Gas Filters Market Size, Growth, Industry & Revenue | 2031

Report Description

Gas Filters Market Outlook

The global gas filters market was estimated at USD 6,190.7 Million in 2022 and is anticipated to reach USD 8,781.1 Million by 2031, expanding at a CAGR of 4.1% during the forecast period.

Gas filters are specialized devices, which are used to remove impurities and contaminants from the gas processing system. Gas filtration is the process in which contaminants and dirty solid particles are removed from a gas or vapor. Various methods are used for the removal of unwanted solid particles from gas, which includes Brownian motion method, electrostatic, locking effect, inertial, and sieving effect. Filtration plays a significant role in gas processing, removing harmful liquid and solid particles, and improving the product quality. Natural as well as industrial gas processing uses multiple filtration processes at treatment facilities to remove hydrocarbons, water vapor, contaminants, and acid gas.

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Gas filters are high-efficiency filters for filtering rust, dust, condensates, and other liquids from the natural as well as industrial gas stream. A gas filter acts as a permeable barrier that cleans the gas of impurities and contaminants before they enter the gas injection system. The gas filter is a cartridge with filtering material composed of paper inside. The gas filter system consists of two key parts: the connecting unit and the filters. The connecting unit has inlet and outlet connectors for the gas lines, and the system is wall-mounted or fixed to a bench. These gas filters are usually made from aluminum, stainless steel, nickel, or polystyrene. These filters are either disposable or refillable.

Macro-economic Factors

Economic Growth

Economic development has a significant impact on the gas filters market. Per capita income among the low-income groups in regions, such as Asia Pacific and the Middle East & Africa, is expected to increase in the coming years. The rapid economic growth increases the demand for various electronic devices. Thus, the surge in the use of electronic devices is creating the demand for semiconductors, which is further increasing the demand for gas filters & purifiers. Furthermore, the increasing investment and government policies towards sustainable energy and renewable energy creates growth opportunities for the energy & power sector in various emerging as well as developed economies. Thus, these investments and economic incentives in this sector boost the demand for gas filters.

Inflation

Inflation affects the gas filters market. Inflation has a huge impact on B2B businesses, such as equipment manufacturing, in terms of raw materials, manufacturing costs, and in-house price changes. The prices of raw materials required in the manufacture of gas filters are increasing, due to high demand and low supply. This significantly increases the manufacturing and labor costs.  The inflation rate in Europe was 8.3% in March 2023. Supply chain disruptions depend on inflation. Global supply chain disruptions are mainly attributed to reduced shipping capacity, trade barriers, and financial constraints. Various manufacturing industries depend on complex global supply chains, with components and raw materials coming from different countries. Thus, fluctuating inflation rate in various countries and regions affects the overall price of gas filters.

Gas Filters Market Dynamics

Market Driver- Growing Emphasis on Clean and Sustainable Energy

The global demand for natural gas as a cleaner and more environmentally friendly energy source than coal and oil is increasing. Biogas production is the fastest growing energy source in the world. Hydrogen power has been hailed as an essential component in the transition to renewable energy. Efficient filtration and separation is the key to making it a transformational energy source. Therefore, gas filters are proving as valuable technology in the generation of renewable energy. These filters are advantageously used in many industrial processes.

Natural gas plays a vital role in water treatment and desalination processes. Power plants fueled by natural gas provide the necessary energy to run desalination plants. Therefore, the demand for clean natural gas is rising day by day, which further accelerates the growth of gas filters. Governments across the globe are focusing on clean energy, which has the power to enhance economic growth, support energy independence, and improve the health and well-being of the people. All these factors contribute to the growth of the gas filters market.

Market Driver- Technological Advancement

The oil & gas and semiconductor industries are registering significant investments in exploration and production activities, which subsequently necessitates the adoption of high-performance gas filters. Technological advancements in filter materials and designs are gaining popularity in the gas filter market. Manufacturers of gas filters are constantly striving to develop innovative filter solutions that offer improved efficiency and greater lifespan. Thus, the integration of advanced materials and filtration technologies, such as nanofiber membranes and carbon nanotubes, is revolutionizing the performance of gas filters. Thus, technology and product innovation through continuous R&D investments help or lead companies to enhance their existing gas filters. These advancements further propel the market.

