Filters Market Size, Share & Trends Analysis Report By Product (ICE Filters, Air Filters, Fluid Filters), By Application (Motor Vehicles, Consumer Goods), By Region, And Segment Forecasts, 2021 - 2028

Report Overview

The global filters market size was valued at USD 70.38 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 4.7% from 2021 to 2028. The growing emphasis on the reduction of emissions from automotive and industrial applications is expected to fuel market growth over the forecast period. Increasing product use in several consumer goods, such as air purifiers and water purifiers, is expected to have a positive impact on the market growth. The rapidly growing adoption of air purifiers in homes, hotels, restaurants, airplanes, and train compartments for the killing of harmful microbes, such as bacteria and viruses, is expected to open new opportunities for market growth.

The market in the U.S. is expected to exhibit high growth over the forecast period on account of factors such as the growing product demand from the automotive industries as per the environmental regulations laid down by the Environmental Protection Agency (EPA) for the installation of emission control solutions in vehicles. In addition, economic revival and government initiatives to promote environmental protection are expected to drive the market in the country.

The global market is expected to grow owing to the government’s emphasis on water treatment schemes for the construction of water treatment facilities. This is attributed to factors such as the scarcity of quality drinking water, the growing population, and contamination of ground and surface water bodies.

The market is expected to be driven by the growth of the global automotive industry due to factors such as the growing population and increasing disposable income, especially in developing regions such as the Asia Pacific, the Middle East and Africa, and Central and South America. Filters are used for several applications in the automotive industry such as oil intake, cabin air filtration, and emission filtration.

The industry is significantly impacted by the availability of raw materials, such as paper, cotton, synthetic textiles and fibers, metals such as iron and steel, adhesives, rubber, chemicals, and plastics. Fluctuations in the raw material prices have a direct impact on the manufacturing cost that limits industry growth.

Product Insights

ICE filters led the market and accounted for more than 40.0% share of the global revenue in 2020 owing to the growth of the automobile industry. ICE filters are widely used in automobiles to improve fuel efficiency. In addition, the implementation of environmental regulations, such as the Kyoto Protocol, Euro 5, and Euro 6, to control the release of harmful emissions is expected to boost the segment growth.

The fluid filters segment is expected to be driven by the growing investments by the governments for the construction of water treatment plants to provide safe water for various residential, commercial, and industrial applications. In addition, the wide usage of fluid filters in a variety of applications, such as cold sterilization of beverages and pharmaceuticals, petroleum refining, and dairy processing, is expected to fuel the market growth.

Air filters are expected to exhibit the fastest growth rate of 6.1% from 2021 to 2028 owing to the growing government’s emphasis on the reduction of pollutants from vehicle emissions across the globe. In addition, the rising adoption of air purifiers in recent times is expected to fuel the demand for cabin air filters that help in removing pollen and allergens from the air in homes, offices, aircraft, and train compartments.

The usage of ICE filters is expected to rise over the coming years owing to the rising adoption of a start-stop system for automatic shutdown and restart of the internal combustion engines to reduce the idling time of engines, emissions, and fuel consumption. In addition, advancements such as electric and hybrid vehicles in the automotive industry are expected to boost the growth of the ICE filters segment.

Application Insights

Motor vehicles led the market and accounted for more than 47.0% share of the global revenue in 2020 owing to the increasing automotive production, primarily in countries such as China, Indonesia, South Korea, Japan, Malaysia, and Taiwan. In addition, stringent regulations on the reduction of automotive pollution levels by agencies, such as the U.S. Environmental Protection Agency and the Department of Energy, are expected to increase the usage of filters, thus driving the product demand.

The usage of filtration equipment in several consumer goods, such as water filters, air purifiers, and air conditioners, is expected to fuel the growth of the market over the coming years. In addition, the manufacturing of portable air purifiers by several companies, such as Dyson, Philips, and Molekule, is expected to drive the consumer goods segment.

The demand for filters in the industrial and manufacturing segment is expected to be driven by a well-established industrial setup in Europe and North America, coupled with the stringent regulations in these regions on the emission from these facilities. In addition, rapidly rising industrialization trends in several developing countries, such as India, South Africa, Brazil, Thailand, and Indonesia, are expected to boost the growth of the market.

Other major applications of filters include pharmaceuticals manufacturing and wine production. Microfiltration equipment are widely used in the wine industries for the removal of contaminants, such as bacteria, particulates, crystals, and yeasts, to provide stabilization and improve the quality of the wine.

Regional Insights

Asia Pacific dominated the market and accounted for over 42.0% share of the global revenue in 2020 owing to the rapid industrialization trends, coupled with the stringent regulations by various governments to maintain the environmental quality. Increasing atmospheric pollution levels and growing environmental concerns are anticipated to promote the usage of air filtration and water filtration processes, thereby propelling growth.

The product demand in Europe is driven by the rising adoption of air filtration equipment in several industries, such as cement, chemicals, and metallurgy, to lower down their emission levels, as per the directives laid down by several agencies such as the International Plant Protection Convention (IPPC) by the European Commission. In addition, a rise in the adoption of air purifiers in several countries, such as Germany, France, Italy, and Spain, is expected to drive the regional market.

North America is expected to expand at a CAGR of 3.8% from 2021 to 2028. This is attributed to growing automobile production levels in the region owing to the presence of major manufacturers, such as Ford, General Motors, Fiat Chrysler, Kia, BMW, and Mercedes-Benz. In addition, technological advancements such as the implementation of nanotechnology in the filtration process are anticipated to boost the product demand in the region.

The demand for filters in Central and South America is likely to witness significant growth over the projected period owing to the construction of several wastewater treatment facilities in the region. This is attributed to the growing water pollution levels in countries, such as Brazil, Argentina, and Uruguay. In addition, the usage of filters in the growing mining industry in Brazil for the reduction of emission levels is expected to fuel the regional market growth.

Key Companies & Market Share Insights

The companies are involved in the development of new sustainable products and solutions offering improved efficiency and better value to the customers. The companies are trying to increase their sales through acquisitions, investments, and innovations. They are expanding their production capacities to facilitate the respective markets.

The market is competitive due to the presence of several major companies. The market is characterized by the presence of a significant consumer base across the globe with the companies operating their businesses through dedicated distribution networks. Some prominent players in the global filters market include:

• 3M

• Airex Filter Corporation

• Koch Filter

• Freudenberg Filtration Technologies SE & Co. KG

• Donaldson Company, Inc.

• Camfil AB

• Parker Hannifin Corporation

• DENSO Corporation

• Clark Air Systems

• Spectrum Filtration Pvt. Ltd.

Filters Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2017 to 2028. For the purpose of this study, Grand View Research has segmented the global filters market report on the basis of product, application, and region:

• Product Outlook (Revenue, USD Million, 2017 - 2028)

  • Fluid Filters

  • ICE Filters

  • Air Filters

• Application Outlook (Revenue, USD Million, 2017 - 2028)

  • Motor Vehicles

  • Consumer Goods

  • Utilities

  • Industrial & Manufacturing

  • Others

• Regional Outlook (Revenue, USD Million, 2017 - 2028)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • U.K.

    • France

    • Italy

    • Spain

    • Russia

  • Asia Pacific

    • China

    • India

    • Japan

    • Australia

    • Thailand

    • Malaysia

  • Central & South America

    • Brazil

  • Middle East & Africa

    • South Africa