Dublin, April 27, 2022 (GLOBE NEWSWIRE) -- The "Liquid Filtration Market (2021-2026)" report has been added to ResearchAndMarkets.com's offering.
The Liquid Filtration Market size is forecast to reach US$2.7 billion by 2027 after growing at a CAGR of 6.1% during the forecast period 2022-2027.
Liquid Filtration is the process of removing solids from a contaminated liquid by passing it through a filter media in order to contain solid particles and to allow clean liquid to pass through the system. Different types of liquid filtration systems include particle filtration and membrane filtration such as reverse osmosis and micro-filtration system. The Ministry of Petroleum and Natural Gas (MoPNG) announced that activities related to 8,363 Oil & Gas projects worth INR 5.88 lakh crore (US$ 80.47 billion) have resumed in India since April 2020.
This, in turn, has increased the demand for liquid filtration systems in order to filter, refine, and treat the wastewater produced from these production sites. An increase in demand from the oil & gas sectors along with strict government regulations to adopt water treatment acts as major drivers for the market. On the other hand, the dependency of the liquid filtration industry on industrial catalysts may act as a major constraint for the market.
COVID-19 Impact
There is no doubt that the COVID-19 lockdown has significantly reduced production activities, as a result of the country-wise shutdown of production sites, shortage of labor, and the decline of supply and demand chain all over the world. Studies show that the outbreak of COVID-19 sharply declined oil and gas production in 2020 due to a lack of operations across multiple countries around the world.
A decline in production activities significantly reduced the production of liquid waste generated from these petroleum refinery sites, thus, affecting the market. However, a slow recovery in new development and production activities has been witnessed across many countries around the world since the end of 2020. For instance, in September 2020, the Indian Oil Corporation (IOC) had approved an investment of INR 1,268 crore (US$ 173.5 million) in order to set up a needle coker unit at the firm's Paradip refinery in Odisha. The proposed unit is expected to have a total Calcined Needle Coke (CNC) production capacity of around 56-kilo tonnes per year.
Likewise, Australia announced its Scarborough Gas Project and Pluto LNG Expansion worth US$ 11 billion to be resumed since 2020. The facility was built with a targeted capacity of 4-5 mtpa, which will be responsible for developing the gas from the Scarborough field, located 270km off the coast of Western Australia. In this way, a slow and steady increase in oil and gas production activities is expected to increase the demand for liquid filtration for waste water treatment produced from these production sites. This will eventually lead to a steady recovery of the market in the upcoming years.
Key Takeaways
- Membrane filtration system in Liquid Filtration Market is expected to see the fastest growth, especially during the forecast period. Its wide range of benefits such as high energy efficiency, and cost-effectiveness made it stand out in comparison to other filtration systems in the market.
- Municipal Industry in Liquid Filtration Market is expected to see the fastest growth, especially during the forecast period, owing to the increasing demand for waste water treatment from the industry.
- North America dominated the Liquid Filtration Market in 2021, owing to the increasing demand for water treatment due to the shale gas exploration in the region in recent years.
Liquid Filtration Market Drivers
Increasing demand for oil and gas production is most likely to drive the market growth
Continuously increasing demand for oil and gas supplies from the industrial, commercial, and residential sectors is a key driver for market growth. For instance, Nigeria announced the start of its project called Dangote Refinery and Polypropylene Plant worth US$ 11 billion which is expected to begin its operations by 2022. The facility is expected to process different grades of crude including shale oil, along with a production capacity of 104,000 b/d of diesel, 153,000 b/d of gasoline, 4,109 b/d of LPG, 73,000 b/d of jet fuel, and 12,300 b/d of fuel oil. Similarly, Russia completed its project called Nord Stream 2 Gas Pipeline worth US$ 10.8 billion in 2021. The pipeline has increased the gas capacity of the Nord Stream route to 110 billion m3 per annum.
Water filtration system plays a major role in filtering and refining the wastewater generated from the oil & gas sector during production activities. This not only reduces the negative impact of generated wastewater on the environment but also helps the industry save a lot of money by reusing recycled waste materials. In this way, an increase in demand for oil and gas production activities in various countries across the world will also increase the demand for wastewater treatment generated during these production activities in order to maintain the prevailing environmental regulations, thus, leading to market growth in the upcoming years.
