Global Air Filter Media Market Forecast 2024-2033: Estimated Market Size And Growth Rate
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How Much Growth is Expected for the Air Filter Media Market from 2024 to 2033?
In recent times, the air filter media market has witnessed robust growth. The market, which is projected to expand from $4.28 billion in 2023 to $4.55 billion in 2024, is expected to experience a compound annual growth rate (CAGR) of 6.5%. This substantial increase during the historical period can be traced back to numerous factors such as concerns about air quality, strict environmental legislations, industrial and urban development, the popularity of HVAC systems, acceleration in vehicle production, and economic expansion.
In the coming years, the market size for air filter media is projected to experience substantial growth, reaching $6.04 billion by 2028 with a compound annual growth rate (CAGR) of 7.3%. This growth during the forecast period can be credited to factors such as worries about airborne diseases, a focus on indoor air quality, the surge in e-commerce, the expansion of electric vehicles, and energy efficiency regulations. Key trends during the forecast period will be technological advances in filtration media, upgrades and retrofits of HVAC systems, sustainable and green solutions, intelligent air filtration technologies, and customization for specific applications.
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What Factors Are Encouraging Growth in the air filter media Market?
The anticipatory rise of the air filter media market can be attributed to the degradation of air quality worldwide. The harmful health implications of such air pollution include cardiovascular and respiratory diseases, as well as cancers. The national ambient air quality standards by the US Environmental Protection Agency suggest that exposure to very fine particulate matter, labeled as PM2.5, is safe as long as the average is less than or equal to 12 micrograms per cubic meter of air daily. For example, the 2021 World Air Quality Report showed that among 117 countries, regions, and territories, 16 and 20 exceeded 10 times and 7 to 10 times, respectively, the standard metrics of micrograms per cubic meter. This global quality decline in air has, therefore, spurred the demand for air filters or purifiers, resulting in subsequent growth of the air filter media market over the forecast span.
Which Segments Play a Vital Role in the Air Filter Media Market?
1) By Type: Nonwoven Fabrics, Fiberglass, Filter Paper
2) By Grade: HEPA, MERV, ULPA
3) By Application: HVAC, Air Purifier, Face Mask, APC, Industrial Manufacturing, Transportation
4) By End-Use: Food & Beverage, Metal & Mining, Chemical, Pharmaceutical, Power Generation, Other End-Users
What Trends Are Driving Change in the Air Filter Media Market?
Manufacturing industries for filter media are progressively adopting nanofibers or nano-coating for their filter media to enhance the effectiveness of separating dust. Mann + Hummel, a firm that specializes in the production of filters and filter media, designed a filter media coated with nanofiber, able to separate fine particles with an outstanding efficiency of up to 99.99%. This filter is predominantly employed in commercial vehicle air filters. In a similar development, AWA Paper & Technological crafted Nanowoven, a fundamental filter media layered with a nanofiber web, specifically designed to capture exceptionally fine carbon dust effectively. This innovation also extends the life span of the filter.
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What Regions Are Contributing Significantly to the Growth of the Air Filter Media Market?
Asia-Pacific was the largest region in the air filter media market in 2023. This region is expected to continue to be the fastest growing region in the air filter media market share during the forecast period. The regions covered in the air filter media market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Air Filter Media Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the air filter media market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Air Filter Media Market Include
1. Air Filter Media Market Executive Summary
2. Air Filter Media Market Segments
3. Air Filter Media Market Size And Template Market Growth Rate
4. Key Air Filter Media Market Trends
5. Major Air Filter Media Market Drivers
……
25. Key Mergers And Acquisitions In The Air Filter Media Market
26. Top Air Filter Media Companies
27. Air Filter Media Market Opportunities And Strategies
28. Air Filter Media Market, Conclusions And Recommendations
29. Appendix
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