Polytetrafluoroethylene Coatings Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | < 6.00 % |
| Fastest Growing Market | North America |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Polytetrafluoroethylene Coatings Market Analysis
The market for polytetrafluoroethylene (PTFE) coatings is expected to grow at a CAGR of less than 6% during the forecast period. Major factors driving the market studied are enormous demand for non-stick applications in the food industry, an increase in demand for the manufacture of printed circuit boards and electrical cables
- Increasing the aerospace and defense industry is likely to act as an opportunity for the market.
- North America dominated the market across the globe with the largest consumption in a country such as the United States, Canada, etc.
Polytetrafluoroethylene Coatings Market Trends
This section covers the major market trends shaping the Polytetrafluoroethylene Coatings Market according to our research experts:
Oil and Gas Segment to Dominate to Market
- The combination of extremely low- and high-temperature stability favors the use of PTFE over a wider temperature range than any other coating material.
- PTFE coatings for the oil and gas sector provide reduced torque and galling levels, even after long-term exposure to corrosion.
- PTFE coatings are the materials of choice for the oil and gas industry, serving as linings for downhole tools, vessels, piping, pumps, valves, columns, column internals, hoses, expansion joints, seals and gaskets, sight glasses, venturi, vessels, tanks, mixers, stirrers, baffles, manhole covers, and product handling equipment, such as chutes.
- In OPEC Countries, a significant number of new investments have been planned, which are expected to be set in place by 2021. Almost eight million barrels per day (Mb/d) of potential refining projects in OPEC Member Countries have been planned and also implemented, with a relatively new surge in capacity additions from Iran alone.
- The market for PTFE coatings has significantly benefitted from the increasing investments in oil refineries. Additionally, with the expansion plans of current refineries, the demand for PTFE coatings is expected to increase during the forecast period, hence, benefitting the market to a great extent.
- For instance, Indian Oil has set a budget of INR 1.8 trillion, in order to expand its refineries and businesses over the next 5-7 years. This shall also be covering the expansion of its Panipat and Paradip refineries.
- Recently, Saudi Aramco took 100% control of Port Arthur Refinery, which processes nearly 600,000 barrels of oil per day, and is the largest refinery in North America.
- Additionally, Saudi Aramco held talks with Indian Oil to discuss its participation in a refinery in Maharashtra, with a capacity of 60 million metric tons a year.
- Petrol Corp., one of the leading Asian oil companies, invested USD 3.5 billion, in order to expand its refinery in Malaysia by 2020.
- This expansion is estimated to add 90,000 barrels per day, in its operations in Malaysia.
- All the aforementioned factors are likely to increase the demand for the market over the forecast period.
United States to Dominate the North America Region
- Development of shale gas has created a definitive advantage for US chemical manufacturing. Looking ahead over the next five years, production from the unprecedented investment in the US chemical manufacturing is expected to continue to come online, with the largest gains expected in 2018 and into 2019.
- With new capacity coming on stream, the production volumes is expected to increase by 5.2% in 2019 and 4.2% in 2020, followed by smaller gains in 2021 and 2022. Basic chemical exports, led by bulk petrochemicals and organics, as well as plastic resins, are likely to play a large role in expanding the production market of PTFE coatings.
- The United States is, both the world's largest oil-consuming nation and the largest natural gas consuming nation.
- Surging shale production is poised to push the United States oil output to more than 10 million barrels per day. The US government predicts that the nation’s production is expected to reach 11 million barrels a day, by late 2019, a level that would rival Russia, the world’s top producer, which provides a huge platform for the growth of the market studied.
- In addition, the non-stick cookware and food processing industries are further instrumental in creating an immense demand for PTFE coating market in the country.
Polytetrafluoroethylene Coatings Industry Overview
The polytetrafluoroethylene (PTFE) coatings market is partially consolidated. Some of the major players include 3M, Arkema Group, AGC Chemicals, Solvey, The Chemours Company, amongst others.
