Industrial Filtration Market Size and Trends

Global Industrial Filtration Market is estimated to be valued at USD 39.1 Bn in 2024 and is expected to reach USD 51.2 Bn by 2031, growing at a compound annual growth rate (CAGR) of 3.7% from 2024 to 2031.

Key Takeaways from the Industrial Filtration Market Report:

Air & Gas filtration is expected to contribute the highest market share of 69.4% in 2024.
Non-woven segment is expected to contribute the highest market share of 43.2% in 2024.
Food & beverage is expected to contribute the highest market share of 45.5% in 2024.
North America is a leading market expected to account for 39.1% market share in 2024.

Market Overview:

The industrial filtration market is set to expand at a moderate pace over the forecast period. The industry growth is projected to witness a high demand for filtration systems from industries such as oil & gas, power generation, food & beverage, and pharmaceutical where these systems remove impurities from liquids and gases. Increasing environmental regulations regarding emissions and effluents will also contribute to the demand for industrial filtration solutions across various end-use industries.

Industrial Filtration Market Concentration By Players

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Key Developments:

In August 2024, Cleanova expanded its global presence by acquiring Sidco Filter Company and Shawndra Products.
In July 2024, IDEX Corp announced its plan to acquire filtration products maker Mott Corp for USD one billion in cash, aiming to bolster its presence in the medical technologies industry.
In October 2024, Solventum, a healthcare company recently spun off from 3M, began exploring the sale of its purification and filtration business, which reported about one billion in revenue in 2023.
In September 2023, K&N Engineering unveiled an air filtration solution for industrial applications and data centers, aiming to reduce waste and energy utilization while maintaining high performance.
In January 2024, Coway introduced the Airmega 100, a cylindrical air purifier designed for small areas, featuring a 360-degree air intake and a HEPA 3-stage filtration system to provide healthier indoor air.

Top Strategies Followed by Industrial Filtration Market Players:

Established Players: Established Players focus heavily on research and development to drive product innovation.
For instance, companies like Clarcor and Donaldson spend over 5% of their annual revenues on R&D. This allows them to continually launch high-performing filter media, housings and integrated systems. They also pursue strategic partnerships with major OEMs. For example, Mann+Hummel has long-term supply agreements with automotive giants like Volkswagen and Daimler. Such partnerships strengthen distribution networks and promote product adoption.
Leading players additionally focus on global expansion into emerging economies. Parker Hannifin has expanded its presence across Asia Pacific and Latin America in the last five years through acquisitions and new facilities. This allows it to better serve growing international demand.
Mid-Level Players: Mid-level players concentrate on providing cost-competitive alternatives.
For instance, companies like Hollingsworth & Vose emphasize value engineering to meet budget constraints in various industries like energy and construction. They also form technology collaborations, like Lenntech working with Evoqua Water Technologies to bolster expertise in water filtration fields.
Small Players: Smaller players often find success through niche specialization.
For instance, Fibertex Personal Care develops ultra-fine fiber solutions for hygiene products catering to an underserved need. They also embrace new technologies quicker - ProcessFilter integrates 3D printing for rapid customized filter manufacturing. Local partnerships also aid market access as seen by Purolator partnering with regional OEMs in India and Mexico.

Emerging Startups in the Industrial Filtration Industry Ecosystem

Innovation: Several startups are advancing innovative technologies, like Filter Sensing which developed smart sensors integrated into filters to enable remote monitoring. Their IIoT solutions could transform the industry by facilitating predictive maintenance. BioLargo's electrochemical treatments offer sustainable alternatives to traditional chemicals.
Sustainable Solutions: Other startups focus on eco-friendliness. Aquafil uses recycled ocean plastics for water filters, diverting waste from landfills. FiberLean developed a natural fiber technology from agricultural byproducts as a renewable alternative to synthetic materials. Their approaches could lower overall industry carbon footprint over time.

Niche Specialization: Startups also target niche markets through novel approaches. Camfil's allergen filters address indoor air quality concerns, while SepLite's sewage treatment technologies service decentralized communities. Partnerships help startups gain traction - Fiberio works with Evonik on 3D printed filter prototypes applicable across industries.