High demand in construction industry, product launches, increasing strategic developments such as partnerships and agreements, are key factors contributing to high CAGR of PTFE Fabrics during forecast period.
Market Size – USD 670.8 Million in 2018, Market Growth - CAGR of 5.3%, Market Trends – Product launches and global awareness led to capacity expansion by manufacturers.
NEW YORK, May 20, 2019 (GLOBE NEWSWIRE) -- According to the current analysis of Reports and Data, the global PTFE Fabrics market was valued at USD 670.8 Million in 2018 and is expected to reach USD 1010.2 Million by year 2026, at a CAGR of 5.3%.
Polytetrafluoroethylene (PTFE) is a Teflon-coated woven fiberglass membrane that has biochemical properties which makes it ideal for projects which needs superior weather and fire resistance.
Properties such as non-stick, friction-free, and non-brittle are the driving factors of the global PTFE fabric market during the forecasted areas. The global market will also be fuelled by introduction of PTFE fabrics for the production of gaskets, seals, and bearings for chemicals, gases, oils, chutes, hoppers, and troughs as they are known to be non-sticky. High manufacturing cost of PTFE coated fabrics compared to PVC coated fabrics is the key factor restraining the growth of the market.
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Further key findings from the report suggest
- PTFE fabric Market is fastest growing at a CAGR of 8% in Asia Pacific followed by Europe and North America respectively. Asia Pacific segment is led due to growing demand from end-use industries, such as food, construction, and filtration.
- The nonwoven fabric segment is expected to be the largest type segment of the PTFE fabric market during the forecast period. PTFE-based nonwoven fabrics are extensively used in composites manufacturing.
- The emerging economies of Malaysia, Indonesia, and South Korea are expected to be key contributors to the soaring revenue of the Asia Pacific PTFE fabric market.
- The building and construction segment is the key consumer of PTFE fabric during the forecast period, because of high demand for pipe and line fittings, tubes, and rods.
- North America and Europe PTFE fabric market is expected to grow at a slow-pace in the near future.
- Key participants include 3M, Birdair, Chukoh Chemical Industries and Saint-Gobain Performance Plastics.
- Recently, on-going technological advancements and launch of new products are some lucrative opportunities for the market to grow in the near future.
- The price volatility of raw materials might act as the impeding factor for the market growth.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/polytetrafluoroethylene-ptfe-fabrics-market
Segments covered in the report:
For the purpose of this report, Reports and Data have segmented the Silicon Nitride market on the basis of product type, grade, application, end use, and region:
Product Type (Revenue, USD Million; 2016–2026)
- PTFE Coated Fabric
- Nonwoven Fabric
- PTFE Fiber-Made Fabric
End Use (Revenue, USD Million; 2016–2026)
- Food
- Construction
- Filtration
- Others
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Regional Outlook (Revenue, USD Million; 2016-2026)
- North America
- U.S.
- Europe
- UK
- France
- Asia Pacific
- China
- India
- Japan
- MEA
- Latin America
- Brazil
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