PTFE (polytetrafluoroethylene) tubing can be defined as a chemically inert, semi-transparent, and non-toxic material that has unmatched temperature resistance and a surface that facilitates the flow of fluids. PTFE tubes are being widely used in applications that require resistance to corrosive chemicals,high temperatures,and high voltages. PTFE has a very low coefficient of friction and is one of the most slippery substances.Based on type, PTFE tubes can be categorized as pressure hoses, spaghetti tubing, and pipe liner.
The global growth of PTFE tube market size is primariy driven by widespread product usage in various aplications including aerospace, eletronis, chemicals, and pharmaceuticals among others. A growing transportation industy wth ring demand for passenger vehicles is likely to fuel the product demand at a significant rate during the review period. In adtion to this, expanding industrialization in developing counties is likely to create lucrative opportunities for the players operating in the global market during the review period.
Based on application, the PTFE tube market has been divided into aerospace and transportation, electronics,components & insulators, chemical & pharmaceutical manufacturing, and others.The aerospace and transportation application accounted for the largest market share in 2020. The segment growth can be attributed to significant product usage in aircraft and automobiles. The chemical and pharmaceutical manufacturing segment is expected to register healthy growth during the review period.
By region, the North American PTFE Tube market accounted for the largest share in 2020 and is expected to grow at a significant CAGR during the review period. The regional market growth can be attributed to the presence of established end-use industries such as aerospace, automotive, chemicals, and pharmaceuticals coupled with the presence of key market players in the US such as DuPont de Nemours, Inc.(US) and Norell Inc (US). The market growth in the Asia-Pacific region is expected to grow at the highest CAGR during the review on account of expanding industrialization in developing countries such as India, South Korea, Indonesia, and China.
