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Market Overview
The global industrial filtration market size was valued at USD 28,580.5 Million in 2022 and is expected to reach USD 44,504.1 billion by 2030, growing at a compound annual growth rate (CAGR) of 5.8% from 2023 to 2030.
Industrial filtration is the process of removing contaminants from fluids and gases. It is used in a wide range of industries, including chemicals and petrochemicals, food and beverage, pharmaceuticals, power generation, and water and wastewater treatment.
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Different manufacturing and processing businesses require several procedures that the product must go through. Large quantities of trash, gases, and contaminants, both in dry and liquid forms, are produced during the product’s production and released from industries. These toxins have a negative impact on the area into which they are released and provide a risk of injury to the workers in the organization. As a result, several nations have put forward environmental and regulatory standards for the quantity of trash emitted and the requirements for its treatment that enterprises must adhere to. Industrial filtration reduces the negative effects of these pollutants, particularly in the mining, food and beverage, and pharmaceutical sectors.
The millennial generation is becoming increasingly concerned with their health and wellbeing. A Thompson Reuters survey found that, given the opportunity, roughly 58% of consumers would choose organic food over conventional goods. This aspect in the food processing sector has prompted introducing organic raw materials into manufactured food items. Purity and low residual content are required for the content of these food items, which are obtained by minimal processing, such as these filtering techniques to lower contaminant content. Additionally, these food product producers must adhere to laws governing their effluent treatment, which expands the market’s growth prospects.
Key Players:
Market segmentation
The Industrial Filtration Market is divided into different segments.
The Industrial Filtration Market is divided into two types: liquid filtration and air & gas filtration. Government and industry initiatives to address air pollution have boosted the air & gas filtration market. Numerous businesses, including metals and mining, chemicals, healthcare, and food and beverage, need to treat their air outputs to lessen the emission of dangerous gases and fumes. This is anticipated to propel the air & gas filtration segment’s expansion.
The market is divided into segments for activated carbon, fiberglass, nonwovens, metals, filter paper, combination filters, and others regarding filter media. Because it is simple to renew activated carbon in-situ by applying heat and chemical treatment, it is appealing for use in applications requiring continuous filtering.
Food & beverage, power generation, semiconductors & electronics, chemicals & petrochemicals, metals & mining, paper & paints, and others are the application-based divisions of this industry. Due to the growing need for high-purity raw materials in both liquid and gaseous forms, the healthcare sector is anticipated to occupy the greatest share of the market.
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Regional analysis
Investments in the newest filtration technologies and laws governments implement in various nations fuel competitiveness in the worldwide industrial filtration industry. Players use product launches, acquisitions, and research and development methods to stay afloat in the market. Players may have a great opportunity to increase their presence in underdeveloped nations by replacing outdated filters.
Recent developments
In March 2020, Danaher International purchased the Life Science portion of GE’s Biopharma business. Cytiva is the new name for this division. In addition to assisting with biopharmaceutical pharmaceuticals’ research, discovery, process development, and manufacturing workflow, it is a top vendor of instruments, consumables, and other software. Such international market acquisitions are anticipated to boost revenues and present prospects for developing the company’s Life Sciences division.
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