Industrial Filtration Market Forecast and Size by 2031

Coverage: Industrial Filtration Market covers analysis By Type (Air, Liquid); by Filter Media (Fiber Glass, Filter Paper, Metal, Non-Woven Fabric); by Industry (Food and Beverage, Metal and Mining, Chemical, Pharmaceutical, Power Generation, Others), and by Geography (North America, Europe, Asia Pacific, and South and Central America)

Publication Month : Apr 2024

  • Report Code : TIPEL00002620
  • Category : Electronics and Semiconductor
  • Status : Upcoming
  • No. of Pages : 150
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[Research Report] The industrial filtration market is estimated to grow US$ 32.5 billion in 2022 to US$ 43.2 billion by 2030, projected to grow at a CAGR of 6.2% from 2022 to 2030.

Analyst Perspective:

The industrial filtration market has grown significantly in recent years. Factors such as increasing industrialization and urbanization drive the market's growth. The increasing industrial operations, funding for companies, and the need for advanced technology solutions contribute to developing the industrial filtration market.

Market Overview:

Industrial filtration removes impurities and contaminants from liquids, gases, or air in various industrial applications. It involves using specialized equipment and techniques to separate unwanted particles and substances, ensuring the final product meets the required quality standards. This process plays a crucial role in maintaining the efficiency and longevity of industrial equipment and ensuring the safety and quality of the end products.

In industrial settings, filtration is used in various industries, including manufacturing, oil and gas, pharmaceuticals, food and beverage, automotive, etc. The primary purpose of these filtrations is to eliminate contaminants such as dirt, dust, debris, bacteria, viruses, chemicals, and other solid or liquid particles that can adversely affect the final product's production process or quality.

One of the primary factors driving the industrial filtration market is increasing awareness and regulations regarding environmental protection. As governments worldwide tighten rules and standards related to emissions, waste disposal, and water treatment, industries are compelled to adopt efficient filtration solutions to meet these requirements. This has led to a surge in demand for filtration systems that can effectively remove pollutants, contaminants, and particulate matter from industrial processes, ensuring compliance with environmental regulations.

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Industrial Filtration Market: Strategic Insights

industrial-filtration-market
Market Size Value inUS$ 32.5 billion in 2022
Market Size Value byUS$ 43.2 billion by 2030
Growth rateCAGR of 6.2% from 2022 to 2030
Forecast Period2022-2030
Base Year2022
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Market Driver:

Growing Emphasis on Occupational Health and Safety to Drive Growth of the Industrial Filtration Market.

The growing emphasis on occupational health and safety is a significant factor driving the growth of the industrial filtration market. Occupational health and safety (OHS) has emerged as a crucial aspect of business operations, with industries recognizing the significance of providing a safe working environment for their employees. This growing emphasis on OHS has become a significant driver in the industrial filtration market as businesses strive to control exposure to hazardous substances and airborne contaminants.

Industries such as manufacturing, mining, and pharmaceuticals are at the forefront of investing in advanced filtration technologies to safeguard their workforce from harmful particles, chemicals, and fumes. These sectors often involve processes that generate a wide range of airborne pollutants, including dust, gases, vapors, and toxic substances. Failure to address these hazards adequately can lead to severe health issues, reduced productivity, and legal liabilities. To mitigate these risks, businesses are increasingly adopting effective filtration systems that can eliminate or minimize the presence of harmful particles in the workplace. These systems encompass many filtration technologies, including high-efficiency particulate air (HEPA) filters, activated carbon filters, electrostatic precipitators, and molecular filters. HEPA filters, for example, are highly efficient at capturing airborne particles as small as 0.3 micrometers with an efficiency of 99.97%. They are commonly used in industries where fine particles pose a significant risk, such as pharmaceutical manufacturing facilities or cleanrooms. On the other hand, activated carbon filters excel in adsorbing and removing gases and volatile organic compounds (VOCs), making them suitable for applications involving chemical processes or air pollution control.

Segmentation and Scope:

The "industrial filtration market" is segmented based on type, filter media, industry, and geography. Based on the type, the industrial filtration market is segmented by air and liquid. The industrial filtration market is segmented into fiberglass, filter paper, metal, and non-woven fabric based on the filter media. Based on industry, the industrial filtration market is segmented into food and beverage, metal and mining, chemical, pharmaceutical, power generation, and others. The industrial filtration market is segmented based on geography into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.

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Segmental Analysis:

The industrial filtration market is segmented into fiberglass, filter paper, metal, and non-woven fabric based on the filter media. The non-woven fabric segment holds a significant market share in the industrial filtration market. This filter media segment is growing in popularity because it offers various benefits such as durability, reusability, water resistance, hypoallergenic properties, fire resistance, softness, lightness, and sometimes washability. The complex arrangement of fibers in non-woven fabric and its high-speed and low-cost manufacturing procedures make it well-suited for various industries, including pharmaceuticals and mineral processing. The adaptability of the structure also allows for diverse design possibilities, further enhancing its appeal in industrial filtration applications.

