According to the current analysis of Reports and Data, the global Teflon Market was valued at USD 743.5 Million in 2020 and is expected to reach USD 1,123.1 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.
Key participants include 3M, Birdair, Chukoh Chemical Industries, Saint-Gobain Performance Plastics.
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.
- 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.
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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; 2020–2028)
- PTFE Coated Fabric
- Nonwoven Fabric
- PTFE Fiber-Made Fabric
End Use (Revenue, USD Million; 2020–2028)
- Food
- Construction
- Filtration
- Others
Regional Outlook: (Revenue, USD Million; 2020–2028)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa (MEA)
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