Flexible Polytetrafluoroethylene For Aerospace Market - Forecast(2023 - 2028)

Report Code: CMR 1093 Report Format: PDF + Excel

Flexible Polytetrafluoroethylene For Aerospace Market Overview

The Flexible Polytetrafluoroethylene For Aerospace Market size is projected to reach US$900 million by 2027, after growing at a CAGR of 7.2% during the forecast period 2022-2027. Flexible Polytetrafluoroethylene, also known as flexible Teflon or Polytetrafluoroethylene, is a synthetic fluoropolymer of tetrafluoroethylene that has numerous applications. Increasing demand for various applications in the aerospace industry is driving the market growth of flexible Polytetrafluoroethylene. Increasing government investment in the military is further boosting the flexible Polytetrafluoroethylene for the Aerospace market. The COVID-19 pandemic majorly impacted the Flexible Polytetrafluoroethylene for Aerospace market due to restricted production, supply chain disruption, logistics restrictions and a fall in demand. However, with robust growth and flourishing applications across major industries such as the military and others, the Flexible Polytetrafluoroethylene for Aerospace industry is anticipated to grow rapidly during the forecast period.

Flexible Polytetrafluoroethylene For Aerospace Market Report Coverage

The “Flexible Polytetrafluoroethylene For Aerospace Market Report – Forecast (2022-2027)” by IndustryARC, covers an in-depth analysis of the following segments in the Flexible Polytetrafluoroethylene For Aerospace industry.

By Form: Granular, Micro Powder, Fine Powder and Dispersion.
By Type: Modified and Unmodified.
By Application: Sheet, Coatings, Pipes, Air bearings, Electric harness parts, Control surfaces, Electronic Device trays, Tank fuel seals, Throttle box seals and Others.
By End-use Industry: Commercial Aviation, Military Aviation and General Aviation.
By Geography: North America (the USA, Canada and Mexico), Europe (the UK, Germany, France, Italy, the Netherlands, Spain, Belgium and the Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia and the Rest of APAC), South America (Brazil, Argentina, Colombia, Chile and the Rest of South America) and the Rest of the World (the Middle East and Africa).

Key Takeaways

  • Asia-Pacific dominates the Flexible Polytetrafluoroethylene for Aerospace market size. The increase in demand for applications such as sheets, coatings and others is the main factor driving the region's growth.
  • One of the primary factors contributing to the favorable outlook of the Flexible Polytetrafluoroethylene for Aerospace market is the significant growth of the automotive industry around the world.
  • The flourishing commercial aviation industry is boosting the demand for Flexible Polytetrafluoroethylene for Aerospace applications, thereby boosting the Flexible Polytetrafluoroethylene for Aerospace market size.
  • However, Health Hazards related to Flexible Polytetrafluoroethylene for Aerospace are limiting the growth of the Flexible Polytetrafluoroethylene for Aerospace market.

Figure: Flexible Polytetrafluoroethylene For Aerospace Market Revenue Share by Geography, 2021 (%)
Flexible Polytetrafluoroethylene For Aerospace Market
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Flexible Polytetrafluoroethylene For Aerospace Market – By Form

The Granular segment held a significant share in the Flexible Polytetrafluoroethylene For Aerospace market in 2021 and is projected to grow at a CAGR of 9.1% during the forecast period 2022-2027. The growth is fueled by the extensive characteristics provided by granular form over other forms. The granular form is widely used for the manufacturing of seal rings, valve seats, bearing pads, fittings, electrical insulations and many other components. It has chemical inertness, high-temperature resistance and excellent chemical resistance, thereby driving the demand for flexible Polytetrafluoroethylene in the aerospace industry. These extensive properties, compiled with increasing applications of Flexible Polytetrafluoroethylene for Aerospace, are majorly driving its segmental growth. Thus, the use of pieces of Flexible Polytetrafluoroethylene in various applications would propel the Flexible Polytetrafluoroethylene for Aerospace industry.

Flexible Polytetrafluoroethylene For Aerospace Market – by End-use Industry

The Commercial Aviation segment held a significant share in the Flexible Polytetrafluoroethylene for Aerospace market in 2021 and is projected to grow at a CAGR of 9.5% during the forecast period 2022-2027. Flexible Polytetrafluoroethylene, also known as flexible Teflon or polytetrafluoroethylene, is used in a variety of aerospace applications, including sheets, coatings, pipes, air bearings and others. Growing developments and increasing consumer demand for commercial aerospace are boosting the flexible Polytetrafluoroethylene for aerospace market. According to the Federal Aviation Administration (FAA), the total commercial aircraft fleet is expected to grow from 7,397 units in 2018 to 8,270 by 2037. With the rise in commercial aviation production across the globe, the demand for flexible Polytetrafluoroethylene for aerospace is anticipated to rise for various applications, which is projected to boost the growth of the Flexible Polytetrafluoroethylene for Aerospace industry.

