Global Polytetrafluoroethylene (PTFE) Membrane Market 2019-2023 | 7% CAGR Projection over the Next Five Years | Technavio
LONDON--(BUSINESS WIRE)--Oct 11, 2019--
The polytetrafluoroethylene (PTFE) market size is expected to post a CAGR over 7% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global polytetrafluoroethylene (PTFE) membrane market 2019-2023. (Graphic: Business Wire)
The increasing adoption of PTFE membranes in the medical and pharmaceutical sector is one of the major factors driving the PTFE market growth. PTFE membranes have become the most preferred choice in medical and pharmaceutical applications due to their high strength and durability. They are widely known for their resistance against chemicals and corrosion. PTFE membranes can withstand high temperature and pressure applied during the sterilization process. As a result, they are widely used in implantable medical devices such as medical stent grafts. They are also used in protein-resistant and sterile filters, seals, gaskets, tubing, and immune-diagnostic instruments. PTFE membranes are effective against humidity in the packaging of sensitive biopharmaceutical products, owing to their natural hydrophobic nature. Such applications and benefits of PTFE membranes will significantly increase their adoption during the forecast period.
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As per Technavio, the increasing adoption of nanofiltration membranes will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Polytetrafluoroethylene (PTFE) Market: Increasing Adoption of Nanofiltration Membranes
Nanofiltration membranes have gained immense popularity recently and are being widely used in the water and wastewater treatment, medical and pharmaceutical, and food and beverages industries. They are being preferred in various industrial applications mainly due to their higher flux rate, lesser energy consumption, and the cost-effective nature when compared with reverse osmosis. Nanofiltration can also remove several unwanted contaminants, particles, and microorganisms such as bacteria, colloids, viruses, suspended particles, multivalent ions, and monovalent ions. Nanofiltration is cost-effective compared with reverse osmosis as it uses fewer fine membranes and feeds pressure. Therefore, the migration from reverse osmosis to nanofiltration will positively influence the demand for PTFE membranes during the forecast period.
“Apart from the increasing adoption of nanofiltration membranes, factors such as the growing demand for PTFE membrane-based fabrics, and the increasing penetration of expanded polytetrafluoroethylene (ePTFE) will drive the growth of the PTFE membrane market during the forecast period, ” says a senior analyst at Technavio.
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Polytetrafluoroethylene (PTFE) Market: Segmentation Analysis
This market research report segments the polytetrafluoroethylene (PTFE) market by type (hydrophobic, and hydrophilic), application (filtration, medical and pharmaceutical, textile, water and wastewater treatment, architecture, and other applications) and geographic regions (APAC, North America, Europe, South America, and MEA).
The APAC region led the market in 2018, followed by North America, Europe, South America, and MEA respectively. The market dominance of APAC can be attributed to the increasing demand for PTFE membranes from the commercial and industrial sectors. China, India, Japan, South Korea, Australia, Thailand, Indonesia, and Vietnam are some of the main revenue-generating countries in the PTFE membrane market in APAC.
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Five Forces Analysis
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INDUSTRY KEYWORD: MEDICAL DEVICES SURGERY PACKAGING CHEMICALS/PLASTICS MANUFACTURING PHARMACEUTICAL HEALTH
SOURCE: Technavio Research
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PUB: 10/11/2019 06:30 AM/DISC: 10/11/2019 06:30 AM