The global liquid filtration industry is expected to reach $2.7 billion by 2027
Dublin, April 27, 2022 (GLOBE NEWSWIRE) — The report ‘Liquid Filtration Market (2021-2026)’ has been added to from ResearchAndMarkets.com offer.
The liquid filtration market size is expected to reach US$2.7 billion by 2027 after growing at a CAGR of 6.1% during the forecast period 2022-2027.
Liquid filtration is the process of removing solids from a contaminated liquid by passing it through filter media to contain the solid particles and allow clean liquid to pass through the system. Different types of liquid filtration systems include particle filtration and membrane filtration such as reverse osmosis and microfiltration system. The Ministry of Petroleum and Natural Gas (MoPNG) has announced that activities related to 8,363 oil and gas projects worth INR 5.88 lakh crore ($80.47 billion) have resumed in India since April 2020 .
This, in turn, has increased the demand for liquid filtration systems in order to filter, refine and treat the wastewater produced from these production sites. An increase in demand from oil and gas sectors along with stringent government regulations to adopt water treatment are acting as major drivers for the market. On the other hand, the reliance of the liquid filtration industry on industrial catalysts can be a major constraint for the market.
Impact of COVID-19
There is no doubt that the COVID-19 lockdown has drastically curtailed production activities, due to the closure of production sites across the country, labor shortages and the decline of the supply chain. supply and demand around the world. Studies show that the COVID-19 outbreak has sharply decreased oil and gas production in 2020 due to a lack of operations in several countries around the world.
A decline in production activities has significantly reduced the generation of liquid waste generated by these oil refinery sites, thus affecting the market. However, a slow recovery of new development and production activities has been observed in many countries around the world since the end of 2020. For example, in September 2020, the Indian Oil Corporation (IOC) had approved an investment of 1,268 INR crores (US$173.5 million) to set up a needle coker unit at the firm’s Paradip refinery in Odisha. The proposed unit is expected to have a total calcined needled coke (CNC) production capacity of approximately 56 kilo tonnes per year.
Similarly, Australia announced the resumption of its Scarborough gas project and Pluto LNG expansion worth US$11 billion since 2020. The facility was built with a target capacity of 4 to 5 mtpa, which will be responsible for developing gas from the Scarborough field, located 270 km off the coast of Western Australia. In this way, a slow and steady increase in oil and gas production activities is expected to increase the demand for liquid filtration for the treatment of wastewater produced from these production sites. This will eventually lead to a steady market recovery in the years to come.
Key points to remember
- The membrane filtration system in liquid filtration market is expected to witness the fastest growth, especially during the forecast period. Its wide range of benefits such as high energy efficiency and cost effectiveness have set it apart from other filtration systems on the market.
- The municipal liquid filtration market industry is expected to witness the fastest growth, especially over the forecast period, owing to the growing demand for wastewater treatment from the industry.
- North America led the liquid filtration market in 2021, owing to the growing demand for water treatment due to shale gas exploration in the region in recent years.
Liquid Filtration Market Drivers
Increasing demand for oil and gas production is most likely to drive market growth
Continuous increase in demand for oil and gas supply from industrial, commercial and residential sectors is a key driver for market growth. For example, Nigeria has announced the launch of its project called Dangote Refinery and Polypropylene Plant worth US$11 billion, which is expected to start operations by 2022. The facility is expected to process different grades of crude, including including shale oil, as well as production capacity. 104,000 bpd of diesel, 153,000 bpd of gasoline, 4,109 bpd of LPG, 73,000 bpd of jet fuel and 12,300 bpd of heating oil. Similarly, Russia has completed its project called Nord Stream 2 Gas Pipeline worth US$10.8 billion in 2021. The pipeline has increased the gas capacity of the Nord Stream route to 110 billion m3 per year.
The water filtration system plays a major role in filtering and refining waste water generated by the oil and gas sector during production activities. This not only reduces the negative impact of generated wastewater on the environment, but also helps the industry save a lot of money by reusing recycled waste. Thus, an increase in the demand for oil and gas production activities in various countries around the world will also increase the demand for treatment of wastewater generated during these production activities to maintain current environmental regulations, thus resulting in market growth in the coming years.
