(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Nov. 11, 2020 (GLOBE NEWSWIRE) -- The "String Wound Filter Materials Market - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The Global String Wound Filter Materials Market Size is Projected to Grow from USD 1.7 Billion in 2020 to USD 2.2 Billion by 2025, at a CAGR of 4.9%
Factors, such as large scale demand from industries such as water & water treatment industry, chemicals & petrochemicals, oil & gas, and food & beverage. The US, Germany, France, India, and China are the major markets. Due to the COVID-19 pandemic, the demand for string wound filter materials has been declining due to a slump in the manufacturing output and delay of the expansion projects across the globe.
Polypropylene string wound filter materials is projected to witness significant CAGR during the forecast period.
In terms of volume, the polypropylene segment accounted for the largest yarn type in the global string wound filter materials market. Compared to the other types, polypropylene yarn offers a cost advantage and is also compatible with a wide variety of process fluids. Many string wound filter manufacturers also have polypropylene-based string wound filters as their key yarn type.
Water & wastewater treatment is projected to lead the string wound filter materials market from 2020 to 2025.
In terms of value, water & wastewater treatment is projected to grow the fastest during the forecast period. New investment in the expansion of existing manufacturing facilities or water treatment plants is expected to drive the demand in the coming years. Government initiatives for the stringent water treatment norms also play an important factor in the boost in demand during the forecast period
APAC projected to account for the maximum share of the global string wound filter materials market during the forecast period.
APAC is projected to lead the global string wound filter materials market from 2020 to 2025. The market in the region is expected to witness a growing demand from the growing investment in end-use industries such as chemical & petrochemical, water treatment, and food & beverages. The growth of the APAC chemical sector is also creating opportunities for the string wound filter materials market. The growing desalination industry is also driving the consumption of a string wound filter materials market for water treatment applications within the region.
The global string wound filter materials market comprises major manufacturers such as Johns Manville (US), COATS (US), MMP Filtration (India), Reliance Industries (India), Dongguan Donggang Chemical Fiber (China), Jiangsu Sisiyuan Fiber (China), and Shanghai Jin Chi Industrial (China)
Market Dynamics
Drivers
- Use in Applications Involving High Temperature and Compatibility with Chemicals
- Replacement Market for the String Wound Filter Cartridges
Restraints
- Unsuitability of Glass Fibers for Water Treatment Application
Opportunities
- Large-Scale and Growing Demand from Chemical & Petrochemical Industry
Challenges
- Availability of Alternative Filter Media Materials in the String Wound Filters Market
Porter's Five Forces Analysis
Factors Affecting Selection of String Wound Filters
- Material Parameters
- Dimensional & Performance Parameters
Supply Chain Analysis
Cost Structure
Customers' Buying Behavior (Needs and Expectations, Decision-Making Process)
- Procurement Variation
- New Plant Expansion
- Replacement Activities
Yc and Ycc Shift
Ecosystem Map
Impact of COVID-19
Companies Mentioned
- AGY Holding Corp.
- China Jushi
- Chongqing Polycomp International Corp. (Cpic)
- Cleanflow Filter Solution
- Coats Group
- Coleman Filter Company
- Delta Pure Filtration
- Eaton
- Feature-Tec
- Gopani Product Systems
- Hongtek Filtration
- Johns Manville
- Nippon Electric Glass Co., Ltd.
- Nitto Boseki
- Owens Corning
- Saint-Gobain Vetrotex
- Shelco Filters
- Taishan Fiberglass Inc.
- Taiwan Glass Ind. Corp.
- Trinity Filtration Technology
- United Filters International (Ufi)
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