The overall gas phase filtration market is expected to grow from USD 1.73 billion in 2018 to reach USD 2.17 billion by 2023 from, at a CAGR of 4.55%
NEW YORK, July 16, 2018 /PRNewswire/ -- The gas phase filtration market is estimated to grow at a CAGR of 4.55% between 2018 and 2023
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The overall gas phase filtration market is expected to grow from USD 1.73 billion in 2018 to reach USD 2.17 billion by 2023 from, at a CAGR of 4.55%. The awareness of the impact of poor indoor and outdoor air quality on human health and need for clean air and the high emphasis on filtration of corrosive, toxic, and odor-generating gases in industries are the key factors contributing to the growth of the gas phase filtration market. However, unfavorable economic conditions is the key restraint for the growth of the gas phase filtration market. The rapid industrialization in developing countries such as China and India and continued augmentation of regulations pertaining to the reduction in CO2 emissions are the major opportunities for the studied market.
The market for combination filters is expected to grow at the highest CAGR
Among the types of gas phase filters, the market for combination filters is expected to grow at the highest CAGR during the forecast period.Due to the increasing traffic, population, industrialization, and industrial waste, many harmful toxic gaseous contaminants are released into the environment, thereby affecting the air quality and creating health issues.
The demand for combination filters has been increased as these filters can handle multiple gases because of the lower pressures drops, lower maintenance, and replacement costs of the CIF filters.
The gas phase filtration market in APAC expected to grow at the highest CAGR during the forecast period
APAC is expected to be the fastest-growing market for gas phase filters during the forecast period.The gas phase filtration market in APAC is segmented into India, China, Japan, South Korea, and Rest of APAC.
This growth is due to the high economic growth witnessed by several emerging economies in the region such as China and India.Further, several international companies have built their manufacturing plants in APAC owing to the easily available raw materials and low-cost labor.
Additionally, new power generation stations are also being set up in the region to fulfill the growing demand for energy from several industries. All these factors are expected to fuel the growth of the gas phase filtration market in APAC.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key industry experts.
The breakup of the profiles of primary participants has been given below:
• By Company Type: Tier 1 — 45%, Tier 2 — 30%, and Tier 3 — 25%
• By Designation: Managers — 60% and C-Level Executives — 40%
• By Region: North America — 30%, APAC — 35%, Europe — 20%, and RoW — 15%
The key market players profiled in this report are as follows:
• Camfil (Sweden)
• American Air Filter (AAF) Company (US)
• Donaldson Company (US)
• Freudenberg (Germany)
• Clarcor (Parker Hannifin Corporation) (USA)
• Bry-Air (Asia) (India)
• Purafil (US)
• Circul-Aire (Canada)
• Kinberley-Clark (US)
• Promark Associates (USA)
Research Coverage:
The report on the gas phase filtration market covers the market segmented on the basis of the following segments: type, media, application, end user, and geography.The market has been segmented on the basis of type into packed bed filters and combination filters.
Based on media, the gas phase filtration market has been classified into activated carbon, potassium permanganate, and blend.Based on application, the gas phase filtration market has been classified into corrosion and toxic gas control, and odor control.
On the basis of end users, the gas phase filtration market has been classified into pulp & paper industry, chemicals and petrochemicals industry, healthcare industry, metals & mining industry, food & beverages industry, utilities industry, semiconductor manufacturing industries, data centers, and others.
Key Benefits of Buying the Report:
Illustrative segmentation, analysis, and forecast for the market on the basis of type, media, application, end user, and geography have been conducted to give the overall view of the gas phase filtration market.
The value chain analysis provides an in-depth insight into the gas phase filtration market.
Major drivers, restraints, opportunities, and challenges for the gas phase filtration market have been detailed in this report.
The report includes a detailed competitive landscape and revenue of the key players.
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