According to a new report by Markets & Markets, “Micronized PTFE Market by Application (Inks, Thermoplastics, Coatings, Grease & Lubricants, Elastomers), by Geography - Global Forecast to 2019,” the market has a projected value of $868.29 million by 2019, signifying firm annualized growth of 7.06% between 2014 and 2019. Highlights from the report include:
Asia-Pacific – The biggest market of micronized PTFE
PTFE micro powder or micronized PTFE is made from virgin polytetrafluoroethylene resin or recycled PTFE scrap.
The micronized PTFE market in Asia-Pacific is one of the fastest-growing consumers across the globe and is expected to continue the trend in the near future. Asia-Pacific is the biggest market for micronized PTFE, and accounted for a share of more than 38.00% of the total market size in 2013 that was majorly contributed by China. It is estimated that India is the fastest-growing market of micronized PTFE in the region. The high growth in this region is mainly driven by growing population, vast economies–developed as well as developing, favorable investment policies, and government initiatives to promote industrial growth.
Thermoplastic – The fastest-growing market for micronized PTFE
Inks are the biggest application for the micronized PTFE market, followed by thermoplastic having a combined market share of around 66.0% of the total micronized PTFE used in 2013. Inks require different additives in order to achieve the right formulation for usage in different end-user industries. The selection of additives for inks is highly critical because any deviation from the required properties may result in entire formulation being destroyed. PTFE micro powders in inks are sought out for their value-added properties such as small particle size, abrasion/rub resistance, and blocking.
The U.S. and China are at forefront of PTFE micro powder consumption, while Germany, Japan, and the U.K. are other key markets for micronized PTFE consumption. China is the key market in Asia-Pacific, consuming more than half of the demand for PTFE micro powders, followed by Japan, South Korea, and India where consumption is growing at a steadily. Increase in the consumption of PTFE micro powders for inks, coatings, and thermoplastics has been observed in Asia-Pacific due to continued industrialization and rise in the manufacturing sector of the region. Thermoplastic is projected to be the fastest-growing application segment followed by grease & lubricants between 2014 and 2019. Inks are expected to witness a slow growth due to the growing digital media industry which is substituting the demand for printing ink products. PTFE micro powders in inks are sought out for their value-added properties such as small particle size, abrasion/rub resistance, and blocking.
