Global Medical Polytetrafluoroethylene (PTFE) Market Size to Reach USD 671.9 Million in 2032 | Emergen Research

Vancouver, Oct. 10, 2023 (GLOBE NEWSWIRE) -- The global medical Polytetrafluoroethylene (PTFE) market size is expected to reach USD 671.9 Million in 2032 and register a steady revenue CAGR of 3.9% over the forecast period, according to the latest analysis by Emergen Research. Increasing use of PTFE in drug delivery systems and rising demand for PTFE in the chemical processing sector are key factors driving market revenue growth. PTFE is a fluorocarbon solid made from the polymerization of Tetrafluoroethylene (TFE) monomer, which is often utilized in corrosive and reactive chemical pipework and containers. Biomimetic materials have become appealing and competitive options in the field of Tissue Engineering (TE) and regenerative medicine.

This rising demand for biomimetic materials has led to an increased need for medical PTFE. These materials provide cells with a wide range of biochemical and biophysical signals that closely resemble the natural Extracellular Matrix (ECM) found in living organisms. In addition, biomimetic material possess the ability to adapt to mechanical stresses, exhibit interconnected microstructures, and inherently promote biological activity, making PTFE well-suited for designing living implants tailored to specific TE and regenerative medicine applications. PTFE is widely used in implants and various medical devices due to their exceptional biocompatibility and inertness. Moreover, PTFE finds applications in conditions or injuries affecting blood vessels, heart, jawbone, nose, eyes, and abdominal walls.

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However, rising competition from alternative materials such as Ethylene Tetrafluoroethylene (ETFE) is a key factor, which could restrain market revenue growth. ETFE surpasses PTFE in terms of biocompatibility, reducing the likelihood of causing inflammation or other undesirable reactions within the body. ETFE has greater flexibility compared to PTFE, making it more manageable for shaping and crafting into medical devices, with a tensile strength of around 42 MPa (6100 psi). In addition, operational temperature range of ETFE is sufficiently broad for medical applications, spanning from −185 °C to +150 °C.

Moreover, Ethylene Tetrafluoroethylene (ETFE) offers significant advantage of being 100% recyclable, a highly favorable characteristic as responsible disposal is a paramount concern. Non-recyclable and non-biodegradable materials only contribute to pollution and environmental litter. The production process of ETFE also relies on a water-based approach, eliminating the need for chemical solvents or petroleum derivatives, which is a positive environmental aspect.

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Scope of Research

Major Companies and Competitive Landscape

The global medical Polytetrafluoroethylene (PTFE) market is fragmented, with many large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective database security. Some major players included in the global medical Polytetrafluoroethylene (PTFE) market report are:

• Saint-Gobain
• W. L. Gore & Associates, Inc.
• Donaldson Company, Inc.
• Sumitomo Electric Industries, Ltd.
• Pall Corporation
• Markel Group Inc.
• Zeus Company Inc.
• CHUKOH CHEMICAL INDUSTRIES, LTD.
• MCTec
• Precision Coating Company, Inc.

Strategic Development

• On 2 March 2022, Toray Industries, Inc. introduced a high-strength fabric utilizing Toyoflon, a low-friction PTFE fiber. This innovative textile maintains the exceptional friction resistance characteristic of fluoropolymers. This testing conducted by Toray revealed that the slide durability of this fabric surpasses that of current alternatives by 25 times, accompanied by a reduction of over 50% in friction. The advantages of this new textile are expected to lead to decreased sliding areas, enhanced performance, increased surface pressure, and the potential for downsizing and weight reduction.

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Some Key Highlights From the Report

• The PTFE sheets segment is expected to account for largest revenue share in the global medical Polytetrafluoroethylene (PTFE) market during the forecast period. This is due to increasing use of PTFE sheets in the pharmaceutical sector due to their non-corrosive, non-wetting, and non-contaminating characteristics. These attributes hold significant importance as the pharmaceutical industry frequently deals with harsh chemicals and acids. PTFE sheets also exhibit non-stick properties and excellent resistance to temperature variations. In addition, PTFE serves a versatile range of purposes, functioning as seals, scrapers, guides, slide bearings, insulators, washers, and rollers, which is also expected to drive revenue growth of this segment.
• The medical device components segment is expected to register steadily fast revenue growth rate in the global medical Polytetrafluoroethylene (PTFE) market over the forecast period. This is because Polytetrafluoroethylene (PTFE) is a frequently employed substance in medical instruments due to their biocompatibility and lack of reactivity. PTFE possesses the most minimal friction coefficient among all polymers, and it can operate effectively across a broad temperature spectrum, reaching temperatures as high as 500 degrees Fahrenheit. In addition, PTFE serves as a widely adopted material for implants and various medical devices owing to their exceptional biocompatibility and inert nature. This makes it advantageous for applications involving blood vessels, heart, jawbones, nasal structures, ocular components, or abdominal walls, particularly in cases of medical conditions or injuries.
• The North America market is expected to account for largest revenue share in the global medical Polytetrafluoroethylene (PTFE) market during the forecast period. This is attributed to increasing activities by key market players in countries in this region. For instance, Daikin America, Inc. (DAI) revealed its plans for a substantial investment, totaling up to USD 195 million, to facilitate the expansion of its facilities in Decatur, Alabama. This expansion project encompasses the addition of polymer manufacturing capabilities, establishment of associated monomer production, enhancement of utility systems and infrastructure, and augmentation of Research & Development (R&D) capacities. In addition, this expansion initiative will lead to a significant increase in Daikin's production capacity for PTFE and melt resin polymers, among other improvements.

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For the purpose of this report, Emergen Research has segmented the global medical Polytetrafluoroethylene (PTFE) market based on procedure product type, application, end-use, and region:

• Product Type Outlook (Revenue, USD Million; 2019–2032)
  • PTFE Sheets
  • PTFE Tubes
  • PTFE Films
  • PTFE Gaskets and Seals
  • PTFE Rods
  • PTFE Powder
• Application Outlook (Revenue, USD Million; 2019–2032)
  • Medical Device Components
    • Catheters
    • Surgical Instruments
    • Implants
    • Diagnostic Equipment
  • Drug Delivery Systems
  • Lab Equipment
  • Coatings and Linings
  • Others
• End-use Outlook (Revenue, USD Million; 2019–2032)
  • Hospitals
  • Clinics and Ambulatory Surgical Centers (ASCs)
  • Medical Device Manufacturers
  • Pharmaceutical Companies
  • Research and Academic Institutions
• Regional Outlook (Revenue, USD Million; 2019–2032)
  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • BENELUX
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of APAC
  • Latin America
    • Brazil
    • Rest of LATAM
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Israel
    • Rest of Middle East & Africa

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