Automotive Filter Paper Market will reach to USD 34.11 billion by 2030 : GreyViews

Automotive Filter Paper Market Size By Application (Fuel Filter Paper, Air Filter Paper and Oil Filter Paper), By Material (Synthetic Fiber, Cellulose Fiber and Others), By Vehicle Type (HCV, LCV and Passenger Cars), Regions, Segmentation, and forecast till 2030.

Pune India, Jan. 07, 2023 (GLOBE NEWSWIRE) — The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the automotive filter paper market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the automotive filter paper market are present across various countries in the above-mentioned regions.

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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as application, material, vehicle type, and regions. The key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the paragraphs below.

 The significant players operating in the global automotive filter paper market are K&N Engineering, ALCO Filters Ltd., Xinji Huraui Filter Paper Co., Ltd, Eastar Filter Industry Co., Limited, Nevsky Filter, North American Filter Corporation, Donaldson Company Inc., MAHLE GmbH, Denso Corporation among others. To achieve a substantial market share in the worldwide automotive filter paper market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.

An automotive filter paper is used to separate undesirable substances from desirable ones in order to maintain the smooth working of automobiles. Automotive filter paper sales are expected to rise in response to the rapid increase in vehicle production. Filter papers are an important part of an automobile since they contribute to the vehicle’s durability, performance and efficiency. While the Automotive Filters Papers market is projected to grow rapidly, increased installations of non-replaceable filters hamper the market’s expansion. There are emerging trends that are expected to drive the growth of the automotive filter paper market during the forecast period, such as the development of organic filters, the development of polyurethane-based adhesive filters, and the customization of automotive filter paper. The use of automobile filter paper as a way to reduce the vehicle’s environmental impact is also gaining popularity because they improve engine efficiency and reduce fuel consumption. Moreover, there has been a shift in consumer preferences for fuel efficiency and the need to reduce pollution, which has greatly affected the dynamics of the automotive filter paper market. A global effort to reduce pollution has prompted governments to implement stringent vehicle emission regulations, which has led to mandatory vehicle testing, boosting market growth.
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Scope of Automotive Filter Paper Market Report:

Report Metric Information
Study Period 2022-2030
Base Year           2022
Forecast Period 2023-2030
Market Share Unit USD Billion
Segments Covered Application, Material, Vehicle Type, and Regions.
Regions Covered North America, Europe, Asia-Pacific, South America, and Middle-East and Africa
Major Players K&N Engineering, ALCO Filters Ltd., Xinji Huraui Filter Paper Co., Ltd, Eastar Filter Industry Co., Limited, Nevsky Filter, North American Filter Corporation, Donaldson Company Inc., MAHLE GmbH, Denso Corporation among others

Segmentation Analysis

Air filter paper is expected to be the fastest-growing segment in 2022. 

The application segment includes fuel filter paper, air filter paper and oil filter paper. The air filter paper segment is expected to witness the highest growth rate during the forecast period. The fine pores of air filter paper separate small particles by allowing air to pass through them. A good mixture of air and fuel is ensured by an air filter that cleans the air entering the engine for combustion so that any unwanted substance and other pollutants cannot enter the engine.

Cellulose fiber is expected to be the fastest-growing segment in 2022. 

The material segment includes synthetic fiber, cellulose fiber and others. The cellulose fiber segment is expected to witness the highest growth rate during the forecast period. Because of its excellent strength and random fiber size, cellulose is an extremely effective material for filtering motor oil, and it is a cost-effective way to eliminate most contaminants. The efficiency of cellulose fiber to filter out motor oil is responsible for the dominance of the cellulose fiber segment which is boosting the growth of the market.

Passenger car is expected to be the fastest-growing segment in 2022. 

The vehicle type segment includes HCV, LCV and passenger cars. The passenger car segment is expected to witness the highest growth rate during the forecast period. Passenger vehicles will contribute significantly to filter demand throughout the forecast period, due to the hub-spoke architecture of metropolitan cities and suburbs. Increased manufacturing of passenger cars will propel the growth of the market.

Regional Analysis           

The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for automotive filter paper include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.

The North American region witnessed a major share. The automotive industry is centred in North America, which drives the demand for engine intake cleaners. OEM and aftermarket demand in turn fuels the demand for automotive filter papers. Automobile filter paper manufacturers in North America are trying to increase their product portfolios by focusing on developing better and more cost-effective products with competitive properties.

Country Analysis

  • Germany

Germany’s automotive filter paper market size was valued at USD 1.68 billion in 2022 and is expected to reach USD 2.57 billion by 2030, at a CAGR of 5.5% from 2023 to 2030.
As a result of environmental concerns and strict emission standards, the country’s passenger automobile segment is expected to increase its demand for fuel engines and fuel filters and propels the growth of the market in the country.

  • China

China’s automotive filter paper market size was valued at USD 1.79 billion in 2022 and is expected to reach USD 2.7 billion by 2030, at a CAGR of 5.7% from 2023 to 2030.
As the production hub for auto manufacturers, China is expected to dominate the market for automotive filter paper. Also, the market growth will be boosted by reductions in raw material and labour costs, which will lower the production cost and increase the profit margin.

  • India

India’s automotive filter paper market size was valued at USD 1.38 billion in 2022 and is expected to reach USD 2.13 billion by 2030, at a CAGR of 5.6% from 2023 to 2030.
Among the factors that have contributed to the growth of the market in the country are the blossoming automotive industry, the introduction of electric vehicles, inflating disposable income levels, improvements in living standards for the masses, and extensive research and development.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.

Furthermore, the growth of this market is mainly driven owing to increase in the demand for filters in the automobile industry to enhance the performance and efficiency of the vehicles, propelling the growth of the market across the countries.

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GreyViews
Pune India
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