Filtration Market for the Chemical Processing Industry – Growth Analysis and Forecast | Technavio

LONDON–(BUSINESS WIRE)–#Research–Technavio’s latest market research report on the global
filtration market for the chemical processing industry provides
an analysis of the most important trends expected to impact the market
outlook from 2018-2022. Technavio
defines an emerging trend as a factor that has the potential to
significantly impact the market and contribute to its growth or decline.

According to Technavio analysts, the global filtration market for the
chemical processing industry will grow at a CAGR of approximately 7% during
the forecast period. The growth in global petrochemicals and specialty
chemicals industry is a major factor driving the market’s growth.

Petrochemical products such as polyethylene, polypropylene, polyvinyl
chloride, polystyrene, and polycarbonate, fertilizers, and specialty
chemicals such as paints, coating, industrial cleaning chemicals, and
catalysts form a majority of the global chemical industry output. The
output from these industries is used across a variety of fields and
end-use applications. Therefore, the demand for filtration products from
the petrochemicals industry is high. The demand for petrochemical and
specialty chemical products from all these industries is expected to
increase during the forecast period that will affect the demand for
chemical process filtration.

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In this report, Technavio highlights the advances in filtration
technology as one of the key emerging trends driving the global filtration
market for the chemical processing industry:

Advances in filtration technology

The filtration systems are important for the proper functioning of
process and manufacturing industries and thus, need to be replaced after
a specified amount of duration. But the demand for lower maintenance
filtration systems has been increasing. This is encouraging the
manufacturers to develop advanced filter media to meet this demand. To
provide a solution for this problem, some filtration device
manufacturers have come up with advanced filters such as filter media
with stainless steel or aluminum mesh and filtration units with
integrated pumps. The manufacturers have also come up with silica-free
filter media that can be used effectively in high-temperature chemical
processes without affecting the quality of the output.

“Several manufacturers are also producing filters with larger
containment to increase the duration needed for replacement or cleaning.
The bigger size also permits a larger mesh size, thereby allowing a
higher flow rate,” says a senior analyst at Technavio for research on
tools
and components.

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Global filtration market for the chemical
processing industry – segmentation analysis

This market research report segments the global filtration market for
the chemical processing industry based on type (liquid and gas
filtration and air filtration) and key regions (the Americas, APAC, and
EMEA).

The liquid and gas filtration segment held the largest market share in
2017, accounting for nearly 70% of the market share. The market share
for this region is expected to increase during the forecast period.

APAC was the leading region for the global filtration
market for the chemical processing industry in 2017, accounting
for a market share of around 50%. It was followed by the EMEA and the
Americas respectively in terms of market share. This APAC region is
expected to project significant growth during the forecast period.

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