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Micronized Polytetrafluoroethylene Market- By Source , By Application , By End-use Industry , By Geography - Global Opportunity Analysis & Industry Forecast, 2024 - 2030
Micronized Polytetrafluoroethylene Market Overview
The Micronized Polytetrafluoroethylene Market Size is forecast to reach $ 276.9 Million by 2030, at a CAGR of 3.7% during forecast period 2024-2030.Micronized polytetrafluoroethylene or micronized PTFE is a synthetic polymer and belongs to a family of PTFE micronized powders, developed for usage as additives, coatings, inks and others across major industries. Micronized PTFE is significantly utilized in the automotive sector for vehicle anti-corrosion coatings, additives and others, thereby acting as a driving factor in the micronized polytetrafluoroethylene industry. According to the Society of Indian Automobile Manufacturers (SIAM), Indian automotive domestic sales for passenger vehicles increased from 2,711,457 units in 2020-21 to 3,069,499 units in 2021-22. In addition, massive dominance for paints & coatings applications across major sectors, including transportation, construction and others is fueling its growth scope. The major disruption caused by the COVID-19 outbreak impacted the growth of the Micronized Polytetrafluoroethylene Market due to disturbances in manufacturing and supply chain, falling demand from major end-use industries and other lockdown restrictions. However, significant recovery is boosting the demand for Micronized Polytetrafluoroethylene for a wide range of applicability and utilization in transportation, chemicals, construction and other sectors.
Micronized Polytetrafluoroethylene Market Report Coverage
The “Micronized Polytetrafluoroethylene Market Report – Forecast (2025-2031)” by IndustryARC, covers an in-depth analysis of the following segments in the Micronized Polytetrafluoroethylene Industry.
By Source: Virgin and Recycled
By Application: Paints & Coatings, Inks, Thermoplastics, Elastomers, Greases, Lubricants, Semiconductors and Others.
By End-use Industry: Automotive [Passenger Vehicles (PVs), Light Commercial Vehicles (LCVs) and Heavy Commercial Vehicles (HCVs)], Aerospace (Military, Commercial and Others), Electronics (Cell Phones, Consumer Electronics and Others), Building & Construction (Residential, Industrial, Commercial and Infrastructural), Medical & Healthcare, Chemicals and Others.
By Geography: North America (the USA, Canada and Mexico), Europe (the UK, Germany, France, Italy, the Netherlands, Spain, Belgium and the Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia and the Rest of APAC), South America (Brazil, Argentina, Colombia, Chile and the Rest of South America) and the Rest of the World [the Middle East (Saudi Arabia, the UAE, Israel and the Rest of the Middle East) and Africa (South Africa, Nigeria and the Rest of Africa)].
Key Takeaways
- Asia-pacific dominates the Micronized Polytetrafluoroethylene Market, owing to growth factors such as the flourished base for the automotive sector, growing construction activities and industrialization.
- The flourishing automotive industry sector across the world is propelling the demand for Micronized Polytetrafluoroethylene for vehicle lubricants, additives, anti-corrosion coatings and others, thereby influencing the growth in the Micronized Polytetrafluoroethylene Market size. According to the International Organization of Motor Vehicle Manufacturers (OICA), the total vehicle units produced in 2021 was 82,684,788 as compared to 78,774,320 in 2020.
- However, the stringent regulations associated with Micronized PTFE act as a challenging factor in the Micronized Polytetrafluoroethylene industry.
Figure: Micronized Polytetrafluoroethylene Market Revenue Share by Geography, 2021(%)
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Micronized Polytetrafluoroethylene Market Segment Analysis – by Application
The paints & coatings segment held a significant share of the Micronized Polytetrafluoroethylene Market in 2021 and is estimated to grow at a CAGR of 5.5% during the forecast period 2022-2027. Micronized polytetrafluoroethylene has major demand in paints & coatings applications across major industries, including automotive, construction and others. The construction saw lucrative growth due to rising infrastructural projects, rising residential housing schemes and urbanization trends. According to the National Development and Reform Commission of China, the Chinese government approved 26 infrastructure projects with an estimated investment of about US$142 billion in 2019, expected to be completed by 2023. With the rapid growth scope of the construction sector, the paints & coatings application of micronized PTFE is projected to rise, which in turn, is anticipated to boost growth prospects for paints & coatings applications over the forecast period.
