Growth in pharmaceutical sector, rise in usage in water and wastewater treatment, and stringent environment regulations drive the growth of the global macrofiltration market
PORTLAND, Oregon, May 13, 2020 /PRNewswire/ -- Allied Market Research published a report titled, "Macrofiltration Market by Product (Granular Micro Filter, Filter Press Filter, Leaf Tubular and Press Filter, Bag Filter, Belt Filter Press, Auto Backwash Filters and Others) and Industry Vertical (Water and Wastewater, Chemical and Pharmaceutical, Mining and Metal, Food and Beverage, Paper and Pulp and Others): Global, 2020–2027" According to the report, the global macrofiltration industry was estimated at $6.2 billion in 2019, and is expected to hit $9.9 billion by 2027, registering a CAGR of 6.2% from 2020 to 2027.
Drivers, restraints, and opportunities-
Growth in pharmaceutical sector, rise in usage in water and wastewater treatment, and stringent environment regulations drive the growth of the global macrofiltration market. In addition, increase in population in water stressed area and surge in pollution due to dumping of industrial waste fuel the market growth. On the other hand, lack of funds in emerging countries and high cost of backwash filter hamper the growth of the market. Nevertheless, rise in use of chemical free water treatment and advancement in filtration technologies are expected to create lucrative opportunities in the near future.
Get detailed COVID-19 impact analysis on the Macrofiltration Market: https://www.alliedmarketresearch.com/request-for-customization/6634?reqfor=covid
The granular micro filter segment to maintain the lion's share by 2027-
Based on product, the granular micro filter segment contributed to more than one-fourth of the global macrofiltration market revenue in 2019, and is expected to retain its dominance by the end of 2027. This is owing to increase in use of granular media used for household and community water treatment. Whereas, the auto backwash filters segment, would register the fastest CAGR of 8.5% throughout the forecast period. Rise in demand for filtered water in food & beverage industry and residential sector to maintain product safety is driving the growth of the segment.
The water and waste water segment to dominate during the estimated period-
Based on industry vertical, the water and waste water segment accounted for more than two-fifth of the global macrofiltration market share in 2019, and is anticipated to rule the roost during the study period. Increase in urbanization and industrialization in Asia-Pacific has led to increase in demands for macrofiltration, which drives the growth of the segment. On the other hand, the chemical and pharmaceutical segment is anticipated to manifest the fastest CAGR of 8.5% from 2020 to 2027. Filtration keeps chemicals, and pharmaceuticals clean, and free from contaminants. In addition, filtration helps in preventing cross-contamination between chemicals, and makes operations flow smoothly and more efficiently which drive the growth of the segment.
Download Sample Report: https://www.alliedmarketresearch.com/request-sample/6634
North America to dominate in terms of revenue-
Based on region, North America held the largest share in 2019, garnering more than two-fifths of the global macrofiltration market, as the region has major market players offering advanced solutions. Strict regulations pertaining to water quality standards, rise in use of treated water for industrial processes, and increase in population drive the growth of the market. On the other hand, the Asia-Pacific region is projected to manifest the fastest CAGR of 7.7% by 2027. Granular media filters usage is increasing in the region due to rise in construction of swimming pools and municipal drinking water plants. In addition, increase in industrialization and water treatment of municipal wastewater fuels the growth of the Asia-Pacific macrofiltration market.
Frontrunners in the industry-
For Purchase Inquiry: https://www.alliedmarketresearch.com/purchase-enquiry/6634
Access AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model) at:
Avenue is a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, economies, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements.
Avenue Library Subscription | Request for 14 days free trial of before buying:
Pre-Book Now with 12% Discount:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
5933 NE Win Sivers Drive
#205, Portland, OR 97220
Toll Free: 1-800-792-5285
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060