The latest market report published by Acute Market Reports “Polychlorotrifluoroethylene Market: Growth, Share, Opportunities & Competitive Analysis, 2021 – 2030” the PCTFE market was valued at USD 583.2 million in 2021 and is expected to reach USD 826.8 million in 2030. The estimated CAGR during the period 2023 to 2030 is 4% against an estimate that was slightly high pre-covid.
PCTFE is a high performance thermoplastic with excellent water vapor barrier properties. It is crystal clear and non inflammable with good heat and chemical resistance and also features excellent melt processability. PCTFE that was once just used for laminating polymers is now an effective moisture barrier for blister packing used in pharmaceutical. Similarly PCTFE which was once mere industrial product used in valves, chemical tanks etc has taken a leap into consumer applications with its use in semiconductors, LCD panels, Teflon coated products and so on. Increasing revenues in end user industries such as drug development, pharmaceutical packaging, refrigeration and cryogenic applications have fuelled the growth of PCTFE. For instance drug manufacturing market valued at US $325 billion in 2021 and is expected to grow over a CAGR of 14% from 2023 to 2030. China alone contributes to more than 40% of PCTFE market revenues in Asia owing to its widespread infrastructure of manufacturing and pharmaceutical centre.
Most of the polymers due to similar characteristics are effective alternatives to each other. This is the biggest challenge. In the finalization process of polymers significant application and commercial analysis are taken into consideration and price is one of the most important factor that is considered. In comparion to PTFE, PCTFE is priced higher this limits the use of PCTFE where dimensional stability is the prime criteria. However, PCTFE is superior to PTFE interms of tensile strength, versatility and offers stability across temperature ranges.
The level of competition among the market participants in this PCTFE market is significantly high. The nature of players includes big brands with multiple portfolio such as Honeywell to Akzo Nobel to niche players such as Chemours. Across timeline, there have been significant changes in the fluoropolymer market for instance Dupont spun of its fluoropolymer segment, which is now called as Chemours. 3M has stopped it production of KEL-F which is no longer available in the market. Therefore, there has been constant development in the market with changing dynamics of competitors. Such trends have resulted in the formation of niche and focused companies that cater to the need of specialized client base. Many companies are also focusing in strategic partnership to expand the product portfolio or to expand their market reach.
Covid 19 impact on the PCTFE market was limited in relation to other markets. This was due to its application in crucial segments such as aerospace and healthcare. There was no direct impact in concern to the demand or supply other than minor shutdown of production and sales operations across countries. However, other macro factors impacting the overall environment had a large role to play in minor downsizing of the market growth during the forecast period.
Key Market Movements:
Browse the full report “Polychlorotrifluoroethylene Market By Application (Films, Wires & Tubes, Coatings), By End-use (Pharmaceutical, Electrical & Electronics, Aerospace, Others) - Growth, Share, Opportunities & Competitive Analysis, 2021 – 2030” at https://www.acutemarketreports.com/report/polychlorotrifluoroethylene-market
The Global Polychlorotrifluoroethylene Market is Segmented into:
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2020-2030 |
| Base Year | 2021 |
| Forecast Period | 2023-2030 |
| Historical Year | 2020 |
| Unit | US$ Million |
| Segmentation |
By Application Segment (2020-2030; US$ Mn) |
|
By End-use (2020-2030; US$ Mn) |
|
|
By Geography Segment (2020-2021; US$ Mn) |
*Complete segmentation list is on the report page
