What is the future of PTFE Membrane Market? Know Covid Impact on Size, Share & Forecasts
June 30, 2020
The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the PTFE Membrane Market.
It was estimated prior to this unanticipated outbreak that the PTFE Membrane Market was expected to grow at a CAGR of 9.2% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
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PTFE membrane is a filter that is hydrophobic or hydrophilic in nature and is strongly resistant to solvents, acids, and bases. The membrane is also resistant to high temperatures and is perfect for sampling purposes.
PTFE membrane or Polytetrafluoroethylene membrane is an ideal option for different sampling purposes and they are used in a wide number of industries such as industrial filtration, textiles, medical and pharmaceutical option, water and wastewater treatment, architecture, and many others.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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Based on the type, the market is segmented as hydrophobic and hydrophilic PTFE membranes. Hydrophobic PTFE membrane bears a larger share of the segment, owing to its exceptional properties, such as thermal steadiness, inertness, elevated chemical compatibility, remarkable particle withholding, effortlessness in handling and sealing, compatibility with fumigation, high flow rates, and filtration competence. However, the hydrophilic PTFE membrane segment is estimated to grow at a higher growth in the coming five years, driven by its demand in diversified applications, such as medical & pharmaceutical, chemical processing, and electronic chemicals.
Based on the application type, the market is segmented as industrial filtration, textiles, medical & pharmaceutical, water & wastewater treatment, architecture, and others. The industrial filtration segment is the largest application type segment in the PTFE membrane market. The growth is attributed to its high demand in industries, such as food & beverage and petrochemicals. On the other side, the water & wastewater treatment is estimated to be the fastest-growing segment during the forecast period. The growth is attributed to the growing water treatment ventures across the board along with the increasing water decontamination and handling of industrial wastewater.
In terms of regions, Asia-Pacific is the leading region in the PTFE membrane market in terms of both value and volume. It is also expected to maintain its dominance in the coming five years. China, India, Japan, and Indonesia are the growth engines of the region. The market is driven by the growing demand for PTFE membrane from industries, such as pharmaceutical & medical and food & beverage. North America and Europe are also expected to offer considerable growth opportunities during the forecast period.
Key Players:
Some of the major players in the PTFE membrane market are General Electric Company, Pall Corporation, W. L. Gore & Associates, Inc., Corning Inc., Merck Millipore Co., Donaldson Company, Inc., Hyundai Micro Co., Ltd., Layne Christensen Company, Markel Corporation, and Sartorius AG.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The PTFE Membrane Market analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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