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PTFE Coatings Market size is estimated to reach US$2.5 billion by 2027 and it is projected to grow at a CAGR of 6.1% during 2022-2027.

HYDERABAD, TELANGANA, INDIA, January 17, 2023 /EINPresswire.com/ -- PTFE Coatings Market size is estimated to reach US$2.5 billion by 2027 and it is projected to grow at a CAGR of 6.1% during 2022-2027. PTFE coatings are non-stick fluoropolymer coatings with a very thin film coating. These coatings are generally used in mold release applications for products like rubber mats and golf balls however, is utilized in multiple applications. These products are exceedingly low coefficient of friction with good resistance and can handle high pressure and temperatures as well. It was initially used to make non-stick pans due to its chemical structure but now it has been widely used in many other industries as well. There are 3 types of PTFE coatings: solvent based coatings, water-based and powder coating. The PTFE coatings improve and modify the properties of surfaces.

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Key takeaways:

This IndustryARC report on the PTFE Coatings market highlights the following areas -

1. PTFE coatings are unaffected by virtually all acids and caustics and functions in an extreme environment; therefore, it is widely used in chemical industry.

2. PTFE coatings are responsible for smooth functioning of the machinery, thereby saving the time required during downtime.

3. PTFE coatings are majorly used in medical industry for equipment as PTFE coatings are resistant to corrosion and different types of chemical agents. It also helps in maintaining safe and bacteria-free environment which is expected to provide growth opportunity for industry players in PTFE Coatings Market

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Segmental Analysis:

1. PTFE Coatings Market Segment Analysis – By Type : Water-based PTFE coatings held the largest share in PTFE Coatings Market in 2021 and it is expected to grow with a CAGR of 6.7% during the forecast period. Water-based coatings are surface coatings which contain 80% water and a small quantity of other solvents such as polyvinyl ether and glycol. Solvent based PTFE coatings offer excellent safety towards corrosion; however, they can’t be used on flammable substances such as wood due to the usage of flammable solvents in their manufacturing.

2. PTFE Coatings Market Segment Analysis – By End-User Industry : The construction industry held the largest share in PTFE Coatings Market and it is estimated to grow at a CAGR of 6.5% during the forecast period. PTFE coatings provide protection against friction, water, and corrosion, it is used widely in many different industries. Fluoropolymer coatings offer great protection against the strident of substances and very few can affect the strong carbon-fluorine bonds that give these coatings such distinct properties for expansion of joints, slide bearings, bridge bearings etc.

3. PTFE Coatings Market Segment Analysis – By Geography : The Asia Pacific is the leading region accounted for the largest share in the PTFE Coatings Market in 2021, with a share of over 35%. The PTFE coating market is gaining popularity and is expected to increase more during the next few years. The growth is mainly attributed to the increasing demand towards industrial expansion in Asia-Pacific regions.

Competitive landscape:

The top 5 players in the PTFE Coatings industry are:

1. RPM International Inc.
2. The Sherwin-Williams Company
3. Akzo Nobel
4. Nippon Paint Holdings Co., Ltd.
5. Axalta Coating Systems.

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