By 2026, the global Homopolymer acrylic filter bags market is expected to reach USD 1.3 billion and is expected to grow at the CAGR of 4.8% during the forecasted period 2019-2026.
The homopolymer acrylic filter bags packaging market is expected to witness significant growth in the future due to its increased demand in Application industries such as food & beverage and healthcare. Significant change in the lifestyle and increasing health consciousness among the consumers are the factors driving the demand for products such as juices and drinks or functional drinks, which indirectly raises the demand for homopolymer acrylic filter bags. Wide application of Homopolymer acrylic filter bags in pharmaceuticals industries in terms of drug delivery without contamination as well as its anti-corrosive property and high sterilization strength also makes it applicable in the medical industry. The huge demand for alcohol drinks is one of the major factors responsible for driving the growth of the glass packaging market. Moreover, rising population and high consumption of food and beverages, as well as various FMCG products by the consumers, are driving the Homopolymer acrylic filter bags market globally. On the other hand, strict regulation for the packaging material and increasing environmental concerns may restrain the growth of Homopolymer acrylic filter bags market in future.
The market research study on “Homopolymer Acrylic Filter Bags Market - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026” offers a detailed outlook, strategic recommendations, and insightful viewpoints on the global Homopolymer acrylic filter bags market. The report also analyzes the key players operating in Homopolymer acrylic filter bags market and identifies the key strategies deployed by them along with the market share of leading players.
The global Homopolymer acrylic filter bags market is segmented as below:
Homopolymer acrylic filter bags Market By Surface Finish
Homopolymer acrylic filter bags Market By Coating
Homopolymer acrylic filter bags Market By Application
Homopolymer acrylic filter bags Market By Geography
The global Homopolymer acrylic filter bags market is segmented by surface finish, coating, application, and region.
On the basis of Surface Finish, the market is segmented into singeing & calendering, and plain. On the basis of coating, the market is categorized into anti-static, PTFE coating, oleophobic, hydrophobic, flame retardant, anti-acid, and others. On the basis of application, the global Homopolymer acrylic filter bags market has been segmented into pharmaceuticals, cement, power generation, chemicals, metal, food & beverage, oil & gas, coal, printing & dyeing, and others.
The U.S. accounted to be the largest market in North America region and held a significant share of total North America Homopolymer acrylic filter bags market owing to different factors such as an increase in demand for personal care and healthcare products. The Homopolymer acrylic filter bags market in North America is growing at a faster pace owing to various factors such as strict government regulations regarding environmental safety. Consumers are attracted to the sustainable solutions due to the environmental benefits such as reduced greenhouse emissions offered by the packaging as well as convenience and ease of use of usage provided by the containers in which these are stored. Constant efforts are being made to enhance new systems such as self-compressing bags. According to a report from Steel Recycling Institute, the steel recycling rates have increased from 15% (1988) to 71% (2012) in North America. More than 1.3 million tons of steel (tinplate) was recycled in 2012. Moreover, in North America, 64% of paper and paperboard generated were recycled in 2012. This increasing trends towards the recycling will bring a nuw change in the North America Market. Asia-Pacific Homopolymer acrylic filter bags market is anticipated to be the fast-growing market in the forecast period owing to the rapid growth in urbanization and rising living standards has fuelled the demand for Homopolymer acrylic filter bags which has attracted market players to make significant investments in Homopolymer acrylic filter bags market. Also, the development of new manufacturing facilities is likely to create potential market growth opportunities.
Europe and LAMEA are also the prominent regions for the market. Continuously increasing demand for the homopolymer acrylic filter from pharmaceutical industry in Europe and LAMEA will drive the homopolymer acrylic filter market in these regions. Europe holds the major market share but the market is saturated on the other hand, LAMEA holds the least share in the global homopolymer acrylic filter market, but holds the huge opportunity. Huge untapped opportunity in the market will help to attract the companies for investment in this region thereby driving the homopolymer acrylic filter market growth.
Some of the major players analyzed and profiles in this market include SLY Inc., Amrit Filter, HL Filter USA.LLC., W. L. Gore & Associates, Inc., Zonel Filtech, Donaldson Company Inc. Companies are involved in strategic alliances including mergers & acquisitions, joint ventures, partnership, and capacity expansion to implement innovative technologies with growth in production capacity to cater rising product demand.