About this market
Emerging demand for highly efficient filter media to drive market growth. Filter media are important parts of a gas phase filtration system as they actually filter gases. However, a filter medium needs to be replaced after a certain period as contaminants accumulate over it. Therefore, the filter media in a gas phase filtration system requires considerable maintenance. Vendors are aiming to reduce this by developing improved filter media that offers enhanced filtration. analysts have predicted that the industrial gas phase filtration system market will register a CAGR of over 5% by 2023.
Market Overview
Growing investment in chemical and petrochemical industries
The chemical and petrochemical industries use different chemicals and utility products during the production process. The production of intermediate or final products involves complex steps that are accompanied by the release of harmful gases capable of corroding equipment and endangering human life. Production processes in the two industries also give off unwanted elements such as sulfur, nitrogen, oxygen, and trace metals. These components can react with different feed products to form harmful gases. Gas phase filtration systems are used to remove such harmful contaminants during different production processes, ensuring that critical equipment and machines do not get corroded and workforce safety maintained.
Uncertainties associated with volatile oil prices
The oil and gas industry is an important end-user of gas phase filtration systems in both the upstream and downstream sectors. The rising stringency of regulations on the oil and gas industry make gas phase filtration systems highly integral, but the high volatility associated with the industry presents uncertainties with respect to future investments, thereby dimming prospects for gas phase filtration system manufacturers.
For the detailed list of factors that will drive and challenge the growth of the industrial gas phase filtration system market during the 2019-2023, view our report.
Competitive Landscape
The market appears to be fragmented and with the presence of several companies including Donaldson Company and Filtration Group the competitive environment is quite intense. Factors such as the emerging demand for highly efficient filter media and the expansion of aircraft manufacturing facilities, will provide considerable growth opportunities to industrial gas phase filtration system manufactures. DAIKIN INDUSTRIES (American Air Filter Company), Donaldson Company, Filtration Group, Freudenberg Group, and Pahwa Group (Bry-Air) are some of the major companies covered in this report.