Authored By: Sarah
10 Sep 2024

Latest News: Thermal Treatment Air Filtration Market Size to grow by USD 1465.9 million between 2024-2028

Technavio, a leading provider of market research reports, has released its latest study on Thermal Treatment Air Filtration Market. This report offers a comprehensive analysis of the current market trends, emerging opportunities, and key challenges. The oil and gas and petrochemical sectors are experiencing robust expansion due to the escalating global population and surging energy demands. According to the U.S. Energy Information Administration (EIA), global consumption of petroleum and other liquid fuels reached an average of 101.1 million barrels per day (b/d) in 2023, surpassing the pre-pandemic record. This growth trajectory in the oil and gas industry is projected to propel the expansion of the global thermal treatment air filtration market, as the sector demands advanced filtration technologies to ensure operational efficiency and environmental compliance.

Key Highlights

Growth Projections

The global thermal treatment air filtration market  size is estimated to grow by USD 1465.9 mn from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 6.35% during the forecast period. Stringent environmental regulations is driving market growth, with a trend towards growing petroleum refining  However, risk of volatility in natural gas prices  poses a challenge.Key market players include Accurate Thermal Systems LLC, Air Clear LLC, Anguil Environmental Systems Inc., APC Technologies Inc., Catalytic Products International Inc., CECO Environmental Corp., COLT TECHNOLOGIES INC., CTP Chemisch Thermische Prozesstechnik GmbH., Deuring Group GmbH., Durr AG, FIVES SAS, Freudenberg and Co. KG, Glenro Inc., Koch Industries Inc., Taikisha Ltd., Tellkamp Systems Inc., The CMM Group, and Zeeco Inc..

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Major Findings

  • In adherence with stringent environmental regulations, the Thermal Treatment Air Filtration Market is witnessing significant growth. Companies are investing heavily in advanced filtration technologies to ensure compliance with emissions standards. These filtration systems not only help in reducing pollutants but also enhance operational efficiency and productivity. The market is expected to expand at a robust pace due to increasing awareness and government initiatives towards environmental sustainability.

  • The Thermal Treatment Air Filtration market is experiencing significant growth due to the expanding water and wastewater treatment industry. Thermal treatment processes, such as thermal oxidation and incineration, generate large volumes of air pollutants that require effective filtration. These filtration systems not only help in complying with regulatory norms but also minimize energy consumption and improve overall plant efficiency. The increasing focus on sustainable and energy-efficient solutions is further driving market growth.

  • The Thermal Treatment Air Filtration Market may experience volatility due to fluctuations in natural gas prices. Natural gas is a primary fuel source for thermal treatment processes, making price instability a significant risk factor. Producers must navigate these price fluctuations to maintain profitability and efficiency. This market trend underscores the importance of implementing cost-effective filtration technologies and exploring alternative energy sources to mitigate the impact of natural gas price volatility.

  • The Thermal Treatment Air Filtration Market demands a substantial initial investment due to the integration of advanced technologies and complex processes. These systems employ thermal methods, such as incineration and regenerative thermal oxidation, to eliminate pollutants from industrial emissions. The high upfront costs are justified by the long-term benefits, including improved air quality, regulatory compliance, and enhanced brand reputation. Companies in energy-intensive industries, such as chemical manufacturing and power generation, are prime candidates for investing in thermal treatment air filtration systems.

Market Research Overview

The industrial machinery and supplies and components market encompasses businesses involved in the manufacturing of industrial machinery, presses, machine tools, compressors, pollution control equipment, elevators, escalators, insulators, pumps, roller bearings, and other metal fabrications. According to Technavio, the market size is determined by the consolidated revenue generated by these manufacturers supplying equipment for industrial applications. Factors driving growth in this market include the expanding industrial output in process and discrete industries, particularly in developing countries, resulting in increased demand for energy, chemicals and petrochemicals, pulp and paper products, and processed food and beverages.

The Thermal Treatment Air Filtration Market is experiencing significant growth, fueled by the Stringent environmental regulations. Businesses are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

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Regional Insights

The Thermal Treatment Air Filtration Market represents a significant business opportunity due to increasing environmental regulations and growing awareness towards indoor air quality. This market is driven by the rising adoption of advanced filtration technologies, such as thermal regenerative and heat recovery systems, in various industries, including healthcare, food and beverage, and manufacturing. These systems effectively eliminate pollutants, ensuring compliance with stringent air quality standards and enhancing overall operational efficiency. The market is projected to experience robust growth in the coming years, driven by technological advancements and expanding applications.

Research Analysis Overview

The Thermal Treatment Air Filtration Market encompasses various technologies such as Heat Exchangers, Catalytic Converters, Thermal Energy Recovery, and Dust Collection systems. These technologies play a crucial role in addressing international issues related to pollution problems caused by industries like Metals and Mining, Energy and Resource, Consumer Goods, Cement and Lime, Building Materials, Oil and Gas, and others. Heat exchangers help recover thermal energy from industrial air streams, reducing energy consumption and greenhouse gas emissions. Catalytic Converters and Thermal Oxidizers (Regenerative Catalytic Oxidizers, Regenerative Thermal Oxidizers, and Catalytic Oxidizers) are advanced technologies used to eliminate hazardous airborne pollutants, including toxic chemicals, polluting compounds, volatile organic compounds (VOCs), and hazardous air pollutants (HAPs). These technologies are essential for workplace safety and public health, as prolonged exposure to high pollution levels can lead to health diseases. In industries like Oil and Gas, the presence of VOCs and HAPs is particularly concerning. By effectively treating industrial air streams, thermal treatment air filtration systems contribute to reducing pollution levels and minimizing the risk of workplace accidents and health issues.

About Technavio                                                                        

Technavio is a global market research company offering comprehensive reports and insights on various industries. Our research helps businesses make informed decisions by providing actionable data and trends. Technavio is based on four simple principles: easy-to-access reports, robust industry coverage, a focus on new and emerging technologies, and competitive pricing. We believe in helping companies and executives become better equipped to make faster, sounder, and more effective decisions. Technavio is one of the most influential market research and advisory firms in the world. We work with business and technology leaders to provide cutting-edge market research and insights to companies. 

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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