The PTFE membranes market size is projected to reach USD 2.41 billion by 2025 at a CAGR of 6.0%
NEW YORK, Oct. 14, 2020 /PRNewswire/ -- The PTFE membranes market size is projected to reach USD 2.41 billion by 2025 at a CAGR of 6.0%. The growing demand from oil & gas industries and stringent regulations pertaining to emission and waste treatment are the major drivers boosting the demand for PTFE memranes market globally. Furthermore, the market is growing globally due to the implementation of water and waste management programs. The rising demand for EPTFE membranes in microfiltration and veting applications provides growth opportunities for manufacturers of PTFE membranes. However, high production cost of PTFE membranes and fluctuating oil & gas prices are the factors hindering the growth of the market.
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Hydrophobic type segment to capture highest share in PTFE membranes market during the forecast period.
PTFE membranes are naturally hydrophobic, with excellent chemical resistance and have a natural tendency to repel water due to low surface tension.The demand for these membranes is rising rapidly, owing to their various physical properties such as high porosity and chemical & abrasion resistance.
Thus, they are mainly used in applications such as industrial filtration, medical & pharmaceutical, architecture, textile, water & wastewater treatment, and others.
Industrial filtration to be the largest application of PTFE membranes
Based on application, the PTFE membranes membranes market is segmented into industrial filtration, medical & pharmaceutical textile, water & wastewater treatment, architecture, and others.The industrial filtration application segment accounted for the larger market share in 2019.
This is because of the unique properties, such as chemical inertness, ability to sustain high temperature, good mechanical properties, and high filtration efficiency, possess by PTFE membranes makes it suitable for industrial filtration applications involving exposure to corrosive environments and contact with gases, acids, solvents, and alkaline solutions.
APAC is the largest and fastest growing PTFE membranes market during the forecast period.
APAC is estimated to be the largest and the fastest-growing PTFE membrane market during the forecast period.The growth of the market in this region is primarily attributed to the rapidly growing population, urbanization, and industrialization.
The growing demand from the food & beverage processing, medical & pharmaceuticals, and water & wastewater treatment is playing a crucial role in fueling the market for PTFE membrane in APAC. Implementation of strict regulations regarding water treatment & industrial wastewater discharge is also expected to drive the PTFE membrane market in the region.
The recent COVID-19 pandemic is expected to impact the various industries globally.Due to lockdown, many food & beverage processing industries, textile, and water & wastewater treatment industries activities are halted.
For instance; Tyson Foods (US), a leading meat processing company, restricted its pork processing by nearly 50% and beef production by about 25% by May 2020.The companies are taking precautions to avoid the spread of the virus.
Governments of different countries are keeping a close watch on the disruption and taking every necessary step to mitigate the impact of COVID-19 by promoting food processing.Even after the lifting of lockdown, it will be challenging for PTFE membrane manufacturers to get back to normal working situations.
Similarly, economies such as China, India, and others are also facing the brunt of the Covid-19 pandemic.
• By Company Type – Tier 1: 57%, Tier 2: 29%, and Tier 3: 14%
• By Designation - C Level: 43%, Director Level: 21%, and Others: 36%
• By Region - APAC: 50%, Europe: 25%, North America: 9%, South America: 8%, and the Middle East & Africa: 8%
The report profiles several leading players of the PTFE membranes market, such as Pall (US), Cytiva (US), W.L. Gore (US), Merck Millipore (US), Corning (US), Donaldson (US), Saint Gobain (France), Markel (US), Sartorius (Germany), and Hyundai Micro (South Korea). The report also includes detailed information about various growth strategies adopted by these key players to strengthen their position in the PTFE membranes market.
Research Coverage:
The report offers insights into the PTFE membranes market in the key regions.It aims at estimating the size of the PTFE membranes market during the forecast period and projects future growth of the market across various segments based on type, application, and region.
The report also includes an in-depth competitive analysis of the key players in the PTFE membranes market, along with company profiles, SWOT analysis, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help leaders/new entrants in the PTFE membranes market by providing them with the closest approximations of revenues for the overall market and its various sub-segments.This report will help stakeholders obtain a better understanding of the competitive landscape and gain insights to enhance their businesses and devise suitable market strategies.
The report will also help stakeholders understand the pulse of the market and help acquire information on key market drivers, restraints, challenges, and opportunities affecting the growth of the PTFE membranes market.
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