Polytetrafluoroethylene Coatings Market Leaders
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3M
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Arkema Group
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AGC Chemicals
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Solvay
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The Chemours Company
*Disclaimer: Major Players sorted in no particular order
Polytetrafluoroethylene Coatings Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Assumptions
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1.2 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Drivers
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4.1.1 Enormous Demand for Non-stick Applications in the Food Industry
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4.1.2 Increase in Demand for the Manufacture of Printed Circuit Boards (PCB) and Electrical Cables
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4.2 Restraints
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4.2.1 Rising Environmental Concerns and Stringent EPA Regulations
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4.2.2 Other Restraints
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4.3 Industry Value-Chain Analysis
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4.4 Porter's Five Forces Analysis
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4.4.1 Bargaining Power of Suppliers
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4.4.2 Bargaining Power of Consumers
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4.4.3 Threat of New Entrants
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4.4.4 Threat of Substitute Products and Services
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4.4.5 Degree of Competition
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5. MARKET SEGMENTATION
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5.1 Product Type
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5.1.1 Powder Coating
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5.1.2 Liquid Coating
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5.2 Application
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5.2.1 Food Processing
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5.2.2 Chemical Processing
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5.2.3 Oil and Gas
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5.2.4 Electrical and Electronics
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5.2.5 Building and Construction
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5.2.6 Medical
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5.2.7 Aerospace and Defense
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5.2.8 Other Applications
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5.3 Geography
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5.3.1 Asia-Pacific
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5.3.1.1 China
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5.3.1.2 India
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5.3.1.3 Japan
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5.3.1.4 South Korea
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5.3.1.5 Rest of Asia-Pacific
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5.3.2 North America
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5.3.2.1 United States
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5.3.2.2 Canada
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5.3.2.3 Mexico
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5.3.3 Europe
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5.3.3.1 Germany
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5.3.3.2 United Kingdom
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5.3.3.3 Italy
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5.3.3.4 France
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5.3.3.5 Rest of Europe
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5.3.4 South America
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5.3.4.1 Brazil
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5.3.4.2 Argentina
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5.3.4.3 Rest of South America
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5.3.5 Middle East & Africa
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5.3.5.1 Saudi Arabia
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5.3.5.2 South Africa
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5.3.5.3 Rest of Middle East & Africa
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6. COMPETITIVE LANDSCAPE
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6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
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6.2 Market Share Analysis**
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6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
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6.4.1 3M
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6.4.2 Arkema Group
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6.4.3 AGC Chemicals
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6.4.4 Daikin Industries Ltd
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6.4.5 DowDuPont
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6.4.6 Edlon
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6.4.7 Fluorocarbon Surface Technologies
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6.4.8 Hubei Everflon Polymer Co. Ltd
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6.4.9 Impreglon UK Ltd
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6.4.10 INOFLON
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6.4.11 Metal Coatings Corp.
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6.4.12 Praxair Surface Technologies Inc.
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6.4.13 PTFE Applied Coatings
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6.4.14 Solvay
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6.4.15 The Chemours Company
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6.4.16 Toefco Engineered Coating Systems Inc.
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6.4.17 Whitford Corporation
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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7.1 Increasing Aerospace and Defense Industry
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7.2 Other Opportunites
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Polytetrafluoroethylene Coatings Industry Segmentation
The polytetrafluoroethylene (PTFE) coatings market report includes:
| Product Type | |
| Powder Coating | |
| Liquid Coating |
| Application | |
| Food Processing | |
| Chemical Processing | |
| Oil and Gas | |
| Electrical and Electronics | |
| Building and Construction | |
| Medical | |
| Aerospace and Defense | |
| Other Applications |
| Geography | |||||||
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Polytetrafluoroethylene Coatings Market Research FAQs
What is the current Polytetrafluoroethylene (PTFE) Coatings Market size?
The Polytetrafluoroethylene (PTFE) Coatings Market is projected to register a CAGR of less than 6% during the forecast period (2024-2029)
Who are the key players in Polytetrafluoroethylene (PTFE) Coatings Market?
3M, Arkema Group, AGC Chemicals, Solvay and The Chemours Company are the major companies operating in the Polytetrafluoroethylene (PTFE) Coatings Market.
Which is the fastest growing region in Polytetrafluoroethylene (PTFE) Coatings Market?
North America is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Polytetrafluoroethylene (PTFE) Coatings Market?
In 2024, the Asia Pacific accounts for the largest market share in Polytetrafluoroethylene (PTFE) Coatings Market.
What years does this Polytetrafluoroethylene (PTFE) Coatings Market cover?
The report covers the Polytetrafluoroethylene (PTFE) Coatings Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Polytetrafluoroethylene (PTFE) Coatings Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Polytetrafluoroethylene (PTFE) Coatings Industry Report
Statistics for the 2024 Polytetrafluoroethylene (PTFE) Coatings market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. Polytetrafluoroethylene (PTFE) Coatings analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
