Asia-Pacific, Middle East and Africa Macrofiltration Market Growth
Asia-Pacific, Middle East, and Africa Macrofiltration Market Expected to Reach $4.4 Billion by 2026
PORTLAND, OREGON, UNITED STATES, March 23, 2023 /EINPresswire.com/ — The Asia-Pacific, Middle East and Africa Macrofiltration market was valued at $2.6 billion in 2018 and is projected to reach $4.4 billion by 2026, at a CAGR of 6.7% from 2019 to 2026. The increase in usage of macrofiltration in water purification & wastewater treatment and government regulations associated with water pollution are Asia-Pacific, Middle East, and Africa macrofiltration market trends observed in recent years. Growth in the biopharmaceutical industry, rise in population, and rapid industrialization across emerging economies are other factors that supplement market growth. However, high initial investment, lack of funds in developing countries, and strict government regulations associated with the validation of filtration procedures restrict the growth of the Asia-Pacific, Middle East, and Africa macrofiltration market.
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Based on type, the Asia-Pacific, Middle East, and Africa macrofiltration market analysis is done into the granular micro filters, filter press filters, leaf tubular and press filters, bag filters, belt filter presses, auto backwash filters, and others. The auto backwash filter segment is expected to grow with a CAGR of 9.3% during the forecast period. Rising demand for filtered water in the food & beverage industry and residential sector to maintain product safety is driving the growth of the market. However, the high cost of auto backwash filters and high maintenance cost is hampering the growth of backwash filter. Furthermore, emerging trend such as increasing water treatment plants in Asia-Pacific is estimated to provide lucrative growth opportunities to the market.
Based on industry vertical, the market is segmented into water and wastewater, chemical and pharmaceutical, mining and metal, food and beverage, paper and pulp, and others. The rise in the use of drum and disk filters in mining applications is boosting the macrofiltration market for the mining industry. Based on region, the market is analyzed across Asia-Pacific, the Middle East, and Africa. Asia-Pacific holds the major share of the macrofiltration market in 2019. Macrofiltration membranes are used for the treatment of municipal wastewater to clean and recycle it before using it for drinking as well as sanitation. Also, macrofiltration finds applications in the chemical industry and is used to purify process streams. The demand for macrofiltration is expected to increase due to the significant expansion of the chemical industry across India, China, and Japan. In addition, macrofiltration is widely used in the dairy industry for lactose concentration and demineralization. The rise in demand for dairy products in emerging economies such as India and China is anticipated to drive the Asia-Pacific, Middle East, and Africa macrofiltration market growth in the region.
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Market players have adopted agreement, partnership, and expansion as their key developmental strategies to gain a competitive advantage in the market. The key players operating in the Asia-Pacific, Middle East, and Africa macrofiltration industry include Amiad Water Systems, Ascension Industries, Inc., Danaher Corporation, Filtration Group, Mann+Hummel, MTB Technologies Sp. Z O.O., Ostwald Filtration Systems GmbH, Parker Hannifin, Pentair PLC, and SUEZ water technologies Inc. In order to stay competitive, these market players are adopting different strategies such as product launches, partnership, mergers, and acquisitions. For instance, SUEZ acquired GE Water & Process Technologies. This acquisition reinforced the company’s geographical position and added a brand to its product portfolio.
Key Findings Of The Study
– The water and wastewater segment was the highest contributor in the Asia-Pacific, Middle East, and Africa macrofiltration market size, and is estimated to grow at a CAGR of 6.6% during the forecast period.
– Asia-Pacific is anticipated to dominate the Asia-Pacific, Middle East, and Africa macrofiltration market share during the entire forecast period.
– The granular micro filter segment was the highest contributor to the market and is estimated to grow at a CAGR of 5.7% during the forecast period.
– Auto backwash filters and belt filter press are expected to witness considerable CAGRs of 9.3% and 6.9%, respectively, during the forecast period.
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