Sep 10, 2019   SOURCE: BusinessWire

Global Fabric Filters Market by Type, End-use Industry, and Region - Forecast to 2024 - ResearchAndMarkets.com

The "Fabric Filters Market by Type (Liquid and Air Filter Media), End-use Industry (Food & Beverage, Metal & Mining, Chemical, Pharmaceutical, Power Generation), Region (APAC, Europe, North America, MEA, and South America) - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

The fabric filters market size is expected to grow from USD 2.3 billion in 2019 to USD 3.2 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 6.4% during the forecast period.

The fabric filters market is driven by various factors such as stringent regulations related to the treatment of industrial waste, requirement of a safe working environment in industrial facilities, and a growing manufacturing sector in Southeast Asia. However, the increasing use of renewable energy sources is expected to restrain the growth of the market.

The key players in this market are Ahlstrom-Munksjo (Finland), Lydall Inc. (US), Valmet Corporation (Finland), Freudenberg Filtration Technologies (Germany), Clear Edge Filtration Group (US), Fibertex Nonwovens (Denmark), Hollingsworth & Vose (US), Johns Manville (US), Kimberly-Clark Corporation (US), and Sefar AG (Switzerland).

These players have adopted the strategies of new product launch, expansion, investment, and acquisition to strengthen their market position. They adopted investment & expansion as their key growth strategy between 2015 and 2019 to increase their revenue and market share.

The air filter media segment is expected to grow at a higher rate during the forecast period

Air filter media is the faster-growing segment of the fabric filters market, by type. Air filter media is further segmented into three types, namely, nonwoven fabrics, fiber glass, and filter paper. The nonwoven fabrics segment is projected to register the highest CAGR owing to their good absorbency, resilience, and elasticity.

The food & beverage end-use industry is expected to account for the largest market share during the forecast period

The food & beverage industry requires large volumes of water for beverage production, processing, boiling & cooling, and conditioning of raw materials. Fabric filters are used during the water filtration processes. Air filtration is also an important procedure in the food & beverage industry, and fabric filters are used for air filtration to control odors & humidity and to minimize air-borne contamination of food. Rapidly growing population is expected to boost the food & beverage industry, which in turn, is likely to drive the fabric filters market in this segment.

APAC is expected to register the highest growth during the forecast period

APAC is expected to register the highest growth during the forecast period, due to the increasing population and urbanization. The increasing developments in the food & beverage, metal & mining, chemical, power generation, and pharmaceutical industries in China, India, Japan, and Australia are providing huge opportunities for the fabric filters market. South America is projected to be the second-fastest growing market during the forecast period.

Market Dynamics

Drivers

  • Stringent Regulations Related to Emissions and Treatment of Industrial Effluents
  • Need for a Safe Working Environment in Manufacturing Sites
  • Growing Manufacturing Sector in Southeast Asia

Restraints

  • Emerging Alternative and Renewable Energy Sources

Opportunities

  • Increase in Wastewater Treatment Due to Depleting Freshwater Resources

Companies Profiled

  • 3M
  • Ahlstrom-Munksjo
  • American Fabric Filter
  • APC Filtration
  • Autotech Nonwovens
  • Berry Global, Inc
  • Clear Edge
  • Donaldson Filtration Solutions
  • Eagle Nonwovens Inc
  • Fibertex Nonwovens
  • Freudenberg Filtration Technologies
  • Hollingsworth & Vose
  • Irema Ireland
  • Johns Manville
  • Kimberly-Clark Corporation
  • Lydall, Inc
  • Mann+Hummel
  • Norafin Industries
  • Nordic Air Filtration
  • Sandler AG
  • Schweitzer-Mauduit International, Inc
  • Sefar AG
  • Twe Group
  • Valmet

For more information about this report visit https://www.researchandmarkets.com/r/phqzsn