Ceramic Filter Market Future Growth Prospects By 2025
The global ceramic filter market size is projected to touch USD 2.97 billion by 2025. The market is anticipated to exhibit a CAGR of 13.5% over the forecast duration. Stringent regulation regarding the treatment of disposal water and harmful gases has led to an increase in demand for ceramics filter over the forecast duration.
These filters have high mechanical strength and can easily replace polymers filters. Additionally, these filters have higher cleaning capacity and require fewer membranes to clean the water, thereby, supplementing the market growth. Quality ceramics filters are anticipated to be in demand over the next few years.
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To reduce volatile organic and gaseous compound, ceramics filters are predominantly used. Several government agencies have imposed the regulations that mandate clean air and water, thus, fueling market growth.
Key players in the industry are investing in research & development to stay competitive in the market. The emergence of new technologies has ensured low energy consumption. However, the high initial cost associated with ceramics filter is anticipated to hinder the market growth over the next few years.
Further key findings from the report suggest:
- In 2017, Ceramic water filters held 55.0% of the market share owing to increasing demand for drinking water.
- Industrial application category is projected to grow at a CAGR of 13.7% over the forecast duration.
- Asia Pacific alone held 35.9% of the market share in the global market in 2017.
- Key players in the ceramic filters market are investing on research & development, new product launch and expansion of product capacity.
COVID-19 Impact Insights
Ceramic filter market has witnessed a rapid decline in its growth owing to the outbreak of COVID-19. Several major countries have imposed lockdown, thereby, significantly reducing the production of the ceramic filter. Disrupted supply chain further caused the lack of raw materials, adversely affecting the market. However, lockdown restrictions have eased and various manufacturers have started their operation, albeit with protective measures and limited employee count. Amid the falling demand, industry players can focus on competitive pricing and introduction of cost-effective products to acquire a larger customer base. Moreover, economies of major countries have started to recover, which, in turn, is projected to spur the demand for ceramic filter from the residential segment.
Global Ceramic Filter Market: Key Players
3M, Glosfume Ltd., Anguil Environmental Systems Inc.
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