction. According to Centers for Disease Control and Prevention, in 2019, 11.4 million U.S. workers were employed in construction. According to US Census Bureau, in November 2021, construction spending on healthcare was US$51.3 million showing a 9% increase, compared to US$46.7 million in 2020 same month. Therefore, the growth in building and construction industry is boosting the demand for Suspension Polytetrafluoroethylene.

Suspension Polytetrafluoroethylene Market Challenges

Harmful and toxic gases in PTFE

PTFE is linked to a number of health conditions, including thyroid disorders, chronic kidney disease, liver disease and testicular disease. It has also been linked to infertility and low birth weight. These diseases are due to the toxic chemical released into the air when the PTFE is heated above its melting point. Polymer fume fever consists of temporary flu-like symptoms like chills, fever, headache and body aches. According to healthline, the onset occurs after 4-10 hours of exposure and the condition usually resolves within 12-48 hours. A small number of case studies have also reported more serious side effects of exposure to overheated PTFE, including lung damage. Above 570°F (300°C), PTFE coatings may begin to break down, releasing toxic fumes in the air. These fumes can cause temporary, flu-like symptoms known as polymer fume fever. Thus, the harmful health impact associated with the use of PTFE is hampering the market growth.

Suspension Polytetrafluoroethylene Market Outlook

Suspension Polytetrafluoroethylene Market top 10 companies include:

1. 3M Company
2. Solvay S.A.
3. Asahi Glass Co., Ltd
4. Daikin Industries, Ltd.
5. Gujarat Fluorochemicals Limited
6. The Chemours Company
7. Chenguang Research Institute of Chemical Industry
8. Dongyue Group
9. Teflon
10. Saint-Gobain S.A.

Recent Developments

• In October 2021, Solvay S.A. planned to use Aglofon PTFE in its materials i.e. crystalline polymers to offer higher signal efficiency, flexibility and higher circuit integration for 5G devices with lower signal loses.
• In March 2022, Gujarat Fluorochemicals Limited has announced successful development in the use of a non-fluorinated polymerization aid in emulsion PTFE production process, substituting the use of fluorinated polymerization aid (PFAS).
• In February 2022, Gujarat Fluorochemicals Limited has announced fresh investments into expansion of PTFE & PVDF capacities in its integrated manufacturing facility at Dahej in India. The expansion plan will see additional emulsion PTFE capacity to be operational in 2023.

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