Fast paced industrialization and growth in key sectors including automotive, electronics and chemical processing have been boosting the polytetrafluoroethylene (PTFE) products market in India. The rising demand for PTFE in the electrical and electronics industries owing to its insulating properties is a crucial factor in this expansion. Initiatives such as 'Make In India' are propelling demand in India's growing electronics manufacturing sector, with PTFE based wires and cables witnessing the biggest demand. In addition, the Indian automotive industry, with its growing trend to integrate high performance materials for improving fuel efficiency and reduction in emissions, is another major driver. In the automotive industry, PTFE is used in numerous automotive component parts, such as seals and bearings, where durability and thermal stability is important.
Further, PTFE products are demanded by India's chemical processing sector due to its increased need to combat corrosion and chemical resistance. With chemical production growing in particular in specialty chemicals, the need of PTFE coatings and linings to prolong the equipment life and guarantee operational safety is growing. The PTFE products market is also subject to the trend of urbanization and infrastructural development. Demand in the building and construction industry is being fueled by the need for high quality, durable materials with the expanding construction and infrastructural projects. Additionally, market development has been hindered, but is expected to be expedited, by increasing awareness of PTFE benefits along with the availability of advanced manufacturing techniques making local production more competitive, in turn reducing dependence on imports.
In this special issue, we introduce you to the top companies in this segment. Industry Outlook has identified the select few companies that have done particularly well with a high level of dedication. We have found that these companies have gone the extra mile in proving their commitment to meet the customer needs in an integrated manner.
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