Micronized Polytetrafluoroethylene Market Segment Analysis – by End-use Industry
The automotive segment held a significant share of the Micronized Polytetrafluoroethylene Market in 2021 and is projected to grow at a CAGR of 6.5% during the forecast period 2022-2027. Micronized Polytetrafluoroethylene is widely used in the automotive industry for lubricants, inks, paints & coatings and others due to their excellent wear and tear resistance. The automotive sector is significantly flourishing owing to growth factors such as rising public transportation, surging vehicle production and rising income levels. According to the International Organization of Motor Vehicle Manufacturers (OICA), automotive production saw a growth of 12% in Brazil, 30% in India, 4% in the USA and 3% growth in China in 2021. With the robust growth scope for the automotive industry, the applicability of micronized polytetrafluoroethylene or micronized PTFE is projected to rise. This, in turn, is anticipated to boost its growth scope in the automotive industry over the forecast period.
Micronized Polytetrafluoroethylene Market Segment Analysis – by Geography
Asia-Pacific dominated the Micronized Polytetrafluoroethylene Market with up to 39% market share in 2021. The lucrative growth scope for micronized polytetrafluoroethylene or PTFE micronized powder in this region is influenced by the rise in automotive production, surging construction activities and urbanization trends. The lucrative growth for the automotive sector in APAC is influenced by the flourished base for the automotive sector, which utilizes this synthetic polymer as a lubricant, additive, anti-corrosion coating and others. According to the India Brand Equity Foundation (IBEF), the automotive industry in India is expected to reach US$251.4-282.8 billion by the year 2026. According to the Japan Automobile Manufacturers Association (JAMA), motor vehicle production in Japan increased from 344,875 units in December 2019 to 360,103 units in January 2020.
Micronized Polytetrafluoroethylene Market Drivers
Bolstering Growth of the Building & Construction Sector:
Micronized Polytetrafluoroethylene or micronized PTFE is a synthetic polymer, which is increasingly utilized in the building and construction sector for various applications in the form of inks, paints & coatings, additives and others. The building & construction sector is rapidly growing due to growth factors such as a rise in housing schemes, government projects for infrastructure development and flourishing residential housing development activities. According to the National Investment Promotion & Facilitation Agency, the construction industry in India is estimated to reach US$1.4 trillion by 2025. According to the United States Census Bureau, construction spending during the first three months of 2022 accounted for US$376.6 billion, an increase of 12% from the same period in 2021. With the rapid surge in the building & construction sector, the utilization of micronized polytetrafluoroethylene in the residential, commercial and industrial segments is rising, thereby driving the Micronized Polytetrafluoroethylene industry.
Flourishing Growth of the Electronics Sector:
Micronized Polytetrafluoroethylene or micronized PTFE has major applications in the electronics sector for consumer electronics, home appliances, cell phones and others. The electrical & electronics industry is significantly growing due to growth factors such as increasing production for consumer electronics and high demand for smart electronics. According to the Japan Electronics and Information Technology Industries Association (JEITA), the production of consumer electronic equipment in Japan increased from US$215 million in January 2022 to US$230 million in March 2022. According to the LG Electronics annual report, the sales of electronic appliances increased by 28.7% to reach US$65.32 billion in 2021 over 2020. With the robust growth scope for the electronics industry, the applicability of micronized polytetrafluoroethylene in electrical devices is rising, thereby driving the Micronized Polytetrafluoroethylene industry.
Micronized Polytetrafluoroethylene Market Challenges
Stringent Regulations Associated with Micronized Polytetrafluoroethylene:
The strict regulations and rules regarding Micronized Polytetrafluoroethylene and restrictions on the usage of perfluorooctanoic acid (PFOA) act as a growth-hindering factor. The regulations pertaining to the environmental protection of PTFE are expected to hamper the Micronized Polytetrafluoroethylene Market. For instance, fluorochemicals are considered harmful greenhouse gases and various agencies such as Environmental Protection Agency (EPA) have imposed restrictions on their usage. Due to such factors, the Micronized Polytetrafluoroethylene Market anticipates a major slowdown.
