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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 growing demand for PTFE membranes is due to the increasing wastewater treatment activities and stringent regulations regarding emissions and water treatment.
+ Driver: Stringent regulations pertaining to emission and treatment of municipal and industrial wastes
Stringent regulatory and sustainability mandates have increased the demand for water purification and wastewater treatment. To control the level of pollution, various emission control acts have been enforced in most countries around the world to ensure that disposed wastes pose lower environmental risks.
+ Restrain: High production cost of PTFE membranes
The major raw material used for the manufacturing of PTFE membranes is PTFE. Recently, PTFE prices have been increasing continuously due to the shutdown of various Chinese and European manufacturing units. These companies were flouting environmental laws and dumping effluents in nearby villages.
+ Opportunity: Increasing demand for treated water in emerging economies
The demand for treated water in emerging economies, such as China, India, and Indonesia, is increasing at a fast pace. According to CABI, a member of The Association of International Research and Development Centers for Agriculture (AIRCA), APAC alone consumes around 2.85 trillion cubic liters of water every day.
+ Challenge: Fluctuating oil and gas prices
In the current scenario, the oil & gas industry is witnessing a high supply and low demand ratio, which has resulted in reduced prices. Increased activity in unconventional reserves in North America has led to the oversupply of oil and gas, leading to low prices.