Filter Media Market To Grow 7% Annually Through 2015
February 1, 2011
Global market for nonwoven filter media to reach $3.5 billion in 2015.
MarketResearch.com has announced the addition of BCC Research's new report "Nonwoven Filter Media: Technologies and Global Markets" to their collection of manufacturing market reports.
After enjoying decades of relatively rapid growth, the nonwovens industry began slowing in 2007. At that time, it was not anticipated that the decline in nonwovens and other industries would become a serious and long-lasting global recession. At this writing, the worst of the financial downturn appears to be over; although, a handful of analysts worry about the potential for a "double-dip" recession. BCC expects a return to solid growth over the five year forecast period.
Since the end processes using nonwoven filter media are designed to control pollution and the purity of fluid streams, they are heavily regulated. Critical filtration processes include several application sectors: water filtration, HVAC (heating, ventilating, and air conditioning), manufacturing, and food processing. Increasing consumer awareness of product safety, water purity, and air quality, and their long-term effects on human health are prompting new technological trends in the filtration industry.
The global market for nonwoven filter media is projected to experience a 7% compound annual growth rate (CAGR) over the next 5 years, increasing from a value of $2.5 billion in 2010 to $3.5 billion in 2015.
The largest market, the Asia-Pacific region, is forecast to grow at the most rapid compound annual growth rate (CAGR), approximately 9.5% by 2015. From an estimated value of $923 million in 2010 (a 37% market share), regional sales will reach nearly $1.5 billion by 2015.
The European and North American markets are relatively mature and face intense competition from other types of filtration media as well as other separation and purification technologies. A compound annual growth rate (CAGR) of 5.2% is forecast for the EU. North America will have a slightly better CAGR, about 5.4%, over the 5-year forecast period.
Corporations engaged in the nonwoven filter media industry must understand the significance of these trends to effectively manage their enterprises and resources. So do stakeholders in the industry, who need to be aware of the affect these trends place upon their operations.