The Asia Pacific Region Continues To Dominate The PTFE Market and it’s Growing.
In fact, according to an ongoing report from Mordor Intelligence, they expect the Compound Annual Growth Rate to increase 5% in the future forecast period. (2019- 2024)
For the industry, (and ourselves) this can only be good news.
Which begs a couple of questions…
Why is growth happening?
In the bigger picture of non-stick coatings, PTFE in chemical and industrial processing has dominated the market for the longest time.
Now, listing ALL the applications of PTFE would take too long so just to give you an idea of the scale of use you only have to look at oil and gas production.
The processes involved are usually in harsh environments, which only highly resistant materials like PTFE are suitable for the purpose.
And since these chemical and industrial processes are on the rise, the use of PTFE is expected to grow also driving the demand in the market during the forecast period.
The dominating market in the Asia Pacific is the market of China. Some of the largest oil and gas importers around the world are based in this country.
Operators like Petrochemical Corp, China Offshore Oil Corp, and China National Petroleum Corporation.
Since they are the main controlling body in the business, private companies had less chance of success. So, the system has been reformed in a way to help out these smaller companies thus raising the demand for PTFE.
However, it is not only the Chinese industries that will boost PTFE demand in the market. Japanese companies have a fair contribution to this as well.
Globally the Japanese are known for electronics and electrical equipment. They produce cameras, computers, photocopiers, compact discs, cell phones and many other products. All these goods need PTFE in the manufacturing process raising the demand even further.
What Does That Mean For Product Release?
The increase in the global market of PTFE can only be a good thing where we are concerned. We know we have the facilities and know-how to cope with this increased demand and look forward to fulfilling our clients’ needs whatever they may be.
If you would like to know more about how Product Release could help your industry, please don’t hesitate to contact one of our experts, who can discuss your problem and recommend an innovative solution that will not only help you now but will minimise future damage or repairs, giving you peace of mind.