LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global filtration paper market is expected to grow at a CAGR of more than 4% during the forecast period.
This research report titled ‘Global Filtration Paper Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This report also includes an up to date analysis and forecasts for various market segments and all geographical regions.
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The market research analysis categorizes the global filtration paper market into three major end-user segments. They are:
- Food and Beverage industry
- Automotive and others
- Laboratory
Global filtration paper market by F&B industry
The increasing demand for fast food options in many emerging economies is encouraging fast food chains to expand their operations domestically and internationally. This increased number of foodservice establishments leads to a proportional rise in the demand for filtration papers. In 2016, the F&B segment dominated the global filtration paper market, with close to 67% of the market share.
Fried food products often account for profit margins of over 70%, in the restaurant business. For instance, in 2015, many restaurant owners in the Americas attained gross profit margins of over 75% from French fries, which augurs a very positive outlook for the oil filtration paper market.
Global filtration paper market by automotive and other industries
The automotive and other industries (healthcare, academia, cement and mining industry, genomics and proteomics, environmental monitoring, and oil and gas) are the second largest end-users of filtration paper.
The healthcare sector is also a significant end-user of the filtration paper market as it deals with bloodborne pathogens and pathogenic bacteria cultures in its studies and researches. Filtration papers are also used in the oil and gas industry to filter the chemicals.
According to Abhay Sinha, a lead research analyst at Technavio, “The emphasis on innovation and greater demand for knowledge will lead several companies to expand their R&D budget over the next five years, which, in turn, will add to the demand for filter papers during the forecast period.”
Global filtration paper market by laboratory
The increased number of research and testing facilities in the field of pharmaceuticals and biotechnology will lead to the rising demand for filtration paper during the forecast period. Increasing expenditure on R&D in these areas will drive the growth of the market. The pharmaceutical industry employs filtration in the drug manufacturing process.
The increase in research and testing facilities particularly in biotechnology will drive the demand for laboratory filtration papers and other filter media products. Another important area of laboratory filtration is food and beverage where filtration products are extensively used in food processing and quality control. The rise in demand from this end-user segment is likely to originate from North America and Western Europe where food safety norms are much more stringent.
“Corporate and government support and funding for the growth of innovative technologies and environmental protection are also major drivers of this market in APAC,” says Abhay.
The top vendors highlighted by Technavio’s market research analysts in this report are:
- GE Healthcare
- Sartorius
- Thermo Fisher Scientific
Browse Related Reports:
- Global Laboratory Filtration Market 2016-2020
- Global Laboratory Cart Market 2016-2020
- Global Laboratory Sterilizers Market 2016-2020
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About Technavio
Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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