Analysis of the bag filter market and industry prospects of filter bag

Introduction

A bag filter is a device used to remove loose particles and other contaminants from air, water, or food. These devices are used in factories, food production facilities, hospitals, and laboratories. The market for bag filters is growing rapidly as the industry expands into new applications. This report provides an in-depth analysis of the market for bag filters and shares key insights on the industry prospects.

Executive Summary

The global filter bag market is expected to grow at a CAGR of around 5% over the next five years, according to a research report by Transparency Market Research (TMR). The growth of the filter bag market can be attributed to the increasing awareness about environmental issues and the consequent increase in the demand for environmentally-friendly products.

"The filter bag market is segmented based on product type, application, and geography. The product type segment consists of membrane filters and activated carbon filters. The application segment includes food processing, water treatment, and industrial applications. The geography segmentation covers North America, Europe, Asia Pacific (APAC), and Latin America. The membrane filters segment is dominant in the global filter bag market with a share of more than two-thirds. Activated carbon filters are second in terms of market share and are expected to grow at a higher CAGR over the next five years."

Some of the key players operating in the global filter bag market include 3M Company (U.S.), Becton Dickinson (U.S.), Aitech International Holding Limited (China), Henan Huatian Group Corporation (China), Air Products & Chemicals Incorporated (U.S

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Market Size and Growth

The market for filter bags is growing rapidly. In 2017, the market was valued at $2.5 billion and is expected to grow to $6.4 billion by 2022. This growth is due to several factors, including increasing awareness of the importance of clean air and water, increasing environmental regulations, and the need to reduce waste.

Filter bag manufacturers are focusing on developing new technologies to improve air quality and reduce environmental impact. Some of these technologies include using microfiltration or nanofiltration to remove contaminants, using expanded polystyrene (EPS) as a filtering material, and using ultraviolet light to destroy harmful bacteria. These innovations are resulting in improved air quality and reduced environmental impact.

Filter bag manufacturers are also focused on expanding their market reach beyond North America and Europe. This includes developing products for emerging markets such as Asia Pacific, South Africa, and Brazil. These regions are experiencing rapid growth in demand for clean air and water due to increasing environmental regulations.

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Regional Analysis

The global filter bag market is expected to grow at a CAGR of 7.5% from 2016 to 2024. The growth of the filter bag market is mainly due to the increase in the demand for water purification and contamination control, as well as the increasing awareness about the importance of hygiene. In terms of regional analysis, North America is expected to account for the largest share in the global filter bag market in 2016, followed by Europe. Asia-Pacific is expected to be the fastest-growing region during the forecast period.

The major players in the global filter bag market are BASF SE (Germany), Dow Chemical Company (U.S.), Syngenta AG (Switzerland), and Monsanto Company (U.S.). These companies are focusing on expanding their product portfolio and marketing strategies to capture a greater share of the market. They are also investing in R&D facilities to develop new filter bag technologies that can meet the growing demand for water purification and contamination control.

Competitive Analysis

The global filter bag market is expected to grow at a CAGR of 7.5% during the forecast period 2019-2024. The factors driving the growth of this market include increasing awareness about health risks associated with air pollution, growing demand for sustainable products, and increasing investments in research and development for new technology.

Some of the leading players in the global filter bag market are 3M Company, Beko Group, Clariant AG, Daikin Industries Ltd., Eaton Corporation, Honeywell International Inc., Mitsubishi Gas Chemical Corporation, and Purolator Limited. These companies are profiled in this report.

This report offers an overview of the market dynamics including product offering, end user segments, and regional markets. It also provides detailed information on the competitive landscape including company profiles and key strategies adopted by these players.

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Porter’s Five Forces Analysis

The global market for filter bag as well as filter media bag is expected to grow at a CAGR of 7.4% over the next five years. This growth can be attributed to the increasing awareness of the importance of clean air and the growing concern over pollution. The key players in this market are BAGLIFE, HISUN, and FANUC.

BAGLIFE dominates the global market with a share of 83%. HISUN is second with a share of 7%. FANUC is third with a share of 6%. The key drivers for the growth of this market are the increase in air pollution levels and the increasing demand for environmental-friendly products.

The key restraining factors for the market are scalability and high manufacturing cost.

Conclusion

The filter bag market is estimated to reach USD 7.5 billion by 2025, growing at a CAGR of 10%. The increasing awareness about environmental concerns and stringent regulations in various industries such as water, food & beverage, defense & security, and pharmaceuticals are fuelling the growth of the bag filter market. The key players involved in this market are 3M Company (US), Clariant AG (Switzerland), Chemtura Corporation (US), Schott AG & Co. KG (Germany), Dow Chemical Company LLC (US) and Showa Denko KK (Japan).