Pleated Filters Market Size, Share & Trends Analysis Report By Product (Air Filters, Food & Beverage Filters, Oil Filters), By Application (Industrial, Paints & Coatings, Power Generation, Electronics, Oil & Gas), By Region, And Segment Forecasts, 2023 - 2030

Pleated Filters Market Size & Trends

The global pleated filters market size was valued at USD 12.34 billion in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 3.9% from 2023 to 2030. The demand for the product is anticipated to grow with the rising demand for waste-water treatment from the residential and industrial segments across the globe. In addition, the rising environmental concerns are anticipated to fuel industry growth. The strict government regulations and environmental norms are In addition, industries are willingly investing in air filtration technologies in order to improve air quality and the workplace environment. The aforementioned factors are anticipated to propel the growth over the period.

Stringent norms set by the Environmental Protection Agency (EPA) and the Occupational Safety and Health Administration (OSHA) are likely to promote the use of various filtration processes, thereby driving product demand across various industries.

The fluctuating raw material prices and increased operating cost is anticipated to hamper the industry growth over the forecast period. In addition, the HVAC systems require modifications to accommodate the pleated filters in the existing systems, which increases the total cost of the filtration equipment and is expected to pose a threat to product penetration in the said application.

The installation of the product in the filtration equipment provides a for higher energy efficiency as compared to the traditional filters and saves energy costs by reducing emissions. As a result, increasing efficiency of the filtration processes due to the installation of the product is projected to propel the demand over the forecast period. 

Product Insights

The air filters segment accounted for the largest revenue share of 50.6% in 2022. The product is expected to be increasingly used in air cleaners, air purifiers, and HVAC systems in residential and commercial and industrial applications which is likely to drive its demand over the next eight years.

The food & beverage filters segment is expected to grow at the fastest CAGR of 4.3% during the forecast period. Improvement in the standard of living coupled with the rise in the spending capacity in developing regions such as Asia-Pacific and Middle & East Africa is anticipated to fuel the demand for food & beverage industries, thereby promoting the product demand.

The oil & gas filters segment is anticipated to grow at a significant CAGR during the forecast period. High demand for oil & gas filters on account of stringent regulations mandating the use and frequent replacement of filtration equipment is expected to increase product penetration over the forecast period.

The advantages offered by the product including high dirt holding capacity that minimizes the cartridge replacement needs is likely to drive the demand across various end-use industries. In addition, the manufacturing and maintenance cost of the product is low, which further propels the market growth.

Application Insights

The industrial segment accounted for the largest revenue share of 17.7% in 2022. Rising awareness regarding bio-filtration is expected to stimulate the growth of the industrial pleated filters industry over the forecast period. The industrial pleated filters market is expected to register notable gains on account of the adoption of environment-friendly products and measures by industries across the globe.

The rising awareness regarding environmental issues such as air and water pollution due to the release of pollutants into the environment is projected to propel the implementation of filtration processes in the paints & coatings industry. In addition, the rise in concerns regarding the toxic waste effluents emanating from the paints & coatings industry is expected to drive the industry growth.

The electronics segment is expected to grow at the fastest CAGR of 4.8% during the forecast period. The expected growth over the period is likely to be promoted by factors such as the increased penetration of air and liquid filtration in the electronics industry. This penetration aims to keep hydraulic and pneumatic operations free from pollutants and dirt.

The chemicals & petrochemicals segment is anticipated to grow at a notable rate during the forecast period. The expansion of chemicals & petrochemicals industry across the globe is expected to promote the growth of the market over the forecast period. The imposed emission standards on Chemicals & Petrochemicals industry by governments across the globe are expected to result in the implementation of filtration processes to limit the release of toxins.

Regional Insights

Asia Pacific dominated the market and accounted for the largest revenue share of 48.6% in 2022 and is expected to grow at the fastest CAGR of 4.9% during the forecast period. Increasing disposable income and improved standard of living in Asia Pacific is expected to promote the growth of consumer electronics goods in the region. The growth in the consumer electronics industry is likely to boost the implementation of filtration processes to eliminate pollutants in the workspace.

Europe is expected to grow at a CAGR of 2.7% during the forecast period, owing to the strict emission standards set by the European Union. Growth in the number of polluting industries, such as the cement industry, food & beverage, metal processing, and pharmaceutical industry in the region, is likely to promote the need for implementation of filtration processes.

The International Plant Protection Convention (IPPC) sets requirements for plants or facilities with regard to the emission of pollutants and aims to reduce the emission of pollutants into the atmosphere. In addition, the active participation of environmental NGOs to restrict the emission of polluted water and air from industrial sources into the environment is likely to propel the market growth.

Pleated filters aid in reducing volatile organic compound (VOC) and gaseous emissions from industrial establishments. Government initiatives such as the Clean Air Act enforced and implemented by the EPA in the U.S. to safeguard the public from exposure to harmful toxic gases are expected to propel the market growth over the forecast period.

Key Companies & Market Share Insights

Key participants in the industry are involved in the design, engineering, and marketing of the product for the separation and elimination of contaminants from fluids and gases. Research & development forms an important part of the activities of these companies and it has been a major factor driving their sales growth. The key players invest in the improvement of the supply chain in order to provide the right quality products at competitive prices.

Recent Development

• In January 2023, K&N Engineering, Inc. announced the establishment of its new industrial group, which is dedicated to providing high-performance, environmentally friendly air filtration technologies to data centers and other industrial businesses that rely on mission-critical infrastructure.

• In February 2023, Ahlstrom made a significant stride by unveiling a groundbreaking series of high-performance HVAC filter media. This innovative line, crafted at Ahlstrom's state-of-the-art production facility in Turin, Italy, boasts an extended filter lifespan while also prioritizing environmental sustainability by minimizing its ecological footprint.

• In April 2023, FIRST BRANDS GROUP LLC, a renowned industry player in engine oil filtration products, unveiled its latest premium oil filter, the FRAM Synthetic Endurance, available exclusively at Walmart.

• In October 2021, ABSOLENT launched a digital clean-air solution. It introduced the A•smart product series, which connects smoke and oil mist filtration units. With the aid of A•smart, facilities personnel can monitor filter performance and arrange preventative maintenance at a time that best suits production.

• In February 2020, PARKER HANNIFIN CORP launched a new range of 'MICROPLEAT' high-efficiency filters. These air filters are intended for use in critical HVAC applications and markets like food processing, data centers, research labs, governmental institutions, commercial office spaces and others.

• In February 2020, PARKER HANNIFIN CORP introduced the ProTura SB Nano Pleated Filters, a dust collection filter designed for use in various demanding applications.

Pleated Filters Market Report Scope

Global Pleated Filters Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global pleated filters market based on product, application, and region:

• Product Outlook (Revenue, USD Million, 2018 - 2030)

  • Air Filters

  • Food & Beverage Filters

  • Oil Filters

  • Other Filters

• Application Outlook (Revenue, USD Million, 2018 - 2030)

  • Industrial

  • Paints & Coatings

  • Chemicals & Petrochemicals

  • Electronics

  • Oil & Gas

  • Power Generation

  • Food & Beverage

  • Others

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • France

    • Italy

    • U.K.

    • Spain

  • Asia Pacific

    • China

    • India

    • Japan

    • South Korea

    • Thailand

    • Australia

  • Central & South America

    • Brazil

  • Middle East & Africa

    • Saudi Arabia