21-Sep-16 The drivers of the European Polytetrafluoroethylene market are growing penetration in emerging medical industry and growing consumption in automotive industry. PTFE is a synthetic fluoropolymer of tetrafluoroethylene (TFE). It is highly non-reactive, partly because of the strength of carbon–fluorine bonds and so, it is often used in containers and pipework for reactive and corrosive chemicals. The demand for PTFE is driven by its growing applications, such as Modified Polytetrafluoroethylene (mPTFE) and Expanded Polytetrafluoroethylene (ePTFE), which are being seen as significant markets for PTFE in the coming years. According to the new market research, the Europe PTFE market, in terms of value, is projected to reach US$625 mln by 2019, at a CAGR of 5.5% from 2014 to 2019, as per Micro Market Monitor.
Italy is the biggest PTFE consumer, accounting for roughly 25% of the Europe PTFE demand. The industrial consumers of Italy PTFE market include automotive, semiconductor manufacturing, chemical processing, textile laminates, food and household, electronic, mechanical, construction, and medical. Out of these, the chemical processing industry is the biggest consumer of Italy PTFE market, followed by the mechanical industry. Almost 21% of the total PTFE demand was for the chemical processing applications in 2014, with the food & household and mechanical industries also being the fastest-growing end-use segments, primarily due to their high penetration in all the regions.
The Europe Polytetrafluoroethylene (PTFE) market, along with its end products, has witnessed a linear growth in the past few years which is estimated to increase in the coming years. PTFE is one of the basic organic chemical raw materials widely used in containers and pipework for reactive and corrosive chemicals. The quality, high efficiency, and being environmentally acceptable are some of the major features that cause a rise in the demand for PTFE; and the upcoming safety regulations & innovative techniques for its use are expected to be the key influencing factors for the European PTFE market with increased emphasis on its different types and their applications.
The PTFE market is experiencing high growth which is expected to continue in the near future, mainly driven by the growth in countries like Germany, Italy, and France and considerable amount of investments made by various market players to serve the end-user industry in the future. The European region is the main PTFE market that accounted for about 28% market share of the total global demand in 2014. The region is further expected to register a high growth in the future, mainly due to the high growth potential of the agriculture markets in Italy and Germany.
Almost 21% of the total PTFE demand was for the chemical processing applications in 2014, with the food & household and mechanical industries also being the fastest-growing end-use segments, primarily due to their high penetration in all the regions.
