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Liquid Filtration Market 2024 Report By Key Companies, Regional Analysis And Forecast 2033
Liquid Filtration Market Trends
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According to The Business Research Company's, The liquid filtration market size has grown strongly in recent years. It will grow from $3.3 billion in 2023 to $3.53 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to industrial growth, stringent environmental regulations, water scarcity concerns, health and safety standards, pharmaceutical manufacturing needs, oil and gas exploration.
The liquid filtration market size is expected to see strong growth in the next few years. It will grow to $4.66 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to increasing awareness of filtration benefits, waste management, rising population and urbanization, renewable energy development, rapid industrialization in emerging markets, focus on clean energy, circular economy initiatives. Major trends in the forecast period include technological advancements, customization and specialization, adoption of iot and automation, increasing demand for membrane filtration, globalization and market expansion, focus on energy efficiency.
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Market Drivers and Trends:
A rise in the pharmaceutical sector is expected to boost the growth of the liquid filtration market going forward. Pharmaceuticals refer to drugs or medicinal products that are used for the prevention, diagnosis, and treatment of diseases and medical conditions in humans. Liquid filtration is essential for maintaining high-quality standards in pharmaceutical production. Filtration processes help remove impurities, particles, and contaminants from liquids, ensuring the final pharmaceutical products meet the required specifications. For instance, in November 2022, as per the data published by the India Brand Equity Foundation, an India-based trust established by the Department of Commerce, India's domestic pharmaceutical business was worth $42 billion in 2021 and was expected to grow to $65 billion by 2024 and $120-$130 billion by 2030. Therefore, the rise in the pharmaceutical sector is driving the growth of the liquid filtration market.
Technological advancements are a key trend gaining popularity in the liquid filtration market. Major companies operating in the liquid filtration market are introducing new technologies to sustain the market. For instance, in April 2023, Amazon Filters, a UK-based company that specializes in the design and manufacture of filtration systems, launched a mechanical safety interlock for its key process industry housings. It is designed for users in various sectors such as chemical, water, pharmaceuticals, food and beverage, OEM, and oil and gas. The interlock is a safety feature designed to prevent operators from opening the filtration housing while it is still under pressure. This is crucial for preventing potential health and safety hazards, including exposure to substances and liquids being released violently. Enhanced safety measures are essential in industries where pressurized filtration systems are commonly used.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
Clear Edge Filtration Inc., 3M Company, American Fabric Filter Company, Berry Global Inc., Donaldson Company Inc., Eagle Nonwovens Inc., Fibertex Nonwovens A/S, Freudenberg Filtration Technologies GmbH & Co. KG, Gebr. Kufferath AG, Kimberly-Clark Lever Private Limited, Lydall Inc., Sandler AG, Sefar AG, Valmet Technologies Private Limited, Amiad Water Systems Ltd., ANDRITZ Ltd., Boll Filter Corporation, Bwf Tec India Private Limited, The Camfil Group, Parker Hannifin Corporation, Eaton Corporation, ErtelAlsop LLC, Filter Products Company, Filtermist International Ltd., MAHLE GmbH, Graver Technologies LLC, GVS Group Ltd., Hengst SE, Krone Filter Solutions GmbH, LNS Filtration Inc., Filterwerk Mann+Hummel GmbH, Meissner Corp., Merck Co. & KGaA, Pall Corporation, Porvair plc, Sartorius Stedim Biotech S.A., UFI Filters SpA
Liquid Filtration Market 2024 Key Insights:
• The liquid filtration market size is expected to see strong growth in the next few years. It will grow to $4.66 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%.
• Urbanization And Industrialization Fueling Liquid Filtration Market Growth
• Technological Advancement Driving Transformation In Telecom Billing And Revenue Management
• North America was the largest region in the liquid filtration market in 2023
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