Global Ceramic Filters Market is expected to reach USD 2,139.4 million by 2022, according to a new study by Grand View Research, Inc. Favorable regulations for both water and air filtration across key regions is expected remain a key driving factor for global ceramic filters market. Superior quality and performance over its polymeric counterpart is also expected to have a positive influence on the market growth. Growing awareness regarding clean and safe drinking water has also helped in developing its market. Increasing penetration for various industrial applications including waste water treatment is also expected to impact ceramic filters demand positively.
Ceramic water filters were the leading product segment and accounted for over 55% of total market revenue in 2014. Growth of global waste water treatment industry is expected to drive this segment over the forecast period. Air filters are expected to witness the highest growth of 13.5% from 2015 to 2022.
Global Ceramic Filters Market Revenue by Product, 2012 – 2022 (USD Million)
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Further key findings from the report suggest:
- Global ceramic filters market was worth USD 831.6 million in 2014 and is expected to reach USD 2,139.4 million by 2022, growing at a CAGR of 13.2% from 2015 to 2022.
- Residential applications dominated the global market and accounted for 41.6% of total revenue in 2014. Growing ceramic filters demand particularly in emerging markets of Asia Pacific and Africa is expected to drive this segment over the forecast period. Industrial applications are expected to witness maximum growth of 13.4% from 2015 to 2022. Rapid industrialization across China, India, Indonesia and Brazil is expected to drive this segment over the forecast period.
- Asia Pacific was the largest regional market and accounted for over 35% of total revenue in 2014. Rapid industrialization across in emerging markets such as India, China and Indonesia is expected to drive this region over the forecast period. In additon, growing environmental concerns and growing need for potable water can also be attributed for the regional growth. Middle East & Africa is expected to witness the highest growth of 15.5% from 2015 to 2022.
- Ceramic filters industry participants have been forging partnerships and investing in R&D initiatives with an aim to develop their product portfolio and expand production capacity. Prominent industry participants include Unifrax I LLC, Doulton Ceramics, Ceramic Filters Company Inc., Anguil Environmental Systems Inc., Veolia and 3M Company.
For more information: http://www.grandviewresearch.com