Portland, OR, Nov. 17, 2020 (GLOBE NEWSWIRE) -- According to the research published by Allied Market Research, the global macrofiltration market garnered $6.2 billion in 2019, and is estimated to garner $9.9 billion by 2027, witnessing a CAGR of 6.2% from 2020 to 2027. The report provides a detailed analysis of changing market trends, current market size & projections, key segments, pricing strategy, business performance, value chain, and competitive scenario.
Growth of pharmaceutical industry, increase in utilization of water & wastewater treatment plant for recycling wastewater for industrial and domestic use, and surge in pollution due to industrial waste drives the growth of the global macrofiltration market. However, lack of funding in developing countries and expensive backwash filters hinder the market growth. On the other hand, surge in implementation of chemical free water treatment and technological advancements in filtration processes create new opportunities in the coming years.
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Covid-19 scenario:
- The water treatment plants have been either closed or running with less manpower due to lockdown during the Covid-19 pandemic.
- Investments and funding for employing new technologies have been put on hold by governments and private investors. Plans have been revised to adapt to the economic crisis.
- Research and development activities of innovative technologies have been on a standstill due to lockdown.
The report offers a detailed segmentation of the global macrofiltration market based on product, industry vertical, and region. Based on product, the granular micro filter segment accounted for more than one-fourth of the total market revenue in 2019, and is expected to maintain its lead position by 2027. However, the auto backwash filters segment is expected to portray the fastest CAGR of 8.5% during the forecast period.
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On the basis of industry vertical, the water and waste water segment contributed to more than two-fifths of the global market share in 2019, and is anticipated to continue its dominance during the study period. However, the chemical and pharmaceutical segment is estimated to witness the highest CAGR of 8.5% from 2020 to 2027.
Based on region, North America held the highest share in 2019, accounting for more than two-fifths of the total market share, and will maintain its lead position throughout the forecast period. On the other hand, Asia-Pacific is expected to witness the highest CAGR of 7.7% from 2020 to 2027.
Leading players of the global macrofiltration market analyzed in the research include Amiad Water Systems, Danaher Corporation, Ascension Industries, Inc., Mann+Hummel, Filtration Group, Ostwald Filtration Systems GmbH, MTB Technologies Sp. Z O.O., Pentair PLC, Parker Hannifin, and SUEZ water technologies Inc.
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About Allied Market Research:
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 domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
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.