Industrial Filtration Market

Market Leader - Industrial Filtration Market

The global industrial filtration market is projected to reach a market size of USD 35.47 Billion by 2023, growing at a CAGR of 6.50%. The growth of this market is driven by the growing industrialization and urbanization, stringent regulations pertaining to emissions and treatment of industrial waste, and requirement of safe working environment in industrial facilities.

Asia Pacific is estimated to be the largest industrial filtration market during the forecast period. Emission regulations accompanied with the need for clean indoor air facilities is one of the major factors that drive this market. The growth in manufacturing, power generation, oil & gas, and food & beverage industries has a great influence in the economic development of the countries in the region. Government initiatives such as Industry 4.0 and Internet Plus are attracting heavy investments toward the manufacturing sector. China accounted for the largest share of the industrial filtration market in Asia Pacific in 2017 and is expected to see an 8.5% year-on-year growth in software spending to undergo waves of automation and digitalization for accomplishing its “Made in China 2025” initiative. India is also expected to grow at the fastest pace. The “Make in India” campaign is expected to boost the growth of the manufacturing sector in the country by leading the supply chain management, which is expected to grow at a 14% CAGR, during 2015–2019. Thus, all the efforts taken by the countries to advance their economic growth are likely to contribute to the industrial filtration market as countries are obliged to abide by the stringent government norms for emission control.

The report segments the industrial filtration market, by type, into liquid filtration and air filtration. Air filtration is expected to grow at the highest CAGR during the forecast period. This segment is driven because of strict government regulations to curb air pollution. The air and liquid filtration is further classified on the basis of technology and products. The gas phase by air technology and electrostatic precipitators by air filtration products are expected to grow at the highest CAGR during the forecast period. Furthermore, pressure filtration by liquid technology and bag filter in liquid filtration products are expected to grow at the highest CAGR during the forecast period.

The industrial filtration market, by filter media, is segmented into metal, activated carbon/charcoal, fiber glass, filter paper, and nonwoven fabric. The nonwoven fabric filter media is expected to grow at the highest CAGR during the forecast period. These nonwoven fabric filter bags are made from nonwoven Polypropylene (PP) fabric. Nonwoven filter bags are durable, reusable, water-resistant, hypoallergenic, fire-resistant, soft, light, and sometimes washable. It is used in various end-user industries, such as pharmaceuticals and mineral processing.

The industrial filtration market, by industry, is segmented into manufacturing, power generation, oil & gas, pharmaceuticals, metals & mining, and process industry. Pharmaceuticals is expected to grow at the highest CAGR during the forecast period. This industry uses filtration for removal of suspended particles and to reduce bacteria in process components. Filtration helps in protecting process solutions from contamination when stored in tanks.

Related Reports:

Industrial Filtration Market by Type (Air and Liquid), Technology, Product, Filter Media, Industry (Manufacturing, Power Generation, Metals & Mining, Oil & Gas, Pharmaceuticals, and Process Industry), and Region - Global Forecast to 2023

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Report Code
EP 4471
RI Published ON
4/27/2018
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