Views: 10 Author: Site Editor Publish Time: 2022-03-29 Origin: Site
The report, "Industrial Filtration Market by Type (Air & Liquid), Technology, Product, Filtration Media, Industry (Manufacturing, Power Generation, Metals & Mining, Oil & Gas, Pharmaceutical & Process Industries), and Region - Global Forecast to 2023," projects the industrial filtration market to grow from USD 25.89 billion in 2018 in 2018 to USD 35.47 billion by 2023, growing at a CAGR of 6.50% during the forecast period. This growth is mainly attributed to the growing industrialization and urbanization, stringent regulations for industrial waste discharge and disposal, and the requirement for safe working environment in industrial facilities.
The manufacturing sector dominated the industrial filtration market in 2017. This segment includes machinery and equipment, chemical, electrical and electronics (including semiconductor), and pulp and paper industries. Industrial filtration is becoming increasingly important in all end-use markets due to stringent environmental regulations and implementation of cleaner processes and technologies. In addition, the manufacturing market will be driven by the Asia-Pacific region, especially the growing manufacturing hubs in Southeast Asian countries, as well as China, which is already a world leader in manufacturing.
Nonwoven fabrics for filtration media used in industrial filtration are expected to grow at the highest CAGR from 2018 to 2023. These nonwoven filter bags are made of nonwoven polypropylene (PP) fabrics that are durable, reusable, water-resistant, allergy-resistant, fire-resistant, soft, lightweight, and sometimes washable. These bags are used in a variety of end-user industries, such as pharmaceutical and mineral processing.
In this report, the industrial filtration market has been analyzed for 5 regions, namely, North America, Europe, Asia Pacific, South America, and the Middle East and Africa. Asia Pacific is expected to hold the largest market share of the global industrial filtration market in 2017. Emission regulations and the demand for clean indoor air facilities are among the major factors driving the growth of this market. The growth of industries such as manufacturing, power generation, oil & gas, and food & beverage is having a significant impact on the economic development of the countries in the region.
China accounted for the largest share of the industrial filtration market in Asia Pacific in 2017. Power generation is one of the major end-user industries for industrial filtration and is a key element. Filtration is carried out in power plants to filter boiler feed water, to prevent fly ash from being discharged from coal chimneys or other solid fuel sources, or to maintain the performance of turbines. In addition, there are strict regulations for emissions for which filtration plays a vital role.
Almost all countries in the region are investing in their manufacturing, power generation, process industries, and pharmaceutical industries to drive their economic growth, which is likely to drive the growth of the industrial filtration market in Asia Pacific. There are stringent regulations for emissions, where filtration plays a vital role. Almost all countries in the region are investing in their manufacturing, power generation, process industries, and pharmaceutical industries to drive their economic growth, which is likely to drive the growth of the industrial filtration market in Asia Pacific. There are stringent regulations for emissions, where filtration plays a vital role. Almost all the countries in the region are investing in their manufacturing, power generation, process industries, and pharmaceutical industries to drive their economic growth, which is likely to drive the growth of the industrial filtration market in Asia Pacific.
