According to the latest market study released by Technavio, the nonwoven filter media market is projected to grow at a CAGR of close to 7% over the forecast period.
This research report titled ‘Nonwoven Filter Media Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
APAC dominated the nonwoven filter media market in 2016. The rising concerns about emissions from the automotive sector are driving the use of filtration processes in the transportation industry. Countries such as China, Japan, South Korea, and India are leading the revenue generation from the region.
Based on the end-users, the report categorizes the nonwoven filter media market into the following segments: Transportation, Water, HVAC, Food and Beverage and Healthcare.
The top three revenue-generating end-user segments in the nonwoven filter media market are Transportation, Water and HVAC.
“The transportation industry includes automobiles, aerospace, and railway. Nonwoven filter media find applications in filtration of engine air, oil, fuel, and cabin air. The nonwoven filter media market by the transportation industry was valued the highest in 2016, owing to their widespread applications,” says Anju Ajaykumar, a lead analyst at Technavio for engineering tools research.
Sustained economic growth, growing industrialization, infrastructure development, and an increase in disposable income is likely to boost the demand for motor vehicles. The low auto loan interest rates in the developed and developing countries are also influencing automotive sales positively. This, in turn, is expected to create demand for nonwoven filter media.
The use of nonwoven filter media in the filtration of water is increasing rapidly. The market segment is expected to grow swiftly over the forecast period and establish its dominance on the market by the end of the forecast period. Nonwoven filter media is commonly used in filters used for the purification and distillation of water. This application is also expected to create demand for filtration membrane.
Water scarcity and changing demographics are they key concerns for the water sector. Further, the increase in population coupled with the lifestyle changes due to urbanization is increasing the demand for water. The constant demand for freshwater and environmental concerns will have a positive effect on the water and wastewater industry in the future, leading to an increase in opportunities for the nonwoven filter media market.
Nonwoven filter media is used for air filtration in all types of HVAC equipment. HVAC equipment can be for heating, air conditioning, or ventilation purposes. The nonwoven filter media market for HVAC equipment is expected to increase to nearly $1 billion by 2021. The HVAC market is expected to grow at a rapid rate in the forecast period due to the growing construction industry and increase in income levels in China, India, and other developing countries.
“APAC dominated the market segment and is likely to retain its high growth during the forecast period, owing to the high growth potential of China. The U.S. is another important country in the market, where the growing consumer awareness, high replacement demand, maintenance and support services, and steady economic growth are driving the growth,” says Ajaykumar.