Pune, India, January, 2018 /Market Research Future (MRFR) Announces the Publication of its Research Report – Global Nonwoven Filter Media Market 2017-2023
Market Research Future (MRFR) recognizes the following companies as the key players in the global Nonwoven Filter Media market: 3M, DowDuPont, Sandler AG, Ahlstrom-Munksjö, Parker Hannifin Corp, Pentair Residential Filtration, Johns Manville, Freudenberg Filtration Technologies, Hollingsworth & Vose, Berry Global Inc among others.
Market Highlights
:As per the MRFR analysis, the global nonwoven filter media market has witnessed a healthy growth, and the market is likely to continue growing over the forecast period. The market growth is attributed towards the continuously increasing growth of the application segment such as transportation, water filtration, HVAC, food & beverages, manufacturing, pharmaceutical, refining, mining, and homecare among others.Transportation is estimated to be a major segment and is anticipated to retain its dominance over the forecast period to reach USD1593.5 million by 2023 end due to growing demand for nonwoven filter media in automotive filtration such as engine air, cabin air, and oil and fuel. Water filtration is the second largest application segment for nonwoven filter media and was accounted for 20.0% market share of the global market in 2016. Overall, the global nonwoven filter media market is projected to reach USD 7206.8 million by 2023 at a CAGR of 7.01% during the forecast period.Segment Analysis:
The global nonwoven filter media market is segmented on the basis of product, filter type, technology, application and region.
Growing transportation activities and automotive production in the world is expected increases the use of non-woven filter media. As a result, the transportation segment is estimated to account for the largest market share and expected to dominate during the forecast period. Based on technology, the spounbound is the most common technology, accounting for the largest market share of 43.0% in 2016 and is expected to dominate during the forecast period. Based on filter type, synthetic filters dominate the global market due to its flexibility to formulate as per specifications and technology. Product wise, surface filter type of nonwoven filter media dominates the market due to its growing applications in HVAC, air filtration, food & beverages and pharmaceuticals.
Based on geography, the global nonwoven filter media market is divided into five regions as North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. Among the aforementioned regions, Asia Pacific market acquired more than one third of the share of the market, both in terms of value and volume.
The global nonwoven filter media market is expected to reach USD 7206.7 million by the end of forecasted period i.e. 2023. Asia Pacific region accounted for the largest market share in the world. The region offers a significant growth potential for the nonwoven filter media market and is slated to register the CAGR of 7.14% during the forecast period owing to the growing contribution of transportation sectors of the emerging economies, rise of the end user industry, high penetration of nonwoven filter media manufacturers in the region and availability of cheap labor cost in the region. Asia Pacific market for nonwoven filter media is divided into China, Japan, India and Australia among other Asian and Oceania countries. China accounted for largest market share in the Asia Pacific region, and expected to dominate during the forecast period in the region some of the substantial factors attributed to the market growth in China are, the increasing consumption of nonwoven filter media across an array of end user industries. On the plus side, the fragmentation of nonwoven filter media with small Chinese players operating in the market, is attributed to the substantial value addition in the nonwoven filter media market in the country. India is trailing behind China in terms of consumption. Overall, the Asia Pacific region witnessed substantial industrial growth in the recent past with prominent nonwoven filter media manufacturers expanding their base in the region with new product launch facilities, R&D facilities, distributorships etc. A similar trend as Asia Pacific’s, is observed across other emerging markets such as Latin America and the Middle East & Africa. Latin America accounted for 7% of the global market share in 2016 and expected to grow at healthy CAGR.
Regionally, the consumption of nonwoven filter media in the North America market ranked as the second largest in the world. Country wise, the U.S. dominated the North American market and is the second largest market across the globe. Europe is the third largest market, European market is mainly driven by Germany and expected to grow at the highest CAGR in the region during the forecast period.
Global Nonwoven Filter Media Market, By Region, 2016 (%):
Source: MRFR Report
Some of the key players operating in the global nonwoven filter media market are 3M, DowDuPont, Sandler AG, Ahlstrom-Munksjö, Parker Hannifin Corp, Pentair Residential Filtration, Johns Manville, Freudenberg Filtration Technologies, Hollingsworth & Vose, Berry Global Inc among others.Market Research Future:
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