The report “Expanded PTFE (ePTFE) Market by Form (Sheets, Tapes, Membranes, Fibers), Application (Gaskets, Filtration & Sepration, Dielectric Constant), End-Use Industry (Oil & Gas, Chemical, Medical, and Transportation), and Region – Global Forecast to 2024″ The ePTFE market is expected to grow from USD 816 million in 2019 to USD 1,105 million by 2024, at a CAGR of 6.2% during the forecast period. The major factors driving the ePTFE market include increasing demand from various end-use industries such as oil & gas, chemical, medical, and transportation among others.
Sheets to dominate the global ePTFE market during the forecast period
The ePTFE market has been segmented based on form into sheets, tapes, membranes, fiber, and others. Among these, the sheets segment accounted for the largest share of the market in 2018. The growth in this segment is attributed to its increasing usage of sheets because it possesses excellent chemical and UV resistance, which makes it a popular sealing material in the food & beverage, aerospace, and pharmaceutical industries. These factors are expected to drive demand during the forecast period.
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Gaskets to dominate the global ePTFE market during the forecast period
The ePTFE market has been segmented based on application into gaskets, filtration & separation, dielectric constant, and others. Among these applications, the gaskets segment accounted for the largest share of the market in 2018 and is likely to witness significant growth over the forecast period. The increase in this segment is attributed to its increasing usage in various end-use industries due to its excellent mechanical & physical properties and the flexible nature of ePTFE, which makes it an excellent choice for gasket application as it can be easily molded into various gasket shapes and sizes. These factors are expected to drive demand during the forecast period.
APAC is expected to hold the largest market size in the global ePTFE market during the forecast period
APAC is estimated to be the leading ePTFE market during the forecast period. The growth in the APAC region can be attributed to the rising demand for ePTFE from various end-use industries such as oil & gas, chemical, medical, and transportation, among others. The presence of a robust industrial base, favorable government policies, and low labor costs are further strengthening the ePTFE market and attracting major players to invest in APAC.
W.L. Gore & Associates, Inc. (US), Donaldson Company, Inc. (US), Teadit (Austria) Zeus Industrial Products, Inc. (US), Dexmet Corporation (US), Phillips Scientific, Inc. (US), Rogers Corporation (US), Poly Fluoro Ltd (India), Markel Corporation (US), Shanghai Lanle Plastics Co., Ltd (China), are the key players operating in the ePTFE market.
W.L. Gore & Associates, Inc. (US), Donaldson Company, Inc. (US), Teadit (Austria) Zeus Industrial Products, Inc. (US), Dexmet Corporation (US), Phillips Scientific, Inc. (US), Rogers Corporation (US), Poly Fluoro Ltd (India), Markel Corporation (US), Shanghai Lanle Plastics Co.Ltd (China) among others are the leading ePTFE manufacturers globally. These companies adopted new product development, and expansion as their strategies between January 2015 and August 2019 to earn a competitive advantage in the ePTFE market.
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W.L. Gore & Associates, Inc. (US), is one of the leading players in the ePTFE market. The company has been focusing on both organic and inorganic strategies to maintain its leading position in the market. For example, in April 2016, the company launched low drag filter bags. This innovative product is used in fume and excellent powder applications. This has benefitted the company by increasing airflow, fan efficiency, flow capacity, and durability of the product. This new product development is expected to strengthen the companys product portfolio and will help in strengthening its position in the global market.
Zeus Industrial Products, Inc. (US) is another major player in the ePTFE market. In February 2018, the company expanded its manufacturing facility in Aiken County. The expansion will help the company in offering advanced ePTFE products to its consumer and is also expected to create an additional 51 new jobs in Aiken, S.C. The new manufacturing facility will help the company to meet the growing demand in Europe and expand its footprint globally and tap the untapped market.
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