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Polytetrafluoroethylene (PTFE) Films Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

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  • 150 Pages
  • August 2022
  • Region: Global
  • Mordor Intelligence
  • ID: 4774948
The global polytetrafluoroethylene (PTFE) films market was estimated to be around USD 350 million in 2021, and the market is expected to register a CAGR of less than 5% during the forecast period 2022-2027.

The market was negatively impacted by the COVID-19 outbreak in 2020. However, the market is now estimated to have reached pre-pandemic levels and is expected to grow steadily over the forecast period.
  • Over the medium term, the growing demand from the electrical and electronics industry and rising demand for pharmaceutical packaging are expected to drive the market growth of polytetrafluoroethylene (PTFE) films in the years to come.
  • Asia-Pacific dominates the global market, with the largest consumption from countries such as China, Japan, India, and ASEAN countries.
  • Growth in electric vehicle penetration is expected to act as a growth opportunity for the market during the forecast period.

Key Market Trends

Electrical and Electronics Industry to Observe the Highest Growth

  • PTFE films exhibit excellent dielectric properties with outstanding thermal and chemical resistance. Moreover, these films offer high tensile strength, weatherability, anti-static properties, and load-bearing ability in heavy structures.
  • Such properties of PTFE films make it an extensively preferred material for application in the electrical and electronics industry. High-performance PTFE films are used in the production of integrated circuits and as dielectric components in energy storage devices like capacitors and batteries.
  • PTFE films are extensively used in semiconductor processing, where PTFE thin films are used on silicon wafers. Besides, they also find applications in cables and wires used in the telecommunication industry.
  • According to Japan Electronics and Information Technology Industries Association (JEITA), the total global production by the electronics and IT industries was expected to rise 11% year-on-year in 2021 to reach USD 3,360.2 billion. The spread of telework and increased stay-at-home boosted demand for electronic equipment. Solution services grew as more investments in digitalization promoted more sophisticated data use. The demand for polycarbonates used in the electronics segment is also expected to increase.
  • The Asia-Pacific electronic industry has grown rapidly in the recent past owing to high demand from countries like India and China. China is a strong, favorable market for electronics producers, owing to the country’s low labor cost and flexible policies.
  • Global production by Japanese electronics and IT companies has continued to decrease since the USD 479.8 billion recorded in 2011, with the USD 343.6 billion figure for 2021 representing only around 70% of the production in 2011. However, the strong export performance of electronic components and devices and the growth in telecommunications infrastructure equipment is expected to drive the electrical and electronics segment in Japan.
  • Hence, based on these factors, the electrical and electronics industry is expected to observe the highest growth in the market.

Asia-Pacific Region Dominates the Market

  • The Asia-Pacific region dominates the global market. Owing to the increasing demand from pharmaceutical packaging and the electrical and electronics industry, PTFE films are expected to witness a healthy growth rate in the region.
  • According to the Indian government, large projects for manufacturing PTFE film-coated electronic chips, with a view to creating an ecosystem that focuses on high-end innovation, are likely to boost demand for the market studied.
  • The Indian electronics market is expected to reach USD 400 billion by 2025. Additionally, India is expected to become the fifth-largest consumer electronics and appliances industry globally by 2025, which is expected to boost the market demand for PTFE films.
  • Under the ‘Made in China 2025’ plan, China is likely to supply over 10% of homemade commercial aircraft to the domestic market by 2025. This is expected to propel the demand for PTFE films in the aerospace sector during the forecast period.
  • Moreover, Japan plans to increase its defense strength to keep China’s increasing air force capability at bay. In March 2020, the country was observed taking the initiative toward military modernization, for which it authorized USD 102 million. This budget is planned to be dedicated to “Japan-led development of a new aircraft with international collaborations.”
  • Thus, owing to the aforementioned factors, the Asia-Pacific region is expected to dominate the market.

Competitive Landscape

The polytetrafluoroethylene (PTFE) films market is fragmented, with the top five players accounting for a 45-50% market share. Key players in the market include Nitto Denko Corporation, Rogers Corporation, Lenzing Plastics GmbH & Co. KG, 3M, and Saint-Gobain Performance Plastics.

Additional Benefits:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support

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Table of Contents

1.1 Study Assumptions
1.2 Scope of the Study
4.1 Drivers
4.1.1 Growing Demand from Electrical and Electronics Industry
4.1.2 Rising Demand for Pharmaceutical Packaging
4.2 Restraints
4.2.1 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5.1 Process
5.1.1 Cast
5.1.2 Skived
5.1.3 Extruded
5.2 End-user Industry
5.2.1 Medical and Pharmaceuticals
5.2.2 Electrical and Electronics
5.2.3 Industrial (Chemical Processing Industry and Engineering)
5.2.4 Aerospace and Defense
5.2.5 Automotive
5.2.6 Other End-user Industries
5.3 Geography
5.3.1 Asia-Pacific China India Japan South Korea ASEAN Countries Rest of Asia-Pacific
5.3.2 North America US Canada Mexico
5.3.3 Europe Germany UK France Italy Spain Rest of Europe
5.3.4 South America Brazil Argentina Rest of South America
5.3.5 Middle-East and Africa Saudi Arabia South Africa Rest of Middle-East and Africa
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%) Analysis**/ Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 3M
6.4.2 Chukoh Chemical Industries Ltd
6.4.3 DUNMORE Corporation
6.4.4 Guarniflon SpA
6.4.5 Jiangsu Taifulong Technology Co. Ltd
6.4.6 Jiangxi Aidmer Seal and Packing Co. Ltd
6.4.7 Lenzing Plastics GmbH & Co. KG
6.4.8 Ningbo Taifno PTFE Plastic Products Corporation
6.4.9 Nitto Denko Corporation
6.4.10 Polyflon Technology Ltd
6.4.11 Rogers Corporation
6.4.12 Saint-Gobain Performance Plastics
6.4.13 Technetics Group
7.1 Increasing Electric Vehicles Penetration

Companies Mentioned

A selection of companies mentioned in this report includes:

  • 3M
  • Chukoh Chemical Industries Ltd
  • DUNMORE Corporation
  • Guarniflon SpA
  • Jiangsu Taifulong Technology Co. Ltd
  • Jiangxi Aidmer Seal and Packing Co. Ltd
  • Lenzing Plastics GmbH & Co. KG
  • Ningbo Taifno PTFE Plastic Products Corporation
  • Nitto Denko Corporation
  • Polyflon Technology Ltd
  • Rogers Corporation
  • Saint-Gobain Performance Plastics
  • Technetics Group