Sintered Metal Filters Market | Unraveling the Dynamics and Advancements that Define the Evolving Landscape
The global sintered metal filters market size is expected to reach USD 2.37 billion by 2030, according to a new report by Grand View Research, Inc. The market is anticipated to expand at a CAGR of 6.7% from 2022 to 2030. This growth can be attributed to the ability of the filters to achieve effective particulate removal to protect equipment and comply with environmental regulations. The use of filters in various applications like medical, chemical, electronics, and power are driving the demand.
Sintered metal filters are made from different elements, including bronze, stainless steel, fiber filter, titanium, specially alloyed powders, and nickel-based alloys. Among all the elements used to make sintered metal filters, bronze is the most popular. Sintered metal filters have high tolerances & strength and can be used in temperatures ranging from -200 to 10000C. It has filtration accuracy from 0.5um to 300um, which helps in better separation of particulate matter.
To lessen the effects of industrial emissions, environmental protection laws are becoming increasingly important. These regulations emphasize encouraging the use of non-toxic materials, changing production procedures, and putting conservation measures in place. Sintered metal filters are made to adhere to these government norms and help to reduce harm to the environment. This will drive the demand for sintered metal filters over the forecast period.
Prominent companies use distribution channels like online modes and dedicated distribution networks. The manufacturing of sintered metal filters depends upon the type of metal used, the exact size, and the shape of the custom die. It is difficult to get these Sintered metal filters directly due to size and shape differences. So, these filters are made on order and require some time to manufacture.
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Sintered Metal Filters Market Report Highlights
Chemical & petrochemical applications led the market and are expected to grow a CAGR of 6.2% in the forecast period. Sintered metal filters in chemical & petrochemical applications help in the separation of solid and liquid and have the ability to work at higher temperatures and pressure. Furthermore, it has higher strength than any other filter and is resistant to corrosion
The medical & pharmaceutical application segment is expanding at the highest CAGR of 7.6% in the forecast period. Sintered metal filters help in preparing the process of the disinfectant final product in the medical industry by removing bacteria and other unknown materials from the solutions, which is highly effective than the method used earlier and is cost-effective
The demand was hampered owing to the COVID-19 pandemic in 2020. Operations in major economies such as the U.S., India, China, and Japan came to a halt, which affected the sintered filter industry. After easing restrictions, the demand for sintered metal filters is expected to grow at a significant rate due to increased consumption over the forecast period
The market consists of several global and regional players which are working to develop innovative and effective solutions in the filtration process to adhere to environmental norms, thus leading to high competition in the industry. Strategies followed by key players include mergers & acquisitions and increasing production capacities to gain a competitive edge to serve in the domestic and international markets
Asia Pacific held the highest market share of 40.6% in 2021 and is estimated to witness a high CAGR of 7.8% in the forecast period, owing to rapid industrialization and strict environmental regulations put in place by local governments. Furthermore, the growth of industries like food & beverages and medical & pharmaceutical are expected to drive the demand
