Market Trends of PTFE Fabric Industry
This section covers the major market trends shaping the PTFE Fabric Market according to our research experts:
Increasing Demand in Filtration Technology
- PTFE Fabric is a teflon coated woven fiberglass membrane that is extremely durable and temperature resistant. This unique combination of inertness, thermal stability and surface properties (non-sticky nature) make PTFE fabric ideal for all end user industries where filtration application is used.
- It is estimated that a total of 5000 chemical and pharmaceutical manufacturing units were registered in China, and around 242 new pharmaceutical and chemical companies were registered in 2018 where the major application of PTFE fabrics is estimated indicating an increasing demand for PTFE fabric in the coming years.
- In India investment in processing industries sector has grown from USD 29.50 billion in 2015 to USD 32.30 billion in 2019, witnessing a growth rate of 9.50% creating a large scope for this sector.
- PTFE fabric has a greater strength because of carbon-fluorine bonds, it is non-sticky in nature and even has thermal stability because of these advantages has its application in all processing industries.
- Owing to all the above-mentioned advantages of PTFE fabric, its market expected to grow rapidly over the forecast period.
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Asia-Pacific Region to Dominate the Market
- Asia-Pacific region dominated the global market share. With growing end user and processing industries in countries such as China, Japan and India the utilization of PTFE fabric is increasing in the region.
- Some of the leading producers of ptfe fabric are Chukoh Chemical Industries Ltd (Japan)Sefar AG (India), Saint-Gobain, Honda Sangyo Co.Ltd, QINGDAO Bocheng Industrial Co.Ltd. Japan is one the largest producers of PTFE fabric in the world.
- India's domestic pharmaceutical market turnover reached USD 18.12 billion in 2018, growing 9.4 per cent year-on-year from USD17.87 billion in 2017. This creates a major scope for this market in the utilization of PTFE fabric in the coming future.
- About 296 Approved Cold Chain Projects in food processing industryhave been approved in India as on May 2019 creating an increasing application of PTFE fabrics.
- PTFE fabrics have broad chemical resistance, superior durability over a wide service temperature range, excellent dielectricproperties, low friction and non-stick all together increasing its application in all end user industries.
- The aforementioned factors, coupled with government support, are contributing to the increasing demand for usage of PTFE fabric among major industries in the region during the forecast period.
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