The PTFE films market is projected to reach USD 542.6 million by 2022, at a CAGR of 4.4% during the forecast period. This growth can be attributed to the increasing demand for PTFE films in the medical & pharmaceuticals, chemical processing, and electronics & electrical industries. Unique properties of PTFE films such as chemical inertness, high temperature tolerance, non-flammability, and high insulation are contributing to the increased use of these films in high-end applications.
PTFE is a chemically inert material, owing to the strong bond between carbon and fluorine atoms. Excellent dielectric properties with high temperature and chemical tolerance make PTFE films a preferred choice in the manufacturing of integrated circuits.
Based on technology, the cast segment of the PTFE films market is projected to grow at the highest CAGR during the forecast period. Cast PTFE films are manufactured by depositing, sintering, and merging several thin PTFE films. Moreover, cast PTFE films are designed to withstand extreme thermal and chemical conditions, and thus, these films are increasingly used in highly corrosive applications. Cast PTFE films have a high elongation limit and do not fade or change color when stretched. They are used in the development of aerospace components and wires & cables as well as in chemical processing and composite manufacturing.
The use of PTFE films in the medical industry is growing at a rapid pace. Properties of PTFE such as biocompatibility, lubricity, and chemical inertness are contributing to the increased demand for PTFE films in the medical industry. The hydrophobic nature of PTFE films makes it a suitable material for the development of surgical gowns, surgical towels, protective gowns, and disinfection equipment package materials.
The PTFE films market in the Asia Pacific region is expected to witness the highest growth over the next 5 years. Increasing population, coupled with a surge in demand for PTFE films in chemical processing and electrical & electronics applications is expected to drive the growth of the PTFE films market in the Asia Pacific region. Several international players have established their manufacturing facilities in this region, owing to easy availability of raw materials, cheap labor, and favorable government policies. This, in turn, is contributing to the growth of the PTFE films market in the Asia Pacific region.
