Industrial Filter Market Size to worth $6.12 billion by 2031, at a CAGR of 6.5%, says Coherent Market Insights

BURLINGAME, Calif., June 28, 2024 /PRNewswire/ -- The global Industrial Filter Market, valued at $3.94 billion in 2024, is on a trajectory of rapid expansion, with projections indicating it will soar to $6.12 billion by 2031, growing at a compound annual growth rate (CAGR) of 6.5% from 2024 to 2031, as per a recent report by Coherent Market Insights. Increased Demand for Filter Manufacturing Equipment from Growing Manufacturing Industries One of the major drivers fueling the growth of the industrial filter market is the rising demand for filter manufacturing equipment from growing manufacturing industries. With increasing industrialization across regions and rapid expansion of various manufacturing sectors such as oil & gas, chemicals, power generation, metals & mining, food & beverage, and pharmaceuticals, the demand for industrial filters is growing substantially.

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Market Dynamics:

The industrial filter market is driven by the rapid industrialization across developing regions of Asia Pacific and Latin America. Growing manufacturing sector coupled with strict regulations regarding industrial wastewater discharge is propelling the demand for industrial filters. Industrial filters aids in removing solid and liquid impurities from industrial wastewater and flue gases before their final discharge. Additionally, technological advancements in filter media and introduction of filter bags with extended service life is further fueling the market growth.

Industrial Filter Market Report Coverage

Market Trends:

Stringent emission norms for industries is one of the key trends shaping the industrial filter market. Government agencies worldwide are implementing new regulations to curb air and water pollution caused by industries. This is aumenting the replacement demand for upgraded industrial filters compliant with latest emission standards. Moreover, growing preference for eco-friendly and cost-effective filter bags made from membranes, cotton and synthetic fabric instead of traditional filter media such as fiberglass is also gaining traction in the market.

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Liquid filter media segment accounts for around 30% of the total industrial filter market. It is used across various end-use industries like food & beverage, chemical, pharmaceutical, etc. for filtration of liquid solutions. Some of the commonly used liquid filter media include woven monofilament mesh, depth cartridges, bag filters, etc. The demand for liquid filter media is expected to grow steadily over the forecast period owing to stringent regulations regarding wastewater treatment and reuse across countries.

Air filter media segment holds the major share of over 35% in the industrial filter market driven by rising demand from manufacturing industries. It is used for filtration of airborne particles, dust, fumes, etc. in industries. Some of the commonly used air filter media are cartridge filters, dust collectors, dust bags, etc. The air filter media demand is forecast to increase at a higher rate during the forecast period due to stringent air pollution control norms and growth in application industries.

Key Market Takeaways:

The global industrial filter market size was valued at USD 3.94 billion in 2024 and is anticipated to witness a CAGR of 6.5% during the forecast period 2024-2031. Stringent regulations regarding air and water pollution control across countries are driving the market.

On the basis of type, air filter media segment is expected to hold a dominant position owing to wide application in manufacturing industries for particle filtration.

By end-user, food and beverage industry is dominating the market due to usage of industrial filters for liquid and air filtration in various food processing applications.

Regionally, North America is expected to hold a dominant position in the industrial filter market over the forecast period due to stringent regulatory norms around industrial emissions.

Some of the prominent players operating in the industrial filter market include Sefar AG, Lydall Inc., Fibertex Nonwovens A/S, Valmet, Clear Edge Filtration Group, Nordic Air Filtration, etc. Strategic collaborations and new product launches are some of the key strategies adopted by major players to gain competitive edge in the market.

Recent Developments:

In October 2020, Valmet announced an investment in a filter fabric manufacturing plant in India to meet the growing demand from customers and improve delivery times of filter fabrics to the Asia-Pacific and Middle East areas.

In January 2020, Ahlstrom-Munksjö announced the expansion of a manufacturing platform for high-performance filtration and energy storage applications at the Malmedy Plant, Belgium. The plant consists a significant expansion of its micro-glass capacity and further growth in industrial filtration capacity in Italy.

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Market Segmentation

By Product Type:

• Liquid Filter Media
• Non-woven Fabrics
• Mesh
• Woven Fabrics
• Air Filter Media
• Non-woven Fabrics
• Fiberglass
• Activated Carbon
• Others

By End-User:

• Food and Beverage
• Chemical
• Power Generation
• Metal and Mining
• Pharmaceutical
• Others

By Regional:

North America:

• U.S.
• Canada

Latin America:

• Brazil
• Argentina
• Mexico
• Rest of Latin America

Europe:

• Germany
• U.K.
• Spain
• France
• Italy
• Russia
• Rest of Europe

Asia Pacific:

• China
• India
• Japan
• Australia
• South Korea
• ASEAN
• Rest of Asia Pacific

Middle East:

• GCC Countries
• Israel
• Rest of Middle East

Africa:

• South Africa
• North Africa
• Central Africa

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Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

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