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Air filters are estimated to grow at the highest rate( CAGR of 13 %), during the forecast period. Applications consist of commercial, residential, & industrial. Industrial is further divided into bio-filtration, oil / water separation, hot gas filtration, and others.
In 2015, ceramic filters were maximally used in residential applications. Residences contributed over 40 % to the market revenues that year. Accelerated industrialization in emergent countries like Indonesia, India, and China could boost industrial applications. This segment should grow the fastest( 13 % CAGR) till 2024.
Regional segments encompass North America, Europe, Asia Pacific, Middle East & Africa( MEA), and Central & South America( CSA). Asia Pacific garnered highest earnings in 2015. Escalating need for potable water and rising focus on safeguarding the environment are the main regional drivers. MEA is likely to grow substantially( 15.6 %) in the seven years ahead. Petrochemical industries in Qatar and Saudi Arabia generate most of the regional demand.
The worldwide ceramic filters market is greatly fragmented. Leading market players are Ceramic Filters Company Inc., Doulton Ceramics, Anguil Environmental Systems Inc., and Unifrax I LLC. Research & development, and partnerships are the main strategies for expanding manufacturing capacity and product portfolio.
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