Dust Removal High-Temperature Filter Bag Market Capacity to Reach 9.043 Billion Yuan in 2015
Stricter emission standards create market space for bag dust removal
High-temperature industries such as cement, thermal power, and waste incineration are major sources of particulate matter emissions. Among them, the cement industry emits 2 to 3 million tons of particulate matter annually, accounting for 15-20% of the national total; the thermal power industry also emits about 2.5 million tons per year, seriously affecting air quality. The new government has significantly raised environmental protection requirements, and high-temperature industries are key targets for emission reduction. Bag dust removal and electrostatic-bag composite technology are expected to replace electrostatic dust removal as the mainstream technology under the new emission standards.
According to estimates by the Ministry of Environmental Protection, about 1,400 new dry-process clinker production lines need to be upgraded during the 12th Five-Year Plan period, with an average investment of about 2,226 yuan per ton of clinker capacity, totaling about 10 billion yuan. The average investment per line is about 7-8 million yuan, and operating costs will increase by 1-2 yuan per ton. Currently, the application proportion of bag dust removal in China's thermal power industry is only about 10%, while it is generally above 50% in developed countries in Europe and America. During the 12th Five-Year Plan period, a large number of new and existing units are expected to require bag dust removal upgrades.
Demand for high-temperature filter media will grow rapidly
High-temperature filter media are the core components of bag dust collectors. Bag dust collectors can be equipped with various filter bags that are resistant to normal temperature (below 130°C), high temperature (above 130°C), corrosion, water and oil repellent, flame retardant and explosion-proof, and long life (2-4 years) to achieve different filtration effects.
Good filter media should have the following characteristics: reasonable structure, high dust collection efficiency; good release performance, easy maintenance and cleaning; appropriate air permeability, low resistance; high strength, good dimensional stability; temperature resistance, corrosion resistance, oxidation resistance, and hydrolysis resistance. Early high-temperature filter media were mainly glass fiber filter media, but they have poor wear resistance and folding resistance. New high-temperature synthetic chemical fiber filter media (such as PPS, MX, PTFE, P84) have gradually replaced glass fiber as the development direction of high-temperature filter media due to their excellent characteristics such as high filtration performance, high temperature resistance, and corrosion resistance.
Filter media account for about 30% of the cost of bag dust collectors. In the next three years, the demand for high-temperature filter media will grow rapidly with the rise of the high-temperature industrial bag dust removal upgrade market. We estimate that the filter media market capacity will increase from 4.326 billion yuan in 2012 to 9.043 billion yuan in 2015, with the thermal power and cement industries accounting for about 40%. The growth rates from 2013 to 2015 are 23%, 30%, and 31%.
Referring to the situation of Sanwei Si, which focuses on high-temperature filter media for thermal power, the profitability of filter media is good: Sanwei Si's high-temperature filter media has a three-year gross profit margin of about 28%, a three-year average net profit margin of about 8%, and product prices have remained stable at over 90 yuan per square meter in the past two years.
