San Francisco, 28 December 2018; According to a report by Grand View Research, Inc.; the global ceramic filters market is anticipated to reach USD 2139.4 million by 2022. Growing concerns regarding air and water pollution is anticipated to propel market growth over the forecast period (2012 to 2022). Superior performance and quality over polymer filters make these products suitable for versatile end-use applications. In addition, these filters offer longer operational life, lower operating costs, and are chemically inert. All these factors are anticipated drive the demand in near future.
Stringent regulations pertaining to air emissions and water treatment and disposal are expected to impel growth of the market for ceramic filters. Regulatory framework set by government agencies like the Energy and Environment Affairs (EEA), Environment Protection Agency (EPA), American Society for Testing and Materials (ASTM), National Science Foundation (NSF), and European Environment Agency (EEA) are likely to play essential role in market expansion. Such regulations encourage manufacturing companies to use eco-friendly processes to control air and water pollution. Rising focus on controlling emission of Volatile Organic Compounds (VOC) and other harmful gases can stimulate market expansion. Growing awareness regarding consumption of clean and safe drinking water can further augment market growth in the forthcoming years.
However, high initial investments required to manufacture ceramic filters can hamper market expansion over the forecast period. In addition, fluctuating prices of these filters can also restrict production adoption. Nevertheless, rising R&D activities to develop advanced products and novel applications can offer lucrative opportunities for market entrants. In addition, fulfilment of consumer demands such as reduced Capital Expenditure (CAPEX), expanding distributorship, and initiation of large scale industrial operations can also provide profitable opportunities for market players in the forthcoming years.
The worldwide ceramic market can be segregated on the basis of product, application, and region. Based on product, the market can be bifurcated into ceramic air filter and ceramic water filter. In 2014, ceramic water filters segment led with 55% of overall market share. The segment is likely to maintain its dominance over the forecast period. Advent of environmental regulations to control water pollution can positively influence growth of segment. In addition, rising adoption of water treatment procedures in manufacturing facilities can foster product demand during the forecast period. Ceramic air filters segment is anticipated to witness the highest growth of 13.5% through to 2022.
Browse Research Report on Ceramic Filters Market:
Based on application, the market can be trifurcated into commercial, residential, and industrial. In 2014, residential accounted for the largest market share of 41.6% in terms of revenue. Increasing use of ceramic filters in Africa and Asia Pacific regions to have clean drinking water can spur growth of segment. On the other hand, industrial segment is anticipated to witness the highest growth of 13.4% from 2015 to 2022. Rapid industrialization in developing countries like India, China, Indonesia, and Brazil can drive this growth over the forecast period.
Regional segmentation includes Europe, North America, Asia Pacific, Central and South America, and Middle East and Africa. Asia Pacific region is projected to continue its dominance in terms of market share over the forecast period. In 2014, the region accounted for 41.6% of global market share in terms of revenue. Growth of industrialization in developing countries like India, China, Brazil, and Indonesia is anticipated to propel regional growth over the forecast period.
Europe and North America regions are expected to witness decline in growth attributed to brisk growth of other developing regions such as Middle East and Africa and Central and South America. Such emerging markets are expected to create lucrative opportunities for market players. In addition, rapid pace of industrialization in emerging economies can fuel demand for ceramic filters in different end-use sectors. Hence, the market is expected to witness fast growth in emerging economies as compared to markets of Europe and North America.
Some of the leading companies operating in the ceramic filters market are 3M Company, Haldor Topsoe A/S Unifrax I LLC, Glosfume Ltd., and Doulton Ceramics. The market is characterized by a huge number of buyers and producers. The companies are undertaking initiatives to expand their product portfolio and to enhance production capacity to address demand from developing countries.
View press release of this research report by Grand View Research:
www.grandviewresearch.com/press-release/global-ceramic-filters-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials, and healthcare.
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