Market Trends of Micronized PTFE Industry
This section covers the major market trends shaping the Micronized PTFE Market according to our research experts:
Growing Demand from Inks and Coatings Application
- Micronized PTFE is widely used in inks and coatings, and it 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 nonstick 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 is 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, expected to be completed by 2023.
- The growing demand from inks and coatings applications from various industries is expected to drive the market for the micronized PTFE during the forecast period.
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Asia-Pacific to Dominate the Market
- The Asia-Pacific region is expected to dominate the market for micronized polytetrafluoroethylene (PTFE) during the forecast period due to an increase in demand from countries like China and India.
- Micronized PTFE is also used as an additive 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% Y-o-Y 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, are expected to drive the market.
- The factors mentioned above, coupled with government support, are expected to contribute to the increasing demand for the micronized PTFE market in the Asia-Pacific during the forecast period.
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