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.
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.
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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.
Related Reports:PTFE Membrane Market by Type (Hydrophobic and Hydrophilic), Application (Industrial Filtration, Medical & Pharmaceutical, Textiles, Water & Wastewater Treatment, Architecture), and Region - Global Forecast to 2025
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