NEW YORK, Sept. 22, 2016 /PRNewswire/ -- The global nonwoven filter market is expected to reach USD 8.32 billion by 2024, according to a new report by Grand View Research, Inc. Increasing demand for filtration in industries such as healthcare, transportation, food & beverages, and various others is expected to benefit the global nonwoven filter media market.
Global agencies such as UN have issued directives and prescriptions to keep air & water pollution in check. HVAC, manufacturing, food processing, and hydrocarbon processing applications have found nonwoven filter media effective.
Various regulations regarding water & air pollution are expected to have a favorable impact on the global industry growth. Moreover, there have been lots of technological advancements across the globe to develop new and innovative filter media over the past few years.
Healthcare segment is presumed to be the fastest growing application over the next eight years. Nonwoven filter media is used as disposable medical products and helps protection against infections especially from hospitals. These media are also used in face masks to lessen the hazardous impact of pollution across the globe.
Gaining popularity of membrane filtration may have a negative impact on the overall market growth. However, nonwoven filter media has a certain advantage over other media fibers such as light weight, easy to handle, can be tailor made, highly efficient and high temperature resistance. These characteristics give the product an advantage over other filter media.
Further key findings from the report suggest:
Spunbond is the most preferred filter technology, and the segment accounted for over 35% of the total technology market in 2015.
Spunbond technology is used across automotive, healthcare & personal care, and packaging industry.
Meltblown nonwoven technology is expected to grow at a significant rate over the next eight years. Cost effectiveness is the attributed primary reason for this technology's widespread usage.
Asia Pacific emerged as the leading regional market and held over 30% of the global demand in 2015. The surge in demand for nonwoven filter media in major end-use industries such as transportation, filtration, and healthcare to create ample opportunities in the region.
Industrialization across regions such as South East Asia, India, and China is further anticipated to fuel the market development.
Focus of major industry participants on innovation and research & development has intensified the industry competition.
The market shows different dynamics regarding market strategies, M&As, and product diversification. The market is oligopolistic in nature and is dominated by few key players such as Ahlstrom, TransWeb, LLC, Delstar Technologies, Inc. and DuPont Inc.
Major companies have established manufacturing units in different countries for efficient raw material sourcing and catering to global demand
Efforts taken by companies to achieve product differentiation is contributing to increased industry rivalry
Other companies involved in the industry include 3M, Dupont Inc, Cummins Filtration, Honeywell Process Solutions, Pegas Nonwovens S.r.o., Kimberly-Clark Corporation.
Read the full report: http://www.reportlinker.com/p04144340-summary/view-report.html
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