Product ID: SQSG20I2021
Report ID: SQSG20I2021 | Region: Global | Published Date: September, 2022 | Pages: 165 | Tables: 97 | Figures: 76
Industrial Filtration Market size was valued at USD 20.5 billion in 2021 and is poised to grow from USD 23.2 billion in 2022 to USD 36 billion by 2030, growing at a CAGR of 6.49% in the forecast period (2023-2030).
The market is influenced by a number of significant factors, such as government-enacted environmental regulations and policies, the need for safe working environments in industrial facilities, the rising demand for equipment dependability and equipment lifespan extension, and the growth of industry in developing nations.
The need for safe working environments in industrial facilities, rising urbanisation and industrialization across the globe, particularly in Asia-Pacific, stringent government policies that aim to eliminate or limit airborne pollutant concentrations in order to protect human health, and rising consumer demand for high-quality products are all driving the growth of the global industrial filtration market.
The market is largely driven by the water and wastewater treatment industry. The sector uses a number of procedures, including sewage treatment, water recycling, effluent treatment, and water treatment. Technology used in the sector also includes testing, disinfection, and distillation. The need for industrial filtering, which is necessary to remove pipe scale, algae, sand, and slit from the primary water source, is anticipated to increase as a result.
US Industrial Filtration Market is poised to grow at a sustainable CAGR for the next forecast year.
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The global industrial filtration market is segmented based on filtration type, application and region. Based on filtration type it is categorized into air, gas, liquid. Based on application Industrial Filtration Market is categorized into: food & beverage, power generation, semiconductors & electronics, chemical & petrochemicals, metals & mining, paper & paints, others. On the basis of filteration media it is classified into activated carbon, fiberglass, nonwovens, metals, filter-paper, combination filters & others. Based on region Industrial Filtration Market is categorized into: North America, Europe, Asia-Pacific, South America, and MEA.
Industrial Filtration Market Analysis by Filtration Type
In 2021, liquid filtration retained a majority market share of 57.3 percent. The industrial filtration market has been driven by strict government rules that require enterprises to filter the water they dump into the environment and by high adoption costs for these filters. The demand for liquid centrifugal filtering systems that produce zero discharge and zero emission for manufacturing and other industries, is rising. The expansion of the liquid type segment of the industrial filtration market is anticipated to be fueled by rising environmental laws pertaining to the discharge of pollutants into water bodies.
Industrial Filtration Market Analysis by Filtration Media
The market is divided into segments for activated carbon, fibreglass, nonwovens, metals, filter-paper, combination filters, and others when it comes to filter media.
As it is simple to regenerate activated carbon in-situ through the application of heat and chemical treatment, it is attractive for use in applications requiring continuous filtration. The activated carbon market segment is anticipated to grow significantly since there is a growing emphasis on employing reusable media.
Additionally, a significant portion of the market will be accounted for by combination filters and other filter media. Combination filters are in demand since many filter media are unable to handle all of the pollutants found in effluents on their own. In order to meet the demand for materials that do not hurt the environment, numerous unique renewable media, such as nutshells and plant fibres, have gained momentum. This has fueled the expansion of the combination filters & others market. During the anticipated period, the non-woven fabric segment is anticipated to continue to dominate the industrial filtration market. Because it is strong, reusable, water-resistant, hypoallergenic, fire-resistant, soft, light, and occasionally washable, this filter media segment's market is expanding.
Industrial Filtration Market Analysis by Application
Food & beverage, power generation, semiconductors & electronics, chemicals & petrochemicals, metals & mining, paper & paints, and others are the application-based divisions of this market. Due to the growing demand for high purity raw materials in both liquid and gaseous forms, the healthcare sector is anticipated to occupy the greatest share of the market. Additionally, the current Covid-19 epidemic is expected to significantly increase during the forecast period the attention on healthcare, driving the expansion of this healthcare market.
On the other hand, a growing worldwide population and a need for healthy and secure food products will drive significant market share growth for the food & beverage industry throughout the projection period.
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In North America, the industrial filtration market was valued to be worth more than USD 18.58 billion in 2021. This is the result of large investments made by regional industry to comply with rules set by organisations like the EPA and WHO. Furthermore, the region's market is being supported by thriving sectors including healthcare and electricity generation. Global demand for semiconductors and microelectronics has surged as a result of rapid digitalization. Asia Pacific has a substantial market share because it is the centre of the electronics sector. On the other hand, the market in Europe will be defined by expanding food and beverage and pharmaceutical sectors there.
On the other hand, the market in Latin America, the Middle East, and Africa is still in its infancy and is expected to grow steadily over the next years. In the upcoming years, the growing movement of manufacturing industries from developed to emerging regions will present appealing chances for market players. As a result, these industries will have access to new and advanced filtering products.
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Industrial Filtration Market Driver
Industrial Filtration Market Restraint
A critical challenge affecting the growth of the market is the substantial usage of energy during the industrial filtration process. Processes such as ultrafiltration, and centrifugal filtration account for a significant amount of energy used in the processing industry. With the rising cost of energy across the globe, this factor critically affects the profit potential of the manufacturers thus, creating opportunities for other treatment processes over filtration processes. This is anticipated to decrease the growth potential of the market.
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Top Players in the Global Industrial Filtration Market
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, in terms of revenue, the gas & liquid segment led the filtration & separation market in 2021, but the air sector is anticipated to increase at the highest CAGR over the course of the forecast period. According to filtration media, the sector for activated carbon held the market's top spot in 2021; however, the segment for combination filters is predicted to have the highest CAGR going forward. North America generated the most revenue regionally in 2021, but Asia-Pacific is predicted to have the fastest CAGR throughout the projection period.
|Market size value in 2021||USD 20.5 billion|
|Market size value in 2030||USD 23.2 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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For the Global Industrial Filtration Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Industrial Filtration Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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