The choice between pipe thread sealant tape and liquid sealant depends on the specific application and requirements. 
Pipe thread sealant tape, commonly known as Teflon tape, is easy to use, clean, and provides a quick solution for sealing threaded pipe connections. It is non-messy, requires no curing time, and is ideal for DIY projects or situations where disassembly might be needed in the future. Teflon tape is particularly effective for water and air connections, offering a reliable seal that prevents leaks. However, it may not be suitable for high-pressure or high-temperature applications, as it can degrade under extreme conditions.
Liquid sealants, on the other hand, offer a more robust and durable seal, especially in high-pressure and high-temperature environments. They fill gaps more effectively than tape, providing a stronger bond that is less likely to fail over time. Liquid sealants are versatile and can be used on a variety of materials, including metal and plastic. They often require curing time, which can be a drawback for quick repairs, and can be messy to apply. Once cured, they can be difficult to remove, making disassembly challenging.
In summary, Teflon tape is better for quick, clean, and temporary solutions, especially in low-pressure and low-temperature applications. Liquid sealants are preferable for permanent, high-pressure, and high-temperature applications where a strong, durable seal is necessary. The choice ultimately depends on the specific needs of the project, including the type of fluid being transported, the pressure and temperature conditions, and whether future disassembly is anticipated.