Pune, India, June 14, 2022 (GLOBE NEWSWIRE) -- The North America industrial filtration market size hit USD 15.57 billion in 2021. The market value is anticipated to rise from USD 16.19 billion in 2022 to USD 20.77 billion by 2029 at a CAGR of 3.6% during 2022-2029. The market is growing as pollution control regulations become more rigorous across the region. In addition, the adoption of industrial filtering systems by a variety of sectors will propel the market forward, says Fortune Business Insights™, in its report titled “North America Industrial Filtration Market, 2022-2029."
COVID-19 Impact:
Wide-scale Industrial Slowdown Impacted Market Dynamics during Pandemic
According to a survey conducted by the Water and Wastewater Equipment Manufacturers Association (WWEMA) on the impact of COVID-19 on the wastewater treatment industry, over 90% of enterprises reported minimal sales growth and order fulfilment delays. The demand from the food & beverage and pharmaceutical industries, on the other hand, slowed the expansion of the market.
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List of Key Players Profiled in the Report
- 3M Company (U.S.)
- Pall Corporation (U.S.)
- Alfa Laval Inc. (Sweden)
- Ahlstrom-Munksjö (Finland)
- Filtration Group (U.S.)
- Lydall Inc. (U.S.)
- American Air Filter Company Inc. (U.S.)
- Dorstener Wire Tech (U.S.)
- Graver Technologies (U.S.)
- Hollingsworth & Vose Company (U.S.)
North America Industrial Filtration Market Report Scope & Segmentation:
| Report Attribute | Details |
| Market size value in 2021 | USD 15.57 billion |
| Revenue forecast in 2029 | USD 20.77 billion |
| Growth Rate | CAGR of almost 3.6% 2022-2029 |
| Base Year | 2021 |
| Historic Years | 2018 - 2020 |
| Forecast Years | 2022 - 2029 |
| Segments Covered | By Product Type, By Region |
| Forecast Units | Value (USD Billion), and Volume (Units) |
| Quantitative Units | Revenue in USD million/billion and CAGR from 2021 to 2029 |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
| Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
| Number of Companies Covered | BASF SE (Germany), DIC Corporation (Japan), Sudarshan Chemical (India), Chromaflo (U.S.), Cabot Corporation (U.S.), Heubach GmbH (Germany), Penn Colors (U.S.), Pidilite (India), Lanxess (Germany), DyStar Corporation (Singapore) |
| Report Coverage | Market growth drivers, restraints, opportunities, Porter's five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
| Customization Scope | Avail customized purchase options to meet your exact research needs. |
Segments:
By Type, Liquid Filtration Segment to Witness Robust Demand Through 2029
Based on type, the market share is bifurcated into liquid filtration and air & gas filtration. The liquid filtration segment captured the dominant market share in 2021 and will exhibit similar trends during the projected timeframe, led by increasing demand across key end-use sectors. On the other hand, the air & gas filtration segment will grow at a healthy CAGR during 2022-2029.
By Filter Media, Activated Carbon/Charcoal Segment to Gain Traction Over 2022-2029
On the basis of filter media, the market share is segmented into activated carbon/charcoal, nonwovens, fiberglass, filterpaper, metals, and combination filters & others. Among these, the activated carbon/charcoal segment is anticipated to be the fastest-growing segment during the projected period owing to high adsorption potential. The combination filters & others segment captured the largest market share in 2021 led by higher filtration efficiency.
By Application, Healthcare Sector to Generate Monumental Demand through 2029
In terms of application, the market is divided into food & beverage, semiconductors & electronics, power generation, chemicals & petrochemicals, metals & mining, healthcare, paper & paints, and others. Among these, the healthcare sector held the leading position in the market in 2021 and will continue to dominate the market share owing to increasing pharmaceuticals production.
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Report Coverage:
The report offers:
- Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
- Comprehensive insights into the regional developments.
- List of major industry players.
- Key strategies adopted by the market players.
- Latest industry developments include product launches, partnerships, mergers, and acquisitions.
Drivers & Restraints:
Increasing Popularity of Organic Products to Drive Market Growth
The rising popularity of nutritious foods can be attributed to the increased understanding and growing concerns about health and wellness. Purity with low residual content is required for organic and healthful meals, which is achieved by techniques such as industrial filtering to reduce contaminant levels. Furthermore, organic food producers must adhere to standards regulating effluent treatment, which increases the demand for industrial filtration.
However, high energy consumption during industrial filtration could hamper the market growth to some extent.
Regional Insights:
U.S. to Dominate Market Share led by Rising Industrial Activity
In 2021, the U.S. dominated the North America industrial filtration market share with USD 11.30 billion valuation. The growth of the market in the U.S. is being fueled by increased investments in industrial facilities and more rigorous pollution control regulations. Power generation, oil & gas, and pharmaceutical industries account for the majority of the product demand in the country.
The Mexican market expansion is linked to the country's increasing industrialization and expansion efforts. Furthermore, the government's execution of new rules requiring manufacturers to incorporate filtering systems is driving the market growth.
Competitive Landscape:
Market Players Focus on New Product Development and Launches to Strengthen Position
To expand their market position, North American producers are actively involved in product launches, expansion, partnerships, and acquisitions. The market players' development of sustainable products and technological innovation has resulted in intense competition.
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/north-america-industrial-filtration-market-106710
Table of Content
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Key Developments: Mergers, Acquisition, Partnership, etc.
- Latest Technological Advancement
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
- Qualitative Insights Impact of COVID 19 on North America Industrial Filtration Market
- Supply Chain Challenges
- Steps taken by Government/Companies to overcome this impact
- Potential opportunities due to COVID-19 outbreak
- North America Industrial Filtration Market Analysis, Insights and Forecast, 2018-2029
- Key Findings / Summary
- By Type (Value)
- Air & Gas Filtration
- Liquid Filtration
- By Filter Media (Value)
- Activated Carbon/Charcoal
- Fiberglass
- Nonwovens
- Metals
- Filterpaper
- Combination Filters & Others
- By Application (Value)
- Food & Beverage
- Power Generation
- Semiconductors & Electronics
- Chemicals & Petrochemicals
- Healthcare
- Metals & Mining
- Paper & Paints
- Others
- By Country (Value)
- U.S.
- Canada
- Mexico
TOC Continued…!
Key Industry Development:
November 2021: I.W. Tremont and Hollingsworth & Vose have agreed to market and distribute H&V Trupor, a revolutionary microporous filter media solution. H&V Trupor's innovative microporous filtration media enables for best-in-class flow rates and membrane reliability.
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