New York, United States , June 03, 2024 (GLOBE NEWSWIRE) -- The Global Industrial Filtration Market Size is to Grow from USD 35.2 Billion in 2023 to USD 56.2 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 4.79% during the projected period.
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Industrial filtration is the system through which industries separate their products from the debris and residue from the means of production, as well as other waste products. The goal of industrial filtration is the refined end product and effective removal and drying of waste for safe disposal. The common usage of industrial filtration includes the protection of equipment from ingesting harmful contaminants, purification of air and gas streams, protection of personnel and the work environment, and separation & isolation of desirable products from the air stream. Product integrity and safety in manufacturing environments as well as protection of process equipment and maximizing uptime and performance are achieved through the application of industrial filtration. The revolutionary development of filtration in the pharmaceutical industry provides a productive and healthy lifestyle. Filtration technologies such as microfiltration and ultrafiltration have replaced the chemical techniques in diagnostic and medical research industries to keep products safe and pure. The rising investments in advanced solutions of industrial filtration for reducing emissions, minimizing waste, and ensuring compliance are driving the global industrial filtration market. The integration of digitalization and IoT technologies leads to improved efficiency and cost-effectiveness further propelling the market growth. The use of conservation practices and rapid industrialization are also contributing to driving the market. On the contrary, the higher energy consumption by the equipment and the growing energy cost impede the market growth for industrial filtration.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the"Global Industrial Filtration Market Size, Share, and COVID-19 Impact Analysis, By Type (Air & Gas Filtration and Liquid Filtration), By Filter Media (Activated Carbon, Fiberglass, Nonwovens, Metals, Filterpaper, and Combination Filters & Others), By End User Industry (Food & Beverages, Chemicals & Petrochemicals, Power Generation, Oil & Gas, Pharmaceuticals, Metals & Mining, Automotive, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.”
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The air & gas filtration segment dominates the market with the largest revenue share through the forecast period.
Based on type, the global industrial filtration market is segmented into air & gas filtration and liquid filtration. Among these, the air & gas filtration segment dominates the market with the largest revenue share through the forecast period. Air and gas filtration is used to remove contaminants much smaller than the rated pore size of the filter under dry conditions. The regulatory compliance for clean air in industries increasing the demand for air filtration resulted in propelling the market demand for air & gas industrial filtration.
The activated carbon media segment is anticipated to grow at the fastest CAGR during the forecast period.
Based on the filter media, the global industrial filtration market is segmented into activated carbon, fiberglass, nonwovens, metals, filterpaper, and combination filters & others. Among these, the activated carbon media segment is anticipated to grow at the fastest CAGR during the forecast period. The activated carbon media are effective at filtering contaminants as it is more porous. It is used in filtration for compressed air and gas purification to remove oil vapors, odor, and other hydrocarbons from the air. It is also used to reduce the level of organics and chlorine in feed water.
The chemicals & petrochemicals segment is anticipated to hold the largest market share through the forecast period.
Based on the end user industry, the global industrial filtration market is segmented into food & beverages, chemicals & petrochemicals, power generation, oil & gas, pharmaceuticals, metals & mining, automotive, and others. Among these, the chemicals & petrochemicals segment is anticipated to hold the largest market share through the forecast period. In the petrochemical industry, contaminants and impurities are removed from feedstocks and final products such as plastics, synthetic fibers, fertilizers, and chemicals. The growing investments in downstream oil and gas production and the demand for refined petroleum products are driving the market demand for industrial filtration in the chemicals & petrochemicals segment.
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North America dominates the market with the largest market share over the forecast period
North America dominates the market with the largest market share over the forecast period. The adoption of sustainable filtration media, using reusable and recyclable filters made up of materials such as walnut shells, activated carbon, and nonwovens is driving the demand for sustainable industrial filtration in the region. The rising technological advancements, digitalization, and industrialization in countries like US and Canada are driving the market growth in the region. In addition, advancement in the healthcare industry in the region creates demand for sophisticated industrial filtration systems are contributing to market growth.
Asia-Pacific region is expected to grow the fastest during the forecast period. The growing demand for energy-efficient and high-performing filtration technologies in the region is anticipated to propel the market growth. Petrochemical plants use filtration systems to remove contaminants and impurities from feedstocks and final products such as plastics, synthetic fibers, fertilizers, and chemicals which ultimately leads to propelling the market growth in the region.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Industrial Filtration Market are Pall Corporation, Eaton, Ahlstrom-Munjsko, 3M, Parker Hannifin Corp., Cummins, Danaher, Mott Corporation, Universal Filtration, Donaldson Company, Inc., Lydall, Inc., Markel Corporation, American Air Filter Company, Inc., Alfa Laval Inc., and Other Key Players.
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Recent Developments
- In September 2023, Parker Hannifin’s Industrial Gas Filtration division introduced BHA replacement dust cartridges for Donaldson Downflo Evolution (DFE) collectors.
- In August 2022, Eaton’s Filtration division showcased filtration solutions for life sciences and industrial processing at ACHEMA 2022.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global industrial filtration market based on the below-mentioned segments:
Global Industrial Filtration Market, Type Analysis
- Air & Gas Filtration
- Liquid Filtration
Global Industrial Filtration Market, Filter Media Analysis
- Activated Carbon
- Fiberglass
- Nonwovens
- Metals
- Filterpaper
- Combination Filters & Others
Global Industrial Filtration Market, End User Industry Analysis
- Food & Beverages
- Chemicals & Petrochemicals
- Power Generation
- Oil & Gas
- Pharmaceuticals
- Metals & Mining
- Automotive
- Others
Global Industrial Filtration Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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