Refinery and Petrochemical Filtration Market by Filter Type (Coalescer Filter (Liquid-liquid Coalescer, Liquid-gas Coalescer), Cartridge Filter (Pleated Cartridge, High Flow Cartridge), Application, End User & Region - Global Forecast to 2028
[225 Pages Report] The global refinery and petrochemical filtration market is estimated to grow from USD 4.6 billion in 2023 to USD 6.1 billion by 2028; it is expected to record a CAGR of 6.0% during the forecast period. Refineries is one of the major application areas of refinery and petrochemical filtrations. Refineries would continue to grow by exponentially as a result of high requirement of fuels and other the rising energy demand. Additionally, the transportation sector is growing massively, increasing the need for fuels. This is anticipated to enhance the refinery and petrochemical filtration market size.
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Refinery and Petrochemical Filtration Market Dynamics
Driver: Implementation of government mandates and policies for environmental protection
There is a growing global significance placed on environmental protection laws and regulations aimed at mitigating the effects of carbon emissions. These standards prioritize the promotion of non-hazardous substances, alterations to production methods, and the adoption of conservation practices. Additionally, they encourage the reutilization of materials instead of disposing them as waste, thus contributing to pollution reduction. Early adopters of these environmental protection laws can be found in North America and Europe, while developing countries in Asia Pacific, the Middle East, and Africa are also implementing various emissions standards to combat pollution. As a result, the demand for refinery and petrochemical filtration systems is expected to be driven by these regulations.
Restraint: Availability of low-cost and inferior-quality filtration products
Refinery and petrochemical filter prices vary based on product type and filter media. There are various manufacturing standards for filter products to maintain filtrate quality. Industrial filters are used across refineries and petrochemical plants to avoid unplanned operational interruptions by removing contamination, reducing maintenance costs, and preserving natural resources. These factors contribute to the high price of industrial filters in the market. However, gray market products pose severe challenges to brand owners by providing inferior-quality alternatives and maintenance services at a low cost. In developing countries, cost plays a significant role during procurement, which provides opportunities for local players to offer substitutes and similar products at a comparatively lower price. This factor restricts the entry of global players into the local market and presents a challenge for the petrochemical and refinery filtration market.
Opportunities: Rising shale development activities to enhance shale refining potential
Shale and oil sands play a significant role as energy sources across North America, South America, and the Asia Pacific region. Over the last decade, North America has experienced a remarkable surge in the production of unconventional resources like shale and tight oil. This growth can be attributed to advancements in horizontal drilling and hydraulic fracturing technologies. The shale industry is rapidly expanding, thanks to a series of discoveries and technological breakthroughs. Although a substantial amount of oil and natural gas is being extracted from shale rock formations, the world currently faces limitations in refining shale oil and gas. Consequently, there is a promising prospect for infrastructure development and the utilization of refinery and petrochemical filters to address the refining challenges and capitalize on the opportunities offered by shale oil and gas refining.
Challenges: Supply chain constraints
The refinery and petrochemical infrastructure industry faces numerous supply chain constraints that can impact production and profitability. One of the main challenges filtration product manufacturers face is the availability of raw materials, such as different filter media. The production of high-quality filters requires specialized materials that are often in short supply. This can lead to delays in production and increased costs as manufacturers must pay a premium to secure the necessary materials. Transportation constraints are also a significant challenge for the filtration product industry. However, with careful planning, innovation, and investment, manufacturers can overcome these challenges and continue providing high-quality products essential to the global economy.
Refinery and Petrochemical Filtration Market Ecosystem
Leading companies in this market include well-established, financially secure producers of refinery and petrochemical filtrations. These corporations have been long operating in the market and have a differentiated product portfolio, modern manufacturing technologies, and robust sales and marketing networks. Major companies in this market include 3M (US), Pall Corporation (US), Parker Hannifin Corporation (US), Eaton (Ireland), and Pentair Filtration Solutions, LLC (US).
The bag filter segment, is expected to be the second largest market by filter type during the forecast period.
By filter type, the refinery and petrochemical filtration market is divided into coalescer filter, cartridge filter, electrostatic precipitator, filter press, bag filter, and others. Bag filter is the second largest segment in the market. Bag filters are used to filter fluids with a relatively small loading of particles to be removed. The particle suspension passes through, and the particles settle in the bag. The adoption of bag filters is growing in the refinery and petrochemical industry due to their high filtration efficiency, versatility, and cost-effectiveness.