Flexible Polytetrafluoroethylene For Aerospace Market – by Geography

The Asia-Pacific segment held a significant share in the Flexible Polytetrafluoroethylene For Aerospace market in 2021 and is projected to grow at a CAGR of 10.1% during the forecast period 2022-2027. The flourishing growth of flexible Polytetrafluoroethylene is influenced by its applications across major industries, along with growing development in aerospace production and developing the base for flexible Polytetrafluoroethylene for aerospace in APAC. The aerospace sector in Asia-Pacific is rapidly growing due to a flourishing base for aerospace manufacturers, demand for aerospace compounds and a rise in production. According to India Brand Equity Foundation, the Indian aerospace industry is expanding at a rapid pace and is expected to reach US$70 billion by 2030. According to Boeing Airlines, in November 2020, Boeing estimated that China's airlines would spend US$1.4 trillion on 8,600 new planes and US$1.7 trillion on commercial aircraft services over the next 20 years. Thus, the growth of Flexible Polytetrafluoroethylene for Aerospace market in the region is being aided by the growing aerospace sector in APAC, thereby dominating the market in the Asia-Pacific region.

Flexible Polytetrafluoroethylene For Aerospace Market Drivers:

Increasing Government Investments:

Flexible Polytetrafluoroethylene, also known as flexible Teflon or Polytetrafluoroethylene, is widely used in the aerospace industry for various applications. Increasing government investment in the aerospace industry is boosting the growth of the flexible Polytetrafluoroethylene for aerospace market. According to India Brand Equity Foundation, the defense budget for 2020-21 in India was Rs.4,71,378 crore (US$67.4 billion), 9.37% higher than the budget for 2019-20. According to the U.S. Department of Defence, in the 2023 fiscal budget, the government would spend $56.5 billion on air power platforms and systems. With the rise in government spending, the demand for flexible Polytetrafluoroethylene for aerospace is anticipated to rise for various applications, which is projected to boost the Flexible Polytetrafluoroethylene for Aerospace industry growth.

Bolstering Growth of the Military Industry:

Flexible Polytetrafluoroethylene is a fluoropolymer that is commonly used in the military to coat vehicle components and equipment for corrosion resistance, smooth lubricity and a matte finish, thereby driving the flexible Polytetrafluoroethylene for the aerospace market in the defense industry. According to Delhi Policy Group, India, overall defense expenditure for FY 2021-2022 is Rs.3,62,345.62 Crore (US$49.6 billion), an increase of Rs.24,792.62 Crore (US$3.4 billion) over FY 2020-2021 budget estimates. According to the UK Military of Defence, in 2020/21, the government spent £42.4 billion on defense, a £2.5 billion increase over the previous year. With the increasing military and defense industry, the demand for flexible Polytetrafluoroethylene would also likely increase, as a result of which the Flexible Polytetrafluoroethylene for Aerospace industry would flourish over the forecast period.

Flexible Polytetrafluoroethylene For Aerospace Market Challenges

Health Hazards Related to Polytetrafluoroethylene:

The presence of health hazards is expected to hinder the growth of the Flexible Polytetrafluoroethylene for Aerospace industry over the forecast period. Thyroid disorders, chronic kidney disease, liver disease and testicular disease are all linked to Polytetrafluoroethylene. When Polytetrafluoroethylene and fluoropolymer are heated above their melting point, the toxic chemicals are released into the air, causing such diseases. According to Healthline, the condition usually resolves itself within 12-48 hours of exposure. A few case studies have also reported more serious side effects of overheated Polytetrafluoroethylene exposure, such as lung damage. Polytetrafluoroethylene coatings may begin to degrade above 570°F (300°C), releasing toxic fumes into the atmosphere. As a result, the negative health impact associated with the use of Polytetrafluoroethylene is impeding the Flexible Polytetrafluoroethylene for Aerospace market growth.

Flexible Polytetrafluoroethylene For Aerospace Industry Outlook

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Flexible Polytetrafluoroethylene for Aerospace market. The top 10 companies in the Flexible Polytetrafluoroethylene for Aerospace market are:

  1. 3M Company
  2. Arkema
  3. AGC Inc.
  4. Gujarat Fluorochemicals Limited
  5. HaloPolymer
  6. Hindustan Fluorocarbons Ltd
  7. Jiangsu Meilan Chemical Co. Ltd
  8. Shanghai 3F New Materials Co. Ltd
  9. The Chemours Company
  10. Zhonghao Chenguang Research Institute of Chemical Industry

Recent Developments

  • In April 2021, Dolphin Sutures, a global leader in surgical sutures, announced the addition of non-absorbable Polytetrafluoroethylene sutures to its Dental product portfolio for the first time in India. Dense Polytetrafluoroethylene is part of the new TEFLENE product family (Polytetrafluoroethylene).
  • In January 2021, Tech Tubes & Fittings launched the Polytetrafluoroethylene/Teflon Tube Fittings, Instrumentation Pipe Fittings & Valves.
  • In April 2020, JP Air Tech, a Danish air filter media manufacturer, launched the JX81-B-Polytetrafluoroethylene membrane, a synthetic lightweight filter media, as part of its ongoing investment in the development of innovative products for the filtration and separation sector.

