Industrial Filtration Market Size, Share & Industry Analysis, By Type (Air & Gas Filtration, and Liquid Filtration), By Filter Media (Activated Carbon, Fiberglass, Nonwovens, Metals, Filterpaper, and Combination Filters), By Application (Food & Beverage, Power Generation, Semiconductors & Electronics, Chemicals & Petrochemicals, Healthcare, Metals & Mining, Paper & Paints), and Regional Forecast, 2024-2032

The global industrial filtration market size was valued at USD 34.79 Billion in 2018 and is projected to reach USD 48.52 Billion by 2026, exhibiting a CAGR of 4.3% during the forecast period. North America dominated the industrial filtration market with a market share of 46.8% in 2018. Moreover, the industrial filtration market size in the U.S. is projected to grow significantly, reaching an estimated value of USD 18.85 billion by 2032, driven by increasing investments in manufacturing facilities and rising stringent pollution control norms in the U.S.

Filtration is a critical separation technique employed in many industries such as chemicals & petrochemicals, metals & mining, and pharmaceuticals wherein impurities in air and fluids are removed by adding a barrier layer between the airflow or fluid flow. As the global population grows, along with significant urbanization, the need for clean energy, pure water, safe food supplies, and advanced medical services for all mankind is increasing. This is projected to promote market growth. Furthermore, the demand for technologically advanced devices and energy to power them is also going to increase in the future. The supply of utilities has been strained to meet the demand from a host of industries. As an enabling technology to these industries, the market stakeholders are continually improving their existing products and investing in research of the latest media to meet the needs of increased capacity and improved filtration performance.

INDUSTRIAL FILTRATION MARKET TRENDS

Specialization in Filtration Media to meet Environmental Regulations

Every industrial filtration system consists of a filtration medium designed using materials such as metals, minerals, plastic polymers, ceramics, paper, and fibers. However, the industrial filtration media consisted of disposable materials for a prolonged period, which possessed a threat to the environment by taking a long time to degrade. Thus, usage of reusable and recyclable filters made up of materials such as walnut shells, activated carbon, and nonwovens have gained popularity in the recent past. The ability to be cleaned in-situ and extension of filter life with higher contamination-holding capacity are some key factors helping the market gain momentum in the coming years. Additionally, the rise in focus on meeting the regulations imposed by governments regarding reducing industrial waste will help bolster growth.

INDUSTRIAL FILTRATION MARKET GROWTH FACTORS

Advances in Healthcare Industry Creating Demand for Sophisticated Industrial Filtration Systems

Transformative advances in the pharmaceuticals & life sciences industry have led to the extension of human life expectancy along with the provision of a healthy and productive lifestyle. As a result sectors such as diagnostic and medicine research, which utilizes these filtration technologies have increasingly utilized these filtration technologies such as microfiltration, and ultrafiltration rather than chemical technologies to keep products safe and pure. Thus, the growth of the healthcare industry is expected to drive the growth of the market.         

Increasing Popularity of Organic and Healthy Food Products Imbibing Growth to the Industrial Filtration Market

The millennial generation has increasingly been concerned about its health and wellness. According to a Thompson Reuters poll, about 58% of consumers prefer organic food over conventional products if offered a choice. This factor has propelled food processing industries to introduce organic raw materials into their manufactured food products. The content of such food products requires purity with low residual content, which is achieved through under processing including these filtration processes to reduce contaminant content. Furthermore, such food product manufacturers also have to meet regulations regarding their effluent treatment, which further creates growth prospects for the market.

RESTRAINING FACTORS

High Usage of Energy during Industrial Filtration Process Impeding Market Growth

A critical challenge affecting the growth of the market is the substantial usage of energy during the industrial filtration process. Processes such as ultrafiltration, and centrifugal filtration account for a significant amount of energy used in the processing industry. With the rising cost of energy across the globe, this factor critically affects the profit potential of the manufacturers thus, creating opportunities for other treatment processes over filtration processes. This is anticipated to decrease the growth potential of the market.

INDUSTRIAL FILTRATION MARKET SEGMENTATION ANALYSIS

By Type Analysis

Air & Gas Filtration to Gain Impetus during the Forecast Period

Based on type, the market of industrial filtration is classified into air & gas filtration, and liquid filtration. Steps taken by governments and industries alike to cater to air pollution have added impetus to the air & gas filtration segment. Furthermore, many industries such as metals & mining, chemicals, healthcare, and food & beverage require to treat their air outlets to reduce the emission of harmful gases and fumes in the environment. This is expected to fuel the growth of the air & gas filtration segment.

On the other hand, the liquid filtration segment is expected to account for a larger share during the forecast period. Almost every industry has to treat the wastewater, including processing water, which has led to the lead of the liquid filtration segment.

