What is the future of Liquid Filtration Market? Know Covid Impact on Size, Share & Forecasts
June 22, 2020
The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Liquid Filtration Market.
It was estimated prior to this unanticipated outbreak that the Liquid Filtration Market was expected to grow at a CAGR of 7.2% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
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Liquid filtration is the process through which any liquid if cleaned by letting it pass through a filter. The solid elements and other impurities stay in the medium while what passes through is clean liquid.
Liquid filtration is done through different mediums like woven, non-woven, and mesh. It is used in municipal as well as industrial purposes.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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Based on the filter type, the market is segmented as woven, non-woven, and mesh. The woven segment is estimated to lead the market in the coming five years. The growth is attributed to the rising demand for monofilament and multifilament fabrics in various industrial applications. Monofilament fabrics deliver numerous benefits, such as enhanced open area, elevated flow rate, rarer likelihoods of product pollution, and fewer openings, which render extended lifespan and competent operation for solid elimination. Monofilament fabrics have substituted metal wire cloth in various applications, such as dryer belts, fiber belts, sifting screens, automobile filters, and rotary filters.
Based on the fabric material type, the market is segmented as polymer, cotton, aramid, and metal. The polymers segment is expected to dominate the market during the forecast period. The growth is owing to the exceptional properties of polymers, such as elevated thermal and chemical confrontation and minimal water absorption which enable them as the preferred choice for filter media engineering.
Based on the end-user type, the market is segmented as municipal and industrial. The industrial segment is expected to lead the market in the coming five years. The major other subsegments, such as food & beverage, mining, chemical, and pharmaceutical, are the prime end-users of liquid filtration. The food & beverage segment is estimated to register the fastest stride. The rapidly growing population and fast urbanization, coupled with the changing lifestyles, have catapulted the progress of the food & beverage industry, globally. The increasing demand for ready-to-eat food, processed & semi-processed food, and convenience food signifies ample growth opportunities for the food & beverage industry, which is bolstering the liquid filtration market.
In terms of regions, Asia-Pacific is estimated to be the fastest-growing market for liquid filtration, globally. The growth is majorly driven by high demand from the chemical, municipal, mining, pharmaceutical, and food & beverage sectors. The necessity for liquid filtration is predominant in developing economies, such as China, India, and Indonesia. The growing urbanization and rapid industrialization are contributing to the rising demand for potable water, which in turn, is driving the region’s liquid filtration market in the municipal and industrial segments. The enactment of stringent environmental guidelines in developed as well as emerging countries is also a prime driver of the global market. North America and Europe are also expected to offer sizeable growth opportunities during the forecast period.
Key Players:
Some of the major players in the liquid filtration market are American Fabric Filter, Ahlstrom-Munksjö, Autotech Nonwovens, Clear Edge Filtration Group, Eaton Corporation, Freudenberg Filtration Technologies, Fibertex Nonwovens A/S, Filtercorp International, GKD Gebr. Kufferath AG, and Hollingsworth & Vose.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Liquid Filtration Market analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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