Strict government regulations to adopt wastewater treatment is most likely to drive the market growth
Authorities such as the Environmental Protection Agency (EPA) have enforced strict regulations on the discharge limits of pollutants in wastewater. For instance, the U.S. Environmental Protection Agency has issued Effluent Guideline regulations for industries under the Clean Water Act (CWA). According to this regulation, the maximum level of contamination that is allowed in discharge depends on the type of industry along with the levels that have been set as per the performance of treatment systems. Any kind of desecration of these regulations or guidelines can lead to an environmental penalty. Exceeding the mentioned discharge levels, abnormal or accidental release of pollutants along with the failure of discharge reporting can result in an environmental penalty. Hence, all the manufacturers from multiple industries are bound to follow these regulations and tend to treat wastewater properly in order to avoid such penalties. Since liquid filtration systems are primarily used in multiple industries for filtering, refining, and treatment of wastewater, this, in turn, can lead to significant growth of the Liquid Filtration Market.
Liquid Filtration Market Challenges
Dependency on industrial catalysts may cause an obstruction to the market growth
Dependency on industrial catalysts is one of the major challenges faced by the liquid filtration industry. Industrial catalysts play a vital role in improving the flow of the liquid filtration process in order to make it stable. However, these catalysts are quite expensive as well as difficult to maintain. These catalysts come with fixed guidelines and it is essential to remove all particles in the slurry from the final product for the catalysts to work. In addition to this, many of these catalysts work according to the size of the particles, which in turn, makes the process much more complex. Thus, such problems and complexity associated with industrial catalysts required in the liquid filtration industry may confine the growth of the market.
Key Topics Covered:
1. Liquid Filtration Market - Market Overview
2. Liquid Filtration Market - Executive Summary
2.1 Key Trends by Fabric Material Type
2.2 Key Trends by Filter Type
2.3 Key Trends by Filtration System
2.4 Key Trends by End-Use Industry
2.5 Key Trends by Geography
3. Liquid Filtration Market - Comparative analysis
3.1 Market Share Analysis- Major Companies
3.2 Product Benchmarking- Major Companies
3.3 Top 5 Financials Analysis
3.4 Patent Analysis- Major Companies
3.5 Pricing Analysis (ASPs will be provided)
4. Liquid Filtration Market - Market Forces
4.1 Market Drivers
4.2 Market Constraints
4.3 Porters Five Force Model
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Powers of Buyers
4.3.3 Threat of New Entrants
4.3.4 Competitive Rivalry
4.3.5 Threat of Substitutes
5. Liquid Filtration Market - Strategic Analysis
5.1 Value/Supply Chain Analysis
5.2 Opportunity Analysis
5.3 Product/Market Life Cycle
5.4 Distributor Analysis - Major Companies
6. Liquid Filtration Market - By Fabric Material Type (Market Size - US$ Million/Billion)
6.1 Cotton
6.2 Polymer
6.3 Wool
6.4 Linen
6.5 Glass Fiber
6.6 Metals
6.7 Rayon
6.8 Others
7. Liquid Filtration Market - By Filter Type (Market Size - US$ Million/Billion)
7.1 Woven
7.2 Nonwoven
7.3 Mesh
8. Liquid Filtration Market - By Filtration System (Market Size - US$ Million/Billion)
8.1 Particle Filtration
8.1.1 Bag Filters
8.1.2 Cartridge Filters
8.1.3 Self-Cleaning Filters
8.2 Membrane Filtration
8.2.1 Reverse Osmosis
8.2.2 Ultra filtration and Micro-filtration System
9. Liquid Filtration Market- By End-Use Industry (Market Size - US$ Million/Billion)
9.1 Municipal Treatment
9.2 Industrial Treatment
9.2.1 Food & Beverage
9.2.2 Chemical
9.2.3 Oil and Gas
9.2.4 Metal & mining
9.2.5 Paper and Pulp
9.2.6 Food and Beverages
9.2.7 Pharmaceutical
9.2.8 Textile
9.2.9 Others
10. Liquid Filtration Market - By Geography (Market Size - US$ Million/Billion)
11. Liquid Filtration Market - Entropy
11.1 New Product Launches
11.2 M&As, Collaborations, JVs and Partnerships
13. Liquid Filtration Market Company Analysis - Business Overview, Product Portfolio, Financials, and Developments
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