The industrial filters market size is estimated at USD 2.7 billion in 2018 and is projected to reach USD 3.7 billion by 2023, at a CAGR of 6.2%. The growing urbanization and industrialization in developing countries and stringent environmental regulations related to filtration are driving the demand for industrial filters during the forecast period. The key players in the industrial filters market include Valmet Corporation (Finland), Lydall Inc. (US), 3M (US), Ahlstrom-Munksjo (Finland), Clear Edge Filtration Group (US), Nordic Air Filtration (Denmark), Fibertex Nonwoven (Denmark), Sefar AG (Switzerland), Freudenberg Filtration Technologies (Germany), and Sandler AG (Germany). The industrial filters market report analyzes the key growth strategies adopted by the leading market players between 2013 and 2018. These strategies include investment & expansion, acquisition, and new product launch.
Lydall Inc. is one of the leading manufacturers of industrial filters. The company has adopted acquisition as one of its key business strategy to strengthen its position in the global industrial filters market. For example, in January 2017, Lydall acquired MGF Gutsche GmbH & Co. KG (Germany) for USD 58 million. The company has established itself as a global leader in needle punch nonwoven filters solutions and strengthened its position as a premier provider of engineered technical materials through this acquisition.
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Ahlstrom-Munksjo is among the key players in the industrial filters market. The company has adopted investment & expansion and new product launch as its key business strategies. For instance, in November 2018, Ahlstrom-Munksjo launched a highly durable air filtration media, Ahlstrom-Munksjo Extia 1000. This filtration media will increase the filtration lifetime by more than 40%, which will further help customers to extend operational duration before changing the filters.
Industrial Filters Market by Type (Liquid and Air Filter Media), End-use Industry (Food & Beverage, Metal & Mining, Chemical, Pharmaceutical, and Power Generation), and Region (APAC, Europe, North America, MEA, and SA) - Global Forecast to 2023
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