Polychlorotrifluoroethylene (PCTFE) Market Size, Share & Trends Report

Polychlorotrifluoroethylene (PCTFE) Market Size, Share & Trends Analysis Report By Application (Films, Wires & Tubes, Coatings), By End Use (Pharmaceutical, Electrical & Electronics, Aerospace), By Region, And Segment Forecasts, 2018 - 2025

  • Published Date: Apr, 2018
  • Base Year for Estimate: 2016
  • Report ID: GVR-2-68038-170-2
  • Format: Electronic (PDF)
  • Historical Data: 2014 - 2016
  • Number of Pages: 67

Industry Insights

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.

Increasing penetration of the product in the aerospace industry to manufacture valve seats, plugs, diaphragms, and impellers is likely to be a key growth driver for the PCTFE market. 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.

U.S. PCTFE market

In U.S., the pharmaceutical application is expected to be a prominent contributor. Rising investments by the U.S. government to reduce drug imports are likely to boost pharmaceutical manufacturing, which in turn is expected to propel growth over the forecast period.

The product witnessed a significant price hike in 2015 owing to increase in raw material prices, which compelled end-use industries to increase their product prices. However, the prices stabilized in 2016, and this trend is expected to continue over the forecast period on account of stable polymer prices.

The dominance of leading industry player Daikin Industries Ltd., coupled with high cost associated with PCTFE production, is expected to be a major threat for new entrants. Furthermore, high product cost limits its overall potential in end-use industries, which is expected to be a key concern for new investors in the PCTFE industry.

High penetration of existing substitutes such as polytetrafluoroethylene (PTFE), chlorotrifluoroethylene (CTFE), and ethylene tetrafluoroethylene (ETFE) is likely to be a threat to the market. However, the superior resistance, abrasion, toughness, and high tensile strength offered by the product are likely to allow the industry to counter this threat over the projected period.

Application Insights

The demand for PCTFE films is expected to increase at a CAGR of 4.5% from 2017 to 2025 on account of their usage in the pharmaceutical industry to provide moisture resistance to drugs. Furthermore, increasing use of the product in manufacturing blister packaging is likely to propel demand over the forecast period.

PCTFE-based wires and tubes have excellent resistance to cold flow and offer dimensional stability for an extensive range of temperatures. In addition, they offer low moisture absorption, low gas permeability, high rigidity, and good transparency in products, which promotes its use across end-use industries.

The PCTFE coatings segment was valued at USD 103.3 million in 2016. These coatings exhibit superior properties such as weather resistance, corrosion resistance, chemical resistance, heat resistance, and demolding. As a result, demand for these coatings is expected to grow in industrial applications.

Other applications of PCTFE include use in manufacturing rods, waxes, oils, and greases. The products are used in a variety of fields such as high-pressure vacuum plants, electrical components, glass windows, semiconductor components, and automobiles.

End-use Insights

The pharmaceutical segment was valued at USD 104.3 million in 2016, as the product possesses the ability to provide resistance to medicines against UV radiation, temperature, and moisture. Furthermore, growth in pharmaceutical manufacturing in emerging economies on account of rising consumer health awareness is likely to positively impact the polychlorotrifluoroethylene market.

Global PCTFE market

Aerospace was the largest application segment in 2016, accounting for 36.2% of the overall demand. The product finds high demand in manufacturing aerospace plugs, diaphragms, impellers, and valve seats on account of its light weight and durability.

PCTFE products are used in laboratory instruments, chemical and cryogenic processing equipment, nuclear plants, and other radiation-prone equipment. The superior chemical and thermal resistance imparted by PCTFE products help in improving operational efficiency of the aforementioned equipment and processes, thus resulting in high demand.

Regional Insights

Demand in Asia Pacific is expected to rise at a CAGR of 4.5% from 2017 to 2025. Growing aerospace, electronics, and pharmaceutical industries and large investments in R&D aimed at achieving higher efficiency and performance of the product are triggering industry growth.

China was the largest market in Asia Pacific, accounting for 43.6% of the regional demand in 2016. In 2017, the country was the largest manufacturer of pharmaceutical ingredients and the second largest market for medicines in the world. High investments from the Chinese government in drug manufacturing to fulfill rising domestic demand is expected to propel industry growth.

The North America market owes its growth to rapid expansion and firm establishment of the aerospace industry in the region, particularly in U.S. Presence of major aerospace manufacturers such as Boeing, Lockheed Martin, and Airbus has also benefited the market. In terms of revenue, the aerospace segment in the U.S. market was valued at USD 25.9 million in 2016.

Central and South America and Middle East and Africa collectively accounted for around 10.0% of the market in 2016. The regions are expected to witness slower growth in comparison owing to relatively lower use in various application industries. Furthermore, low penetration of the product to replace traditional fluoropolymers in these regions has influenced PCTFE market growth.

Polychlorotrifluoroethylene Market Share Insights

Companies such as Daikin Industries Ltd.; Arkema; E. I. du Pont de Nemours and Company; and Honeywell International Inc., which account for a major share in the global market and PCTFE-based products, have adopted strategies such as expansion of production capacities to meet rising demand.

As of 2017, Daikin Industries, Ltd. is the largest supplier of polychlorotrifluoroethylene in the world. The company is a producer of PCTFE films, wires and tubes, and coatings and its operations are integrated across the value chain.

Report Scope

Attribute

Details

Base year for estimation

2016

Actual estimates/Historical data

2014 - 2016

Forecast period

2017 - 2025

Market representation                                                  

Revenue in USD Million and CAGR from 2017 to 2025

Regional scope

North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa

Country scope

U.S., U.K., Germany, China, India, Brazil

Report coverage              

Revenue forecast, company share, competitive landscape, and growth factors and trends

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Segments Covered in the Report

This report forecasts revenue and volume growth at global, regional, and country levels, and provides an analysis on latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global polychlorotrifluoroethylene market report based on application, end use, and region.

  • Application Outlook (Revenue, USD Million, 2014 - 2025)

    • Films

    • Wires & Tubes

    • Coatings

  • End-use Outlook (Revenue, USD Million, 2014 - 2025)

    • Pharmaceutical

    • Electrical & Electronics

    • Aerospace

    • Others

  • Regional Outlook (Revenue, USD Million, 2014 - 2025)

    • North America

      • U.S.

    • Europe

      • U.K.

      • Germany

    • Asia Pacific

      • China

      • India

    • Central & South America

      • Brazil

    • Middle East & Africa

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