POLYTETRAFLUOROETHYLENE (PTFE) MARKET ANALYSIS
Market Outlook
On the basis of region, the global polytetrafluoroethylene market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. Asia Pacific is expected to be the fastest growing region in the global polytetrafluoroethylene market over the forecast period, owing to increasing demand for PTFE in emerging economies such as China and India. Moreover, growing automotive industry in the region is expected to increase demand for PTFE. This is due to rising demand for lightweight automotive materials from PTFE manufacturers. According to Coherent Market Insights’ analysis, the production of passenger vehicles, trucks, and buses in South Asia increased by around 3.0% and reached 9.2 million units in 2017. Also, vehicle production in China increased by 3.5% and accounted for 29.5 million units in 2017.
Increasing technological advancements for end products is projected to increase demand for PTFE in North America and Europe over the forecast period. Africa, Latin America, and the Middle East are showing rapid economic and industrial growth over the past few years.
Polytetrafluoroethylene (PTFE) Market Report Snapshots
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