Impact of Covid-19 on Air Filter Media Market

[56 Pages Report] The global air filter media market size during this 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 reasons for the growth in the air filter media industry are growing 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.

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Impact of Covid-19 on Air Filter Media - Market Dynamics

Driver: Growing industrialization and urbanization in APAC

Growing industrialization has led to the increase in urbanization along with economic growth, globally. This increase in industrialization has created a demand for industrial filters as there is an increase in air, liquid, and soil pollution. Air filter media is one of the markets with the most growth potential as it involves industrial process and emission controlDeveloping and developed countries, both, are major business hubs for the air filter media market. For example, manufacturing is one of the rapidly growing sectors for several developed and developing countries including China, India, Brazil, Chile, Indonesia, US, Germany, Japan, South Korea, France, and Italy. The manufacturing sector is a major contributor to the GDP of these countries. The increase in manufacturing establishments are expected to drive the industrial air purification and emission control market as there are stringent regulations such as Clean Air Act, Air Quality Directive, and others regarding release of harmful air pollutants to the environment.

Opportunity: Growing manufacturing sector in Southeast Asia

The Southeast Asian economy has witnessed tremendous growth for the past five years. The GDP growth of the region is expected to be around 4.9% from 2020 to 2024, as per Medium Term Projection Framework 2020 (OECD). The GDP growth in the Philippines and Vietnam is projected to be around 6.2% and 6.5%, respectively, for 2020 – 2024, mainly due to the increased private participation, trade agreements, and strong foreign direct investments. In the near future, Southeast Asian economies are expected to outperform more developed APAC economies, such as South Korea, Australia, and Japan. All this industrial development is expected to boost requirement for air purification and emission control thus providing opportunity for the growth of air filter media market.

Challenge: Slow growth in various end-use industries due to Covid -19

Covid-19 has impacted industries in as severe manner. Food & beverage industry experienced decline in restaurant sales. Lapse in tourism, cancellation of major sporting events, have also effected consumption of processed foods and beverages, globally. Chemical industry was impacted by supply chain disruptions, demand fall, workforce unavailability, and so on. Similarly, O&G, textile, Pulp &Paper industries have also been effected due to this pandemic. Pulp & Paper and textile industry are affected by the slowdown in fast moving consumer goods. In the next few years, normalization of supply chains, reduction in stringent measures, increase in retail consumption, growth in construction activities, stabilization of manufacturing activities, and others are expected to boost economic activities and thereby increase demand for air filter media.

Nonwoven fabric segment is projected to lead the air filter media market during the forecast period.

Based on type, the nonwoven fabrics are expected to be the largest segment during the forecast period. Nonwoven fabrics are made of long fibers that are bonded together through the application of heat, solvent, chemicals, or mechanical treatment. These are generally made out of polymers. Polymers or plastics have experienced fluctuations in demand due to this pandemic. Industries such as healthcare, pharmaceutical, chemicals, and other essential sectors experienced a growth in demand for polymers. Increase in demand for respiratory devices such as ventilators is also propelling consumption of air filter media in healthcare sector.

Food & Beverage is projected to be the fastest growing end-use industry during the forecast period

Based on end-use industry, the food & beverage segment is expected to register the highest CAGR between 2020 and 2021. For better product quality, to control odors & humidity, and to minimize air-borne contamination of food, air filtration is used in the food & beverage industry. The food & beverage industry witnessed both growth and decline scenarios. Consumption of groceries, fresh food products, and frozen foods increased due to panic buying and stockpiling effect in the pandemic period, while demand from restaurants, cafes and other food-service outlets decreased due to temporary closures amidst lockdowns and social distancing measures.

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APAC is projected to be the largest air filter media market during the projected period.

APAC is expected to be the largest air filter media market during the forecast period. This growth is attributed to large manufacturing base in the region for commodities, equipments, consumables, and medical instruments, equipment, and devices. Increasing requirement of these medical equipments such as ventilators from other COVID effected economies such as India, Indonesia, and others is boosting the production of air filter media in the region. In addition, growing manufacturing sector in Southeast Asia is also driving the air filter media market.

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Scope of the Report

This research report categorizes the air filter media market based on type, end-use industry, and region.

By Type:

• Nonwoven Fabrics
• Fiberglass
• Filter Paper

By End-use Industry:

• Food & Beverage
• Metal & Mining
• Chemical
• Pharmaceutical
• Power Generation
• Others (Pulp & paper and Textile)

By Region:

• Asia-Pacific
• North America
• Europe
• Rest of the World

Key market Players:

Ahlstrom-Munksjo (Finland), Lydall, Inc. (US), Valmet (Finland), 3M (US), Freudenberg Filtration Technologies (Germany) and Camfil (Sweden) are some of the leading air filter media market players. They have adopted short, mid, and long term growth strategies such as donations, partnerships, new product development, and others to serve their customers efficiently and improve their future market shares.

Recent Developments

• In January 2020, Alhstrom-Munksjo increased production of healthcare and medical related products to safeguard end-users in fight against the pandemic. The company showcased broad offering of face masks like civil face mask, surgical face mask and respiratory face mask for different purposes.
• In April 2020, Alhstrom-Munksjo increased its production capacity at its Turin plant in Italy, to 60 million face mask per month from previously adopted 20 million face masks per month. This will see an increase in production to about 500 million by the end of 2020.
• In July 2020, Lydall signed a USD 13.5 million contract with US Department of Defense for increasing domestic capacity of meltblown filtration media required in production of N95 respirators and surgical masks. The company added two new meltdown filtration media production lines in Rochester plant, to support this demand increase.
• In February 2020, Valmet responded to covid-19 outbreak in the beginning by establishing Global Incident Management Team (IMT) and local China IMT to ensure employees worldwide have up-to-date information and guidelines about the pandemic situation.
• In September 2020, Freudenberg developed medical face mask TYPE II (EN 14683) which provides high protection against COVID-19 virus and is comfortable to wear.

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