The market for string wound filter materials is approximated to be USD 1.4 billion in 2022, and it is projected to reach USD 1.8 billion by 2027 at a CAGR of 4.5%
Out of the two string wound filter yarn type types (polypropylene & cotton), polypropylene yarn type has the largest market share. The growing end-use industries such as water & wastewater treatment, chemical & petrochemicals and food & beverages are expected to drive the market.
New York, March 21, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "String Wound Filter Materials Market by Yarn Type, Core Materials, End-Use Industry And Region - Global Forecast to 2027" - https://www.reportlinker.com/p05982887/?utm_source=GNW
The increasing investments in water & wastewater treatment industry in emerging economies like China and India are also likely to drive the market during the forecast period.
• By Yarn Type, Polypropylene yarn accounted for the highest CAGR during the forecast period
The low cost and compatibility of the yarn with chemicals & water are the key factors making polypropylene the most preferred yarn type.Cotton accounted for the second-largest yarn after polypropylene yarn type among the string wound filter materials.
There are different types of cotton yarns available for the construction of string wound filters, such as natural cotton, natural cotton blend (a blend of natural cotton and polyester fibers), and FDA-approved bleached cotton. These yarns can withstand temperatures nearly to the polypropylene but are relatively less compatible with certain chemicals.
• By Core Material, Polypropylene material accounted for the highest CAGR during the forecast period
In this report, the string wound filter materials market is divided into three types of core material: polypropylene, stainless steel and others.Other core materials include tinned steel and glass-filled polypropylene.
Due to low cost and chemical compatibility polypropylene material in core is preferred by various end-use industries. This characteristics make polypropylene core to hold largest market share in core material for string wound filters followed by stainless steel core. 304 and 316 are the stainless steel cores commercially used for string wound filters. Stainless steel cores can withstand temperatures up to 400oC, which makes them suitable for high-temperature operations.
• By End Use Industry, food & beverages accounted for the highest CAGR during the forecast period
String wound filters in the food & beverage industry are used for the filtration of food ingredients and fluids.FDA approved materials are generally preferred for the construction of these string wound filters.
Polypropylene, bleached cotton, and rayon are yarns that are FDA-approved materials used as yarn materials.The growing food & beverage industry is expected to drive the demand for string wound filter materials in the industry segment.
The growing population and increasing preference for packaged foods are the key factors making food & beverages one of the world’s largest and fastest-growing markets for string wound filter materials.
Asia Pacific is projected to account for the highest CAGR in the string wound filter materials market during the forecast period
The Asia Pacific region is the hub of foreign investments and growing industrial sectors largely due to low-cost labor and cheap availability of lands.Due to this, manufacturing industries are increasing, which helps to increase the demand for string wound filter materials.
In addition to this, the demand for string wound filter materials in this region is also attributed to the growing food and beverages industry.India in Asia Pacific region accounted for highest CAGR in the string wound filter materials market, followed by China and South Korea.
These countries are projected to witness a steady increase in consumption between 2022 and 2027.
Further in-depth interviews were conducted with the Chief Experience Officer (CXO), Managers, Marketing Officers, Production Officers, and other related key executives from various key companies and organizations operating in the string wound filter materials market.
• By Company Type: Tier 1: 30%, Tier 2: 25%, Tier 3: 15%, and Others: 30%
• By Designation: C-Level Executives: 40%, Directors: 25%, and Others: 35%
• By Region: North America: 35%, Europe: 30%, Asia Pacific: 30%, and Rest of the World: 5%.
Companies Covered: Schweitzer-Mauduit International, Inc. (SWM) (US), Coats Group Plc (UK), William Barnet and Son, LLC (US), Micronics Engineered Filtration Group, Inc. (US), MMP Filtration Pvt. Ltd. (India), East Asia Textile Technology Ltd. (China), STRADOM S.A (Poland) and United Filters International (US).
The market study covers the string wound filter materials market across various segments.It aims at estimating the market size and the growth potential of this market across different segments based on application, type, and region.
The study also includes an in-depth competitive analysis of key players in the market, their company profiles, key observations related to their products and business offerings, recent developments undertaken by them, and key growth strategies adopted by them to improve their position in the string wound filter materials market.
Key Benefits of Buying the Report
The report is expected to help the market leaders/new entrants in this market share the closest approximations of the revenue numbers of the overall string wound filter materials market and its segments and sub-segments.This report is projected to help stakeholders understand the competitive landscape of the market, gain insights to improve the position of their businesses and plan suitable go-to-market strategies.
The report also aims at helping stakeholders understand the pulse of the market and provides them with information on the key market drivers, challenges, and opportunities.
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