Electronic Filtration Market worth $6.0 billion by 2028 - Exclusive Report by MarketsandMarkets™
CHICAGO, Feb. 12, 2024 /PRNewswire/ -- The report "Electronic Filtration Market by Type (Gas Filter, Liquid Filter, Air Filter), Filter Material, Filtration Technologies, Application, End-use Industry (Consumer Electronics, Industrial Electronics, Semiconductors), and Region - Global Forecast to 2028", size is projected to reach USD 6.0 billion by 2028 from USD 4.0 billion in 2023, at a CAGR of 8.5% during the forecast period.
The major drivers for the electronic filtration market are the growing demand for semiconductors in various end-use industries, increasing demand for ultra-pure water in microelectronics, and enhanced cleanroom environments in semiconductors and microelectronics production. High costs associated with advanced filtrations, and the disposal of waste generated through the filtration process are considered restraining factors in this market. Whereas the usage of nanocomposite membranes, and the growth of data centers and cloud computing services act as opportunities in the market.
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The liquid filters product type is the second fastest growing product type, in terms of value, during the forecast period.
The liquid filters segment is estimated to be the second fastest-growing product type in the electronic filtration market due to the critical need to protect intricate electronic components from liquid contaminants. As electronic devices evolve in complexity and compactness, the significance of efficient liquid filtration to prevent damage and uphold optimal performance has intensified. This heightened awareness of the role liquid filters play in safeguarding electronic systems positions them as the second fastest-growing product type in the electronic filtration market.
Based on the application, the cleanroom environment application has the highest market share in terms of value in the electronic filtration market.
Cleanroom environments hold the highest market share in electronic filtration applications due to their critical role in industries like semiconductor manufacturing and pharmaceuticals. The stringent cleanliness requirements to prevent contamination and ensure optimal working conditions drive demand for advanced filtration solutions. As technology advances and precision manufacturing becomes paramount, the significance of cleanroom environments grows, making them the dominant application in the electronic filtration market.
Based onthe end-use industry, the industrial electronics end-use industry is estimated to be the second fastest-growing segment of the electronic filtration market.
The industrial electronics industry is estimated to be the second fastest growing end-use industry of the electronic filtration market, due to the escalating integration of advanced electronic components in manufacturing processes. As industries embrace automation, IoT, and sophisticated electronic equipment, there is an increasing need for effective filtration to protect sensitive electronics from contaminants. This heightened demand positions the industrial electronics sector as the second fastest-growing end-use industry in the electronic filtration market.
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South America is the second fastest growing region, in terms of value, during the forecast period in the electronic filtration market.
South America represents the second fastest-growing region in the electronic filtration market during the forecast period due to industrial expansion, urban development, and increasing environmental awareness. As the region undergoes economic growth, industries prioritize cleaner air and water solutions, driving the demand for electronic filtration technologies. Stringent environmental regulations and a rising focus on sustainability further contribute to South America's rapid adoption of advanced filtration systems.
Pall Corporation (US), Entegris, Inc. (US), 3M (US), Cobetter Filtration (China), and Parker Hannifin (US) are some of the established players in the electronic filtration market. These players have adopted various strategies such as mergers & acquisitions, joint ventures, and expansion to strengthen their market position.
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