Refinery and Petrochemical Filtration Market to Reach $6.1 Billion by 2028

The global Refinery and Petrochemical Filtration Market is expected to grow from USD 4.6 billion in 2023 to USD 6.1 billion by 2028, at a CAGR of 6.0% according to a new report by MarketsandMarkets™. Refinery and petrochemical filtration are essential processes in downstream oil and gas production. Refinery filtration purifies crude oil and feedstocks, creating high-quality fuels and lubricants. Petrochemical filtration eliminates contaminants from chemicals and gases used in plastics and industrial goods. Filters are crucial to guarantee the quality and purity of final products while minimizing environmental impact and reducing operational costs.

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The refineries segment is expected to be the largest segment in the refinery and petrochemical filtration market

This report segments the refinery and petrochemical filtration market based on end user into two segments: refineries, and petrochemical industry. The refineries segment is expected to be the largest segment during the forecast period. High investments in global refineries have positively impacted the filtration market for refineries. The need for increased refining capacity is driven by growing energy demand and oil and gas supply. Advancements in refining technology have improved efficiency, reduced waste, and improved the yield of refined products. Stricter emissions regulations have driven cleaner technologies and processes, fueling investments in filtration products.

The bag filter is expected to be the second largest segment in the refinery and petrochemical filtration market

By filter type, the refinery and petrochemical filtration market is divided into coalescer filter, cartridge filter, electrostatic precipitator, filter press, bag filter, and others. Bag filter is the second largest segment in the market. Bag filters are used to filter fluids with a relatively small loading of particles to be removed. The particle suspension passes through, and the particles settle in the bag. The adoption of bag filters is growing in the refinery and petrochemical industry due to their high filtration efficiency, versatility, and cost-effectiveness.

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North America is expected to be the largest region in the Refinery and Petrochemical Filtration Market

North America is expected to be the largest Refinery and Petrochemical Filtration Market during the forecast period. Industries in North America is constantly evolving, with new developments and emerging trends emerging. Some key trends such as the growth in the energy consumption of the region, coupled with development of oil and gas production and refining capacities drive the market for refinery and petrochemical filtrations with the rising need for effective power distribution.

Some of the major players in the Refinery and Petrochemical Filtration Market are 3M (US), Pall Corporation (US), Parker Hannifin Corporation (US), Eaton (Europe), and Pentair Filtration Solutions, LLC (US).

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This release was published on openPR.