PTFE Prices Rising Due to Improvement in Downstream Market Demand
- 13-Jun-2022 5:44 PM
- Journalist: Henry Locke
Poly Tetra Fluoro Ethylene (PTFE) market saw a rise in the prices in the German market as the product finds numerous applications in different industries, including automotive, transportation, and chemical processing. With its better properties, such as chemical inertness, superior electric insulation, heat and weather resistance, and low coefficient of friction, the price of PTFE is observed to be hovering around USD 9657/ton-USD 10321/ton PTFE Powder form CFR Hamburg. Chem Analyst recorded a week-to-week escalation of 0.1% on June 10 in the German region.
The market is thriving because of the growing need for less toxic chemicals, backed by stringent government regulations to regulate chemical pollution. Cost-effective solutions for downstream market oil and gas, electric and electronics, as well as for the construction sectors, are provided by PTFE. Increased use of PTFE for utensils and cutleries in the food and beverage industries is also surging the market and contributing to market growth. Coatings, insulation, thermal sealing, lubrication, bearings, and clinical applications benefit from its use.
Rising prices of upstream feedstock Tetrafluoro Ethylene and Fluorspar are one of the major causes of the PTFE prices surge. Tetrafluoro Ethylene is relatively expensive and, thus, only used when the components have to withstand harsh environments.
Rising demand for Poly Tetra Fluoro Ethylene (PTFE) from the importing countries like Italy, France, the USA and South Korea, as well as escalating prices from the exporting countries like Netherlands, Belgium, India and China, are pushing the German market to broaden their PTFE prices. The freight charges are majorly affected by the ongoing war between Russia and Ukraine, further increasing PTFE prices.
As per Chem Analyst, the PTFE market is further projected to grow due to the growing chemical trade worldwide. Most manufacturers are constantly launching new products to gain a more significant market share. Continuous innovation is playing a vital role in driving market growth. Suppliers are developing new ideas and technologies to maintain stability in a highly competitive market and keep pace with advanced technologies. The improvement of production technology will improve the product performance of PTFE Fabric and reduce costs.