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1. Flexible Polytetrafluoroethylene For Aerospace Market - Market Overview
    1.1 Definitions and Scope
2. Flexible Polytetrafluoroethylene For Aerospace Market - Executive Summary
    2.1 Key Trends by Form
    2.2 Key Trends by Type
    2.3 Key Trends by Application
    2.4 Key Trends by End-use Industry
    2.5 Key Trends by Geography
3. Flexible Polytetrafluoroethylene For Aerospace Market – Comparative analysis
    3.1 Market Share Analysis - Major Companies
    3.2 Product Benchmarking - Major Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis - Major Companies
    3.5 Pricing Analysis (ASPs will be provided)
4. Flexible Polytetrafluoroethylene For Aerospace Market - Startup companies Scenario Premium Premium
    4.1 Major startup company analysis:
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5. Flexible Polytetrafluoroethylene For Aerospace Market – Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Successful Venture Profiles
    5.4 Customer Analysis – Major companies
6. Flexible Polytetrafluoroethylene For Aerospace Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porter's Five Force Model
        6.3.1 Bargaining Power of Suppliers
        6.3.2 Bargaining Powers of Buyers
        6.3.3 Threat of New Entrants
        6.3.4 Competitive Rivalry
        6.3.5 Threat of Substitutes
7. Flexible Polytetrafluoroethylene For Aerospace Market – Strategic Analysis
    7.1 Value Chain Analysis
    7.2 Opportunity Analysis
    7.3 Product/Market Life Cycle
    7.4 Distributor Analysis – Major Companies
8. Flexible Polytetrafluoroethylene For Aerospace Market - by Form (Market Size - US$ Million/Billion)
    8.1 Granular
    8.2 Micro Powder
    8.3 Fine Powder
    8.4 Dispersion
9. Flexible Polytetrafluoroethylene For Aerospace Market - by Type (Market Size - US$ Million/Billion)
    9.1 Modified
    9.2 Unmodified
10. Flexible Polytetrafluoroethylene For Aerospace Market - by Application (Market Size - US$ Million/Billion)
    10.1 Sheet
    10.2 Coatings
    10.3 Pipes
    10.4 Air bearings
    10.5 Electric harness parts
    10.6 Control surfaces
    10.7 Electronic device trays
    10.8 Tank fuel seals
    10.9 Throttle box seals
    10.10 Others
11. Flexible Polytetrafluoroethylene For Aerospace Market - by End-use Industry (Market Size - US$ Million/Billion)
    11.1 Commercial Aviation
    11.2 Military Aviation
    11.3 General Aviation
12. Flexible Polytetrafluoroethylene For Aerospace Market - by Geography (Market Size - US$ Million/Billion)
    12.1 North America
        12.1.1 The USA
        12.1.2 Canada
        12.1.3 Mexico
    12.2 Europe
        12.2.1 The UK
        12.2.2 Germany
        12.2.3 France
        12.2.4 Italy
        12.2.5 The Netherlands
        12.2.6 Spain
        12.2.7 Belgium
        12.2.8 The Rest of Europe
    12.3 Asia-Pacific
        12.3.1 China
        12.3.2 Japan
        12.3.3 India
        12.3.4 South Korea
        12.3.5 Australia and New Zealand
        12.3.6 Indonesia
        12.3.7 Taiwan
        12.3.8 Malaysia
        12.3.9 The Rest of APAC
    12.4 South America
        12.4.1 Brazil
        12.4.2 Argentina
        12.4.3 Colombia
        12.4.4 Chile
        12.4.5 The Rest of South America
    12.5 The Rest of the World
        12.5.1 The Middle East
            12.5.1.1 Saudi Arabia
            12.5.1.2 The UAE
            12.5.1.3 Israel
            12.5.1.4 The Rest of the Middle East
        12.5.2 Africa
            12.5.2.1 South Africa
            12.5.2.2 Nigeria
            12.5.2.3 The Rest of Africa
13. Flexible Polytetrafluoroethylene For Aerospace Market – Entropy
    13.1 New Product Launches
    13.2 M&As, Collaborations, JVs and Partnerships
14. Flexible Polytetrafluoroethylene For Aerospace Market – Industry/Segment Competition Landscape Premium
    14.1 Company Benchmarking Matrix – Major Companies
    14.2 Market Share by Key Global Level - Major companies
    14.3 Market Share by Key Region - Major companies
    14.4 Market Share by Key Country - Major companies
    14.5 Market Share by Key Application - Major companies
    14.6 Market Share by Key Product Type/Product category - Major companies
15. Flexible Polytetrafluoroethylene For Aerospace Market – Key Company List by Country Premium Premium
16. Flexible Polytetrafluoroethylene For Aerospace Market Company Analysis - Business Overview, Product Portfolio, Financials and Developments
    16.1 Company 1
    16.2 Company 2
    16.3 Company 3
    16.4 Company 4
    16.5 Company 5
    16.6 Company 6
    16.7 Company 7
    16.8 Company 8
    16.9 Company 9
    16.10 Company 10 and more
* "Financials would be provided to private companies on best-efforts basis."
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