String Wound Filter Materials Market

Coats (US), Johns Manville Corp (US) are Leading Players in the String Wound Filter Materials Market

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% during the forecast year. The global string wound filter materials market has been witnessing consistent growth due to the rise in the demand for string wound filter materials from water & wastewater treatment, chemicals & petrochemicals, oil & gas, and food & beverages is expected to drive the string wound filter materials market globally. The demand for string wound filter materials is witnessing steady growth in these industries. Investment for the expansion activities  or setting up new manufacturing facilities, are also expected to boost the demand for string wound filter materials in the coming years for replacements and new installations.

The string wound filter materials market is dominated by large players, such as Coats  (US), Johns Manville Corp (US), MMP Filtration (India), Reliance Industries (India), Stradom (Poland). These players have adopted various growth strategies, such as expansions, and acquisitions, and agreements, to enhance their market footprint and improve their product portfolios.

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Due to the COVID-19 pandemic, there has been a significant decline in demand for string wound filter materials across the globe, owing to which, the company such as Johns Manville have reported a decline in the sales of their products.

Most of the North American and European countries, especially the US, Italy, Spain, the UK, France, and Germany, are severely impacted by the COVID-19 pandemic. The suspension of operations in several manufacturing sectors has resulted in a decline in demand for the string wound filter materials. Moreover, due to the COVID-19 pandemic, the demand from the industrial sector had declined sharply in the Q-1 and Q-2 2020. This impact was further intensified with the declining oil & gas prices and the massive gap between supply and demand. Amid the COVID-19 pandemic, the growing demand from the pharmaceutical and food & beverage industries supports to offset the marginal decline in demand caused due to slowdown in the manufacturing sector across the globe.

Related Reports:

String Wound Filter Materials Market by Yarn Type (Polypropylene, Cotton, Rayon and others), End-Use Industry (water & wastewater treatment, chemical & petrochemical, food & beverage, and oil & gas), Core Material, End-Use Industry, and Region - Global Forecast to 2025

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[email protected]

Report Code
CH 7774
RI Published ON
10/27/2020
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