Global Expanded PTFE (ePTFE) Market: Overview
The global Expanded PTFE (ePTFE) market will see a decent growth trajectory over the forecast period of 2019 to 2027. The steady CAGR (Compound Annual Growth Rate) will chart an upward curve, creating fresh growth opportunities– something market players would hustle to make the most of. Besides, it will lead to a higher market worth.
Major factors behind the stated growth will be increasing demand in the oil and field industry. And, there is also an increase in demand from the chemical end-use and transportation industry. The properties of ePTFE such as corrosion resistance, chemical inertness and thermal stability will also contribute to the growth of global expanded PTFE market positively. It is mainly because these properties fit the bill for PTFEs use in gaskets, seals, slide plates, vessel linings, drilling parts, etc.
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Global Expanded PTFE (ePTFE) Market: Notable Development
The global expanded PTFE market is witnessing a slew of notable developments that are shaping the way market would operate over the coming years. A deep dive can be had in our upcoming report.
In 2018, Zeus Industrial Products expanded its operations in Aiken County by beginning a new facility for manufacturing. The aim seems to be tapping into growing European demand for PTSE. It also helps the company to expand footprint on the globe.
The global expanded PTFE market is slightly consolidated and prominent players in the market include 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). Players are focusing on improving their products to keep an edge over competitors.
Global Expanded PTFE (ePTFE) Market: Key Trends and Drivers
A number of factors are at play, shaping the landscape of global expanded (ePTFE) market. They are influencing how growth will market the market landscape over the period. A glimpse is shared below.
- One of the biggest demands will be generated from the medical industry where it is used for human contact with body tissue but also in a number of medical devices. This growth in the industry is attributable to rising geriatric population, which is generating demand for both devices and human contact with tissue. It is expected that this population will be huge by 2050 – one in four people will lie in this age bracket (65 and above). Additionally, already in 2018, the number of people in the geriatric bracket surpassed the number of peopled aged 5 and below, creating history as in no other time has such a demographic shift been observed. Besides, in North America and Europe, one in four people will fall into this bracket.
- Growth in automotive industry will be steady despite an expected slowdown. And, as it grows, so will the demand for ePTFE. Also, it is important to note here that transportation as an overarching segment is witnessing increase in demand for Expanded (PTFE). As people experience higher purchasing power and grow in number at a considerable pace, need for transportation for both goods and people will only see an upward curve.
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Global Expanded PTFE (ePTFE) Market: Geographical Analysis
The Asia Pacific region will see a high CAGR and will be the fastest growing market over the forecast period. Besides, it will account for a large share of the market growth. The growth will be attributable to increased demand from chemical, medical and transportation industries. China is already in the process if scaling up its manufacturing. Other factors of growth include increase in investment in automotive industry.
Disclaimer: This ongoing market research study is a meticulously planned activity where a broad array of factors and aspects that shape the marketing environment and industry are taken into account. However, keeping in mind the constantly changing nature of business dynamics and changing strategic intents, we are always actively making iterations and modifications in our approaches. As always, we are ready to tailor our insights and guidance to suit your requirements. Engage with us to know what more is there for your CXOs.