Global Fabric Filters Market: Snapshot
At the forefront of driving demand in the global fabric filters market are the strict rules pertaining to pure indoor air. Another factor benefitting the market is the focus of manufacturers on product development in response to the need for more effective fabric filters. Acting as a deterrent to the market, on the other hand, is the steep cost of manufacturing fabric filters. However, constant technological advancements and rapid industrialization will likely create more opportunities in the market for growth and help overcome the various challenges hindering its growth.
A report by Transparency Market Research, forecasts the global fabric filters market to expand at a CAGR of 6.18% during the period between 2017 and 2025. Rising at this pace, the market which was worth US$9.6 bn in 2016, is expected to become US$16.34 bn by 2025.
Pulse Jet Dominates Market on Account of its Reduced Cost
Depending upon type, the global fabric filters market has been categorized into pulse jet, reverse jet, etc. Of them, the segment of pulse jet accounts for maximum share in the market. In 2016, the segment held a substantial 55% share in the market. This is because of the rising uptake of it owing to its ability to lessen in bag house size and capital cost due to less fabric usage. Pulse jet cleaning type does not require the building of an extra compartment for off-line cleaning. The segment is expected to grow its share in the near future.
Based on application again, the global fabric filters market has divided into power generation, chemical industry, pharmaceuticals, food and beverages, steel mills, etc. Of them, the pharmaceutical segment dominates the market with maximum share. Manufacture of pharmaceuticals products such as vitamins, drugs, minerals, and herbs involves different types of processes which often result in dust as a harmful by-product. This poses health hazards to workers, ups risk of chemical hazards in the manufacturing units, and harm the material. To mitigate the dangers, fabric filter comes in handy.
Expansion of End-use Industries Catapults Asia Pacific to Forefront
From a geographical perspective, Asia Pacific runs the show both in terms of market share and growth rate. By clocking a maximum CAGR of 6.89%, the market in the region is expected to pull in revenues to the tune of US$6.43 bn by 2025. The growth in the region is mainly brought about the rapid expansion of various end-use industries such as chemical, power generation, etc. Emerging economies in Asia Pacific, particularly China is at the forefront of driving growth in the global fabric filters market because of the rapid pace of industrialization in the region. In 2016, Asia Pacific held over 37% share of the global fabric filters market.
In terms of market share, North America and Europe trail Asia Pacific. By registering a CAGR of 5.67% during the forecast period, North America market is slated to become worth US$3.70 bn by 2025. The market in Europe is projected to net in a revenue of US$3.29 bn by 2025 by registering a CAGR of 5.45% over the course of the forecast period. The fabric filters market in Latin America and the Middle East and Africa is currently not very developed and mostly dominated by local players.
Some of the prominent names in the global fabric filters market are Parker-Hannifen, Corporation, Hamon Corporation, Cummins, Affinia group, Siemens AG, Pall Corporation, and Nederman Corpo.