Key Findings of the Global High-temperature Filters Market | Technavio

LONDON–(BUSINESS WIRE)–#Research–Technavio’s latest market research report on the global
high-temperature filters market provides an analysis of the most
important trends expected to impact the market outlook from 2018-2022. Technavio
defines an emerging trend as a factor that has the potential to
significantly impact the market and contribute to its growth or decline.

According to Technavio analysts, the global high-temperature filters
market will grow at a CAGR of around 6% during the forecast
period. The industrial growth in emerging nations is a major factor
driving the market’s growth.

There has been an increasing focus on domestic manufacturing and
consumption in many emerging economies to meet the growing internal
demand for manufactured goods and reduce the dependence on imports. This
is inspiring many governments to develop and attract investments in
local industries. The increase in industrial activities in developing
nations across Asia and Latin America is expected to be a primary growth
driver for high-temperature filters during the next five years. The
leading consumer of high-temperature filters across the globe is the
manufacturing industry. Thus, the growth in manufacturing activities has
a direct impact on the demand for high-temperature filters.

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In this report, Technavio highlights the growth in global chemical and
petrochemical industry as one of the key emerging trends driving the
global high-temperature filters market:

Growth in global chemical and petrochemical
industry

The chemical and petrochemical products such as polyethylene,
fertilizers, and other industrial chemicals are used across a variety of
industries. These end-user industries include construction, packaging,
agriculture, textiles, and manufacturing among other industries. The
demand for chemical and petrochemical products from all these industries
is expected to increase during the forecast period, which will affect
the demand for high-temperature
filters.

The growth in the global chemical and petrochemical industry is expected
to be driven by the increasing growth and development activities in
emerging nations. Owing to the economic growth in these countries, the
purchasing capacity is also increasing, leading to increased consumption
of produced goods such as electronics, food, vehicles, and packaging
supplies. All these activities, which are still growing in most of the
developing nations have already reached the saturation consumption
levels in some of the developed countries. India and China are already
in the process of setting up several new petrochemical complexes to meet
this increasing demand for petrochemical products.

“The specialty chemicals industry is also expected to grow during
this period due to the demand for specialty chemicals in the end-user
industries such as transportation, packaging, and construction. There is
an increasing focus on using more environment-friendly materials in
these industries that have been driving the growth in the specialty
chemicals business. Furthermore, the use of fertilizers and
agrochemicals is expected to increase because of the increase in global
agricultural trade and the rising demand from consumers,” says a
senior analyst at Technavio for research on tools
and components.

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Global high-temperature filters market –
segmentation analysis

This report segments the global high-temperature
filters market into the following products (liquid and gas
filters and air filters) and key regions (the Americas, APAC, and EMEA).

The liquid and gas filters segment held the largest market share in
2017, contributing for more than 67% of the market share. This segment
is expected to project steady growth during the forecast period.

APAC dominated the global high-temperature filters market in 2017,
accounting for a market share of around 52%. The market share of this
region is anticipated to increase slightly during the forecast period.

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