Micronized Polytetrafluoroethylene Industry Outlook
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Micronized Polytetrafluoroethylene Market. The top 10 companies in the Micronized Polytetrafluoroethylene Market are:
- 3M
- Clariant International Ltd
- Solvay
- The Chemours Company
- BYK-Chemie GmbH
- Daikin Industries
- Nanjing Tianshi New Material Technology Co. Ltd
- Shamrock Technologies Inc.
- Maflon SpA
- AGC Chemicals
Recent Developments
- In May 2020, Clariant AG announced the launch of the latest products Ceridust 3942 F TP and Ceridust 3943 F TP, which are Micronized PTFE-modified polyethylene wax additives.
- In January 2020, Micro Powder launched the EU Complaint Fluo 400 PTFE series. The latest PTFE Micronized powder has major applicability in can and coil coatings.
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1. Micronized Polytetrafluoroethylene Market - Market Overview
1.1 Definitions and Scope
2. Micronized Polytetrafluoroethylene Market - Executive Summary
2.1 Key Trends by Source
2.2 Key Trends by Application
2.3 Key Trends by End-use Industry
2.4 Key Trends by Geography
3. Micronized Polytetrafluoroethylene Market – Comparative analysis
3.1 Market Share Analysis - Major Companies
3.2 Product Benchmarking - Major Companies
3.3 Top 5 Financials Analysis
3.4 Patent Analysis - Major Companies
3.5 Pricing Analysis (ASPs will be provided)
4. Micronized Polytetrafluoroethylene Market - Startup companies Scenario Premium
4.1 Major startup company analysis:
4.1.1 Investment
4.1.2 Revenue
4.1.3 Product portfolio
4.1.4 Venture Capital and Funding Scenario
5. Micronized Polytetrafluoroethylene Market – Market Entry Scenario Premium
5.1 Regulatory Framework Overview
5.2 New Business and Ease of Doing Business Index
5.3 Successful Venture Profiles
5.4 Customer Analysis – Major companies
6. Micronized Polytetrafluoroethylene Market - Market Forces
6.1 Market Drivers
6.2 Market Constraints
6.3 Porter's Five Force Model
6.3.1 Bargaining Power of Suppliers
6.3.2 Bargaining Powers of Buyers
6.3.3 Threat of New Entrants
6.3.4 Competitive Rivalry
6.3.5 Threat of Substitutes
7. Micronized Polytetrafluoroethylene Market – Strategic Analysis
7.1 Value/Supply Chain Analysis
7.2 Opportunity Analysis
7.3 Product/Market Life Cycle
7.4 Distributor Analysis – Major Companies
8. Micronized Polytetrafluoroethylene Market – by Source (Market size – US$ Million/Billion)
8.1 Virgin
8.2 Recycled
9. Micronized Polytetrafluoroethylene Market – by Application (Market size – US$ Million/Billion)
9.1 Paints & Coatings
9.2 Inks
9.3 Thermoplastics
9.4 Elastomers
9.5 Greases
9.6 Lubricants
9.7 Semiconductors
9.8 Others
10. Micronized Polytetrafluoroethylene Market - by End-use Industry (Market Size - US$ Million/Billion)
10.1 Automotive
10.1.1 Passenger Vehicles (PVs)
10.1.2 Light Commercial Vehicles (LCVs)
10.1.3 Heavy Commercial Vehicles (HCVs)
10.2 Aerospace
10.2.1 Military
10.2.2 Commercial
10.2.3 Others
10.3 Electronics
10.3.1 Cell Phones
10.3.2 Consumer Electronics
10.3.3 Others
10.4 Building & Construction
10.4.1 Residential
10.4.2 Industrial
10.4.3 Commercial
10.4.4 Infrastructural
10.5 Medical & Healthcare
10.6 Chemicals
10.7 Others
11. Micronized Polytetrafluoroethylene Market - by Geography (Market Size - US$ Million/Billion)
11.1 North America
11.1.1 The USA
11.1.2 Canada
11.1.3 Mexico
11.2 Europe
11.2.1 The UK
11.2.2 Germany
11.2.3 France
11.2.4 Italy
11.2.5 The Netherlands
11.2.6 Spain
11.2.7 Belgium