By end user, the refineries segment is expected to be the largest segment during the forecast period
This report segments the refinery and petrochemical filtration market based on end user into two segments: refineries, and petrochemical industry. The refineries segment is expected to be the largest segment during the forecast period. High investments in global refineries have positively impacted the filtration market for refineries. The need for increased refining capacity is driven by growing energy demand and oil and gas supply. Advancements in refining technology have improved efficiency, reduced waste, and improved the yield of refined products. Stricter emissions regulations have driven cleaner technologies and processes, fueling investments in filtration products.
“Asia Pacific”: The fastest in the refinery and petrochemical filtration market”
Asia Pacific is expected to be the fastest market during the forecast period. As nations in this region are undergoing rapid industrialization, there is a greater demand for crude oil and petroleum products, which is enhancing the investment in development of refineries and petrochemical plants, further driving the filtration market in Asia Pacific.
Key Market Players
The market is dominated by a few major players that have a wide regional presence. The major players in the refinery and petrochemical filtration market are 3M (US), Pall Corporation (US), Parker Hannifin Corporation (US), Eaton (Ireland), and Pentair Filtration Solutions, LLC (US). Between 2019 and 2023, strategies such as product launches, contracts, agreements, partnerships, collaborations, alliances, acquisitions, and expansions are followed by these companies to capture a larger share of the market.
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Report Metric |
Details |
Market size available for years |
2021–2028 |
Base year considered |
2022 |
Forecast period |
2023–2028 |
Forecast units |
Value (USD Million/Billion) |
Segments covered |
Refinery and petrochemical filtration market by filter type, application, and end user |
Geographies covered |
Asia Pacific, North America, Europe, South America, and Middle East & Africa. |
Companies covered |
3M (US), Pall Corporation (US), Parker Hannifin Corporation (US), Eaton (Ireland), Pentair Filtration Solutions, LLC (US), Camfil AB (Sweden), W. L. Gore & Associates, Inc. (US), Filtration Group (US), Kel India Filters (India), COMPOSITECH PRODUCTS MANUFACTURING, INC. (US), Porvair Filtration Group (UK), Filtcare Technology Pvt. Ltd. (India), Sungov Engineering (India), Lenntech B.V. (Netherlands), Filson filter (China), Norman Filter Company (US), Filtration Technology Corporation (US), HUADING SEPARATOR (China), BROTHER FILTRATION (China), and Amazon Filters Ltd. (UK). |
This research report categorizes the market by component, power source, application, and region.
On the basis of by filter type, the refinery and petrochemical filtration market has been segmented as follows:
-
Coalescer Filter
- Liquid-liquid
- Liquid-gas
-
Cartridge Filter
- Pleated Cartridge
- Depth Cartridge
- High Flow Cartridge
- Electrostatic Precipitator
- Filter Press
- Bag Filter
- Others
On the basis of application, the market has been segmented as follows:
- Liquid-liquid Separation
- Liquid-gas Separation
- Others
On the basis of end user, the market has been segmented as follows:
- Refineries
- Petrochemical Industry
On the basis of region, the market has been segmented as follows:
- Asia Pacific
- Europe
- North America
- Middle East & Africa
- South America
Recent Developments
- In September 2022, Parker Hannifin Corporation acquired Meggit which helped in the production of high-quality aerospace solutions and add extensive new capabilities to significantly expand their aerospace technology offering to customers.
- In January 2021, Pall Corporation launched a new product with the help of its research and development, named Supralon hydraulic and lube oil filter element that helps to protect and prolong the life of equipment in hydraulic and lube oil applications.
- In August 2021, Eaton launched four products to expand its offerings and strengthen its revenue. They have been focusing on research and development. The latest product, IFPM 73 fluid purifier system helps to efficiently removes free and dissolved water and gases, and particulate contamination down to 3 µm from light transformer oils to heavy lubricating oils for applications including hydroelectric power, pulp and paper, offshore and marine.
- In October 2021, Pentair Filtration Solution, LLC launched a new web application that guides the selection of ideal Pentair X-Flow membrane filtration solution and configuration for water and wastewater treatment applications.
Frequently Asked Questions (FAQ):
What is the current size of the refinery and petrochemical filtration market?
The current market size of the refinery and petrochemical filtration market is USD 4.6 billion in 2023.
What are the major drivers for the refinery and petrochemical filtration market?
Implementation of government mandates and policies for environmental protection and increasing downstream infrastructure investments are the major driving factors for the refinery and petrochemical filtration market.
Which is the largest region during the forecasted period in the refinery and petrochemical filtration market?
