The polytetrafluoroethylene market is expected to depict commendable growth through the coming years, owing to the rising product usage in single-use and cold-chain containers for the storage of COVID vaccines. This is because containers manufactured from PTFE may be less vulnerable to mechanical breakage and failure as compared to traditionally used materials such as polyethylene or EVA.
The market growth is further influenced by alterations in regulatory policies regarding the import and export of polytetrafluoroethylene across various borders. Considering an instance, in December 2020, the investigation arm of the Indian Ministry of Commerce, DGTR (Directorate General of Trade Remedies), considered it necessary to recommend alterations in the existing anti-dumping duties on the PTFE imports originating in or exported from the country of Russia.
Request sample copy of this report @ https://www.gminsights.com/request-sample/detail/4842
Such advancements are likely to push the demand for PTFE materials over the analysis period. Citing these drivers, the PTFE market share will exhibit remarkable growth through 2026, as anticipated by recent research conducted by Global Market Insights Inc.
To that end, few major trends that are likely to augment polytetrafluoroethylene industry size comprise:
Increasing usage for industrial purposes
The industrial segment in the polytetrafluoroethylene market is expected to record a share of 14% due to the rising adoption of machinery. The materials essentially help in the reduction of the overall costs of maintenance.
In addition, common PTFE uses in industrial pipes due to non-reactivity and tolerance for extremely high temperatures have been instrumental in escalating product popularity.
Rising demand for granular PTFE
The polytetrafluoroethylene market is witnessing a high demand for granular PTFE. The product is gaining remarkable attention from manufacturers of industrial components.
Owing to this, the segment is likely to record a growth rate of more than 6% over the estimated period. Based on form, the polytetrafluoroethylene industry is categorized into powder, dispersion, and granular.
Year-on-year output of chemical production in Middle East & Africa
The Middle East & Africa polytetrafluoroethylene market is expected to occupy a lower share in the overall market size through the forecasted period. However, the region has depicted year-on-year growth in the output of chemical production.
Furthermore, investment and capacity expansion in research laboratories by several chemical manufacturers is expected to augment the share of MEA in the polytetrafluoroethylene market through 2026.
Escalating demand for modified PTFE
Modified polytetrafluoroethylene will record a substantial CAGR of over 6.1% through 2026. This is on account of the increasing requirement for purity and reliability from manufacturers of pharmaceuticals and food.
As compared to PTFE, the modified version of PTFE provides lower gas permeability as well as enhanced high temperature.
Request for customization @ https://www.gminsights.com/roc/4842
How will the polytetrafluoroethylene market grow through 2026?
The polytetrafluoroethylene industry is slated to record lucrative growth over the estimated period propelled by the rising adoption of the product across a range of industries comprising automotive & aerospace, building & construction, electrical & electronics, industrial, and others.
The increasing adoption due to multiple polytetrafluoroethylene properties comprising affordability as well as durable and stable characteristics.
However, the expansion of the PTFE market share is expected to be hindered on account of strict regulatory norms over product usage and the rising deployment of substitutes across various end-user industries.
In a nutshell, the rising inclination of industry players towards the adoption of capacity expansion and product development strategies will boost PTFE market size through the assessment period.
About Global Market Insights:
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
Corporate Sales, USA
Global Market Insights, Inc.
Toll Free: 1-888-689-0688
Email: [email protected]