11.2.8 The Rest of Europe
11.3 Asia-Pacific
11.3.1 China
11.3.2 Japan
11.3.3 India
11.3.4 South Korea
11.3.5 Australia and New Zealand
11.3.6 Indonesia
11.3.7 Taiwan
11.3.8 Malaysia
11.3.9 The Rest of APAC
11.4 South America
11.4.1 Brazil
11.4.2 Argentina
11.4.3 Colombia
11.4.4 Chile
11.4.5 The Rest of South America
11.5 The Rest of the World
11.5.1 The Middle-East
11.5.1.1 Saudi Arabia
11.5.1.2 The UAE
11.5.1.3 Israel
11.5.1.4 The Rest of the Middle-East
11.5.2 Africa
11.5.2.1 South Africa
11.5.2.2 Nigeria
11.5.2.3 The Rest of Africa
12. Micronized Polytetrafluoroethylene Market – Entropy
12.1 New Product Launches
12.2 M&As, Collaborations, JVs and Partnerships
13. Micronized Polytetrafluoroethylene Market – Industry/Competition Segment Analysis
13.1 Company Benchmarking Matrix – Major Companies
13.2 Market Share at Global Level - Major companies
13.3 Market Share by Key Region - Major companies
13.4 Market Share by Key Country - Major companies
13.5 Market Share by Key Application - Major companies
13.6 Market Share by Key Product Type/Product category - Major companies
14. Micronized Polytetrafluoroethylene Market – Key Company List by Country Premium
15. Micronized Polytetrafluoroethylene Market Company Analysis - Business Overview, Product Portfolio, Financials and Developments
15.1 Chemours
15.2 Daikin Industries
15.3 Saint-Gobain
15.4 Zhejiang Juhua Co., Ltd.
15.5 Solvay
* "Financials would be provided to private companies on best-efforts basis."
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LIST OF TABLES
LIST OF FIGURES
1.US Micronized Ptfe Market Revenue, 2023-2030 ($M)
2.Canada Micronized Ptfe Market Revenue, 2023-2030 ($M)
3.Mexico Micronized Ptfe Market Revenue, 2023-2030 ($M)
4.Brazil Micronized Ptfe Market Revenue, 2023-2030 ($M)
5.Argentina Micronized Ptfe Market Revenue, 2023-2030 ($M)
6.Peru Micronized Ptfe Market Revenue, 2023-2030 ($M)
7.Colombia Micronized Ptfe Market Revenue, 2023-2030 ($M)
8.Chile Micronized Ptfe Market Revenue, 2023-2030 ($M)
9.Rest of South America Micronized Ptfe Market Revenue, 2023-2030 ($M)
10.UK Micronized Ptfe Market Revenue, 2023-2030 ($M)
11.Germany Micronized Ptfe Market Revenue, 2023-2030 ($M)
12.France Micronized Ptfe Market Revenue, 2023-2030 ($M)
13.Italy Micronized Ptfe Market Revenue, 2023-2030 ($M)
14.Spain Micronized Ptfe Market Revenue, 2023-2030 ($M)
15.Rest of Europe Micronized Ptfe Market Revenue, 2023-2030 ($M)
16.China Micronized Ptfe Market Revenue, 2023-2030 ($M)
17.India Micronized Ptfe Market Revenue, 2023-2030 ($M)
18.Japan Micronized Ptfe Market Revenue, 2023-2030 ($M)
19.South Korea Micronized Ptfe Market Revenue, 2023-2030 ($M)
20.South Africa Micronized Ptfe Market Revenue, 2023-2030 ($M)
21.North America Micronized Ptfe By Application
22.South America Micronized Ptfe By Application
23.Europe Micronized Ptfe By Application
24.APAC Micronized Ptfe By Application
25.MENA Micronized Ptfe By Application
26.E.I. Dupont De Nemours & Company, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.Daikin Industries Ltd., Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Solvay Sa, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.3M, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Chenguang Research Institute of Chemical Industry, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.Gujarat Fluorochemicals Limited, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.Shanghai 3F New Materials Company Limited, Sales /Revenue, 2015-2018 ($Mn/$Bn)