The size of the industrial filtration market will power at a compound annual growth rate of 7.5% during 2022-2030, to touch a value of USD 55,673.2 million by 2030.
This growth of the industry is due to advancements in filtration technologies, surging need for safe working environment at industrial sites, strict government regulations regarding emission control and growing requirement for equipment dependability and lifespan extension.
Further, the continuous development of new products for industrial filtration and the growing food & beverage, metal & mining, and automotive industries are driving the expansion of the industry.
Several industrial air filtering laws have been implemented as a result of the increase in industrial facilities. For instance, a federal law in the U.S., named The Clean Air Act, aims to reduce air pollution on a massive scale.
The non-woven fabric category reported the largest revenue share of around 35%, it is further projected to maintain its dominance during 2022– 2030. This is because non-woven fabrics are chosen by the pharmaceutical industry due to their low weight, reusability, durability, water resistance, and fire resistance.
Further, they are widely used in the mineral processing industry owing to their intricate fiber arrangements, quick and inexpensive manufacturing and many design options provide by the adaptability of the structure.
The chemicals & petrochemicals category accounted for the largest revenue share. This is due to the manufacturing processes employed in this sector yield a variety of pollutants, which react with the equipment.
Further, these chemical contaminants are a risk to the environment and employees, as well as carrying the possibility of cross contamination with other materials, reducing the quality of the product.
The digitalization of filtration equipment is a good growth opportunity as it continuously observes industrial filters. Sensors are installed in these filters which continuously maps the cleaners’ load status and afterwards give service-related data to the plant operator. This helps in preventing machine downtime.
The liquid category accounted for the larger revenue share, over 60%. This is due to the strict environmental laws that prohibit pollutants from getting into water sources. The high cost of wastewater treatment facilities and the rising demand for clean water are the main factors fuelling the category growth.
The filter press category will witness the fastest growth during the forecast period, with a CAGR of over 7%. This will be due to the fact that filter presses are broadly used in the food & beverage, metals & mining, pharmaceuticals, power generation, and industrial manufacturing sectors to collect undesired solid particles.
North America accounted for the largest revenue share, of 45% in the industrial filtration market. This is owing to the rising environmental concerns, surging need for workplace safety in the industrial sector, government mandates to control emissions, and increasing R&D activities to provide cost-efficient solutions to owners of industrial facilities.
Overall, with new technologies in filters, surging need for safe working environments and governments regulations, market for industrial filters will witness robust growth in near future.