Strict government regulations to adopt wastewater treatment are most likely to drive market growth
Authorities such as the Environmental Protection Agency (EPA) have enforced strict regulations on pollutant discharge limits in wastewater. For example, the United States Environmental Protection Agency has issued effluent guidelines for industries under the Clean Water Act (CWA). According to this regulation, the maximum level of contamination authorized in discharges depends on the type of industry as well as the levels that have been set according to the performance of the treatment systems. Any form of violation of these regulations or guidelines may result in an environmental penalty. Exceeding the mentioned release levels, abnormal or accidental release of pollutants as well as failure to report releases may result in an environmental penalty. Therefore, all manufacturers in several industries are required to follow these regulations and tend to treat wastewater properly to avoid such penalties. Since liquid filtration systems are primarily used in several industries for filtering, refining, and wastewater treatment, this, in turn, can lead to significant growth in the liquid filtration market.
Liquid Filtration Market Challenges
Dependence on Industrial Catalysts May Hamper Market Growth
Dependence on industrial catalysts is one of the major challenges facing the liquid filtration industry. Industrial catalysts play a vital role in improving the fluidity of the liquid filtration process to make it stable. However, these catalysts are quite expensive and difficult to maintain. These catalysts come with fixed guidelines and it is essential to remove all particles from the slurry of the final product for the catalysts to work. On top of that, many of these catalysts work based on particle size, which, in turn, makes the process much more complex. Thus, these issues and the complexity associated with the industrial catalysts required in the liquid filtration industry may limit the growth of the market.
Main topics covered:
1. Liquid Filtration Market – Market Overview
2. Liquid Filtration Market – Executive Summary
2.1 Key Trends by Fabric Material Type
2.2 Key Trends by Filter Type
2.3 Key Trends by Filtration System
2.4 Key Trends by End-Use Industry
2.5 Key Trends by Geography
3. Liquid Filtration Market – Benchmarking
3.1 Market share analysis – large companies
3.2 Product Benchmarking – Large Companies
3.3 Top 5 financial analyzes
3.4 Patent Analysis – Large Companies
3.5 Price Analysis (ASPs will be provided)
4. Liquid Filtration Market – Market Forces
4.1 Market Drivers
4.2 Market Constraints
4.3 Carrier Five Forces Model
4.3.1 Bargaining power of suppliers
4.3.2 Bargaining power of buyers
4.3.3 Threat of new entrants
4.3.4 Competitive Rivalry
4.3.5 Threat of Substitutes
5. Liquid Filtration Market – Strategic Analysis
5.1 Value/Supply Chain Analysis
5.2 Opportunity Analysis
5.3 Product/market life cycle
5.4 Distributor Analysis – Large Companies
6. Liquid Filtration Market – By Fabric Material Type (Market Size – Million/Billion US$)
7. Liquid Filtration Market – By Filter Type (Market Size – Million/Billion US$)
8. Liquid Filtration Market – By Filtration System (Market Size – Million/Billion US$)
8.1 Particle filtration
8.1.1 Bag filters
8.1.2 Cartridge filters
8.1.3 Self-cleaning filters
8.2 Membrane filtration
8.2.1 Reverse osmosis
8.2.2 Ultrafiltration and microfiltration system
9. Liquid Filtration Market – By End-Use Industry (Market Size – Million/Billion US$)
9.1 Municipal treatment
9.2 Industrial processing
9.2.1 Food and drink
9.2.3 Oil and Gas
9.2.4 Metals and mining
9.2.5 Paper and pulp
9.2.6 Food and drink
10. Liquid Filtration Market – By Geography (Market Size – Million/Billion US$)
11. Liquid Filtration Market – Entropy
11.1 New Product Launches
11.2 Mergers and Acquisitions, Collaborations, Joint Ventures and Partnerships
13. Company Analysis of Liquid Filtration Market – Business Overview, Product Portfolio, Financials and Developments
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