The new report by Expert Market Research titled, ‘Global Coalescing Filter Market Size, Share, Growth, Analysis, Report and Forecast 2023-2028’, gives an in-depth analysis of the global coalescing filter market, assessing the market based on its segments such as types, applications, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 8.0%
The oil and gas industry is the principal driver of the market. An increase in demand for energy, modernisation in technology, and increasing investments are the major factors leading to the growth of the oil and gas industry. The booming transition in energy and subsequent investments by the investors to uphold the market potential is leveraging the oil and gas sector at peaking heights. Further, the increase in production, exploration activities, and refining projects is driving the demand for coalescing filters, thus increasing the global market during the forecast period. The global market is also likely to be driven by the need for coalescing filters to protect sensitive equipment operated by compressed air.
Coalescing Filter Industry Definition and Major Segments
Coalescing filters are designed specifically for removing submicronic contaminants from compressed air. A coalesce filter uses the coalescing effect to separate vapours, liquids, soluble particles, or oil from another fluid. The filter is made up of several successive layers that each perform a specific purpose (separating solid particles to liquid molecules from a gas flow). Semi-permeable membranes and borosilicate microfibres are two common materials used as coalescing filters.
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By type, the global coalescing filter market is segmented into:
• Vertical Coalescing Filter
• Horizontal Coalescing Filter
The major applications of the market are:
• Oil and Gas
• Power Generation
On the basis of region, the market is segmented into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Coalescing Filter Market Trends
Coalescing filters provide clean air for several applications, and such applications are expected to drive the global coalescing filter market. Clean compressed air is important in food processing, electronics, health care, photography, dairy, and instrumentation industries. Growing focus on research and development to improve the filtration process is also creating a positive outlook for the growth of the global coalescing filter market during the forecast period. A significant increase in investments in the mining and petrochemical sectors is further propelling the demand for coalescing filters during the forecast period.
Key Market Players
The major players in the market are HYDAC Technology Corporation, Boll & Kirch Filterbau GmbH, GTS Filters & Systems (India) Pvt Ltd., Hilliard Corporation., and Microtech Filters Ltd., among others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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