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Regional Analysis:

The European region in the industrial filtration market is poised to experience significant growth in the foreseeable future. Europe has been at the forefront of implementing strict environmental regulations and standards to reduce the impact of industrial emissions. These regulations emphasize using non-toxic materials, modification of manufacturing methods, and conservation techniques. As a result, European industries are increasingly adopting industrial filtration systems to comply with these regulations and reduce pollution, thereby driving the regional industrial filtration market.

Furthermore, European industries strongly emphasize providing a safe working environment for their employees. This includes controlling exposure to hazardous substances and airborne contaminants. Industrial filtration systems ensure occupational health and safety by effectively removing harmful particles, chemicals, and fumes from the workplace.

Key Player Analysis:

The industrial filtration market analysis consists of players such as Pall Corporation, Mott Corporation, Aqseptance Group, Universal Filtration, Alfa Laval Inc., Donaldson Company, Inc., Freudenberg Filtration Technologies SE & Co. KG, Mann + Hummel, Parker Hannifin Corp., and Filtration Group, are among the vital industrial filtration market players profiled in the report.

Recent Developments:

 

Inorganic and organic strategies such as mergers and acquisitions, new product launches, expansion, and diversification are highly adopted by companies in the industrial filtration market. A few recent key developments in the industrial filtration market are listed below: 

  • In July 2023, Pall Corporation, a renowned global leader in the industrial filtration market, separation, and purification technology, is set to showcase its next-generation filtration and purification technology at SEMICON West. This strategic move aligns with the increasing demand for advanced chips with enhanced performance and energy efficiency, driven by the growing adoption of 5G, AI, and IoT devices.
  • In October 2023, MANN+HUMMEL Group, a global leader in filtration solutions, has recently acquired a majority stake in Suzhou U-Air Environmental Technology. This strategic move is driven by the increasing global demand for cleaner air solutions and aims to strengthen MANN+HUMMEL's presence in the Chinese and Southeast Asian air filtration market. The acquisition of Suzhou U-Air Environmental Technology allows MANN+HUMMEL to expand its product portfolio and meet the region's rising demand for air filtration solutions.
  • In January 2023, MANN+HUMMEL Group, a leading filtration solutions provider, invested strategically in M-Filter Group, a prominent filter manufacturing company in Northern and Eastern Europe. With multiple production facilities in Finland and Lithuania, M-Filter Group has specialized in various filtration areas, including air ventilation filters, HEPA filters, and oil/hydraulic filters for engines, since 1962. This strategic investment allows MANN+HUMMEL to enhance its product offerings in the commercial and residential HVAC market by adding the Filterpak brand.
  • In August 2022, Pall Corporation, a prominent leader in filtration, separation, and purification technology, began constructing a cutting-edge manufacturing facility in Singapore. With an estimated investment of US$100 million, this groundbreaking project is crucial amidst a global chip shortage. It is set to boost the Asia Pacific (APAC) semiconductor industry significantly. The state-of-the-art facility is strategically designed to enhance Pall's production capabilities, doubling its current capacity. This expansion underscores Pall's commitment to meeting the increasing demand for high-quality filtration and purification solutions in the semiconductor sector. By bolstering its presence in Singapore, a thriving regional hub, Pall aims to solidify its position as a critical player in the US$1 trillion industry, regionally and globally.
  • In November 2021, Alfa Laval strategically enhanced its LNG portfolio by introducing the gas combustion unit 2.0. This significant investment positions the company to broaden its market presence across multiple Gulf countries and capitalize on new business opportunities in the region.
  • In October 2021, Donaldson Company completed the acquisition of Solaris (US), a strategic move that strengthens its ability to deliver comprehensive filtration solutions to customers in the food and beverage industry. This acquisition also allows the company to expand its presence in vital life science markets, including biopharma. By integrating Solaris into its operations, Donaldson Company aims to enhance its product offerings and expand its reach in these critical sectors.
  • In September 2021, Eaton unveiled a groundbreaking addition to its product lineup, the Zero-leak Compact Combo Valve. This innovative valve solution addresses the critical need to vent evaporative fuel vapors safely in tanks. By combining a Fill Limit Vent Valve (FLVV) with a newly developed Zero-Leak Grade Vent Valve (GVV), Eaton has created a compact and efficient solution that effectively manages the release of harmful vapors. This new offering further strengthens Eaton's position as a leader in providing advanced solutions for the fuel systems industry.
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Type, Filter Media, Industry, and Geography

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

This text is related
to country scope.

The List of Companies

1. Industrial Filtration, Inc.
2. Alfa Laval AB
3. Eaton Corporation Plc
4. 3M Company
5. Clarcor Inc.
6. Cummins Filtration
7. Pentair Plc
8. Donaldson Company, Inc.
9. Lenntech
10. Parker Hannifin Corporation

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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