According to the new market research report "Liquid Filtration Market by Fabric Material (Polymer, Cotton, Aramid), Filter Media (Woven, Nonwoven), End User (Municipal, Food & Beverage, Mining), and Region (North America, Europe, APAC, South America) - Global Forecast to 2023", published by MarketsandMarkets™, the Liquid Filtration Market is projected to grow from USD 1.90 billion in 2018 to USD 2.54 billion by 2023, at a CAGR of 6.0% Growing industrialization and urbanization coupled with stringent regulation with regard to emission and treatment of industrial and municipal waste are the major drivers of the Liquid Filtration Market. However, slow industrial growth in China and increasing demand for renewable energy source hinder the market growth.
The woven segment is projected to lead the Liquid Filtration Market, during the forecast period
On the basis of filter media, the woven segment is projected to lead the Liquid Filtration Market during the forecast period. The demand for woven filtration fabrics is highest due to its technological advancement and cost-effectiveness. The increasing demand for multifilament woven fabrics, owing to their high strength and versatile usage, is the key factor attributed to the market growth.
Industrial segment to lead the Liquid Filtration Market, during the forecast period
On the basis of end users, the industrial segment is projected to lead the Liquid Filtration Market, during the forecast period. Food & beverage, mining, and chemical are the leading end of liquid filtration. Stringent disinfection and purification stipulations require advanced technology to be used in this industry, which in turn fuels the growth of the Liquid Filtration Market. Appropriate filtration and purification techniques ensure high reusability rate for water, achieving zero liquid discharge (ZLD), production of high-quality final products, reduction in production costs, and efficient management of wastewater.
APAC Liquid Filtration Marketis projected to register the highest CAGR, between 2018 and 2023
The Liquid Filtration Market in APAC has immense growth potential. The growing population, increasing industrialization, and environmental regulations are the key factors attributed to the growth of the Liquid Filtration Market in the region. China is the largest market for liquid filtration in APAC. It is also a significant 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.
Some of the key players in the Liquid Filtration Market are 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). New product launches and expansions were the primary growth strategies adopted by the market players, between 2014 and 2018, to enhance their foothold and meet the growing demand for liquid filtration in emerging economies.
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