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The global filter bags market is estimated at USD 2.5 Bn in 2021 and is projected to procure USD 2.7 Bn by 2022. The market is anticipated to garner USD 4.3 Bn by 2032 while recording a CAGR of 4.9% during the forecast period from 2022 to 2032. Expansion of the market can be attributed to the increasing initiatives of the government to reduce air pollution and the rapid urbanization taking place across various developing countries.
Moreover, the growing cement and mining industries are another salient factor augmenting the industry in the assessment period. The growing usage of filter bags in coal-fired power plants is likely to offer significant opportunities for expansion in the industry in the forecast period.
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On the contrary, fluctuating prices of raw materials are expected to be the major factor hindering the market expansion. Moreover, the complexity of pollution control reforms is another factor impeding the industry expansion in the forecast period.
Key Takeaways from the Market Study
“The global filter bags market is expected to show a remarkable growth in the forecast period owing to the growing environmental concerns and the increasing imposition of stringent rules by the government of several countries to curb the air pollution.”
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Key players in the global filter bags market include Babcock & Wilcox Co., Pall Corporation, Thermax D Ltd., Eaton Corporation, and Mitsubishi Hitachi Power Systems Ltd.
Some of the recent key developments among the players are:
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Key Segments Covered in the Filter Bags Industry Report
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Key Questions Answered in the Report
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The post Filter Bags Market Outlook, Current and Future Industry Landscape Analysis 2032 appeared first on Future Market Insights.
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