Multiple Factors Driving Growth of Ceramic Filters
The global ceramic filters market was worth $831.6 million in 2014 and is expected to reach $2,139.4 million by 2022, growing at a compound annual growth rate (CAGR) of 13.2% from 2015 to 2022, according to a recent report available from Research and Markets. Favorable regulations for both water and air filtration across key regions is expected to remain a key driving factor for the global ceramic filters market. Superior quality and performance over the polymeric counterpart is also expected to have a positive influence on the market growth. Growing awareness regarding clean and safe drinking water has also helped in developing this market. Increasing penetration for various industrial applications, including wastewater treatment, is also expected to positively impact ceramic filters demand.
Ceramic water filters were the leading product segment and accounted for over 55% of total market revenue in 2014. Growth of the global wastewater treatment industry is expected to drive this segment over the forecast period. Air filters are expected to witness the highest growth of 13.5% from 2015 to 2022. Residential applications dominated the global market and accounted for 41.6% of total revenue in 2014. Growing ceramic filters demand, particularly in the emerging markets of Asia-Pacific and Africa, is expected to drive this segment over the forecast period. Industrial applications are expected to witness maximum growth of 13.4% from 2015 to 2022. Rapid industrialization across China, India, Indonesia and Brazil is also expected to drive this segment.
Asia-Pacific was the largest regional market and accounted for over 35% of total revenue in 2014. Rapid industrialization across emerging markets such as India, China and Indonesia is expected to drive this region over the forecast period. In addition, growing environmental concerns and growing need for potable water will also contribute to the regional growth. The Middle East and Africa region is expected to witness the highest growth of 15.5% from 2015 to 2022.
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