Market Restraint- Fluctuating Prices of Raw Materials

The gas filters market is significantly affected by the fluctuating prices of raw materials, such as aluminum, stainless steel, polystyrene, and PTFE. The price of these raw materials has a direct impact on the manufacturing cost of gas filters, which acts as a restricting factor for the growth of the gas filters market. Aluminum and stainless steel have been registering high volatility, due to lagging production and increased demand. The main reasons behind this volatile price are geo-political events, economic slowdown, and potential recession in many countries. Therefore, the rising or fluctuating prices of raw materials directly affects the final price of the gas filter, which restricts the market growth.

Market Opportunity- Integration of IoT and Other Smart Technologies in HVAC Systems

The Internet of Things (IoT) has been transforming various sectors since the past few years, including the gas filtration and separation industry. IoT is transforming the performance of gas filters. The implementation of IoT in the digital world of industrial production is rapidly gaining pace. Efficient gas filtration is essential for well-functioning systems and processes. Integration of IoT enables precision in terms of the functioning of gas filters. Smart sensors and filters lead to fast and comprehensive maintenance checks. It helps to monitor the pipeline system and its components such as pipes, pumps, and filters. Thus, rising focus on smart technologies and increasing demand for digitalized products provide significant growth opportunities for gas filters manufacturers.

Scope of Gas Filters Market Report  

The report on the global Gas filters market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Gas Filters Market Segmental Outlook

Based on body material, the global gas filters market is segmented into aluminum, stainless steel, nickel, and others. The stainless-steel segment held 48.9% market share in 2022. Stainless steel offers superior corrosion-resistance and strength over carbon steel. With the addition of chromium (10.5 to 11 percent by mass), the steel forms a chromium oxide layer to greatly reduce corrosion. Therefore, gas filters made from stainless steel withstand extreme corrosive conditions and remove impurities, such as particulates and moisture, from gases.

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Based on application, the global gas filters market is segmented into compressed natural gas (cng) filters and industrial gas filters. The industrial gas filters segment is further categorized into oxygen filters, hydrogen filters, nitrogen filters, and others. The industrial gas filters segment is projected to expand at a CAGR of 4.4% during the forecast period. The growth of industrial gases is primarily attributed to the growing manufacturing industry in developing economies of Asia Pacific. Rapid industrialization and application of industrial gases in various industries, such as manufacturing, mining, metals, food & beverage, and healthcare, are further expected to influence the market growth in the coming years. This is further expected to boost the demand for gas filters.

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On the basis of end-use industry, the global gas filters market is categorized as chemical & petrochemical, oil & gas, energy & power, semiconductor, and others. The oil & gas segment held 36.1% in 2022. The purity of feed streams in oil & gas refining is crucial to ensure adequate process reactions. Therefore, the removal of particulates and fluid contaminants from them is essential for enhancing the overall performance. Gas filters are used to separate solid contaminants, oil, and water from gas streams. Thus, efficient filtration contributes to overall process efficiency in oil & gas operations.

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Regional Outlook

On the basis of region, the global gas filters market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

The market in Asia Pacific is projected to expand at a CAGR of 5.6% during the forecast period. Asia Pacific is a major hub for chemical and petrochemical and semiconductor manufacturing and has registered significant growth in gas filters & purifiers. Developing economies such as China, India, Japan, and South Korea are increasingly focusing on the development of energy & power and oil & gas sector for economic enhancement. These factors create growth opportunities in the gas filters market. The government of Japan is taking efforts to boost its semiconductor industry and line up its efforts with those of the US. Officials from the US and Japan discussed a joint action plan at the first EPCC meeting in July 2022, to secure and promote important emerging technologies and announced plans to develop a joint international center for semiconductor research. Such plans are expected to drive the demand for gas filters.

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Key Benefits for Industry Participants & Stakeholders

• In-depth Analysis of the Global Gas filters Market

• Historical, Current, and Projected Market Size in terms of Value

• Potential & Niche Segments and Regions Exhibiting Promising Growth Covered

• Industry Drivers, Restraints, and Opportunities Covered in the Study

• Recent Industry Trends and Developments

• Competitive Landscape & Strategies of Key Players

• Neutral Perspective on Global Gas filters Market Performance