The demand for micronized PTFE is likely to get stoked further in the coming years on account of the surging penetration of micronized PTFE in the thermoplastic industry. Considering the increasing demand for micronized PTFE, leading producers are rolling their sleeves up to offer technologically advanced products to their customers, thus expanding their regional footprint, as per TMR Research.
Properties of micronized PTFE such as high tensile strength, low friction, flame abrasion, flame retardancy, and wear resistance have made it useful for use in diverse applications in the thermoplastic industry. In addition, healthy growth witnessed in emerging nations across Asia Pacific has bode well for the PTFE market. According to the report, industries such as automotive, coatings, electronics, and textiles are witnessing excellent growth in Asia Pacific, which in turn has provided significant impetus to the PTFE market in the region. Also in the forthcoming years, the demand for high performance polymers, which show good performance under extreme temperature, is expected to rise, subsequently creating an environment conducive to the market’s growth.
Despite the aforementioned strong prospects, stringent regulations implemented on the use of fluro-chemicals could hamper the market’s growth to an extent. It is important to note in this regard that fluro-chemicals are identified as greenhouse gases and several environmental agencies such as the US Environmental Protection Agency has implemented various restriction on its use. Nonetheless, over the last few years, the use of micronized PTFE has surged across automotive and textile industries, which will enable growth in the global market in the coming years.
Regionally, Asia Pacific will demonstrate lucrative opportunities for the market. According to the report it is likely to show increasing consumption as well as production of PTFE. Rapid industrialization witnessed in Asia Pacific, besides the expansion of its manufacturing sector will augur well for the region’s micronized PTFE market. The demand witnessed in Asia Pacific is majorly driven by applications such as thermoplastic, ink, and coatings.
Overall, the global micronized PTFE market exhibits a high level of competition, on account of the presence of a large number of companies. Thus it also exhibit a fragmented vendor landscape. Some of the most prominent enterprises operating in the global micronized PTFE market are Micro Powders Inc., Gujarat Fluorochemicals Limited, E.I. Dupont De Nemours & Company, Shamrock Technologies Inc., Reprolon Texas, Shanghai 3F New Materials Company Ltd., and Solvay S.A.