March 28, 2020
Industrial Filter

Industrial Filters Market to grow with a CAGR of 6.09% during the forecast period from 2019 to 2027

The global market for industrial filters is projected to grow by 6.09 per cent CAGR over the forecast period from 2019 to 2027.

Industrial filters are among the most important components used in the pharmaceutical and chemical industries to ensure the optimum quality of the products. Rapid industrialization in Asia-Pacific and other regions of the world, together with strict environmental standards for the treatment of industrial waste, is driving market growth. The market for industrial filters is expected to reach US$ 5.03 billion by 2027, increasing to CAGR by 6.09 per cent over the forecast period 2019 to 2027.

Access Sample: https://www.credenceresearch.com/sample-request/59977

In addition, with an increasing population, rapid urbanization of major cities is taking place all over the world. In addition, there is a changing lifestyle of people where fast food, ready-to-eat food, processed food and convenience food are in high demand. These factors have contributed to the growth of the food and beverage industry worldwide. This growth also affected the demand for industrial filters. The food and beverage industry accounted for the largest market share of industrial filters in 2018.

As far as geography is concerned, Asia-Pacific has the largest market share for industrial filters in 2018. It has a market share of more than 40% and is expected to remain dominant during the forecast period. The region is home to about 4.3 billion people, which make up about 60 percent of the world’s population and is rising at a robust rate. Growing population has increased the food and beverage industries in the region. This has influenced the market for industrial filters in Asia Pacific. In addition, almost 60% of the world’s young population lives in Asia Pacific. This young population is driving the automotive industry in the region, which in turn has an impact on the industrial filter market in Asia Pacific.

Access Sample: https://www.credenceresearch.com/sample-request/59977

Some of the major players on the industrial filter market include Pall Corporation, Alfa Laval AB, 3 M, Eaton Corporation Plc, Mann+Hummel Group, Cummins Filtration Inc., Ahlstrom-Munksjo Oyj, ClearEdge Filtration Group Corporation, Nordic Air Filtration, Fibertex Nonwovens A / S, Sefar AG, Freudenberg Filtration Technologies, and Sandler AG, among others. These players are adopting various strategies, such as acquisition and modernisation of infrastructure, to increase their market share.

For example, in December 2018, Freudenberg Filtration Technologies acquired a majority stake in Apollo Air-Cleaner Co., Ltd., the leading provider of air and water filtration solutions in China. With this acquisition, Freudenberg Filtration Technologies has strengthened its market position in China’s rapidly growing filtration market. In addition, in July 2018, Ahlstrom-Munksjo invested some EUR 28 million (US$ 31.09 million) to modernize its beverages and casing business lines. This new facility will help to strengthen product capacity in biodegradable and compostable solutions for the growing market for tea, coffee and casing.

Key questions answered in this report

  • What was the market size of industrial filters market in 2018 and forecast up to 2027?
  • What are the key factors driving the global industrial filters market?
  • What are the key market trends and high-growth opportunities observed in the industrial filters market?
  • Which is the largest regional market for industrial filters market?
  • Which segment will grow at a faster pace? Why?
  • Which region will drive the market growth? Why?
  • Which players are leading the industrial filters market?
  • What are the sustainability strategies adopted by the key players operating in the market?

Access Sample: https://www.credenceresearch.com/sample-request/59977

Leave a Reply

Your email address will not be published. Required fields are marked *