Liquid Filtration Market Worth $2.9 Billion by 2024 : At a CAGR of 6.5%
The global liquid filtration market size is expected to grow from USD 2.1 billion in 2019 to USD 2.9 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 6.5% during the forecast period. The major factors driving the liquid filtration industry growth include stringent regulations pertaining to the treatment of industrial and municipal waste, growing industrialization & urbanization.
Northrook, IL -- (SBWire) -- 11/25/2019 --The report "Liquid Filtration Market by Fabric Material (Polymer, Cotton, and Metal), Filter Media (Woven, Nonwoven, and Mesh), End-User (Municipal Treatment, Food & Beverage, Metal & Mining, Chemical, and Pharmaceutical), Region - Global Forecast to 2024" The global liquid filtration market size is expected to grow from USD 2.1 billion in 2019 to USD 2.9 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 6.5% during the forecast period. The major factors driving the liquid filtration industry growth include stringent regulations pertaining to the treatment of industrial and municipal waste, growing industrialization & urbanization.
Browse 65 Market Data Tables and 43 Figures spread through 130 Pages and in-depth TOC on "Liquid Filtration Market - Global Forecast to 2024"
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The polymer segment is projected to lead the global liquid filtration market during the forecast period.
On the basis of fabric material, the liquid filtration industry has been segmented into three types, namely, polymer, cotton, and metal. The polymer segment is projected to lead the global market during the forecast period. The demand for polymer fabric is the highest due to its excellent physical properties. Continuous R&D on polymer materials to further improve their properties will also support the high demand for polymers during the forecast period
The nonwoven filter media segment accounted for the largest percentage of the global liquid filtration market share in 2019.
The has been segmented on the basis of filter media into three categories, namely, woven, nonwoven, and mesh. Among these types, the nonwoven filter media segment accounted for the largest market share in 2019. Nonwoven filter media provides specific functions, such as absorbency, strength, and bacterial barriers during the filtration processes.
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The food & beverage end-user is projected to register the highest CAGR in the global liquid filtration market during the forecast period.
The food & beverage end-user is growing rapidly owing to the rising demand for ready-to-eat food, convenience food, and processed & semi-processed food. Filtration and purification of the water are required during various processes in the industry. Filtration is done to remove impurities, control odors & humidity, minimize contamination of food, and protect the taste of the food.
APAC is the leading liquid filtration market.
APAC is the largest market for liquid filtration. The growing population, urbanization, and improving standard of living in the emerging economies of APAC and growing industrialization are boosting the liquid filtration market. The major end-user of liquid filtration in the region are municipal, food & beverage, metal & mining, and chemical.
The major vendors in the liquid filtration market include Ahlstrom-Munksjo (Finland), Lydall, Inc. (US), Valmet (Finland), Kimberly-Clark Corporation (US), Freudenberg Filtration Technologies (Germany), Clear Edge (US), Fibertex Nonwovens (Denmark), Hollingsworth & Vose (US), Johns Manville (US), Sefar AG (Switzerland), 3M (US), American Fabric Filter (US), Autotech Nonwovens (India), Berry Global, Inc. (US), Donaldson Filtration Solutions (US), Eagle Nonwovens Inc. (US), G. Bopp + Co. AG (Switzerland), GKD (Germany), Kavon Filter Products Co. (US), MANN+HUMMEL (Germany), Norafin Industries (Germany), Sandler AG (Germany, Schweitzer-Mauduit International, Inc. (US), TWE Group (Germany), and Yingkaimo Metal Net Co. (China).
- In October 2018, Fibertex Nonwovens (Denmark) invested in a nonwovens production line for filter media, which will use various polymers, such as polyurethane (PU), polyvinylidene fluoride (PVDF), and polyamide (PA), during the manufacturing process
- In June 2018, Ahlstrom-Munksjo (Finland) invested USD 32 million in its filtration & performance business to increase its manufacturing capacity as well as product capabilities. With this investment, the company is planning to expand its production capacity in the Turin (Italy) plant.
- In January 2017, Lydall, Inc. (US) acquired the MGF Gutsche GmbH & Co. KG (Germany). Gutsche is a leader in the production of nonwoven needle punch material for industrial filtration applications. This acquisition strengthened its position as a premier provider of filter media products.
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