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Macrofiltration Market will grow at a decent CAGR of 6.2% from 2020 to 2027

05-03-2021 06:58 AM CET | Energy & Environment

Press release from: Allied Market Research

Macrofiltration Market

Macrofiltration Market

Leading players of the global macrofiltration market analyzed in the research include Amiad Water Systems, Danaher Corporation, Ascension Industries, Inc., Mann+Hummel, Filtration Group, Ostwald Filtration Systems GmbH, MTB Technologies Sp. Z O.O., Pentair PLC, Parker Hannifin, and SUEZ water technologies Inc.

North America held the highest share in 2019, accounting for more than two-fifths of the total market share, and will maintain its lead position throughout the forecast period. On the other hand, Asia-Pacific is expected to witness the highest CAGR of 7.7% from 2020 to 2027.

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Growth of pharmaceutical industry, increase in utilization of water & wastewater treatment plant for recycling wastewater for industrial and domestic use, and surge in pollution due to industrial waste drives the growth of the global macrofiltration market. However, lack of funding in developing countries and expensive backwash filters hinder the market growth. On the other hand, surge in implementation of chemical free water treatment and technological advancements in filtration processes create new opportunities in the coming years.

Based on product, the granular micro filter segment contributed to more than one-fourth of the global macrofiltration market revenue in 2019, and is expected to retain its dominance by the end of 2027. This is owing to increase in use of granular media used for household and community water treatment. Whereas, the auto backwash filters segment, would register the fastest CAGR of 8.5% throughout the forecast period. Rise in demand for filtered water in food & beverage industry and residential sector to maintain product safety is driving the growth of the segment.

On the basis of industry vertical, the water and waste water segment contributed to more than two-fifths of the global market share in 2019, and is anticipated to continue its dominance during the study period. However, the chemical and pharmaceutical segment is estimated to witness the highest CAGR of 8.5% from 2020 to 2027.

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COVID-19 scenario-

The COVID-19 outbreak has negatively impacted the market players in the global macrofiltration industry. Owing to the precautionary measures, the equipment manufacturing processes in the companies have been disrupted.

The industry has witnessed a decline in demands and interruptions in the supply chain processes amid COVID -19.

Get detailed COVID-19 impact analysis on the Macrofiltration Market:https://www.alliedmarketresearch.com/request-for-customization/6634?reqfor=covid

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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