The Liquid Filtration Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Liquid Filtration Global Market Report 2024, The liquid filtration market size has grown strongly in recent years. It will grow from $3.3 billion in 2023 to $3.53 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to industrial growth, stringent environmental regulations, water scarcity concerns, health and safety standards, pharmaceutical manufacturing needs, oil and gas exploration..
The liquid filtration market size is expected to see strong growth in the next few years. It will grow to $4.66 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to increasing awareness of filtration benefits, waste management, rising population and urbanization, renewable energy development, rapid industrialization in emerging markets, focus on clean energy, circular economy initiatives.. Major trends in the forecast period include technological advancements, customization and specialization, adoption of iot and automation, increasing demand for membrane filtration, globalization and market expansion, focus on energy efficiency..
The rising urbanization and industrialization are expected to propel the growth of the liquid filtration market going forward. Urbanization refers to the growth of the cities and an increase in the population of people that live in cities, whereas industrialization refers to the process, by which an economy is changed to one based on the manufacturing of goods from a primarily agricultural one. Liquid filtration helps by providing better drinking and sewage water facilities to fulfil the need of rising urbanization and industrialization. For this purpose, liquid filtration is used which drives the liquid filtration forward. For instance, in 2021, according to the United Nations Conference on Trade and Development, 56.5% of the world’s population resided in urban regions, and it is projected to rise to 68% by 2050. Additionally, in 2022, according to Trading Economics, a US-based site that provides its users with accurate information, following a downwardly corrected 0.1% rise in March, industrial production in the United States climbed by 0.2% annually in April 2023. As a result, the growing urbanization and industrialization are driving the growth of the liquid filtration market.
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The liquid filtration market covered in this report is segmented –
1) By Filter Media: Woven, Nonwoven, Mesh
2) By Fabric Material Type: Cotton, Polymer, Wool, Linen, Glass Fiber, Metals, Rayon, Other Materials
3) By End-User: Municipal Treatment, Industrial Treatment
Technological advancements are a key trend gaining popularity in the liquid filtration market. Major companies operating in the liquid filtration market are introducing new technologies to sustain the market. For instance, in April 2023, Amazon Filters, a UK-based company that specializes in the design and manufacture of filtration systems, launched a mechanical safety interlock for its key process industry housings. It is designed for users in various sectors such as chemical, water, pharmaceuticals, food and beverage, OEM, and oil and gas. The interlock is a safety feature designed to prevent operators from opening the filtration housing while it is still under pressure. This is crucial for preventing potential health and safety hazards, including exposure to substances and liquids being released violently. Enhanced safety measures are essential in industries where pressurized filtration systems are commonly used.
The liquid filtration market report table of contents includes:
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