The global expanded PTFE (ePTFE)marketsize isanticipated to derive gains accountable to the increasing demand from chemical and oil & gas industries worldwide.ePTFEstands for polytetrafluoroethylene membranes andis a dynamic material with high tensile strength and durabilityand can be applied to numerous elements without the fear of cracking or creasing.A recent report by Fortune Business Insights offers a comprehensive overview of the market and its future growth opportunities.
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What is the Scope of the Report?
The report offers an in-depth analysis of the market and its growth trajectories such as drivers, restraints, upcoming opportunities, and probable challenges. It talks about the nature of the market and providesthe list of significant players and the major strategies adopted by them to gain a competitive edge in the market. The report also lists the key industry developments and current trends prevalent in this market. For more information on the report, refer to the company website.
Drivers & Restraints-
Increasing Demand from Transportation and Chemical Sectors will Boost Market
Expanded PTFE is used in several applications such as grafts, sheets, multi-lumen tubing, ribbon, patches, and many others owing to their high strength and porous features. This stands as a major factor in promoting the ePTFE market growth. This, coupled with the UV and thermal resistance, and chemical inertness are also aiding to the expansion of the market in the coming years. Additionally, the rise in demand from the chemical, transportation, medical, electronics, and oil and gas industries for making gaskets is likely to add impetus to the market in the coming years.
On the contrary, factors such as high production cost of ePTFE and the fluctuating prices of gas and oil are likely to aid in the expansion of the market in the coming years. Nevertheless, the rise in the use of ePTFE for producing venting applications, medical products, and microfiltration products are likely to create substantial revenue-generating opportunities for the market in the coming years.
Segment:
Majority of End-Use Segments Have High Demand for Expanded PTFE Owing to its Tensile Strength
The market is categorized based on form and end-user. The form segment is further segmented into tape, tube, sheet, membrane, and others. On the other side, the end-use segment is further classified into electrical and electronics, oil & gas, medical, transportation, and others.
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Regional Analysis-
Asia Pacific is Dominating Market with High Sale from China, India, and Taiwan
Regionally, the global market for expandable PTFE is classified into the regions of Europe, North America, Asia Pacific, Latin America, and the Middle East and Africa. Among these, Asia Pacific is holding the largest ePTFE market share with a major contribution from Taiwan, China, and India. North America ranks second followed by Europe. On account of the imposition of stringent regulations by Registration, Evaluation, Authorization, and Restriction of Chemicals (REACH), both these regions will witness significant growth in the near future.
Competitive Landscape-
Players Focusing on Expansion of Product Portfolio for Gaining Competitive Edge
Most of the players operating in the market for expandable PTFE are investing heavily on the expansion of their product portfolio into various geographies to gain dominance in the market. On the other hand, other players are engaging in mergers and acquisitions, partnerships, and joint ventures for gaining a notable position in the competition.
Key Industry Developments of the Market include:
April 2019 – Landon Capital Partners LLC, and Akoya Capital Partners LLC entered into a strategic collaboration and acquired the US-based Trinity technology Group under a contract amount left publicly undisclosed.
July 2019 – Trinity Technology Group, one of the prominent players of the expandable PTFE market declared to expand its facility in a location in Missouri, in the United States.
Fortune Business Insights™ lists out the names ofePTFE market manufacturers. They are as follows:
- Philips Scientific Inc.
- Markel Corporation
- Trinity Technology Group
- Dimer Group
- L. Gore & Associates,Inc.
- Yeu Ming Tai (YMT) Chemical Industrial Co., Ltd.
- Teadit Group, Inc.
- Shanghai lanle plastics Co., Ltd.
- Zeus Industrial Products, Inc.
- Sanghvi Techno Products
- Rogers Corporation
- Donaldson Company, Inc.
- Polyfluoro Ltd.
- Other vendors
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