North America is expected to dominate the refinery and petrochemical filtration market between 2023–2028, followed by Asia Pacific and Middle East & Africa. Rising energy demand with increased downstream investments are driving the market for this region.
Which is the largest segment, by filter type during the forecasted period in the refinery and petrochemical filtration market?
The coalescer segment is expected to be the largest market during the forecast period owing to their indispensable requirement in separating liquids from liquids and gases in process streams in refineries and petrochemical industries.
Which is the fastest segment, by the end user during the forecasted period in the refinery and petrochemical filtration market?
The petrochemical industry segment is expected to be the fastest growing market during the forecast period due to the massive investment in petrochemical industry infrastructure, in order to cater to the demand for different petrochemicals in various sindustries.
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The study involved major activities in estimating the current size of the refinery and petrochemical filtration market. Exhaustive secondary research was done to collect information on the peer and parent markets. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation were used to estimate the market size of the segments and subsegments.
Secondary Research
This research study on the market involved the use of extensive secondary sources, directories, and databases, such as Hoovers, Bloomberg, Businessweek, Factiva, International Energy Agency, and BP Statistical Review of World Energy, to identify and collect information useful for a technical, market-oriented, and commercial study of the market. The other secondary sources included annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, manufacturer associations, trade directories, and databases.
Primary Research
The refinery and petrochemical filtration market comprises several stakeholders such as refinery and petrochemical filtration manufacturers, manufacturing technology providers, and technical support providers in the supply chain. The demand side of this market is characterized by the rising demand for refinery and petrochemical filtration in liquid-liquid separation, liquid-gas separation, and other applications. The supply side is characterized by rising demand for contracts from the industrial sector, and mergers & acquisitions among big players. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. Following is the breakdown of primary respondents:
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Market Size Estimation
Both top-down and bottom-up approaches were used to estimate and validate the total size of the market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:
- The key players in the industry and market have been identified through extensive secondary research, and their market share in the respective regions have been determined through both primary and secondary research.
- The industry’s value chain and market size, in terms of value, have been determined through primary and secondary research processes.
- All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Refinery and Petrochemical Filtration Market Size: Tow-Down Approach
Data Triangulation
After arriving at the overall market size from the estimation process explained above, the total market has been split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics for all the segments and subsegments, the data triangulation and market breakdown processes have been employed, wherever applicable. The data has been triangulated by studying various factors and trends from both the demand- and supply sides. Along with this, the market has been validated using both the top-down and bottom-up approaches.
Market Definition
A refinery and petrochemical filtration market refers to the specialized filtration systems used in refineries and petrochemical plants. They remove impurities, contaminants, and particles from process streams, ensuring product quality, protecting equipment, and maintaining smooth operations. Various types of filters, such as cartridge, bag, filter press, coalescers, electrostatic precipitators, among others, are employed for this purpose.
The growth of the market can be attributed to the development of downstream sector across major countries in North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Key Stakeholders
- Associations, forums, and alliances related to the market
- Consulting companies in the energy sector
- Government and research organizations
- Refinery owners
- Petrochemical plant owners
- Public and private downstream companies
- State and national regulatory authorities
- Energy Management Companies
- Government & Research Organizations
- OEMs
- Refinery and petrochemical filtration equipment manufacturers
- Support infrastructure equipment providers
- Oil and gas Engineering, procurement, and construction (EPC) companies
Objectives of the Study
- To define, describe, and forecast the refinery and petrochemical filtration market based on filter type, end user, application, and region, in terms of value and volume.
- To describe and forecast the market for various segments with respect to five main regions: North America, Europe, Asia Pacific, South America, and the Middle East & Africa, in terms of value
- To provide detailed information regarding the drivers, restraints, opportunities, and challenges influencing the growth of the market
- To provide a detailed overview of the refinery and petrochemical filtration value chain, along with industry trends, use cases, security standards, and Porter’s five forces analysis
- To strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions to the total market
- To analyze opportunities in the market for various stakeholders by identifying high-growth segments in the market
- To strategically profile key players and comprehensively analyze their market position in terms of ranking and core competencies, along with detailing the competitive landscape of the market.
- To analyze growth strategies adopted by market players such as partnerships, mergers and acquisitions, agreements, and product launches in the market.
Available Customizations:
With the given market data, MarketsandMarkets offers customizations according to the specific requirements of companies. The following customization options are available for the report:
Product Analysis
- Product Matrix, which provides a detailed comparison of the product portfolio of each company
Company Information
- Detailed analyses and profiling of additional market players
Growth opportunities and latent adjacency in Refinery and Petrochemical Filtration Market