BURLINGAME, Calif., June 28,
2024 /PRNewswire/ -- The global Industrial
Filter Market, valued at $3.94
billion in 2024, is on a trajectory of rapid expansion, with
projections indicating it will soar to $6.12
billion by 2031, growing at a compound annual growth rate
(CAGR) of 6.5% from 2024 to 2031, as per a recent report by
Coherent Market Insights. Increased Demand for Filter Manufacturing
Equipment from Growing Manufacturing Industries One of the major
drivers fueling the growth of the industrial filter market is the
rising demand for filter manufacturing equipment from growing
manufacturing industries. With increasing industrialization across
regions and rapid expansion of various manufacturing sectors such
as oil & gas, chemicals, power generation, metals & mining,
food & beverage, and pharmaceuticals, the demand for industrial
filters is growing substantially.
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Market Dynamics:
The industrial filter market is driven by the rapid
industrialization across developing regions of Asia Pacific and Latin America. Growing manufacturing sector
coupled with strict regulations regarding industrial wastewater
discharge is propelling the demand for industrial filters.
Industrial filters aids in removing solid and liquid impurities
from industrial wastewater and flue gases before their final
discharge. Additionally, technological advancements in filter media
and introduction of filter bags with extended service life is
further fueling the market growth.
Industrial Filter Market Report Coverage
Report
Coverage
|
Details
|
Market Revenue in
2024
|
$3.94 billion
|
Estimated Value by
2031
|
$6.12 billion
|
Growth
Rate
|
Poised to grow at a
CAGR of 6.5%
|
Historical
Data
|
2019–2023
|
Forecast
Period
|
2024–2031
|
Forecast
Units
|
Value (USD
Million/Billion)
|
Report
Coverage
|
Revenue Forecast,
Competitive Landscape, Growth Factors, and Trends
|
Segments
Covered
|
By Product Type, By End
User
|
Geographies
Covered
|
North America, Europe,
Asia Pacific, and Rest of World
|
Growth
Drivers
|
- Environmental
regulations
- Process
efficiencies
|
Restraints &
Challenges
|
- Environmental
regulations
- Process
efficiencies
|
Market Trends:
Stringent emission norms for industries is one of the key trends
shaping the industrial filter market. Government agencies worldwide
are implementing new regulations to curb air and water pollution
caused by industries. This is aumenting the replacement demand for
upgraded industrial filters compliant with latest emission
standards. Moreover, growing preference for eco-friendly and
cost-effective filter bags made from membranes, cotton and
synthetic fabric instead of traditional filter media such as
fiberglass is also gaining traction in the market.
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Liquid filter media segment accounts for around 30% of the total
industrial filter market. It is used across various end-use
industries like food & beverage, chemical, pharmaceutical, etc.
for filtration of liquid solutions. Some of the commonly used
liquid filter media include woven monofilament mesh, depth
cartridges, bag filters, etc. The demand for liquid filter media is
expected to grow steadily over the forecast period owing to
stringent regulations regarding wastewater treatment and reuse
across countries.
Air filter media segment holds the major share of over 35% in
the industrial filter market driven by rising demand from
manufacturing industries. It is used for filtration of airborne
particles, dust, fumes, etc. in industries. Some of the commonly
used air filter media are cartridge filters, dust collectors, dust
bags, etc. The air filter media demand is forecast to increase at a
higher rate during the forecast period due to stringent air
pollution control norms and growth in application industries.
Key Market Takeaways:
The global industrial filter market size was valued at
USD 3.94 billion in 2024 and is
anticipated to witness a CAGR of 6.5% during the forecast period
2024-2031. Stringent regulations regarding air and water pollution
control across countries are driving the market.
On the basis of type, air filter media segment is expected to
hold a dominant position owing to wide application in manufacturing
industries for particle filtration.
By end-user, food and beverage industry is dominating the market
due to usage of industrial filters for liquid and air filtration in
various food processing applications.
Regionally, North America is
expected to hold a dominant position in the industrial filter
market over the forecast period due to stringent regulatory norms
around industrial emissions.
Some of the prominent players operating in the industrial filter
market include Sefar AG, Lydall Inc., Fibertex Nonwovens A/S,
Valmet, Clear Edge Filtration Group, Nordic Air Filtration, etc.
Strategic collaborations and new product launches are some of the
key strategies adopted by major players to gain competitive edge in
the market.
Recent Developments:
In October 2020, Valmet announced
an investment in a filter fabric manufacturing plant in
India to meet the growing demand
from customers and improve delivery times of filter fabrics to the
Asia-Pacific and Middle East areas.
In January 2020, Ahlstrom-Munksjö
announced the expansion of a manufacturing platform for
high-performance filtration and energy storage applications at the
Malmedy Plant, Belgium. The plant
consists a significant expansion of its micro-glass capacity and
further growth in industrial filtration capacity in Italy.
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Market Segmentation
By Product Type:
- Liquid Filter Media
-
- Non-woven Fabrics
- Mesh
- Woven Fabrics
- Air Filter Media
-
- Non-woven Fabrics
- Fiberglass
- Activated Carbon
- Others
By End-User:
- Food and Beverage
- Chemical
- Power Generation
- Metal and Mining
- Pharmaceutical
- Others
By Regional:
North America:
Latin America:
- Brazil
- Argentina
- Mexico
- Rest of Latin America
Europe:
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
Asia Pacific:
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
Middle East:
- GCC Countries
- Israel
- Rest of Middle East
Africa:
- South Africa
- North Africa
- Central Africa
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