The global liquid and air filter bags market is projected to reach $6,144.9 million by 2023, The market growth is driven by growing industrialization and expanding automotive industry, according to P&S Intelligence.
Insights into market segments
Based on type, the liquid and air filter bags market is bifurcated into liquid and air. Air filter bags is expected to be the faster growing type during the forecast period, advancing at CAGR of 6.2% in terms of volume. The increasing need for dust and other unwanted foreign particle removal from industrial equipment is fueling its market growth. Also, high demand of the bag for air conditioning and ventilation purpose further propels its market growth.
On the basis of bag size, the liquid and air filter bags market is categorized into 7OD*32’’, 7OD*17’’, 4OD*14’’, 4OD*8’’, and others. Among all bag sizes, the volume sales of 4OD*8’’ are expected to exhibit fastest growth in the market, witnessing a CAGR of 5.7% during the forecast period.
Browse report overview with detailed TOC on “Liquid and Air Filter Bags Market by Type (Liquid, Air), by Bag Size (7OD*32’’, 7OD*17’’, 4OD*14’’, 4OD*8’’), by End User (Chemicals & Pharmaceuticals, Mining, Water Treatment, Steel & Power, Cement), by Geography (U.S., Canada, Germany, U.K., Italy, France, China, Japan, India, Brazil, Mexico, Saudi Arabia, South Africa) – Global Market Size, Share, Development, Growth, and Demand Forecast, 2013–2023” at: https://www.psmarketresearch.com/market-analysis/liquid-and-air-filter-bags-market
In terms of end user, the liquid and air filter bags market is segmented into chemicals and pharmaceuticals, mining, water treatment, steel and power, cement, and others; ‘others’ include brewing and food and beverage. Of these, water treatment is expected to be the fastest growing end user category during the forecast period, advancing at a CAGR of 6.4% in terms of volume. High demand of liquid and air filter bags in primary, secondary, and tertiary water treatment processes for removal of medium-sized and fine solid particles from water, is driving its market growth.
APAC stands as the largest market
The liquid and air filter bags market in Asia-Pacific (APAC) has been witnessing the highest sales of these bags. This can mainly be attributed to the increasing industrialization and urbanization in the region, which are the major factors contributing to the increased demand of filter bags. The typical application area of these bags includes commercial buildings, pharmaceutical, mining, industrial, and others.
The booming pharmaceutical industry in the region to address the health issues of the rising population, is also driving the region’s liquid and air filter bags market growth. The various uses of filter bags in the pharmaceutical industry include recovery of expensive active ingredients, catalyst recovery, filtration of gelatins, and active carbon purification and removal.
Increasing demand for liquid and air filter bags from the cement manufacturing and mining industries to serve as lucrative market opportunity
There has been an increasing demand for liquid and air filter bags from the cement manufacturing and mining industries. With the increase in infrastructure activities globally, there has been a rise in the set-up of cement manufacturing and mining industries. These industries use these filter bags as mediums for reducing the dust particles generated during the manufacturing process. Hence, the manufacturers working in these industries are fitting filter bags around the equipment as per the filtration requirements. This serves as the lucrative opportunity for liquid and air filter bags market growth.
Liquid and air filter bags market competitive landscape
Some of the major players operating in the global liquid and air filter bags market are Emirates Industrial Filters Ltd., Cummins Inc., CLARCOR Inc., Donaldson Company Inc., Pall Corporation, Parker Hannifin Corporation, Eaton Corporation, DuPont de Nemours, Filter Concept Pvt. Limited, and FILPRO Corporation.
GLOBAL LIQUID AND AIR FILTER BAGS MARKET SEGMENTATION
By Bag Size