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PTFE Membrane Market size is projected to reach US$3.5 billion by 2027, after growing at a CAGR of 7.6% during the forecast period 2022-2027.
HYDERABAD, TELANGANA, INDIA, November 25, 2022 /einpresswire.com / -- The ptfe membrane market size is projected to reach US$3.5 billion by 2027, after growing at a CAGR of 7.6% during the forecast period 2022-2027. PTFE membrane is a high-molecular-weight fluoropolymer consisting of carbon and fluorine. Filters are strong and resistant to acids, bases and solvents and stable at high temperatures. These filters are chemically compatible with strong acids and the most aggressive solvents such as alcohols. The rising automotive sector is driving the PTFE membrane market growth, it is utilized as a venting membrane for automotive systems applications. The growing medical & healthcare industry is anticipated to drive the demand for PTFE membrane in vents, as a coating on catheters and sensors from fluids are used for protecting equipment and other applications. Moreover, the increasing requirement for PTFE membranes in the foods and beverages industry for separation and filtration of food and beverage during their production process is anticipated to upsurge the growth of the PTFE membrane industry in the forecast period. The global economic downturn caused by the COVID-19 pandemic resulted in a huge drop in consumer electronics, textiles, automotive and other end-use industries all across the world, which had a significant impact on the growth of the PTFE membrane market size.
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This IndustryARC report on the PTFE Membrane market highlights the following areas -
1. The Asia Pacific region dominates the PTFE Membrane market owing to the rising growth in the foods & beverages industry. For instance, in February 2022, TH Group commenced the development of the Thai Binh food processing factory in the northern province of Thai Binh's Quynh Ph district in Vietnam.
2. The overall cost of the project reached up to VND 620 billion (US$27 million) and aims at producing fresh, clean and completely natural food products.
3. Rapidly rising demand for PTFE Membrane in the medical & healthcare industry in vents, sensors from fluids, for protecting equipment and other applications, has driven the growth of the PTFE membrane market.
4. The increasing demand for PTFE Membrane in the automotive sector, due to its usage as a venting membrane for automotive systems applications, has been a critical factor driving the growth of the PTFE membrane market in the upcoming years.
5. However, the high manufacturing price of PTFE Membrane can hinder the growth of the PTFE membrane market.
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1. PTFE Membrane Market Segment Analysis – by Type : The Hydrophobic membranes segment held the largest PTFE Membrane Market share in 2021 and is expected to grow at a CAGR of 7.8% during 2022-2027. The hydrophobic PTFE membrane type is the most extensively utilized PTFE membrane due to its various physical characteristics such as chemical & abrasion resistance, high porosity, particle retention, high filtration efficiency, convenience in handling and high flow rates.
2. PTFE Membrane Market Segment Analysis – by End-use Industry : The medical and healthcare industry held the largest PTFE Membrane Market share in 2021 and is expected to grow at a CAGR of 8.1% during 2022-2027. The rise in the aging population and advancements in medical devices will increase the usage of PTFE membranes, such as in vents on IV filters and spike vents, sensors from fluids and contamination, as a coating on catheters, for protecting equipment and other applications.
3. PTFE Membrane Market Segment Analysis – by Geography : Asia-Pacific region dominated the PTFE Membrane Market share by 43% in the year 2021, due to the increasing requirement for PTFE membranes in developing countries such as China, Japan, India and South Korea. China, India and Taiwan are expected to continue their dominance in the PTFE membranes market during the forecast period, in applications such as vents on IV filters, as a coating on catheters, for protecting equipment and other applications.
The top 5 players in the PTFE Membrane industry are:
3. W.L. Gore
4. Merck Millipore
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