DUBLIN–(BUSINESS WIRE)–The “PTFE Membrane Market by Type (Hydrophobic and Hydrophilic), Application (Industrial Filtration, Medical & Pharmaceutical, Textiles, Water & Wastewater Treatment, Architecture), and Region – Global Forecast to 2025” report has been added to ResearchAndMarkets.com’s offering.
The PTFE membrane market size was USD 2,002.2 million in 2019 and is projected to reach USD 2,408.8 million 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 membranes 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 vetting applications provides growth opportunities for manufacturers of PTFE membranes. However, the high production cost of PTFE membranes and fluctuating oil & gas prices are the factors hindering the growth of the market.
Hydrophobic type segment to capture the highest share in the 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 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.
- Growing Demand for Ptfe Membrane in Water and Wastewater Management
- Increasing Acceptance of Ptfe Membrane in the Medical & Pharmaceutical Industry
- Increasing Demand of Ptfe Membrane in the Manufacturing of Footwear and Other Apparel Products
- High Cost of PTFE Membrane
- Growing Demand for Ptfe Membrane in Emerging Countries
- Development of ePTFE Membrane Market
- High Capital Investments
- Celanese Corporation
- Eastmen Chemical Company
- Hemp Bioplastics
- Innovia Films
- Sappi Global
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