The global filters market is growing due to increasing population and urbanization, which is consequently increasing the propensity of industrialization, as well as boosting the demand for automotive filters. The emission regulations for industrial, as well as automotive sectors are further surging the demand of filters. HEPA filters are providing considerable growth opportunity to the market, owing to high-energy efficiency provided by them. The increasing penetration of filters in the emerging countries is one of the most important drivers of the market. The technological advancements in terms of product development and innovation are expected to provide ample growth opportunity for the global market. The global filters market is observing a moderate level of consolidation, owing to the increasing acquisitions in the industry.
GLOBAL FILTERS MARKET SIZE BY SEGMENT $M (2011–2020)
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 and 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.
The increasing population and urbanization in the developing countries is propelling the demand for consumer products. This is consequently up surging the industrialization level in those countries and increasing the demand for filtration products. China, Indonesia, Malaysia, Philippines, and Vietnam are observing swift growth rates in industrial production. The industrial production in China grew by 9.7% in 2013 over 2012, while in Indonesia and Philippines it grew by 6% and 13.7% respectively during the same years under consideration.
The industrial production processes emit considerable amount of pollution in industrialized countries. The emission of harmful air pollutants, industrial wastewater discharge, and generation of other solid wastes are attracting the attention of regulatory authorities across the globe. This has led to several directives that require control of industrial pollution, which is consequently driving the growth of the global industrial filters market. The Industrial Emission Directive (IED) in Europe through Best Available Techniques (BAT) targets to limit industrial pollution in the region. 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.
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 and 50 Megawatts.
The growing numbers of automotive, due to increasing disposable income of people and up surging commercial activities are also leading to increased vehicular pollution levels. The developed countries already have stringent norms related to automotive emission, while the developing countries are also following their developed counterparts to include them in their vehicular emission control programs.