Pleated Filters Market Set to Witness an Uptick during 2019 to 2025



The global pleated filter market size is expected to reach USD 14.22 million by 2025, growing at a CAGR of 4.8%, according to a new report by Grand View Research, Inc. Increasing demand for air filtration across the manufacturing industries is anticipated to propel the pleated filters market growth over the forecast period.
The factors such as growing environmental concerns and stringent regulatory framework have resulted in companies investing heavily in air filtration techniques and processes. In addition, the strict regulations and policies that govern the water treatment for both domestic and industrial waste-water is expected to promote the demand for pleated filters.
Buyers are expected to have low to medium bargaining power on account of use of pleated filters across a number of end-user industries. In addition, superior performance of the pleated filters is expected to attract the buyers towards the use of the product in comparison to the conventionally used filtration systems which is expected to benefit growth. Key participants in the industry are involved in the design, engineering, and marketing of the product for separation and elimination of contaminants from fluids and gases. Research & development forms an important part of activities of these companies and it has been a major factor driving their sales growth.
Prominent players of the market are 3M, Donaldson, SUEZ, Honeywell, Siemens AG, Freudenberg Filtration Technologies SE & Co. KG, and Parker Hannifin Corporation. These players invest in the improvement of the supply chain in order to provide the right quality products at competitive prices.
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The strict government regulations and the environmental norms is projected to result in the rising demand for air-filtration processes in various manufacturing industries. In addition, the industries are willingly investing in air filtration technologies in order to improve the air quality and workplace environment. The aforementioned factors are anticipated to propel the growth over the period.
Further key findings from the report suggest:
·         Air filters accounted for a market share of 50.9% in 2018 , owing to higher durability coupled with the wider surface area for filtration, thereby prompting its use in HVAC systems
·         The industrial application segment is anticipated to witness a significant growth over the forecast period, growing at a CAGR of 5% from 2019 to 2025, owing to the rapid industrialization in the developing economies such as China, India, and Brazil
·         The market for pleated filters in Asia Pacific is projected to grow at a CAGR of 5.8% from 2019 to 2025, due to the growing demand across the well developed electronic and chemical & petrochemicals industries
·         The pleated filter market in China is expected to register a revenue of USD 3,867.7 million by 2025 on account of the increased adoption of the product in the growing food & beverage industry on account of superior product characteristics
·         Key participants are taking efforts to increase market penetration & presence and offer expanded product offerings in the market segments.
Key players are notably investing in research and development activities and continuously launching new products and services in the market to enhance customer lifetime value, thereby leading to market growth. In addition, the companies are also involved in the development of new sustainable products and solutions offering improved efficiency and better value to the customers.
The U.S. market for the product was valued at USD 2,008.8 million in 2018. The factors such as stringent norms set by the Environmental Protection Agency (EPA) and Occupational Safety and Health Administration (OSHA) are likely to promote the use of various filtration processes, thereby, driving the product demand across various industries.
The fluctuating raw material prices and increased operating cost is anticipated to hamper the industry growth over the forecast period. In addition, the HVAC systems require modifications to accommodate the pleated filters in the existing systems, which increases the total cost of the filtration equipment and is expected to pose a threat to the product penetration in the said application.
The installation of the product in the filtration equipment provides a for higher energy efficiency as compared to the traditional filters and saves energy costs by reducing emissions. As a result, increasing efficiency of the filtration processes due to the installation of the product is projected to propel the demand over the forecast period.
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The market forair filters accounted for the largest share and is estimated to grow at a CAGR of 4.6% over the forecast period. The product is expected to be increasingly used in air cleaners, air purifiers, and HVAC systems in residential and commercial and industrial applications which is likely to drive its demand over the next seven years.
The food & beverage filters are estimated to grow at a CAGR of 5.1% over the forecast period. Improvement in the standard of living coupled with the rise in the spending capacity in the developing regions such as Asia-Pacific and Middle & East Africa is anticipated to fuel the demand for food & beverage industries, thereby promoting the product demand.
Grand View Research has segmented the pleated filter market on the basis of product, application, end-use:
Pleated Filter Product Outlook (Revenue, USD Million; 2014 - 2025)
·         Air Filters
o    Medium Efficiency Filters
o    HEPA Filters
o    Others
·         Food & Beverage Filters
·         Oil Filters
·         Others
Pleated Filter Application Outlook (Revenue, USD Million; 2014 - 2025)
·         Industrial
·         Paints & Coating
·         Chemicals & Petrochemicals
·         Electronics
·         Oil & Gas
·         Power Generation
·         Food & Beverage
·         Others
High demand of the oil & gas filters on account of stringent regulations mandating the use and frequent replacement of the filtration equipment is expected to increase the product penetration over the forecast period. The oil & gas filters segment accounted for USD 917.4 million in 2018 and is anticipated to grow at a CAGR of 4.4% over the forecast period.
The advantages offered by the product including high dirt holding capacity that minimizes the cartridge replacement needs is likely to drive the demand across various end-use industries. In addition, the manufacturing and maintenance cost of the product is low, this further propels the market growth.
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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