DUBLIN--(BUSINESS WIRE )--The "Polychlorotrifluoroethylene Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2022 to 2030" report has been added to ResearchAndMarkets.com's offering.

The polychlorotrifluoroethylene market is set to reach US$ 826.8 million from around US$ 583.2 million in 2021. The market is expected to grow at the rate of 4% CAGR during the forecast period of 2022 to 2030.

China continues to be the largest market in the world for PCTFE owing to its large network of manufacturing centers and pharmaceutical companies. 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. 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.

Widening Application across Industries Promising Market Potential:

There has been significant transition with respect to its application has led to increased market revenues over the years. PCTFE that was once just used for laminating polymers is now an effective moisture barrier fir 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.

The resins of polychlorotrifluoroethylene are witnessing strong demand due its application as moisture barrier coating used in drug manufacturing. It is important to note the growth of the end user industries - for instance drug manufacturing market valued at US $325 billion in 2019 and is expected to grow over a CAGR of 14% from 2021 to 2029. Similar is the case with refrigeration market and Cryogenic application that is driving the market for PCTFE. PCTFE's applications that have stretched across various industries such as electrical and electronics, aerospace, healthcare and others have led to consistent increase in market revenues across the globe.

Pricing Factor Remains Major Concern for PCTFE Vs Other Polymers:

There has been a constant demand for new polymers considering the commercial and performance gaps of conventional polymers such as polyether ether ketone (PEEK) and polytetrafluoroethylene (PTFE). PCTFE therefore, stands superior in some aspects in comparison to conventionally polymers.

PCTFE is superior in terms of tensile strength, versatility while processing and offer stability across wide range of temperature. In the process of finalization of polymers for a certain application lot of commercial and application analysis is performed and price remains one of the significant factors that impact the decision. PCTFE is priced higher than PTFE however, in environment that requires dimensional stability across wide range of temperature PCTFE becomes uncompromisable.

Large variety of Players Intensifying Market Competition

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.

Key market players in the PCTFE market covered in the report are as follows:

Key questions answered in this report

3. Polychlorotrifluoroethylene Market: Business Outlook & Market Dynamics

4. Polychlorotrifluoroethylene Market: By , 2020-2030, USD (Million)

5. Polychlorotrifluoroethylene Market: By Application, 2020-2030, USD (Million)

6. Polychlorotrifluoroethylene Market: By End-use, 2020-2030, USD (Million)

7. North America Polychlorotrifluoroethylene Market, 2020-2030, USD (Million)

8. UK and European Union Polychlorotrifluoroethylene Market, 2020-2030, USD (Million)

9. Asia Pacific Polychlorotrifluoroethylene Market, 2020-2030, USD (Million)

10. Latin America Polychlorotrifluoroethylene Market, 2020-2030, USD (Million)

11. Middle East and Africa Polychlorotrifluoroethylene Market, 2020-2030, USD (Million)

For more information about this report visit https://www.researchandmarkets.com/r/apmwn8

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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900