Chinese filter demand to exceed 66bn Yuan

Demand for filters in China is projected to grow by 13.5% annually to 66.2bn Yuan in 2014, according to a study published by the Freedonia Group Inc.

The report, entitled ‘Filters in China’, argues that this demand will be supported by a rapid growth in the production of motor vehicles, and other transportation equipment, combined with government policies to promote energy conservation and emission reductions.

Growth in manufacturing output, building construction and urbanisation are also likely to stimulate demand for various types of filters. For instance, as income levels grow, more people in China will be able to afford home water and air purification equipment.

Demand is also expected to increase for newer products such as car cabin air filters, whilst rising demand for higher quality and extended life filters will boost the overall market value.

According to the report’s authors, internal combustion engine filters account for the majority of Chinese filter demand and will post the strongest gains, increasing by 14% annually by 2014.

Cars will remain China’s largest filter market through 2014, with sales projected to reach 24.6bn Yuan due to the high volume of air intake, oil and fuel filters. Consumer demand for filters will be fueled by increasing personal income levels and rising concerns about air and water quality.

Sales of fluid filters are expected to be supported by growth in non-agricultural water use and expanding urbanisation. Air filter sales are projected to rise 13.7% annually in 2014, with demand spurred on by rising manufacturing output of both durable goods, such as HVAC equipment, metal products and building construction materials, and nondurable goods, such as chemicals and pharmaceuticals.

In addition, utility filter market gains will be supported by the implementation of stricter air and water pollution regulations, as well as construction of numerous new power plants, water and wastewater treatment facilities, and waste incinerators, said Freedonia.

Source: INTELETEX

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