The PTFE fabric market is projected to grow from USD 690.8 million in 2018 to USD 908.1 million by 2023, at a CAGR of 5.6% from 2018 to 2023. The increasing consumption of PTFE fabrics in various end-use industries, such as food, filtration, and construction, is the primary factor driving the growth of the PTFE fabric market. A PTFE membrane treatment is given to the protective apparel in order for the apparel to exhibit PTFE properties. PTFE exhibits superior inherent properties, such as high-temperature resistance, chemical inertness, high flexural resistance, resistance to water, high electrical resistance, and dielectric strength, among other properties.
The PTFE fabric market has been segmented on the basis of type into PTFE coated fabric, nonwoven fabric, and PTFE fiber-made fabric. Amongst these, the nonwoven fabric segment is projected to grow at the highest CAGR from 2018 to 2023. Increased use of PTFE-based nonwoven fabrics in composites manufacturing is the main reason for the high growth of the segment.
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Based on end-use industry, the food segment is projected to grow at the highest rate between 2018 and 2023. PTFE fabrics are used in the food processing and pharmaceutical industries in the form of high temperature resistant and chemically inert conveyor belts.
The Asia Pacific region is the leading market for PTFE fabrics, followed by North America and Europe. These regions are the leading markets due to the presence of leading food processing and pharmaceuticals industries in this geography.
Developmental strategies such as expansion, acquisition, new product launch, contract, and consolidation have been adopted by leading market players to meet the growing demand for PTFE fabric from various end-use industries. The PTFE fabric market is witnessing growth due to the various market players expanding their areas of operation and production capacities to strengthen their market positions. Future trends in the market will largely depend on investments in the food processing industry, new areas of application for PTFE fabrics, and availability of raw materials.
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With a large number of global and local players, the PTFE fabric market is very competitive in nature. Taconic (US), FIBERFLON (Turkey), Saint-Gobain Performance Plastics (France), W. L. Gore & Associates, Inc. (US), and Daikin Industries (Japan) are the leading companies in the PTFE fabric market. PTFE fabrics are extensively used in the Asia Pacific, North American, and European regions. These regions are high volume organized markets for the food processing, construction, and chemical industries. Hence, players in the PTFE fabric market can carry out organic and inorganic growth strategies to enhance their presence and share in the market.
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