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/EIN News/ -- Newark, NJ, May 25, 2022 (GLOBE NEWSWIRE) -- A new analytical data report titled, the global PTFE film tape market is expected to grow from USD 670.87 million in 2021 to USD 995.26 million by 2030, at a CAGR of 4.48% during the forecast period 2022-2030.
In the past few years, corrosion-resistant and high-temperature endurable packaging solutions created a tremendous need for PTFE films. The PTFE films are extremely famous with the trademark name Teflon trained by Chemours. PTFE films are manufactured from polytetrafluoroethylene polymer, making them long-lasting, lower friction, and non-sticky. These films consist of a high-temperature barrier, and no corrosion impact is noticed when involving solid chemicals and different solvents. The PTFE films are primarily utilized in the manufacturing of cooking utensils, where scratch-proof and anti-frictional material is favorably selected. Due to anti-crush effects, PTFE films are constantly operated in manufacturing packaging materials. Apart from various advantages such as low tear resistance and less affected due to environmental conditions, the market for PTFE films are predicted to grow during the projection years..
To enhance their market position in the global PTFE film tape market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
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PTFE films are anticipated to achieve substantial traction in the electronics and electrical sector with outstanding mechanical and electrical properties. These films have less permeability and non-flammability, raising the need for PTFE films in electronics industries. Similarly, these films have a lower coefficient of friction; and are accordingly positively chosen in automobile industries. The packaging enterprise is noticing the rising need for PTFE films for tape manufacturing, and the demand is anticipated to cover the way for the PTFE films market. Also, the increased need for PTFE films is seen in manufacturing cooking pans and different utensils.. Despite many positive factors, specific elements might hinder the growth of the PTFE films market. When the PTFE films are overheated, they can release mildly harmful gases. Likewise, the PTFE film polymers are costly compared to different coating materials. PTFE film tape consists of thin aluminium oxide layers connected jointly with polytetrafluoroethylene coating (Teflon). These tapes have increased tear power and exceptional thermal strength executions. They also contain self-lubricating effects due to their lower friction coefficient value. The benefit of these films has been improved remarkably in the growing economies due to their increased demand for long-lasting products like aircraft and automobiles, which need security against wear-and-tear effects like abrasion.
The type segment is divided into standard density PTFE film tape, medium density PTFE film tape, high density PTFE film tape and low-density PTFE film tape. In 2021, the low-density PTFE film tape segment dominated the market with the largest market share of 24% and market revenue of 161.0 million. Low-density PTFE film tapes are primarily utilized in applications like automotive and aerospace. These products deliver high resistance against wear and tear impacts such as chemicals, temperature changes, abrasion, etc. These films also have exceptional thermal strength performances due to their lower coefficient of friction value which delivers self-lubricating effects to the product (low coefficient of friction). Regardless, they exhibit more inadequate performance in electrical insulation properties at more increased temperatures than other types.
The application segment is divided into automotive, appliance, electronic and electrical, plumbing and pipe, chemical, aerospace and others. In 2021, the plumbing and pipe segment dominated the market with the largest market share of 16% and market revenue of 107.3 million. PTFE tape is in hydrophobic form resulting in water-resistance and it is perfect for plumbing and ductwork applications and It also has great lower friction. After the massive demand in the piping industry, the manufacturers began producing them in different colours.
Regional Segment Analysis of the PTFE Film Tape Market
Among all regions, the North America region emerged as the largest market for the global PTFE film tape market, with a market share of around 34.5% and 231.4 million of the market revenue in 2021. Like Canada and Mexico, the countries in the region have noticed significant growth during the projection years. The demand for these tapes mostly comes from applications related to appliances and industrial manufacturing like chemicals or electronics. The customer choices are shifting toward green energy sources that use less maintenance than other sources when using chemicals.
To Know More Additional Highlights and Key Points visit our report @ https://www.marketsandresearch.biz/report/301655/global-ptfe-film-tape-market-2022-by-manufacturers-regions-type-and-application-forecast-to-2028
Key players operating in the global PTFE film tape market are:
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. Global PTFE film tape market based on the below-mentioned segments:
Global PTFE Film Tape Market by Type:
Global PTFE Film Tape Market by Application:
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The global PTFE film tape market is analysed based on value (USD Million). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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