Another report points to expected growth in water treatment technologies markets. A new study from Reportbuyer indicates that the global liquid filtration market will reach $31.74 billion by 2024. Factors driving growth include technological advancement in wastewater treatment, rapid industrialization, and stringent regulations by the government to implement standard filtration techniques.
"Every industry uses liquid filtration process, i.e., to filter solid-liquid and liquid-liquid to improve the quality of the product," the report states.
Another recent report showed that the market for industrial water treatment technologies geared to managing wastewater is expected to grow 50% by 2020 as water resources become increasingly strained, according to UN Water and published by the United Nations Educational, Scientific and Cultural Organization (UNESCO).
The liquid filtration industry has been observing drastic change, specifically over the past two decades:
All of these are key elements driving the development of the filtration and contamination control market, according to the report.
Asia Pacific dominates the global liquid filtration market holding 52.3% share in 2016. China was the leading country in Asia Pacific and is expected to boost the market over the forecast period due to increasing industrialization. North America was the second largest market followed by Europe driven by stringent government regulations and technological advancement.
Multifilament polypropylene fabrics dominated the global market due to its budding use in textile industry and unique filtration properties. However, nonwoven polypropylene felt is expected to be the fastest growing type at a 7.1% due to its excellent properties such as resistance to alkalis and acids.
There are numerous applications where liquid filtration process is used such as mining, chemicals, pharmaceuticals, food processing, sludge dewatering and wastewater management. Wastewater management holds the major share at 24.4% followed by sludge dewatering. Increasing need for water purification and stringent government regulations regarding waste water discharges from chemical, mining, pharmaceutical industries have been a major driving factor for the market, and the trend is likely to continue over the forecast period.
The market for liquid filtration is fragmented with the presence of organized and unorganized manufacturers across the globe.
The major players analyzed in the report include:
