The global string wound filter materials market size is projected to grow from USD 1.4 Billion in 2020 to USD 1.7 Billion by 2025, at a CAGR of 4.5% between 2020 and 2025. The demand for string wound filter materials can be attributed to the large-scale demand from end-use industries such as water & wastewater, Chemicals & petrochemicals, oil & gas, and food & beverages.
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COVID-19 pandemic and declining oil prices Impact on the Global String wound filter materials Market
Due to the COVID-19 pandemic, the growth in demand for string wound filter materials is expected to decline for 2020 due to a slump in the manufacturing output and postponement of the globe's expansion projects. Reduced economic activity due to the COVID-19 pandemic has caused changes in energy and oil & gas demand and supply patterns in 2020. This, in turn, has affected the string wound filter materials market.
Amid the COVID-19 pandemic, the growing demand from the pharmaceutical and food & beverage industries supports to offset the marginal decline in demand caused due to slowdown in the manufacturing sector across the globe. The demand for string wound filter materials is increasing across the end-use industries.
String wound filter materials Market Dynamics
Driver: large-scale demand from water & wastewater treatment
Water & wastewater treatment accounted for the largest end-use industries for string wound filter materials. Growing population and increasing demand for freshwater drive the consumption of string wound filter materials, either for expansion or replacements in existing manufacturing facilities. Increasing investment in the coming years is set to boost the demand in the coming years. String wound filters are the preferred filter type in the water & wastewater treatment industry as a filter and pre-filter.
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The water & wastewater segment estimated to be the largest end-user of string wound filter materials
On the basis of the end-use industry, the water & wastewater industry accounted for the largest share of the string wound filter materials. Growing populations, stringent regulations governing the water & waster water treatment norms, and investment in the water treatment plants are the key factors driving the demand for the string wound filter materials.
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This includes revised market numbers according to the effects of the coronavirus and the expected string wound filter materials market growth numbers 2021-2030.View Complete Report:https://www.thebusinessresearchcompany.com/report/string-wound-filter-materials-global-market-reportThe String Wound Filter Materials Global Market Report 2020-30 by The Business Research Company provides an in-depth analysis of the global string wound filter materials market and covers both the historic period, 2015 to 2020, and the forecast period, 2020 to 2030.
The report evaluates the market and major economies across the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.The String Wound Filter Materials Global Market Report 2021 covers string wound filter materials market drivers, string wound filter materials market trends, string wound filter materials market growth rate, string wound filter materials market major players, player-adopted strategies in the market, and string wound filter materials market size.The global string wound filter materials market is expected to grow from $1.28 billion in 2020 to $1.33 billion in 2021 at a compound annual growth rate (CAGR) of 3.85%.
The growth in the string wound filter materials market is mainly due to the growing environmental consciousness which is expected to drive the demand for string wound filter materials.
The market is expected to reach $1.67 billion in 2025 at a CAGR of 5.95%.Request For The Sample Now:https://www.thebusinessresearchcompany.com/sample.aspx?id=5147=smpThe report covers the string wound filter materials market segments-1) By Yarn Type: Polypropylene, Cotton, Rayon, Polyester, Others2) By Core Material: Polypropylene, Stainless Steel, Others3) By End Use Industry: Chemicals And Petrochemicals, Water And Wastewater Treatment, Oil And Gas, Pharmaceuticals And Medical, Food And Beverage, OthersAbout The Business Research Company: The Business Research Company is a market intelligence firm that excels in company, market, and consumer research.
String Wound Filter Materials Global Market Report 2021 by The Business Research Company is the most comprehensive report available on the market, being wide-ranging both in terms of chronology and geography.
It covers the historic period – 2015-2020, and the forecast period – 2021-2025, with additional forecasts for 2025-2030.
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TBRC’s market report includes a chapter on the COVID-19 impact on the string wound filter materials industry, which gives valuable insights on supply chain disruptions, logistical challenges, and other economic implications of the virus on the market and how companies can strategize to bounce back from it.
With updated market numbers according to the effects of the coronavirus, the report provides the most accurate expected string wound filter materials market growth numbers from 2021-2030.
Request a Sample of the report: https://www.thebusinessresearchcompany.com/sample.aspx?id=5147=smp The global string wound filter materials market is expected to grow from $1.28 billion in 2020 to $1.33 billion in 2021 at a compound annual growth rate (CAGR) of 3.85%.
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