Market Insights

Polytetrafluoroethylene (PTFE) was inadvertently discovered by DuPont in 1938. It has become the most widely used fluoropolymer in the world with its usages in various industries, such as oil & gas, electronics & telecommunication, automotive, and food & beverages, and pharmaceuticals.; as it offers excellent properties, such as dielectric, low friction, hydrophobic, non-wetting, high density, and high-temperature resistance. With regards to the growing needs of the industry, such as lightweight, cost-effective, pliable; W.L. Gore & Associates experimented with PTFE, to increase its applications by improving its properties with the help of the heating process. Gore has implemented heating the PTFE rods and then gradually pulling it from either end. After many iterations, Gore had finally discovered expanded PTFE in the year 1969.

The expanded PTFE exhibits several properties and benefits over PTFE such as excellent resistance to cold flow and creep, high compressibility, low dielectric constant, low coefficient of friction, non-flammability, and a wide service temperature range of -240°C to 250°C. Owing to such fruitful properties, expanded PTFE has witnessed a remarkable growth in the market with an incessant increase in its applications in different end-use industries, such as medical, textiles, aerospace & defense, automotive, industrial, and chemical.

The COVID-19 pandemic has devastated the market by disrupting the growth trajectory of several end-use industries. The pandemic has exacerbated the existing challenges of already struggling automotive and aerospace industries with the delays in B737 max approval, production halts, and curtailment in production rates. Also, the lockdown in several major countries to contain the spread of COVID-19 has marked an indelible dent in the market growth, making complete recovery almost negligible in the remaining quarter of 2020.

However, there are a few industries that remain unaffected/negligibly affected by the COVID-19 out of which major ones are medical, food & beverages, and electrical & electronics. Healthy organic growth of these industries, especially medical devices and electronics, is expected to partially offset the overall decline of the market in 2020.

To assess the real impact of the pandemic on the expanded PTFE market in short term as well as long term is extremely challenging at the present scenario as the pandemic is still spreading, taking the major economies in its grip and further deteriorating the market conditions. It is difficult to state that when the impact of the pandemic starts to fade away. However, the industry is still an optimist about the quick recovery of the market, and it is anticipated that the market will log a V-shaped curve similar to previous downturns, such as the Great Recession. But the curve of the V-shape would be deeper than the ones registered in the Great Recession with huge short-term repercussions and minimal long-term impact.

Strong fundamentals of the market, such as expected recovery in the global GDP by 2021, incessant adoption of EVs in the world, and expected recovery in airline passenger traffic coupled with market entries of new aircraft programs: B777X, C919, MC-21, A321XLR, and expected approval of B737Max; is likely to signpost a healthy recovery of the market once the headwinds of the pandemic turns into tailwinds. Thus, the expanded PTFE market is projected to recover at a healthy pace over the next five years to reach an estimated value of US$ 0.7 billion in 2025.

Segments' Analysis

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Expanded PTFE Market by Form Type

Based on the form type, the market is segmented as sheets, tapes, membranes, fibers, and others. Membranes are likely to remain the most dominant as well as the fastest-recovering form type in the post-pandemic market scenario, owing to its extensive usage in the medical industry for applications such as ostomy bags, hearing aids, IV infusion filters, and surgical suction filters.

Expanded PTFE Market by Application Type

Based on the application type, the market is segmented as gaskets, filtration & separation, dielectric materials, and others. Filtration & Separation is likely to maintain its dominance in the market during the forecast period. The dominance is majorly due to wide usage of expanded PTFE for filtering air, water, and other particles in turbine engines, drug discovery, and bioprocessing; filtering fogs from headlights of a vehicle; and venting gas from compression packings and medical applications, such as IV filter vent and ventilation, coupled with increasing penetration of ePTFE for filtration application in various industries, such as food packaging, pharmaceuticals, and metals & mining.

Expanded PTFE Market by End-Use Industry Type

Based on the end-use industry type, the market is segmented as chemical, ground transportation, medical, industrial, aerospace & defense, and others. Among them, aerospace & defense and automotive are the-worst affected industries due to the pandemic, whereas medical is the least-affected one. The medical industry is also likely to remain the most dominant as well as the fastest-growing end-use industry type in the expanded PTFE market over the next five years. Expandable PTFE is widely accepted by medical device manufacturers in offering tailor-made properties with better biocompatibility than metallic biomaterials. Biocompatibility, chemically inert, and sterilizable are the three key properties of ePTFE due to which it is highly preferred for various applications in the medical industry.

Regional Insights

In terms of region, North America is projected to remain the largest market for expanded PTFE during the forecast period. The USA is not only the largest market of North America but also in the world, owing to the presence of a large number of medical device manufacturers, aircraft OEMs, tier players, raw material suppliers, and expanded PTFE manufacturers. The country is also one of the most affected nations by the COVID-19 with having the largest number of positive cases in the world. It is also expected that the country to recover at a healthy rate, backed by the organic growth of the medical industry, expected recovery in the automobile and aircraft production, and advancements in medical devices.

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Asia-Pacific is expected to be the least-declined market in 2020, followed by the fastest recovery over the next five years, propelled by an expected recovery in air passenger traffic with early recovery in domestic travel and expected recovery in automotive production with a higher focus on adopting HEVs. China and India to be the growth engines of Asia-Pacific’s market as they are the largest markets for automotive, chemical, industrial, electrical & electronics as well as owning a considerable share in the other end-use industries.

Market Scope & Segmentation

The expanded PTFE market is segmented into the following categories.

Expanded PTFE Market Size, Share & Forecast, by Form Type

• Sheets (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Tapes (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Membranes (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Fibers (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Expanded PTFE Market Size, Share & Forecast, by Application Type

• Gaskets (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Filtration & Separation (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Dielectric Materials (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Expanded PTFE Market Size, Share & Forecast, by End-Use Industry Type

• Chemical (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Ground Transportation (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Medical (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Industrial (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Aerospace & Defense (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Expanded PTFE Market Size, Share & Forecast, By Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)

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Key Players

The supply chain of this market comprises raw material suppliers, expanded PTFE manufacturers, distributors, and end-users.

Some of the key players in the expanded PTFE market are-

• W.L. Gore & Associates, Inc.
• Lenzing Plastics GmbH & Co. KG
• Compagnie de Saint-Gobain S.A.
• Nitto Denko Corporation
• Rogers Corporation
• Donaldson Company, Inc.
• Markel Corporation
• Parker-Hannifin Corporation
• Teadit Group
• Zeus Industrial Products, Inc.

The key end-users of these markets include medical device manufacturers, aircraft OEMs, automotive manufacturers, chemical industry, oil & gas manufacturers.

Research Methodology

For calculating the market size, our analysts follow either Top-Bottom or Bottom-Top approach or both, depending upon the complexity or availability of the data points. Our reports offer high-quality insights and are the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. We leverage multitude of authenticated secondary sources, such as company annual reports, government sources, trade associations, journals, investor presentation, white papers, and articles to gather the data. More than 10 detailed primary interviews with the market players across the value chain in all four regions and industry experts are usually executed to obtain both qualitative and quantitative insights.

Report Features

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s expanded PTFE market realities and future possibilities for the forecast period 2020 to 2025. The report estimates the short- as well as long-term repercussions of the COVID-19 pandemic on the demand for ePTFE at the global-, regional-, as well as country-level. Also, the report provides the possible loss that the industry will register by comparing pre-COVID and post-COVID scenario. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of low-hanging fruits available in the market as well as formulate growth strategies

 The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the form types by application type

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

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