PUBLISHER: The Business Research Company | PRODUCT CODE: 1543831
PUBLISHER: The Business Research Company | PRODUCT CODE: 1543831
Gas phase filtration is a specialized air filtration method used to remove gaseous pollutants from the air, ensuring air quality in various industrial and commercial settings. This market involves systems and products designed to capture and neutralize harmful gases and odors. The technology is commonly employed in environments where air quality control is critical to operations, such as manufacturing facilities, healthcare settings and utility plants.
The gas phase filtration market consists of sales, by entities (organizations, sole traders and partnerships), of gas phase filtration systems that work by passing air through a medium that adsorbs or chemically reacts with the pollutants.
The global gas phase filtration market was valued at $1,556.01 million in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 5.00%.
Growth In The Chemical And Petrochemical Industries
Growth in the chemical and petrochemical industries fueled the growth of the gas phase filtration market during the historic period. Increased production and processing activities heightened emissions of pollutants, necessitating advanced filtration solutions to meet regulatory standards and ensure environmental compliance. This growth was further supported by rising awareness of air quality issues and the need for cleaner production processes across industrial sectors. For instance, in July 2022, according to the Global Top 50 survey conducted by Chemical & Engineering News (C&EN), a US-based weekly news magazine, the world's largest chemical companies collectively achieved $1.1 trillion in sales for fiscal year 2021, marking a 38% rise from 2020. Profits were equally robust, with operating income for the 41 companies reporting such figures surging by 148% to reach $127 billion in 2021. Additionally, according to NexantECA, a UK-based energy and chemicals advisory company, the growth in petrochemical capacity was estimated to outpace demand by about 18 million tons per year in 2022 and approximately 12 million tons per year in 2023. Therefore, growth in the chemical and petrochemical industries drove the growth of the gas phase filtration market.
Innovation And New Product Launches With Focus On Cost Reduction
Major companies in the gas-phase filtration market are strategically focusing on continuous product innovation and launches to maintain and strengthen their market positions in this highly competitive market. The focus on continuous product innovation and launches is essential for companies in the gas phase filtration market to stay competitive, meet consumer demand for health-enhancing products and capitalize on evolving health trends. For example, in October 2023, Camfil Group, a Sweden-based air filter and clean air products manufacturing company, launched its new CamCarb XG HVAC air filter for molecular contamination control innovation. The CamCarb XG offered exceptional efficiency in removing contaminants, minimal airflow resistance and an extended lifespan, ensuring a low total cost of ownership (TCO). Its ergonomic design also reduced filter installation and replacement time by up to 50% compared to traditional products, making it highly appealing for service and facility management firms. Additionally, in October 2022, Alkegen, a US-based high-performance specialty materials manufacturing company, launched the TriboStatiX air filtration media, the first new filtration product. Alkegen's new TriboStatiX air filtration media, a MERV 13 high-performance pleat media, offered lower initial resistance. This reduction decreased the energy consumption of heating, ventilation and air conditioning (HVAC) units, subsequently lowering overall operating costs.
The global gas phase filtration market is fragmented, with a large number of companies operating in the market. The top ten competitors in the market made up to 9.72% of the total market in 2023.
Gas Phase Filtration Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global gas phase filtration market as it emerges from the COVID-19 shut down.
Where is the largest and fastest-growing market for gas phase filtration? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The gas phase filtration market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider gas phase filtration market; and compares it with other markets.