PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1182316
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1182316
According to Stratistics MRC, the Global Industrial Air Filtration Market is accounted for $7.68 billion in 2022 and is expected to reach $12.20 billion by 2028 growing at a CAGR of 8.0% during the forecast period. Industrial air filtration systems are used to remove dangerous pollutants from production and manufacturing facilities, including smoke and dust particles. These systems' main goal is to clean the environment by purifying the air surrounding these manufacturing plants. Nano-particles and a coating of smoke make up the air's particulates. The inhalation of unhealthy particles might lead to serious health problems. Products for filtration aid in protecting those who operate in such environments from breathing such hazardous air.
According to International Monetary Fund (IMF), the global growth is expected to be moderate from 5.9% in 2021 to 4.4% in 2022. The US-China trade conflict is one of the reasons for this slowdown.
Market Dynamics:
Driver:
Government mandates and policies for environmental protection
Globally, environmental protection laws and regulations are becoming more important to lessen the effects of industrial emissions. These regulations emphasise encouraging the use of non-toxic materials, changing production procedures, and putting conservation measures in place. Additionally, they encourage recycling materials rather of adding them to the garbage stream, which reduces pollution. In order to safeguard public health and control emissions of dangerous air pollutants, the Clean Air Act focuses on controlling air emissions from both fixed and mobile sources. Large-scale industrial installations must also seek operational permissions in order to protect the environment, according to the law. The need for industrial filtration is probably influenced by such rules.
Restraint:
Unfavourable economic conditions
The expansion of the world's economies and industrial sectors will determine how quickly the industrial filtration market expands. Therefore, any unfavourable changes in the state of the economy could hurt the market for industrial filtration. Because of rising trade and geopolitical friction, which raises uncertainty in the global trading system, recent years have seen varying rates of global economic growth, making it more unstable. Added plant capacity and expansion projects in sectors including power generation, oil & gas, chemicals, pulp & paper, and pharmaceuticals occasionally succeed and go into operation as a result of these unstable economic conditions, having an impact on the industrial filtration industry.
Opportunity:
Growing digital filtration methods
A significant development prospect is the digitalization of filtration devices, which enables the monitoring of industrial filters in real-time. The filters have sensors built in that keep track of the air cleaners' load status and send service-related data to the plant operator. By preventing unplanned equipment downtimes, this technique aids in the best possible planning of maintenance. Filters linked to sensor technologies can be changed at precisely the right moment. Additionally, it helps to reduce the chance of utilising filters past their usefulness, ensuring the machines' longest possible service lives.
Threat:
Limited functionalities
Industrial filtration is one of the most crucial components of an effective industrial process, but it also presents difficulties due to its constrained functions. For instance, despite industrial filters' best efforts, viruses, VOCs (volatile organic compounds), mould, and bacteria smaller than 0.4 microns can still enter homes and businesses and have an adverse impact on the quality of the air inside. Additionally, the foundation filters according to European Filter Classifications offer protection from fibres and insects. However, they are inefficient against smoke and blacking particles and only have a modest effect on bigger pollen (70%).Some of these technological shortcomings could be a problem for industrial filtering because they might make it difficult to use industrial filters in settings where extremely fine microns are persistent and have a propensity to penetrate.
COVID-19 Impact
COVID-19 has had a significant impact on the global economy in addition to the healthcare industry. It has significantly impacted the economy of a number of financial and industrial sectors, including travel and tourism, manufacturing, and aviation. Due to the interruption in the raw material supply chain and the temporary shutdown of operations at manufacturing sites all over the world, the coronavirus pandemic has had a negative impact on a number of end-use industries, including cement and automobiles. Since air filtration is used to enhance the air quality in end-use industries, the operation of manufacturing facilities is directly tied to the need for industrial air filtration. Thus, it is anticipated that the worldwide industrial air filtration market will suffer in the near future due to disruptions in manufacturing facility operations.
The HEPA filters segment is expected to be the largest during the forecast period
The HEPA filters segment is estimated to have a lucrative growth, due to the existence of air filters with high effectiveness that filter out inorganic dust hanging in the air, including bacteria, mould spores, airborne viruses, dust mites, and pollen, as well as microscopic creatures that may cause serious harm. Instead of the flat fibreglass material used in conventional types of filters, HEPA uses thick, pleated media. By doing this, the filtration surface area and filter life will both be significantly increased. In medical facilities like hospitals and clinics, HEPA filters are the industry standard filtering system.
The chemical segment is expected to have the highest CAGR during the forecast period
The chemical segment is anticipated to witness the fastest CAGR growth during the forecast period. Chemical activities produce pollutants that could react with the substance of the collection apparatus. Additionally, dangerous to the environment and the workforce, these toxins can be. Cross-contamination with other substances is a worry as it may degrade the product's quality. Given that industrial filtration is essential for water treatment, these factors are anticipated to fuel demand for it during the projection period.
Region with highest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to the rapid industrialisation and rising per capita income. Due to its inexpensive labour and infrastructure, China is predicted to become a major global player in the manufacturing of industrial air filtration equipment. Additionally, it is anticipated that additional pharmaceutical firms would establish themselves in the area to meet domestic export and import demands, contributing to regional growth.
Region with highest CAGR:
North America is projected to have the highest CAGR over the forecast period. Industrial users in this area adopt air filtration technology with high-performance features such efficient removal of sub-micron pollutants in an effort to reduce health risks. Additionally, manufacturers concentrate on reducing the pressure drop in air filters, which provides the end-user with significant energy savings and consequently decreases the total cost of ownership.
Key players in the market
Some of the key players profiled in the Industrial Air Filtration Market include Daikin Industries, Ltd., MANN+HUMMEL, SPX Technologies, Honeywell International, Inc., Lydall, Inc., PARKER HANNIFIN CORP., Donaldson Company, Inc., Danaher, Alfa Laval, 3M, Clean TeQ Holdings Limited, Sandler AG, Freudenberg Filtration Technologies, Sefar AG, Nordic Air Filtration and Eaton.
Key Developments:
In November 2021, Alfa Laval strengthened its LNG portfolio with the gas combustion unit 2.0. This new investment will help the company to expand its territory over several gulf countries.
In October 2021, Donaldson Company acquired Solaris (US) to make the company well positioned to provide more comprehensive filtration solutions to food and beverage customers and expand the company's access to biopharma and other key life science markets.
In September 2021, Eaton introduced a new Zero-leak Compact Combo Valve that safely vents harmful evaporative fuel vapors in the tank by stacking a Fill Limit Vent Valve (FLVV) and a new Zero-Leak Grade Vent Valve (GVV).
In October 2020, Donaldson Company, Inc introduced the Donaldson Torit Rugged Pleat (RP) baghouse, an industrial dust collector. The collector is designed to capture heavy and abrasive dust inherent to woodworking, mining, grain processing, and other industries.
In March 2020, Danaher acquired the Biopharma business of GE's Life Science division, now known as Cytiva. Cytiva is a leading provider of instruments, consumables, and software that support the research, discovery, process development, and manufacturing workflow of biopharmaceutical drugs. This acquisition is expected to provide additional sales and is earning growth opportunities for the company's Life Sciences segment.
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