Global Polychlorotrifluoroethylene (PCTFE) Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2029
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Global Polychlorotrifluoroethylene (PCTFE) Market Overview:
“The global Polychlorotrifluoroethylene (PCTFE) Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”
Polychlorotrifluoroethylene is a thermoplastic chlorofluoropolymer with the molecular formula, where n is the number of monomer units in the polymer molecule. It is similar to polytetrafluoroethylene, expect that this is a homopolymer of the monomer chlorotriflouroetheylene instead of tetrafluoroethylene.
A factor that is likely to be a positive growth factor for the PCTF market is that it is used in the manufacture of plugs, valve seats, impellers, and diaphragms in the aerospace industry. There is an increasing demand for polychlorotrifluoroethylene resins to manufacture moisture barrier coatings which are widely used in drug manufacturing. Superior characteristics exhibited by PCTFE such as improved moisture protection and temperature resistance are projected to fuel demand across end-use industries in the coming years.
Pharmaceutical manufacturing is expected to receive a boost due to heavy investments made by the US government to reduce drug imports, and this is subsequently expected to surge market growth in the foreseeable future. The acceptance of substitutes such as polytetrafluoroethylene (PTFE), ethylene tetrafluoroethylene (ETFE), and chlorotrifluoroethylene (CTFE) may pose a threat to the PCTFE market. However, the superior toughness, abrasion, resistance, and high tensile strength offered by PCTFE will likely be able to counter this threat.
In terms of application, the market is segmented into films, wires & tubes, and coatings among others. The PCTFE film segment is expected to expand at a high CAGR over the next ten years. This is on account of their exhaustive usage in the pharmaceutical and blister packaging industries.
The demand for PCTFE coatings in industrial applications is projected to grow on account of their superior qualities such as low moisture absorption, high rigidity, good transparency, and low gas permeability.
With respect to end-use, the aerospace segment accounted for the majority revenue share due to the lightweight and durability of PCTFE.
The Asia Pacific market is expected to expand at a high CARG over the foreseeable future due to its growing electronics, aerospace and pharmaceutical industries. China accounted for the majority revenue share of the Asia Pacific market.
This is due to them being the second-largest market for medicines in the world and the largest manufacturer of pharmaceutical ingredients. Growth of the market in North America can be accredited to its established aerospace industry, with the presence of key players such as Lockheed Martin, Airbus, and Boeing. Latin America, the Middle East & Africa collectively accounted for a reasonable share of the market.
Global Polychlorotrifluoroethylene (PCTFE) Market Segmentation:
Global Polychlorotrifluoroethylene (PCTFE) market segmentation, by Application:
- Wires & Tubes
Global Polychlorotrifluoroethylene (PCTFE) market segmentation, by End-Use:
- Electrical & Electronics
Global Polychlorotrifluoroethylene (PCTFE) market segmentation, by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Accenture Inc.
- Daikin Industries Ltd.
- I. du Pont de Nemours and Company
- Honeywell International Inc.
- Akzonobel N.V.
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