July 14, 2024

Rising Environmental Regulations to Boost the Growth of Thermal Air Filtration Market

The global Thermal Air Filtration Market is estimated to be valued at US$ 15.00 Bn in 2023 and is expected to exhibit a CAGR of 7.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Thermal air filtration refers to the use of heat treatment to remove air pollutants, particulate matter, volatile organic compounds and other harmful pollutants from industrial exhaust streams and flue gases. Thermal oxidizers and regenerative thermal oxidizers are commonly used thermal air filters that allow industrial facilities to meet strict environmental emission standards. They are especially useful in industries such as chemicals, coating operations, printing, waste treatment, and others that emit toxic pollutants. Proper air filtration helps control air pollution and protect public health from exposure to harmful emissions.

Market key trends:
One of the key trends in the thermal air filtration market is the stringent regulatory norms regarding industrial emissions. Environmental agencies across the world are enacting more stringent air pollution control regulations to curb health hazards arising from industrial air pollution. This is driving increased adoption of advanced air filtration technologies like thermal oxidation that can reliably help companies comply with emission thresholds. Furthermore, the use of regenerative thermal oxidizers that recover heat from treated exhaust gases is growing due to their higher energy efficiency compared to thermal oxidizers. Their lower operating costs are appealing to industries focused on reducing energy consumption and costs.
Porter’s Analysis
Threat of new entrants: The Thermal Air Filtration Market has moderate threat of new entrants due to the presence of stringent environmental regulations and high initial capital requirements for setting up a manufacturing plant.

Bargaining power of buyers: The bargaining power of buyers is high in this market due to the availability of numerous product alternatives. Buyers can easily switch to substitutable green technology if a player tries to raise prices.

Bargaining power of suppliers: The bargaining power of suppliers is moderate as there are many raw material suppliers for components like filters and other equipment. This ensures low dependency on any single supplier.

Threat of new substitutes: The threat of substitutes is high due to the growing emphasis on zero-emissions technologies like electrostatic precipitators for controlling industrial pollution.

Competitive rivalry: High due to the presence of numerous global and regional players offering similar products.

Key Takeaways

The global Thermal Air Filtration Market is expected to witness high growth, exhibiting CAGR of 7.4% over the forecast period, due to increasing stringent emission control regulations globally.

The regional analysis of the Thermal Air Filtration Market reveals that North America dominated the market in 2023, owing to stringent environmental norms in the US and Canada to curb industrial pollution. Asia Pacific is expected to witness the fastest growth during the forecast period, with China and India emerging as high growth markets propelled by rising industrialization and increasing need for emission control systems.

Key players operating in the Thermal Air Filtration Market are Fives, Babcock & Wilcox MEGTEC, John Zink Company,Llc, ZEECO,Inc, Eisenmann Corporation, CECO Environmental Corporation, Honeywell International, CTP(Chemisch Thermische Prozesstechnik) GmbH, Anguil Environmental, Process Combustion Corporation, CEC-ricm, Inc, Catalytic Products International (CPI), Bayeco, Inc, The CMM Group, Air Clear, Perceptive Industries, Pollution Systems, Glenro, and APC Technologies. These players are focusing on expanding their global footprint and product portfolios through mergers and acquisitions.