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Fabric Filters Market Share, Trends, Growth Rate, Industry Report And Forecast To 2033
Fabric Filters Market
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According to The Business Research Company's, The fabric filters market size has grown strongly in recent years. It will grow from $3.68 billion in 2023 to $4.03 billion in 2024 at a compound annual growth rate (CAGR) of 9.7%. The growth in the historic period can be attributed to urbanization and population growth, economic factors, public awareness and advocacy, maintenance and retrofitting demand, industrialization in emerging economies.
The fabric filters market size is expected to see rapid growth in the next few years. It will grow to $5.98 billion in 2028 at a compound annual growth rate (CAGR) of 10.4%. The growth in the forecast period can be attributed to stringent environmental regulations, industry expansion and growth, focus on air quality improvement, transition from electrostatic precipitators, growth in waste-to-energy sector. Major trends in the forecast period include circular economy initiatives, health and safety standards, international market expansion, advanced fabric materials, shift to online monitoring and diagnostics.
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Market Drivers and Trends:
Rising urbanization is expected to propel the fabric filters market going forward. Urbanization refers to the process of increasing the population concentration in urban areas, typically resulting from rural-to-urban migration and natural population growth within cities and towns. In the context of urbanization, fabric filters play a crucial role in mitigating the environmental impact of increasing industrial activities and the growing number of urban centers. As cities expand, so does the concentration of pollutants in the air, posing significant challenges to public health and environmental sustainability. Fabric filters are employed as efficient air pollution control systems in urban areas, helping to reduce particulate matter and other harmful emissions generated by industrial processes. Their adoption contributes to the creation of cleaner and healthier urban environments by enhancing air quality, aligning with the global trend towards sustainable urban development and the well-being of city dwellers. For instance, in October 2022, the World Bank, a USA-based international financial institution published an article that said globally, over 50% of the population lives in urban areas in 2022. By 2045, the world's urban population is expected to increase by 1.5 times to 6 billion. Therefore, the rising urbanization is driving the fabric filters market.
Technological advancement is a key trend gaining popularity in the fiber filter market. Major companies operating in the fabric filter market are focused on providing technologically advanced fabric filter solutions to strengthen their market position. The recent market has witnessed the use of advanced electrostatic fabric filters to reduce fly ash particle emissions. The electrostatic filter is an air filtration technology used to filter dust from critical industrial processes such as incinerators, glass manufacturing, combustion in general, cement factories, and others. For instance, in June 2022, researchers at North Carolina State University discovered a new method for filtering carbon dioxide from air and gas mixtures by combining cotton fabric with an enzyme called carbonic anhydrase. The preliminary laboratory tests represent a significant step in developing a potential carbon capture technology through a fabric filter that could reduce carbon dioxide emissions from biomass, coal, or natural gas power plants.
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Major Key Players of the Market:
Ahlstrom-Munksjö Oyj, Lydall Inc., Valmet Oyj, Freudenberg Filtration Technologies GmbH & Co. KG, American Fabric Filter Co., Johns Manville Corp., Kimberly-Clark Corporation, MANN+HUMMEL Gruppe, Norafin Industries Germany GmbH, Nordic Air Filtration AS, Sefar Holding AG, 3M Company, Eagle Nonwovens Inc., Clear Edge Filtration Inc., Berry Global Inc., Parker-Hannifen Corporation, Hamon Corporation, Autotech Nonwovens Pvt. Ltd., Nederman Corporation Inc., Pall Corporation, Siemens AG, Affinia group, Donaldson Company, Cummins Inc., Clarcor Inc, Babcock & Wilcox Company, Foster Wheeler AG, The Mitsubishi Group, KBR Inc., Thermax Ltd., Hitachi Ltd.
Fabric Filters Market 2024 Key Insights:
• The fabric filters market size is expected to see rapid growth in the next few years. It will grow to $5.98 billion in 2028 at a compound annual growth rate (CAGR) of 10.4%.
• The Rising Fabric Filter Market Amidst Growing Environmental Concerns And Global Warming Challenges
• The Surge Of Technological Advancements In The Fiber Filter Market For Sustainable Air Filtration Solutions
• Asia-Pacific was the largest region in the fabric filter market share in 2023
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