By the end of this decade, global consumption of polytetrafluoroethylene (PTFE) is expected to increase to 524.1 kilo tons. Meanwhile, sales are forecast to rise at a compound annual rate of 8.1% between 2013 and 2020, meaning that revenues will grow from about $3.47 billion in 2012 to $6.44 billion in 2020.
This is according to a new report from market analytics firm Grand View Research, which believes that the Asia-Pacific will retain its leading position among regional markets. By 2020 this region will be responsible for more than 37% of global PTFE consumption. In North America demand will increase at a compound annual rate of 9.3%, reaching 155.7 kilo tons by the end of the forecast period. When it comes to leading companies in the PTFE space, Grand View Research lists DuPont, Daikin, Solvay, 3M and Arkema as the key players.
With regard to market stimulants, the report points to several factors anticipated to drive demand in the years ahead. Among them is steadily growing demand for non-stick cookware. PTFE consumption is also expected to receive a major boost from the automotive industry, where demand is driven mainly by wire and cable coating solutions. On the other hand, certain factors will prevent the PTFE market from growing at a faster pace. The list of inhibitors includes volatility in fluorspar supply and environmental issues related to perfluorooctanoic acid (PFOA), Grand View Research adds.