North American PTFE Market To Prosper in Coming Years
Valued at $2,197.8 million in 2018, the global polytetrafluoroethylene market is expected to generate a revenue of $2,953.6 million by 2024. According to the estimates of the market research company, P&S Intelligence, the market will progress at a CAGR of 5.0% from 2019 to 2024 (forecast period). The market is being propelled by the burgeoning requirement for PTFE in the electrical and electronics industry and cosmetic products, such as anti-aging creams, blushes, and pressed powders. PTFE is being increasingly used in barb insulators, brush holders, circuit breakers, cable ties, connectors, battery binders, and fabrication of various semiconductor devices. According to the Semiconductor Industry Association (SIA), more than one trillion units of semiconductors were shipped across the globe in 2018. In addition, in China, the sales value of semiconductors grew by more than 20.5% from 2017 to 2018. Besides, the mushrooming use of PTFE in cosmetics is also predicted to create lucrat...