Dublin, Sept. 04, 2020 (GLOBE NEWSWIRE) -- The "Micronized PTFE Market - Growth, Trends, and Forecast (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The market for micronized PTFE (polytetrafluoroethylene) is expected to grow at a CAGR of over 4% globally during the forecast period. Growing demand for the thermoplastics and increasing demand from inks & coatings industries are driving the market. On the flip side, the rapidly growing digital media industry coupled with unfavorable conditions arising due to the COVID-19 outbreak are hindering the market growth.
Micronized PTFE market is expected to grow during the forecast period owing to the increasing demand from the inks and coatings application. Asia-Pacific region represents the largest market and is also expected to be the fastest-growing market over the forecast period owing to the increasing consumption from countries such as China, India, and Japan.
Key Market Trends
Growing Demand from Inks & Coatings Application
- Micronized PTFE is widely used in inks & coatings and is expected to be the fastest-growing market during the forecast period.
- Polytetrafluoroethylene (PTFE) is a synthetic fluoropolymer of tetrafluoroethylene. Micronized PTFE powder is the most popular additives used in various industrial coatings. Micronized PTFE offers better wear, rub and starch resistance. They provide matte surfaces and better abrasion. Additionally, PTFE is also used as non-stick coatings for cookware.
- Globally, the United States is the second-largest producer of paints and coatings. The growing demand for coatings from countries like the United States from sectors like household coatings and the construction sector are expected to drive the market.
- The growing infrastructure is expected to drive the market for paints & coatings. The Indian government has allocated USD 63 billion for the infrastructure sector in 2019-20 and is planning to spend USD 1.4 trillion over the next five years.
- Moreover, according to the National Development and Reform Commission of China, the Chinese government approved 26 infrastructure projects at an estimated investment of about USD 142 billion in 2019 which are expected to be completed by 2023.
- The growing demand from inks & coatings application from various industries such is expected to drive the market for the micronized PTFE during the forecast period.
Asia-Pacific Region to Dominate the Market
- The Asia-Pacific region is expected to dominate the market for micronized PTFE during the forecast period due to an increase in demand from countries like China, and India.
- Micronized PTFE is also used as additives in plastics, printing inks, and coatings to improve their starch, heat, wear, and abrasion resistance to the surfaces. They provide water resistance and guard the surfaces against various solvents and provide inertness to the surface.
- Printing inks are mainly used in the packaging industry. The growing e-commerce is expected to drive the market in India and China. India's packaging industry is the fifth-largest in the world and is growing at about 22-25% per year as per the Plastics Industry Association of India.
- The growing demand for e-commerce in China and India is expected to drive the market for ink additives during the forecast period. China's e-commerce market is dominated by Alibaba whose market share is around 59%. The company's annual revenue in FY 2019 has seen 51% year-on-year growth and the growing e-commerce industry which relies on the packaging is expected to drive the market during the forecast period.
- Lubricants are used for various heavy construction equipment, industrial equipment, and automobiles. India and China being global leaders in construction and leading producers in automobiles is expected to drive the market.
- The aforementioned factors, coupled with government support, are contributing to the increasing demand for micronized PTFE market in the Asia-Pacific during the forecast period.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Growing Demand for the Thermoplastics
4.1.2 Increasing Demand from Inks & Coatings Industries
4.2 Restraints
4.2.1 Rapidly Growing Digital Media Industry
4.2.2 Unfavorable Conditions Arising Due to COVID-19 Outbreak
4.3 Industry Value Chain Analysis
4.4 Porters Five Forces Analysis
5 MARKET SEGMENTATION
5.1 Application
5.2 Geography
6 COMPETITIVE LANDSCAPE
6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)/Ranking Analysis**
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 3M
6.4.2 Apar Industries Ltd
6.4.3 BYK-CHEMIE GMBH
6.4.4 Clariant
6.4.5 DEUREX AG
6.4.6 Fluorez Technology Inc
6.4.7 Micro Powders, Inc.
6.4.8 Nanjing Tianshi New Material Technologies Co., Ltd
6.4.9 Shamrock Technologies, Inc.,
6.4.10 Solvay
6.4.11 The Chemours Company
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/82a2kn
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.