The increasing automation in filtration processes is significantly enhancing the efficiency and effectiveness of safety and process filters in East Asia. This advancement is driving the adoption of sophisticated filtration systems across various industries, ensuring improved safety and compliance with stringent regulatory standards.
NEWARK, DE / ACCESSWIRE / July 9, 2024 / The East Asia safety and process filter industry value is forecast to increase from USD 7,075.7 million in 2024 to USD 14,722.5 million by 2034. Over the assessment period, demand for safety and process filters in East Asia is projected to grow at a CAGR of 7.6%.
Expansion of end-use industries like shipyards, refineries, petrochemical and chemical plants, fuel storage facilities, and environmental engineering is projected to be one of the key growth factors influencing the safety and process filter industry in East Asia. These include requiring safety and process filters for multiple operations.
The adoption of filtration technology to reduce pollution, conserve resources, and encourage eco-friendly practices is driven by the strict regulatory landscape of safety and process filters in East Asia. Increasing awareness of environmental challenges and sustainability is also set to contribute to high demand.
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Industrial filters are essential for pollution prevention, wastewater treatment, and emissions reduction. This is projected to push demand as government bodies are mandating use to help meet corporate sustainability goals.
Rapid investments in infrastructure projects, manufacturing facilities, and industrial zones are also set to propel the penetration of eco-friendly safety and process filters in East Asia. Installing filtration systems is essential for safe and effective operation, equipment protection, and regulatory compliance of newly constructed petrochemical plants, refineries, shipyards, and chemical complexes.
Key Takeaways from the East Asia Safety and Process Filter Industry Report:
Sales of safety and process filters grew at a CAGR of 3.3% between 2019 and 2023 in East Asia.
Tier 1 companies comprise leaders with a revenue of above USD 500 million, capturing a significant share of 45 to 50% in East Asia.
China's safety and process filter sector is projected to reach USD 8,911.8 million by 2034.
Japan's sector is projected to reach USD 4,128.9 million by 2034.
Based on end-use, the refineries and petrochemical plants segment is set to exhibit a CAGR of 7.9% during the forecast period.
"Rapid expansion of several sectors, including manufacturing, pharmaceuticals, and electronics, in East Asia is projected to create new growth opportunities. This growth is pushing the need for a clean and safe working environment, thereby increasing the demand for protective components like filters," Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.).
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Competitive Landscape:
The East Asia safety and process filter industry is moderately consolidated, with leading players accounting for about 45% to 50% share. Parker Hannifin Corporation, Eaton, Freudenberg Filtration Technologies, 3M Company, Donaldson Company, Inc., Pall Corporation, Pentair plc, Filtration Group Company, and Mann+Hummel Group are the leading manufacturers and suppliers of Safety and Process Filters listed in the report.
Recent Developments-
In March 2024, United States-based Filtration Group acquired Universal Air Filter (UAF). This acquisition strengthens the product portfolio and distribution channel of Filtration Group.
In April 2023, Amazon Filters, a United Kingdom-based filter manufacturer, launched a novel mechanical safety interlock. The product can be utilized on four leading process industry housings offered by the company.
Key Company of the East Asia Safety and Process Filter Industry:
Parker Hannifin Corporation
Eaton
Freudenberg Filtration Technologies
3M Company
Pall Corporation
Donaldson Company, Inc.
Pentair Plc
Mann+Hummel Group
Industrial Filter Manufacturers
Industrial Filtration
Merck KGaA
Filtration Group Company
Atmus Filtration Technologies Inc.
Fil-Trek Corporation
Entegris, Inc.
W. L. Gore and Associates, Inc.
ESMIL Group
Sartorius Group
Key Segments of East Asia Safety and Process Filter Industry Report:
By Filter Type:
Activated carbon filters, coalescing filters, back-flushing filters, membrane filters, and metallic cartridge filters are the leading types of filters in East Asia.
By Product Type:
Two dominant types of products are safety filters and process filters.
By Application:
A few leading applications include dust removal, odor removal, toxic gas removal, corrosive gas removal, and other applications.
By End-use:
Leading end-uses are shipyards, refineries and petrochemical plants, chemical processing industries, environmental engineering companies, fuel storage facilities, and others.
By Region:
Information about key countries across East Asia, including China, Japan, and South Korea, is given.
Report Preview: https://www.futuremarketinsights.com/reports/safety-and-process-filter-industry-analysis-in-east-asia
Authored by
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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