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NEW YORK , May 10, 2022 /PRNewswire/ -- The high-temperature filters market size is predicted to grow by USD 1.95 billion from 2021 to 2026 at a CAGR of 5.64% according to the latest research report from Technavio. 54% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for the high-temperature filter market in APAC. Market growth in this region will be faster than the growth of the market in other regions. The growing industrialization will facilitate the high-temperature filter market growth in APAC over the forecast period.
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High-temperature Filters Market - Scope
The high-temperature filters market covers the following areas:
High-temperature Filters Market - Drivers & Challenges
Industrial growth in emerging nations is one of the key drivers supporting the high-temperature filter market growth. The leading consumer of high-temperature filters across the globe is the secondary or manufacturing industry. Therefore, the rise in manufacturing activities has a direct impact on the demand for high-temperature filters. For instance, the Indian government has already planned and started construction work on five industrial corridors that will connect major economic and manufacturing hubs in South and North India . China , which is the largest manufactured goods exporter, has witnessed a considerable downturn in its economy due to reduced global trade. This has led to a severe impact on the country's manufacturing industry which is struggling with closures and bankruptcies.
However, the growing market consolidation is one of the key high-temperature filter market trends fueling market growth. The demand for chemical and petrochemical products is expected to increase from end-user industries such as construction, packaging, and others. This will increase the demand for high-temperature filters. Due to the economic growth in emerging countries, the purchasing capacity is also increasing, resulting in increased consumption of produced goods. The use of fertilizers and agrochemicals is expected to rise due to the increase in global agricultural trade and the rising demand from consumers. This, in turn, will drive the global chemical and petrochemical industry, which may ultimately lead to growth in the demand for high-temperature filters during the forecast period.
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High-temperature Filters Market - Segmentation Analysis
The High-temperature Filters Market is segmented by Product (Liquid and gas filters and Air filters) and Geography (APAC, North America , Europe , Middle East , Africa , and South America ). Technavio report presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters.
The high-temperature filter market is fragmented and the vendors are deploying growth strategies such as quality, price, service, brand image, distribution, and marketing to compete in the market.
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Accelerate at a CAGR of 5.64%
Leading companies, competitive strategies, consumer engagement scope
Advanced Filtration Concepts Inc., Air Filters Inc., Alfa Laval Corporate AB, American Air Filter Co. Inc., BOGE KOMPRESSOREN Otto Boge GmbH and Co. KG, BWF Offermann Waldenfels and Co. KG, Camfil AB, Donaldson Co. Inc., Filtration Group Corp., Freudenberg SE, Harmsco Inc., HEPA Corp., MANN HUMMEL International GmbH and Co. KG, Parker Hannifin Corp., RUSSELL FINEX SIEVES AND FILTERS PVT. LTD., Spectrum Filtration Pvt. Ltd., Testori Spa, VENTILACION Y FILTRACION SL, W. L. Gore and Associates Inc., and Walker Filtration Inc.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,
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About Us Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. Contact Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: [email protected] Website: www.technavio.com/
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