By Filter Media Analysis

Activated Carbon Media Segment to have Significant Growth

In terms of filter media, the market is segmented into activated carbon, fiberglass, nonwovens, metals, filter-paper, and combination filters & others. Activated carbon can easily be regenerated in-situ by the provision of heat and chemical treatment, which makes it attractive for usage wherein continuous filtration operation is to be carried out. With an increasing focus on using reusable media, the activated carbon segment is expected to gain a significant share in the market.

Moreover, combination filters and other filter media will account for a major share in the market. Many filter media are not individually capable of treating all the contaminants present in effluents, and this created a demand for combination filters. Furthermore, many novel renewable media such as nutshells and plant fibers have gained impetus to meet the demand for materials which do not harm the environment, thus, leading to the growth of combination filters & others segment.

By Application Analysis

Healthcare Segment to Account for Significant Share in the Industrial Filtration Market

Based on application, this market is segmented into food & beverage, power generation, semiconductors & electronics, chemicals & petrochemicals, metals & mining, paper & paints, and others. The healthcare segment is expected to hold the largest share in the market on account of the increasing requirement for high purity raw material, both in liquid and gaseous forms. Furthermore, with the occurrence of the recent pandemic of Covid-19, the focus on healthcare is projected to gain a considerable boost during the forecast period, thus, driving the growth of this healthcare segment.

On the other hand, the food & beverage segment is set to gain significant market share in the forecast period with an increasing global population and demand for healthy and safe food products.

REGIONAL INDUSTRIAL FILTRATION MARKET ANALYSIS

The industrial filtration market size in North America stood at USD 16.28 Billion in 2018. This is owing to significant investments by industries in the region to meet the regulations imposed by agencies such as EPA and WHO. Furthermore, flourishing healthcare and power generation industries supports the growth of the market in the region. Rapid digitalization across the globe has increased the demand for semiconductors and microelectronics across the globe. Asia Pacific is the hub for the electronics industry and thus, have a significant share in the market. On the other hand, the market in Europe will be characterized by growing pharmaceutical and food & beverage industries in the region.

The market in Latin America and the Middle East & Africa, on the other side, is its nascent stage and will witness stable growth during the forecast period. The rising shift of manufacturing industries from developed regions to developing regions shall create attractive opportunities for the market players in the coming years. This will further provide these industries with novel and specialized filtration products.

KEY INDUSTRY PLAYERS

Key Market Players Aiming for Market Share with Acquisition and Mergers of Smaller Companies to Maintain Their Authority in the Industrial Filtration Market

The competitive landscape of this market is a semi-consolidated with the top 10 companies accounting for more than 50% market share. Key players have invested a considerable amount of resources in research and development of several industrial filtration systems. Diversified media and technology portfolio, supported by superior operational and customer service efficiency are the strategies used by the market leaders for their growth.

Furthermore, key players of this market have adopted strategies such as mergers and acquisitions with smaller enterprises to improve their offering portfolio and related services. This trend is projected to positively impact the global market during the forecast period.

LIST OF KEY COMPANIES PROFILED IN INDUSTRIAL FILTRATION MARKET:

• Pall Corporation


• Mott Corporation


• Aqseptance Group


• Universal Filtration


• Alfa Laval Inc.


• Donaldson Company, Inc.


• Freudenberg Filtration Technologies SE & Co. KG


• Mann + Hummel


• Parker Hannifin Corp.


• Filtration Group


• Markel Corporation


• Lydall, Inc.


• Graver Technologies


• Ahlstrom-Munjskö


• Dorstener Wire Tech


• American Air Filter Company, Inc.


• 3M


• Hollingsworth & Vose Company


• Other Key Players

KEY INDUSTRY DEVELOPMENTS:

• August 2019 – Mann + Hummel announced the acquisition of Hardy Filtration, a Canada-based air filtration company. The acquisition will help Mann Hummer expand the global footprint and manufacturing capacity of its subsidiary, Tri-Dim Filter Corporation.


• December 2018 – Donaldson Company, Inc. started the expansion of its production facility in Wuxi, China. This expansion will add additional production capacity with the site covering a total area of 60,000 sq.m. The expansion is with the view to support the growth in Asia Pacific by expanding air filter manufacturing capacity and adding the company’s first Chinese-based liquid filtration manufacturing capability to the region.

REPORT COVERAGE

The industrial filtration market report provides a detailed analysis of the market and focuses on key aspects such as leading companies, media types, and leading applications of the filtration systems. Besides this, the report offers insights into the market, current trends, and highlights major industry developments. In addition to the aforementioned factors, the report encompasses several factors that have contributed to the growth of the market over recent years.

Report Scope & Segmentation