Increase in Demand for the Manufacture of Printed Circuit Boards (PCB) and Electrical Cables
The high-frequency material that is highly use for PCB laminates is polytetrafluoroethylene (PTFE), which is a synthetic thermoplastic fluoropolymer that has excellent dielectric properties at microwave frequencies. Printed circuit boards (PCBs) are deployed in almost all electronic products, ranging from consumer gadgets such as PCs, tablets, smartphones and gaming consoles to industrial and even high-tech products in the strategic and medical electronics domains. The rapid growth of Internet of Things (IoT) devices represents an unprecedented opportunity for the PCB assembly industry. The huge market size for Printed Circuit Board (PCB) market (USD 62.1 billion, according to World PCB Production Report, 2017) ignites the demand for the PTFE coatings market. As one of the best known insulators, PTFE is frequently used in electrical components globally for its ability to insulate up to 500 volts per mil with unyielding reliability in even the most strenuous applications. PTFE coated wires found applications in virtually every industry from mobile devices to advanced, high-tech machinery. It is often used as wire and cable wrap, as a separator on the conductive surfaces in capacitors, and in a limitless range of electrical applications where components are expected to withstand the elements. With modern electronic manufacturers continually creating smaller, more portable advanced electronics, a cost efficient and reliable source for PTFE coated wire has been more of paramount significance.
Oil and Gas Application Segment to Contribute Significant Demand to the Market
The combination of extreme 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. These coatings are the materials of choice for the oil and gas industry, serving as linings for down-hole tools, vessels, piping, pumps, valves, columns, column internals, hoses, expansion joints, seals and gaskets, sight glasses, vessels, tanks, mixers, strirrers, 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 8 million barrels per day (mb/d) of potential refining projects in OPEC Member Countries are already 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 expand businesses over the next 5-7 years. This shall also be covering the expansion of their Panipat and Paradip refineries. Adding to it, Hindustan Petroleum Corporation (HPCL) has been negotiating on buying 49% stake in Russia's Vankor Cluster oil fields in the Arctic region. All these projects are likely to provide an immense demand for the PTFE coatings market.
North America to Dominate the Market
North America accounted the second largest regional market share for global polytetrafluoroethylene (PTFE) coatings market in 2017. This immense demand for polytetrafluoroethylene (PTFE) coatings is a consequence of the growing trends of fiber optics, chemical processing and oil & gas industries in the region. In the region, United States accounted the major market for the polytetrafluoroethylene (PTFE) coatings with more than 75% of the regional market share in 2017. 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 US chemical manufacturing will continue to come online, with the largest gains expected in 2018 and into 2019. This scenario will increase the demand for polytetrafluoroethylene (PTFE) coatings in the nearby future. The large market size coupled with the huge growth of North America is quite instrumental in expansion of the global polytetrafluoroethylene (PTFE) coatings market.
Key Developments in the Market
May 2018: AGC Chemicals Europe is a leading manufacturer of fluoropolymers is presenting current developments and applications of its comprehensive product range of Fluon fluoropolymers at Achema 2018.
Major Players: The Chemours Company, Metal Coatings Corp, AGC Inc., DAIKIN INDUSTRIES, Ltd., 3M (Dyneon GmbH), DowDuPont, Toefco Engineered Coating Systems, Inc. and Solvay, among others.
Reasons to Purchase this Report
Identify the current and future prospects of the global polytetrafluoroethylene (PTFE) coatings market in the developed and emerging markets
Analyze various perspectives of the market with the help of Porter’s five forces analysis
Information about the growth of the various product segments that are expected to dominate the market
Identify the region that is expected to dominate the market over the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players
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1.1 Scope of the Report
1.2 Market Definition
1.3 Study Assumptions
1.4 Study Deliverables
1.5 Research Phases
2. Executive Summary
3. Market Insights
3.1 Industry Value-Chain Analysis
3.2 Industry Attractiveness – Porter’s Five Forces Analysis
3.2.1 Bargaining Power of Suppliers
3.2.2 Bargaining Power of Consumers
3.2.3 Threat of New Entrants
3.2.4 Threat of Substitute Products and Services
3.2.5 Intensity of Competitive Rivalry
3.3 Regulation Analysis
3.4 Price Analysis
4. Market Dynamics
4.1.1 Enormous Demand for Non-Stick Applications in Food Industry
4.1.2 Increase in Demand for the Manufacture of Printed Circuit Boards (PCB) and Electrical Cables
4.1.3 Augmenting Demand for Chemical Process Vessels and Chemical Seals & Diaphragms
4.1.4 Other Drivers
4.2.1 Volatility in the Prices of Feedstock.
4.2.2 Other Restraints
4.3.1 Growing Prominence of PTFE Coatings in the Semiconductors of Electronic Appliances
4.3.2 Gaining Popularity as an Excellent Candidate for Military and Aerospace Applications
5. Market Segmentation and Analysis (Market Size, Forecast & CAGR)
5.1 By Product Type
5.1.1 Powder Coating
5.1.2 Liquid Coating
5.2 By Application
5.2.1 Cookware and Food Processing
5.2.2 Chemical Processing
5.2.3 Oil and Gas
5.2.4 Electrical & Electronics
5.2.5 Building & Construction
6. Regional Market Analysis (Market Size, Forecast & CAGR)
6.1.4 South Korea
6.1.5 ASEAN Countries
6.1.6 Rest of Asia-Pacific
6.2 North America
6.2.1 United States
6.2.4 Rest of North America
6.3.2 United Kingdom
6.3.6 Rest of Europe
6.4 South America
6.4.3 Rest of South America
6.5 Middle-East and Africa
6.5.1 Saudi Arabia
6.5.2 South Africa
6.5.3 Rest of Middle-East and Africa
7. Future of the Market
8. Competitive Landscape
8.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
8.2 Market Share Analysis**
8.3 Strategies Adopted by Leading Players
9. Company Profiles (Overview, Financials**, Products & Services, and Recent Developments)
9.1 3M (Dyneon GmbH)
9.3 AGC Inc.
9.4 DAIKIN INDUSTRIES, Ltd
9.7 Fluorocarbon Surface Technologies
9.8 Hubei Everflon Polymer CO., Ltd
9.9 Impreglon UK Limited
9.11 Marcote UK LTD
9.12 Metal Coatings Corp
9.13 Praxair Surface Technologies Inc.
9.14 PTFE Applied Coatings
9.16 The Chemours Company
9.17 Toefco Engineered Coating Systems, Inc.
9.18 Whitford Corporation
*list not exhaustive
** Subject to availability on public domain
- 3M Company (Dyneon GmbH)
- AGC Inc.
- DAIKIN INDUSTRIES Ltd
- Fluorocarbon Surface Technologies
- Hubei Everflon Polymer CO. Ltd
- Impreglon UK Limited
- Marcote UK LTD
- Metal Coatings Corp
- Praxair Surface Technologies Inc.
- PTFE Applied Coatings
- The Chemours Company
- Toefco Engineered Coating Systems Inc.
- Whitford Corporation