String Wound Filter Materials Market worth $2.2 billion by 2025 - Exclusive Report by MarketsandMarkets™

String Wound Filter Materials Market worth $2.2 billion by 2025 - Exclusive Report by MarketsandMarkets™

PR Newswire

CHICAGO, Nov. 2, 2020

CHICAGO, Nov. 2, 2020 /PRNewswire/ -- According to the new market research report "String Wound Filter Materials Market by Yarn Type (Polypropylene, Cotton, Rayon and others), End-Use Industry (water & wastewater treatment, chemical & petrochemical, food & beverage, and oil & gas), Core Material, End-Use Industry, and Region - Global Forecast to 2025", published by MarketsandMarkets™, the String Wound Filter Materials Market is projected to grow from USD 1.7 billion in 2020 to USD 2.2 billion by 2025, at a CAGR of 4.9% between 2020 and 2025. Increasing demand from end-use industries is expected to drive the string wound filter materials market during the next five years. Investment in expansions and new manufacturing facilities in the end-use industries is also expected to boost the demand in the coming years.

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Browse in-depth TOC on "String Wound Filter Materials Market"

68 – Market Data Tables 
30 – Figures
118 – Pages

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Polypropylene (PP) yarn projected to lead the string wound filter materials market from 2020 to 2025

Based on the yarn type, polypropylene accounted for the largest share of the string wound materials market. Compatibility with chemicals & water makes it a better choice as yarn material. Owing to its suitability with water & wastewater, polypropylene string wound filters are the preferred pre-filters for RO systems. Apart from this, PP yarns are also compatible with a wide range of chemicals, making it suitable for use in end-use industries such as chemicals & petrochemicals, food & beverages, oil & gas, and Pharmaceuticals.

The water & wastewater segment estimated to be the largest end-user of string wound filter materials

On the basis of the end-use industry, the water & wastewater industry accounted for the largest share of the string wound filter materials. Growing populations, stringent regulations governing the water & waste water treatment norms, and investment in the water treatment plants are the key factors driving the demand for the string wound filters materials

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APAC estimated to account for the highest share of the global string wound filter materials market

APAC is projected to lead the global string wound filter materials market from 2020 to 2025. The market in the region is expected to witness a growing demand from the water & wastewater treatment, oil & gas, food & beverages, and chemical & petrochemical industries. The growth of the APAC chemical sector is also creating opportunities for the string wound filter materials market. According to the CEFIC, the total chemical sales in the APAC was USD 1.9 trillion in 2019. The growing desalination industry is also driving the string wound filter materials market in the region.

Due to the COVID-19 pandemic, the economic growth of several countries has been declining owing to the suspension of the manufacturing facilities, declining demand for the oil & gas and industrial product, and disruption of the supply chain. The demand for string wound filter materials is therefore expected to decrease in several end-use industries in 2020.

Key players such as Coats (US), Johns Manville Corp (US), MMP Filtration (India), Reliance Industries (India), STRADOM (Poland)  have adopted various strategies to strengthen their product portfolios, expand their market presence, and enhance their growth prospects in the string wound filter materials market.. Expansions, acquisitions, joint ventures, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the string wound filter materials market.

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