The global polychlorotrifluoroethylene market size was estimated at USD 478.6 million in 2016, growing at a CAGR of 4% over the forecast period. Superior properties exhibited by polychlorotrifluoroethylene (PCTFE) over its counterparts including improved moisture protection as well as temperature resistance are expected to propel demand across end-use industries.
The PCTFE market will see a significant growth driver in the future as the product is increasingly used in aerospace to make valve seats, impellers, diaphragms and plugs. Polychlorotrifluoroethylene resins are gaining high demand for manufacturing moisture barrier coatings, which are increasingly used in drug manufacturing, thus promoting its use over the forecast period.
The pharmaceutical industry is expected to play a significant role in the U.S. The U.S. government is likely to increase its investments to lower drug imports, which will in turn boost the country's growth potential over the forecast period.
Due to an increase in raw materials prices in 2015, the product saw a substantial price increase. This prompted end-use industries and manufacturers to raise their product prices. However, prices stabilized in 2016 and will likely continue this trend over the forecast period due to stable polymer prices.
New entrants will face major challenges due to the dominance of Daikin Industries Ltd., a leading industry player. High product costs limit its potential in end-use markets, making it a major concern for investors new to the PCTFE sector.
High penetration of existing substitutes such as polytetrafluoroethylene (PTFE), chlorotrifluoroethylene (CTFE), and ethylene tetrafluoroethylene (ETFE) is likely to be a threat to the market. The product's superior resistance, toughness and tensile strength will likely allow the industry to combat this threat for the duration of the forecast period.
Due to their use in the pharmaceutical industry, PCTFE films are expected to see a 4.5% increase in demand from 2017-2025. The product is also used in blister packaging, which will likely drive demand during the forecast period.
PCTFE-based tubes and wires are extremely resistant to cold flow and have excellent dimensional stability over a wide temperature range. They are also resistant to moisture, low gas permeability and high rigidity. This makes them ideal for use in all end-use industries.
In 2016, the PCTFE coatings market was worth USD 103.3 millions. These coatings have superior properties like weather resistance, corrosion resistance and chemical resistance. This is why these coatings are expected to be in high demand in industrial applications.
Another use of PCTFE is in the manufacture of rods, waxes and oils. These products can be found in many fields, including high-pressure vacuum plants and automotive components.
In 2016, the pharmaceutical segment was worth USD 104.3 millions. This is because the product can resist medicines against temperature and UV radiation. Furthermore, growth in pharmaceutical manufacturing in emerging economies on account of rising consumer health awareness is likely to positively impact the polychlorotrifluoroethylene market.
Aerospace accounted for 36.2%. Because of its light weight and durability, the product is highly sought after in aerospace manufacturing.
PCTFE products can be used in laboratory instruments, cryogenic processing equipment, nuclear plants and other radiation-prone equipment. PCTFE products are highly sought after because of their superior thermal and chemical resistance.
From 2017 to 2025, Asia Pacific's demand is expected to grow at a 4.5% CAGR. Industry growth is being driven by the growing aerospace, electronics and pharmaceutical industries as well as large investments in R&D that aim to improve efficiency and product performance.
China was Asia's largest market, accounting for 43.6% in regional demand in 2016. China was the second-largest manufacturer of pharmaceutical ingredients in 2017 and the second-largest market for medicines worldwide. Industry growth is expected to be driven by high investments made by the Chinese government in drug production to meet rising domestic demand. The rapid expansion of the U.S. aerospace industry has fueled North America's growth. The market has also been benefited by the presence of major aerospace companies like Lockheed Martin, Boeing, and Airbus. The U.S. aerospace market was worth USD 25.9million in 2016, in terms of revenue.
In 2016, around 10.0% of global market share was held by Central, South America, Middle East and Africa. These regions will experience slower growth than the rest due to their lower use in different industries. PCTFE market growth has been slowed by low penetration of the product that can replace traditional fluoropolymers.
Companies like Arkema, Daikin Industries Ltd., E. I. du Pont de Nemours and Company, and Honeywell International Inc. have taken steps to increase production capacity in order to meet increasing demand.
As of 2017, Daikin Industries, Ltd. is the largest supplier of polychlorotrifluoroethylene in the world. It is a producer and distributor of PCTFE tubes, wires, and films. The company's operations are integrated throughout the value chain.
The report provides a forecast of revenue and volume growth at the global, regional and country level. It also analyzes the most recent industry trends for each sub-segment from 2014 through 2025. For the purpose of this study, Up Market Research has segmented the global polychlorotrifluoroethylene market report based on application, end use, and region.
App Outlook (Revenue USD Million, 2014-2025)
Films
Tubes & Wires
Coatings
End-use Outlook (Revenue USD Million, 2014-2025)
Pharmaceutical
Electrical & Electronics
Aerospace
Other
Regional Outlook (Revenue USD Million, 2014-2025)
North America
The U.S.
Europe
The U.K.
Germany
Asia Pacific
China
India
Central & South America
Brazil
Middle East & Africa
b. The global polychlorotrifluoroethylene (PCTFE) market is expected to grow at a compound annual growth rate of 4.0% from 2017 to 2025 to reach USD 683.1 million by 2025.
Which segment accounted for the largest polychlorotrifluoroethylene market share?b. Aerospace application segment dominated the polychlorotrifluoroethylene (PCTFE) market with a share of 35.7% in 2019. This can be attributed to the increasing demand for plugs, diaphragms and valve seats in aerospace applications due to its lightweight and durability.
Who are the key players in polychlorotrifluoroethylene market?b. Some key players operating in the polychlorotrifluoroethylene (PCTFE) market include Daikin Industries Ltd.; Arkema; E. I. du Pont de Nemours and Company; and Honeywell International Inc.
What are the factors driving the polychlorotrifluoroethylene market?b. Market growth is driven by rising demand for laboratory instruments, cryogenic processing equipment and nuclear plants due to their superior thermal and chemical resistance.
How big is the polychlorotrifluoroethylene market?b. The global polychlorotrifluoroethylene (PCTFE) market size was estimated at USD 537.3 million in 2019 and is expected to reach USD 558.8 million in 2020.
Up Market Research published a new report titled “Polychlorotrifluoroethylene Market research report which is segmented by Application (Coatings, Films, Wires & Tubes), by End Use (Electrical & Electronics, Aerospace, Pharmaceutical), By Players/Companies Daikin Industries Ltd; Arkema; E I du Pont de Nemours and Company; and Honeywell International Inc”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Attributes | Report Details |
Report Title | Polychlorotrifluoroethylene Market Research Report |
By Application | Coatings, Films, Wires & Tubes |
By End Use | Electrical & Electronics, Aerospace, Pharmaceutical |
By Companies | Daikin Industries Ltd; Arkema; E I du Pont de Nemours and Company; and Honeywell International Inc |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 240 |
Number of Tables & Figures | 168 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Application (Coatings, Films, Wires & Tubes), by End Use (Electrical & Electronics, Aerospace, Pharmaceutical).
Polychlorotrifluoroethylene Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Polychlorotrifluoroethylene Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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