Press release
Macrofiltration Market 2021 Is Booming Worldwide To Generate Massive Revenue by 2027
Macrofiltration Market
Growth in pharmaceutical sector, rise in usage in water and wastewater treatment, and stringent environment regulations drive the growth of the global macrofiltration market. In addition, increase in population in water stressed area and surge in pollution due to dumping of industrial waste fuel the market growth. On the other hand, lack of funds in emerging countries and high cost of backwash filter hamper the growth of the market. Nevertheless, rise in use of chemical free water treatment and advancement in filtration technologies are expected to create lucrative opportunities in the near future.
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The report offers a detailed segmentation of the global macrofiltration market based on product, industry vertical, and region. Based on product, the granular micro filter segment accounted for more than one-fourth of the total market revenue in 2019, and is expected to maintain its lead position by 2027. However, the auto backwash filters segment is expected to portray the fastest CAGR of 8.5% during the forecast period.
Based on industry vertical, the water and waste water segment accounted for more than two-fifth of the global macrofiltration market share in 2019, and is anticipated to rule the roost during the study period. Increase in urbanization and industrialization in Asia-Pacific has led to increase in demands for macrofiltration, which drives the growth of the segment. On the other hand, the chemical and pharmaceutical segment is anticipated to manifest the fastest CAGR of 8.5% from 2020 to 2027. Filtration keeps chemicals, and pharmaceuticals clean, and free from contaminants. In addition, filtration helps in preventing cross-contamination between chemicals, and makes operations flow smoothly and more efficiently which drive the growth of the segment.
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Covid-19 scenario:
The water treatment plants have been either closed or running with less manpower due to lockdown during the Covid-19 pandemic.
Investments and funding for employing new technologies have been put on hold by governments and private investors. Plans have been revised to adapt to the economic crisis.
Research and development activities of innovative technologies have been on a standstill due to lockdown.
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