“Increasing demand from oil & gas and chemical end-use industries to drive the overall growth of the ePTFE market.”
The ePTFE market size 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 ePTFE market is driven by various factors, such as increasing demand from chemical, oil &gas, and transportation industries. The growth of these industries is anticipated to further propel the growth of the market over the forecast period. However, the high manufacturing cost of ePTFE is likely to hinder the growth of the market.
Gaskets segment to drive the global 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 over the forecast period. The market growth in this segment is attributed to its flexible nature, which makes it a useful sealing material in bolted flange joints in pipelines, hydraulic systems, and pneumatic systems. These factors are expected to drive demand during the forecast period.
Oil & gas segment expected to hold the largest market share during the forecast period
The oil & gas segment is growing rapidly owing to the various properties of ePTFE, including chemical inertness, thermal stability, and corrosion resistance make it suitable for use in vessel linings, seals, gaskets, spacers, plain bearings, gears, pipes, slide plates, and drilling parts. These factors are expected to drive the demand for polyurethane in paints & coatings application.
APAC is expected to record the highest growth rate during the forecast period
APAC is expected to have the highest growth rate during the forecast period due to the increasing usage of ePTFE in various end-use industries such as oil & gas, chemical, medical, and transportation, among others. China, India, Japan, and South Korea provide enormous opportunities for the ePTFE market due to the presence of a large manufacturing sector and growing construction industry. On the other hand, North America is projected to hold the second-largest market size during the forecast period.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the PUDs marketplace.
- By Company Type - Tier 1: 30%, Tier 2: 30%, and Tier 3: 30%
- By Designation - C Level: 30%, Managers: 50%, Others : 20%
- By Region – North America: 30%, Europe: 30%, APAC: 10%, Middle East & Africa: 10% and South America: 10%
The ePTFE market comprises major solution providers, such as 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). The study includes an in-depth competitive analysis of these key players in the ePTFE market, with their company profiles, recent developments, and key market strategies.
- The report covers the ePTFE market based on form, application, end-use industry, and region.
- This study aims at estimating the size and future growth potential of the market across various segmentation types. It also includes an in-depth competitive analysis of the key market players, along with their profiles and key growth strategies.
Key Benefits of Buying the Report:
- The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall ePTFE market and the sub-segments. This report wil
- l help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies.
- The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.