According to a new report published by Allied Market Research, titled “Macrofiltration Market by Product and Industry Vertical: Opportunity Analysis and Industry Forecast, 2020–2027,”the global macrofiltration market was valued $6.2 billion in 2019, and is projected to reach $9.9 billion by 2027, at a CAGR of 6.2% from 2020 to 2027.
Increase in usage of macrofiltration in water purification & wastewater treatment and government regulations associated with water pollution are global macrofiltration market trends observed in the recent years. Growth in biopharmaceutical industry, rise in population, and rapid industrialization across emerging economies are other factors that supplement the market growth. However, high initial investment, lack of funds in developing countries, and strict government regulations associated with validation of filtration procedures restrict the growth of the global macrofiltration market.
Based on type, the global macrofiltration market analysis is done into granular micro filter, filter press filter, leaf tubular and press filter, bag filter, belt filter press, auto backwash filters, and others. The auto backwash filter segment is expected to grow with a CAGR of 9.3% during the forecast period. Rising demand for filtered water in food & beverage industry and residential sector to maintain product safety is driving the growth of the market. However, high cost of auto backwash filters and high maintenance cost is hampering the growth of backwash filter. Furthermore, emerging trend such as increasing water treatment plants in Asia-Pacific is estimated to provide lucrative growth opportunities to the market.
Based on industry vertical, market is segmented into water and wastewater, chemical and pharmaceutical, mining and metal, food and beverage, paper and pulp and others. Rise in use of drum and disk filters in mining applications is boosting the market of macrofiltration for the mining industry. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, the Middle East, and Africa. North America holds the dominant share in the macrofiltration market in 2019 and Asia-Pacific is expected to be the fastest growing region.
Macrofiltration membranes are used for the treatment of municipal wastewater to clean and recycle it before using it for drinking as well as sanitation. Also, macrofiltration finds applications in the chemical industry and is used to purify process stream. The demand for macrofiltration is expected to increase due to significant expansion of the chemical industry across India, China, and Japan. In addition, macrofiltration is widely used in the dairy industry for lactose concentration and demineralization. Rise in demand for dairy products in emerging economies such as India and China, is anticipated to drive the global macrofiltration market growth in the region.
Market players have adopted agreement, partnership, and expansion as their key developmental strategies to gain a competitive advantage in the market. The key players operating in the global macrofiltration industry include Amiad Water Systems, Ascension Industries, Inc., Danaher Corporation, Filtration Group, Mann+Hummel, MTB Technologies Sp. Z O.O., Ostwald Filtration Systems GmbH, Parker Hannifin, Pentair PLC, and SUEZ water technologies Inc. In order to stay competitive, these market players are adopting different strategies such as product launch, partnership, merger and acquisition. In an instance, SUEZ acquired GE Water & Process Technologies. This acquisition reinforced the company's geographical position and added a brand to its product portfolio.
Key Findings Of The Study
The water and wastewater segment was the highest contributor in the global macrofiltration market size, and is estimated to grow at a CAGR of 6.1% during the forecast period.
North Americais anticipated to dominate the global macrofiltration market share during the entire forecast period.
The granular micro filter segment was the highest contributor to the market and is estimated to grow at a CAGR of 5.2% during the forecast period.
Auto backwash filters and belt filter press are expected to witness considerable CAGRs of 8.5% and 6.4%, respectively, during the forecast period.