NEW YORK, May 31, 2018 (GLOBE NEWSWIRE) -- According to the market research report published by P&S Market Research, the global liquid and air filter bags market is projected to reach $6,144.9 million by 2023, The market growth is driven by growing industrialization and expanding automotive industry, according to P&S Market Research.
Based on type, the liquid and air filter bags market is bifurcated into liquid and air. Air filter bags is expected to be the faster growing type during the forecast period, advancing at CAGR of 6.2% in terms of volume. The increasing need for dust and other unwanted foreign particle removal from industrial equipment is fueling its market growth. Also, high demand of the bag for air conditioning and ventilation purpose further propels its market growth.
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In terms of end user, the liquid and air filter bags market is segmented into chemicals and pharmaceuticals, mining, water treatment, steel and power, cement, and others; ‘others’ include brewing and food and beverage. Of these, water treatment is expected to be the fastest growing end user category during the forecast period, advancing at a CAGR of 6.4% in terms of volume. High demand of liquid and air filter bags in primary, secondary, and tertiary water treatment processes for removal of medium-sized and fine solid particles from water, is driving its market growth.
The liquid and air filter bags market in Asia-Pacific (APAC) has been witnessing the highest sales of these bags. This can mainly be attributed to the increasing industrialization and urbanization in the region, which are the major factors contributing to the increased demand of filter bags. The typical application area of these bags includes commercial buildings, pharmaceutical, mining, industrial, and others.
The booming pharmaceutical industry in the region to address the health issues of the rising population, is also driving the region’s liquid and air filter bags market growth. The various uses of filter bags in the pharmaceutical industry include recovery of expensive active ingredients, catalyst recovery, filtration of gelatins, and active carbon purification and removal.
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There has been an increasing demand for liquid and air filter bags from the cement manufacturing and mining industries. With the increase in infrastructure activities globally, there has been a rise in the set-up of cement manufacturing and mining industries. These industries use these filter bags as mediums for reducing the dust particles generated during the manufacturing process. Hence, the manufacturers working in these industries are fitting filter bags around the equipment as per the filtration requirements. This serves as the lucrative opportunity for liquid and air filter bags market growth.
Some of the major players operating in the global liquid and air filter bags market are Emirates Industrial Filters Ltd., Cummins Inc., CLARCOR Inc., Donaldson Company Inc., Pall Corporation, Parker Hannifin Corporation, Eaton Corporation, DuPont de Nemours, Filter Concept Pvt. Limited, and FILPRO Corporation.
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