WASHINGTON, Dec. 01, 2022 (GLOBE NEWSWIRE) -- The Global Automotive Venting Membrane Market is valued at USD 173.6 Million in 2021 and is projected to reach a value of USD 208.4 Million by 2028 at a CAGR (Compound Annual Growth Rate) of 3.10% over the forecast period 2022-2028.
One of the most significant economic areas is the automotive venting membrane business, and consistent expansion is projected going forward. Despite the industry's turmoil, numerous things could affect its development or demise. This study assesses both the current trends and the anticipated future changes to provide a full insight of the sector. Additionally, it provides details on the significant industry players and their expansion strategies.
The report provides a thorough analysis of international producers and suppliers and their current situation and future prospects. It also goes into detail about the global drivers of the demand for automotive venting membranes, including rising investment requirements, developing technology, and new laws.
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Automotive Venting Membrane Market Overview
According to Vantage Market Research, some key factors anticipated accelerating the automotive venting membrane market growth over the forecast period. The need for vehicle ownership is being met by an increasing number of automotive industries worldwide, promoting the expansion of the automotive venting membrane market. The high demand for the newest electrical components for greater performance and improved efficiency is also influencing the rising market demand.
We forecast that the PTFE and ePTFE membranes category in automotive venting membrane market sales will account for more than 30% of total sales by 2028. The demand for automotive venting membranes is anticipated to increase in the upcoming years due to the increased availability of ePTFE and PTFE venting membranes for automobiles.
Asia Pacific dominates the market, and this trend of dominance will continue throughout the projection period. The enormous demand from developing nations like China and India as well as the increase in consumer per capita income, are both responsible for the market expansion. Additionally, rising living standards worldwide are fueling demand for the global automotive venting membrane market.
Top Players in the Global Automotive Venting Membrane Market
Membrane Solutions LLC
Clarcor Industrial Air
Advantec MFS Inc.
Hangzhou IPRO Membrane Technology Co. Ltd.
Sumitomo Electric Industries Ltd.
Trinity Technology Group
Automotive Venting Membrane Market Dynamics
Increase in Product Awareness will Accelerate Market Growth
It is predicted that rising consumer product knowledge will boost market expansion. The product, which transmits sound through speakers and microphones, is believed to hasten market expansion. It offers a practical solution and lengthens the lifespan of device gaskets and seals. The product enhances the functionality of electronic devices, which is expected to fuel market expansion.
High Product Demand in the Electronics Sector to Speed Market Growth
According to estimates, rising consumer demand for electronics products will hasten industry expansion. Due to its great efficiency and ability to prevent damage to electronic components, the product is employed in electronic devices. It is projected that these product features will quicken market expansion in the years to come.
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Top Trends in Global Automotive Venting Membrane Market
One trend that Vantage Market Research (VMR) expects to see in the automotive venting membrane industry is the utilization of advanced materials. Automotive makers are adopting more and more high-performance materials in their cars to keep up with consumer demands for better fuel economy and pollution reduction.
Another trend that VMR predicts will continue in the automotive venting membrane industry is the rising demand for electric cars. Electronics are being used in cars more frequently to improve the driving experience and make operations easier due to the growing demand for electric vehicles around the world. Aside from being lighter and offering more accuracy than mechanical components, electronic components are also more compact.
Top Report Findings
Based on nature, most of the automotive venting membrane market's revenue is controlled by the hydrophobic category since these membranes are better at preventing water penetration and less susceptible to absorbing water.
Based on product type, the PTFE and ePTFE membranes category dominated the automotive venting membrane market, and it is anticipated that this trend will continue. These membranes are perfect for fuel injection, exhaust systems, and air conditioning.
Based on application, the electronic control unit’s category dominated the automotive venting membrane market, and this trend is anticipated to continue. This is brought on by rising consumer demand for cutting-edge safety and fuel-efficient car technologies.
Top 10 Players Generates More Than 45% of the Global Automotive Venting Membrane Market Revenue
The report also found that the largest players in the automotive venting membrane market are technology providers such as Membrane Solutions LLC, Rogers Corporation, Clarcor Industrial Air, Advantec MFS Inc and Hangzhou IPRO Membrane Technology Co. Ltd. These companies are expected to benefit from increased demand for their products and services, as well as growing investments in new products. Other major players include Membrane Solutions LLC, Rogers Corporation, Clarcor Industrial Air, Advantec MFS Inc., Hangzhou IPRO Membrane Technology Co. Ltd., Sterlitech Corporation, Porex Corporation, Sumitomo Electric Industries, Ltd., Trinity Technology Group and others. and others. As per latest report published by Vantage Market Research, top 10 companies are responsible for generating more than 45% revenue of the market.
PTFE and ePTFE membranes Category in Automotive Venting Membrane Market to Generate Over 30% Revenue
Automotive venting membrane is an expensive investment. Vantage Market Research has analyzed the market for automotive venting membrane to understand its current state and potential future growth factors. For better understanding, based on product type the automotive venting membrane market is divided into: PTFE and ePTFE membranes, polypropylene (PP) membranes and other automotive venting membrane.
During the forecast period, the market for PTFE and ePTFE membranes are anticipated to experience the highest CAGR for the high thermal conductivity substrate category. PTFE and ePTFE membranes provide the ability to control contamination and increase the service life of automobiles. In terms of particulate removal, it is also very effective. They are made of a very strong, breathable material that controls condensation and moisture.
On the other hand, the polypropylene (PP) membranes category is anticipated to grow significantly over the forecast period because of their affordable price and strong mechanical qualities. It makes it easier for devices to endure harsh conditions and allows hot fluids to be dispensed from the container.
Browse market data Tables and Figures spread through 150 Pages and in-depth TOC on Automotive Venting Membrane Market Forecast Report (2022-2028).
Global Automotive Venting Membrane Market Segmentation
By Product Type
PTFE and ePTFE Membranes
Polypropylene (PP) Membranes
Other Automotive Venting Membrane
Electronic Control Units
Middle East & Africa
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