The global air filter media market size during this COVID-19 pandemic is projected to grow from USD 710 million in 2020 to USD 738 million by 2021, at a Compound Annual Growth Rate (CAGR) of 3.9% during the forecast period. The major factors governing the air filter media industry include the growing demand from industrialization and urbanization in APAC region, necessity for safe working environment at production sites and the growing demand for respiratory devices and face masks to prevent the transmission of Covid-19 virus.
“Food & Beverage segment estimated to be fastest-growing end-use industry for air filter media during the forecast period.”
The food & beverage segment is projected to grow at the fastest pace in the air filter media market during this COVID-19 scenario. The use of air filter media is driven due to their necessity for maintaining better food quality and minimize airborne contamination to food & beverage in this current pandemic situation. Air filters are also used to prevent dust and particulate contaminants from entering the production line. Increasing demand for these materials in this current situation to safeguard food and beverage products is also driving the requirement for air filter media in the industry.
“Nonwoven fabrics segment is projected to lead the air filter media market during the forecast period.”
The nonwoven fabrics type segment is expected to lead the air filter media market during the forecast period. The increasing demand of nonwoven fabrics is influenced by factors such as high strength, absorbency, resilience, and elasticity and resistant to mechanical deformation. These factors drive its consumption in major industries such as power generation, metal & mining, food & beverage, chemical, and pharmaceutical. In addition, there has been huge increase in demand for ventilators, respirators and other devices which are driving the use of air filter media in the healthcare industry.
“APAC is expected to be the fastest growing market for air filter media during the forecast period.”
Based on region, the air filter media market in APAC is estimated to be the fastest growing during the forecasted period. APAC has a large manufacturing base for food & beverage products, pharmaceutical drugs, chemicals, and medical instruments, equipment, and devices. The Covid-19 pandemic has seen an increasing requirement of these supplies from the effected economies. This has led to a boost in the production of air filter media in the region. APAC is also influenced by rapid urbanization and industrialization which is driving the air filter media market as it is an essential part in controlling air pollution and emissions for various industries such as power, chemical, metal processing, and others.
The market sizes estimated in this study were validated through primary interviews conducted with various industry experts globally. These primary sources are divided into three categories:
- By Company Type: Tier I – 25%, Tier II – 50%, and Tier III – 25%
- By Designation: C Level – 20%, D Level – 30%, and Others – 50%
- By Region: North America – 20%, Europe – 30%, APAC – 25%, Row- 25%
The report profiles several leading players of the air filter media market that include Ahlstrom-Munksjo (Finland), Lydall, Inc. (US), Valmet (Finland), 3M (US), Freudenberg Filtration Technologies (Germany) and Camfil (Sweden). The report also includes detailed information about various growth strategies adopted by these key players to strengthen their position in the market during this crisis period.
The objective of this study is to define, describe, and forecast the impact of COVID-19 on the air filter media market, based on various segmentations, and strategically analyze these market segments with respect to individual growth trends, growth prospects, and contribution to the overall growth. In this report, the air filter media market has been segmented based on end-use industry, type, and region.
KEY BENEFITS OF BUYING THE REPORT
The report is expected to help companies in the air filter media market in the following ways:
- This report comprehensively segments the impact of COVID-19 on the air filter media market. It provides the closest approximations for the sizes of different segments of the market across different verticals and regions.
- This report is expected to help stakeholders in obtaining an improved understanding of their competitors and gain insights about their businesses during this period.
- The report includes information about strategies, such as donations, increased production, partnerships, and new product development, which were undertaken by various key players to enhance their position in the air filter media market during this crisis period.