LONDON, April 13, 2023 (GLOBE NEWSWIRE) -- The Business Research Company’s research on the industrial filters market identifies rapid industrialization and urbanisation to propel the industrial filter market growth forward. During operations, industrial filters are used to filter or separate industrial oils, gases, and lubricants. Rapid industrialization and urbanisation, as well as rising population in developing countries, are driving up demand for consumer goods. As a result, the level of industrial development in those countries is increasing, as is the demand for filtration products. According to the World Bank, a US-based international financial institution, the total global urban population will reach 57% in 2021, up from 55% and 56% in 2019 and 2020, respectively. As a result, rapid urbanisation and industrialization are propelling the industrial filter market forward.
The global industrial filters market is expected to grow from $3.05 billion in 2022 to $3.22 billion in 2023 at a compound annual growth rate (CAGR) of more than 5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The industrial filtration market size is expected to grow to $3.9 billion in 2027 at a CAGR of more than 5%.
Major industrial filters manufacturers are Valmet Technologies And Services Private Limited, 3M Company, Ahlstrom Corporation, LYDALL PERFORMANCE MATERIALS INDIA LLP, Nordic Air Filtration, Sandler AG, Sefar AG, Valmet Corporation, Fibertex Nonwovens A/S.
As per the industrial filters market analysis, technological advancement is gaining traction among the industrial filter market trends. Major players in the industrial filter market are focusing on developing new technological solutions to strengthen their market position. For example, Donaldson Company, Inc., a US-based manufacturer of filtration systems and parts, recently introduced the Torit Rugged Pleat (RP) baghouse, an industrial dust collector, in October 2020. The collector was designed to collect heavy, abrasive dust generated by mining, timber, grain and other industries. The use of Ultra-Web Spunbond filters reduces filter change-out times by 72%. Worked 44% better than other fillers.
Asia-Pacific was the largest region in the industrial filters market in 2022. The regions covered in the industrial filters market research are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The global industrial filters market is segmented by type into liquid filtration, air filtration; by filter media into activated carbon/charcoal, fiber glass, filter paper, metal, non-woven fabric, other filter media; by industry into food and beverage, chemicals & petrochemicals, power generation, oil and gas, pharmaceuticals, metal and mining, automotive, other industry.
Industrial Filters Global Market Report 2023 by The Business Research Company provides insights on the industrial filters market size, industrial filters market segments, industrial filters market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
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