The global PTFE membranes market size is estimated at USD 1.8 billion in 2020 and is projected to reach USD 2.4 billion by 2025, at a CAGR of 6.0. The demand for PTFE membranes is increasing, owing to the growing growing oil & gas and chemical industries and stringent regulations pertaining to emission and treatment of municipal and industrial wastes.
APAC is estimated to be the largest and the fastest-growing PTFE membrane market during the forecast period. The growth of the market in this region is primarily attributed to the rapidly growing population, urbanization, and industrialization. The growing demand from the food & beverage processing, medical & pharmaceuticals, and water & wastewater treatment is playing a crucial role in fueling the market for PTFE membrane in APAC. Implementation of strict regulations regarding water treatment & industrial wastewater discharge is also expected to drive the PTFE membrane market in the region.
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The recent COVID-19 pandemic is expected to impact the various industries globally. Due to lockdown, many food & beverage processing industries, textile, and water & wastewater treatment industries activities are halted. For instance; Tyson Foods (US), a leading meat processing company, restricted its pork processing by nearly 50% and beef production by about 25% by May 2020. The companies are taking precautions to avoid the spread of the virus. Governments of different countries are keeping a close watch on the disruption and taking every necessary step to mitigate the impact of COVID-19 by promoting food processing. Even after the lifting of lockdown, it will be challenging for PTFE membrane manufacturers to get back to normal working situations. Similarly, economies such as China, India, and others are also facing the brunt of the Covid-19 pandemic.
The increase in demand for EPTFE membranes in medical accessories, microfiltration and venting applications and also increasing demand for treated water in emerging economies are expected to create opportunities for manufacturers during the forecast period. The key players in the PTFE membranes market include Pall (US), Cytiva (US), W.L. Gore (US), Merck Millipore (US), Corning (US), Donaldson (US), Saint Gobain (France), Markel (US), Sartorius (Germany), and Hyundai Micro (South Korea). The PTFE membranes market report analyzes the key growth strategies, such as new product launch, investment & expansion, and merger & acquisition adopted by the leading market players between 2016 and 2020.
GCP Applied Technologies (US) one of the largest manufacturer of construction products globally. The company is among the key players in the PTFE membranes market. The company believes in sustainability for creating value. Its strategy is focused on mergers and acquisitions, and expansions to expand its global reach and strengthen its competitiveness in the global PTFE membranes market. For instance, in 2020, the company is building a new 7,360 square meter facility in Grens, Switzerland for the manufacturing of single-use kits. This facility will meet global regulatory requirements and is expected to be fully operational in 2022. Furthermore, The company expanded its PTFE membrane product offerings by acquiring the GE Healthcare Life science from General Electric Company (US) in April 2020.
Merck Millipore (US) is one of the leading players in PTFE membranes market. In July 2020, The company majorly focuses on investment & expansion strategy. The company announced an investment of USD 21.23 million to build a laboratory facility in Buchs, Switzerland, to support its rapidly growing material business. This will help to continue to drive innovation and expand the R&D of analytical standards. With this expansion, the company is gearing up to become a world-scale manufacturer of PTFE membrane, which is used for major applications, such as pharmaceuticals, and industrial filtration.
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