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The global market for filters is majorly driven by the rapid urbanization and growing population, which in turn has increased the prospects for industrialization, thereby fueling the demand for filters in the automotive industry. The increasing environmental concerns have led to formation of stringent regulations on emissions for industrial and automotive sectors. HEPA filters provides significant growth opportunities in the market, due to energy efficiency provided by the industrial and automotive filters. The rapid penetration of the filters in developing countries is one of the major key drivers of the market. Moreover, the advanced technologies including innovation in product development are expected to serve as an opportunity in the filters market. A moderate level of consolidation is expected to be witnessed with the increasing acquisitions in the industry.
GLOBAL FILTERS MARKET SIZE BY SEGMENT $M (2011–2020)
The industrial production processes involve emission of hazardous pollutants, industrial wastewater discharge, and other solid wastes. This has attracted the attention of regulatory authorities globally, thereby taking stringent actions in order to control the industrial waste. This has significantly increased the demand industrial filters in the past few years. The Industrial Emission Directive (IED) in Europe through Best Available Techniques (BAT) targets to limit industrial pollution in Europe. The industries in the region are required to operate with a permit, based on industrial installations. The environmental inspection for industries is also mandatory in the region.
The increasing demand for automotive vehicles, due to a rise in disposable income of people and up surging commercial activities have led to an increase in the pollution levels caused by such vehicles. Developed nations have stringent norms related to emission from vehicles, while the developing countries are also following their developed counterparts to include them in their vehicular emission control programs.
The rapid urbanization and growing population in the emerging countries are rapidly increasing the need of consumer products. This is consequently surging the industrial development level in those countries and increasing the demand for filtration products. China, Malaysia, Indonesia, Vietnam, and Philippines are observing swift growth rates in industrial production.
Medium Combustion Plant Directive (MCPD), a recent directive in Europe is also expected to be made effective in the near future, for any plant or equipment where fuel is oxidized for heat generation in the range of 1 Megawatt to 50 Megawatts.
With the increasing competition in the market, the filtration companies are modifying their product portfolio to include offerings that are more advanced. For instance, Pall Corporation launched a 5 nm asymmetric nylon filter for semiconductor lithography processes. It is targeted to reduce filter start-up, toll downtime, and minimize chemical waste. Cummins launched a lube filters with its polymeric nanotechnology-based synthetic media, Nanotech. The lube will be used in Cummins’ filter engines and will remove 98.7% of particles of dimension 12 microns. The introduction of these technologically advanced products is expected to positively impact the growth of the global filters market.
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