Ceramic Filters Market Anticipated to Exceed $3 Billion by 2026, Says Global Market Insights Inc.
The growth of the ceramic filters market is driven by rising environmental concerns, along with stringent regulations regarding improving water and air quality, says this report.
SELBYVILLE, Del., June 11, 2020 (Newswire.com) - According to Global Market Insights Inc., the ceramic filters market is likely to exceed a valuation of nearly $3 billion by 2026, registering a CAGR of 14% from 2020 to 2026. The report provides a thorough study of the top winning strategies, industry size & estimations, drivers & opportunities, competitive scenario, key investment pockets, and wavering market trends.
As per market analysis and trends, air and water filtration systems eliminate hazardous and harmful substances from air and water to produce clean and less harmful air or water which is free of toxic substances. Ceramic air filters accounted for a market share of approximately $605 million in 2019. These filters play a key role in controlling air pollution and boast a longer life cycle as well as compatible properties. Ceramic filters are also utilized in the removal of dust particles.
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The rising level of awareness regarding the importance of clean and safe drinking water, due to the rise in water-borne diseases, will support the ceramic filters market growth in the coming years. Ceramic filters are readily available and easy to use; they help reduce bacteria and protozoa in water, thereby lessening the instances of diarrhea by about 60% to 70%. Essentially, this growing awareness regarding the prevention of water-borne diseases will promote the demand for water filters by 2026.
Key reasons for ceramic filters market growth:
- Growing product demand in the Asia-Pacific to prevent waterborne illnesses.
- Rising adoption in commercial, industrial, and residential construction projects.
- Ongoing R&D activities and technological advancements.
2026 forecasts anticipate the ‘residential’ application segment showing appreciative growth:
In terms of application, the residential application segment is likely to grow more than 13.5% over the analysis period. Expanding infrastructural projects and population growth, coupled with increasing water contamination issues owing to deteriorating freshwater reserves, has encouraged the installation of ceramic filters, which are safe, as well as easy-to-use, water filtration solutions. Furthermore, increasing focus towards maintaining indoor air quality because of the rising awareness regarding the prevention of airborne diseases, caused by bacterial or spore formation in the ventilation systems, will also boost the ceramic filters market demand.
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North America & Asia-Pacific's ceramic filters industry to witness appreciative growth:
North America's ceramic filters market was valued at over $280 million and is likely to grow over 12.5% through the analysis timeline. Increasing focus on indoor air quality management in workplaces for the prevention of respiratory diseases among workers, as supported by stringent OSHA standards, is expected to have a positive impact on the regional product demand.
Asia-Pacific's ceramic filters market is forecast to grow more than 14.0% over the forecast timeframe. Growing demand for ceramic filters in APAC for maintaining the quality of water and air will encourage regional market growth.
Leading market players:
The key market players analyzed in the ceramic filters industry report include VEOLIA Group, Glosfume Ltd, KLT filtration Ltd, Corning Incorporated, Haldor Topsoe A/S, Pall Corporation, Clear Edge Filtration, Unifrax I LLC, Anguil Environmental Systems Inc, and Doulton among others. They have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to heighten their stand in the industry.
About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting, and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision-making.
GMIPulse, our business analytics platform, offers an online, interactive option of exploring our proprietary industry research data in an easy-to-use and dynamic manner. Clients get to explore market intelligence across 11 top-level categories and hundreds of industry segments within them, covering regional, company-level, and cross-sectional statistics that make our offering a stand-out for decision-makers.
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Source: Global Market Insights Inc.