The global industrial gas phase filtration system market research report by Technavio predicts the market to post a CAGR of more than 5% during the period 2019-2023.
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Technavio has released a new market research report on the global industrial gas phase filtration system market for the period 2019-2023. (Graphic: Business Wire)
A key driver for the global industrial gas phase filtration system market is the growing investment in the chemical and petrochemical industries. Stringent regulations in the chemical and petrochemical sectors have resulted in the broader adoption of gas phase filtration systems to ensure safety. The demand for petrochemical products is increasing rapidly across the globe. Owing to the growing demand for petrochemical products, developing economies such as India, China, and Brazil, along with the US, will contribute significantly to the gas phase filtration system market.
As per Technavio, the emerging demand for highly efficient filter media will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global industrial gas phase filtration system market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
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Global industrial gas phase filtration system market: Emerging demand for highly efficient filter media
The filter media in a gas phase filtration system needs considerable maintenance. Vendors have been focusing on reducing this by developing improved filter media that provides enhanced filtration. Over the years, vendors and suppliers of filter media have made efforts to introduce new advanced filter media that accelerate the filtration process. Some vendors offer filter media with stainless steel or aluminum mesh. They also provide silica-free filter media, which can be used in high-temperature chemical processes without impacting the process output.
“The honeycomb filters are one of the advanced filter media, which have been gaining prominence among vendors. When compared with conventional filter media, the honeycomb filter media can efficiently remove ultra-low concentration gases, thereby offering highly effective filtration,” says a senior research analyst at Technavio.
Global industrial gas phase filtration system market: Segmentation analysis
This industrial gas phase filtration system market analysis report segments the market by end-user (W&WW, pharmaceutical, chemical, oil and gas, pulp and paper, S&E, F&B, and other industries) and geography (APAC, Europe, MEA, South America, and North America).
The W&WW segment held the largest industrial gas phase filtration system market share in 2018, accounting for over 28% of the market. This end-user segment is expected to dominate the global market throughout the forecast period.
North America led the market in 2018 with more than 30% of the market share, followed by APAC and Europe respectively. North America is expected to dominate the market throughout the period 2019-2023.
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Some of the key topics covered in the report include:
Five Forces Analysis
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