The liquid filtration market is projected to grow from USD 1.80 billion in 2018 to USD 2.54 billion by 2023, at a CAGR of 6.0%
LONDON, Oct. 24, 2018 /PRNewswire/ -- The liquid filtration market is projected to register a CAGR of 6.0%, from 2018 to 2023, in terms of value.
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The liquid filtration market is projected to grow from USD 1.80 billion in 2018 to USD 2.54 billion by 2023, at a CAGR of 6.0%. Growth in industrial development has led to the increase in urbanization, globally. This increase has prompted the growth in demand for industrial filters due to the upsurge in the air, liquid, and soil pollution. The use of liquid filtration in municipal water treatment, industrial water treatment, and industrial process applications drives the market. Emerging as well as developed countries are major business markets for liquid filtration.
Meltblown to be the fastest-growing filter media segment of the liquid filtration market, during the forecast period.
Meltblown fabrics are formed by extruding melted polymer fibers through a die, which consists of up to 40 holes per inch to form long fibers.These fibers are then stretched and cooled by passing hot air over them and deposited in rolls which are then further processed as per the requirement of the end user.
These fabrics are largely used in filtration activities owing to properties such as smooth texture, large surface area, and adequate strength. Their use in industries such as food & beverage, chemical, and mining also drives the market.
Municipal to be the fastest-growing end user segment for the liquid filtration market, during the forecast period.
In the municipal sector, water filters are used for primary and secondary treatment.Primary treatment includes pumping & containment, screening, storage, pre-conditioning, and pre-chlorination.
Filters are mainly used in the screening phase of primary treatment. In the secondary treatment phase, filtration is carried out to remove the suspended particles and flocs from water, which still remain after the flocculation process.
APAC liquid filtration market is projected to register the highest CAGR during the forecast period.
Rising population, growing industrialization, and environmental regulations are the main factors for the growth of the liquid filtration market in the region.China is the largest market for liquid filtration in APAC.
It is also a major producer and consumer of liquid filtration in the region, as it has a huge manufacturing base. However, the ongoing industrial activities in India and Southeast Asian countries are expected to drive the demand for liquid filtration in these countries during the forecast period.
The market sizes estimated in this study have been validated through primary interviews conducted with various industry experts, globally. These primary sources have been divided into three categories:
-- By Company Type: Tier I - 25%, Tier II - 50%, and Tier III - 25%
-- By Designation: C Level - 20%, Director Level - 30%, and Others - 50%
-- By Region: North America - 20%, Europe - 30%, APAC - 25%, South America - 15%, and the Middle East& Africa - 10%
The report profiles several leading players in the liquid filtration market that include Valmet (Finland), Clear Edge Filtration (US), Eaton Corporation (US), Lydall (US), Sefar AG (Switzerland), Sandler AG (Germany), GKD (Germany), Freudenberg Filtration Technologies (Germany), Fibertex Nonwoven (Denmark), and American Filter Fabrics (US). It also includes detailed information about various growth strategies adopted by these key players to strengthen their position in the market.
RESEARCH COVERAGE
The objective of this study is to define, describe, and forecast the liquid filtration market based on various segmentations and strategically analyze these market segments with respect to individual growth trends, growth prospects, and contribution to the overall liquid filtration market. In this report, the market has been segmented based on fabric material, filter media, end user, and region.
REASONS TO BUY THE REPORT
The report is expected to help market leaders/new entrants in the liquid filtration market in the following ways:
1. This report comprehensively segments the liquid filtration market and provides the closest approximations for the sizes of different segments and subsegments of the market across different verticals and regions.
2. This report is expected to help stakeholders in obtaining an improved understanding of their competitors and gain insights about their businesses. The competitive landscape section includes detailed information about new product launches, acquisitions, and expansions that have been undertaken by various key players to enhance their position in the liquid filtration market.
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