Press release
Refinery And Petrochemical Filtration Market 2024 Industry Insights, Business Growth, Trends And Forecast To 2033
Refinery And Petrochemical Filtration Market
The refinery and petrochemical filtration market size is expected to see strong growth in the next few years. It will grow to $5.94 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to stringent environmental standards, rising global energy demand, focus on sustainable practices, investment in infrastructure upgrades, global economic trends and energy transition. Major trends in the forecast period include digitalization and industry 4.0, advancements in filtration technologies, technological advancements, focus on cost-effective solutions, rising demand for high-efficiency filtration systems .
Market Overview -
Refinery and petrochemical filtration refers to removing impurities from crude oil and petroleum-derived chemicals to ensure product quality and equipment protection while meeting industry standards for purity. The purpose of refinery and petrochemical filtration is to remove contaminants and impurities from crude oil, feedstocks, and final products, ensuring the quality and purity of the output
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Rising Demand For Refined Petroleum Products Energizes The Refinery And Petrochemical Filtration Market
The increasing demand for refined petroleum products is expected to propel the growth of the refinery and petrochemical filtration markets going forward. Refined petroleum products are processed derivatives of crude oil, such as gasoline, diesel fuel, and jet fuel that have undergone purification and distillation to meet specific consumer and industrial needs. Refinery and petrochemical filtration processes are used to enhance the quality of refined petroleum products. Initial filtration ensures crude oil impurity removal, while petrochemical filtration refines the products, making them suitable for a wide range of applications, from fuels to chemicals. For instance, in March 2023, according to Statistique Canada, a Canada-based statistical agency, in 2022, the production of refined petroleum products increased by 0.8% compared to the previous year, reaching a total of 112.3 million cubic meters. This increase was mainly due to kerosene-type jet fuel (+44.7%) and distillate fuel oil (+2.1%). Therefore, the increasing demand for refined petroleum products will drive the growth of the refinery and petrochemical filtration markets.
Competitive Landscape -
Major companies operating in the refinery and petrochemical filtration market report are 3M Company, Eaton Corporation plc, Parker Hannifin Corporation, Atlas Copco, AMETEK Inc., MANN+HUMMEL Holding GmbH, Pentair PLC, ExxonMobil Chemicals Company, Donaldson Company Inc., Pall Corporation, Filtration Group Corp., Burckhardt Compression Holding AG, Camfil AB, Ariel Corporation, Axens SA, Hilliard Corporation, Porvair Filtration Group, Amazon Filters Ltd., Graver Technologies, Blasch Precision Ceramics Inc., Filtration Technology Corporation, Norman Filter Company, Sungov Engineering Private Limited, Filson filter, Compositech Products Manufacturing Inc., RCI Technologies Inc., Brother Filtration, Lenntech B.V., Filtcare Technology Pvt. Ltd., Yixing Huading Machinery Co. Ltd.
Enhancing Efficiency With Glass Microfiber Media For Gas Filtration
Major companies operating in the refinery and petrochemical filtration markets are focused on innovative process filtration solutions, such as liquid-gas coalescers, to enhance efficiency and drainage performance and gain a competitive advantage. A liquid-gas coalescer is a specialized filtration device or system designed to merge tiny liquid droplets suspended in a gas stream into larger droplets, allowing for easier removal through filtration. For instance, in February 2021, Amazon Filters Ltd., a UK-based manufacturer of high-quality liquid and gas filters, launched the SupaSep LGP. The SupaSep LGP is engineered to deliver the superior efficiency and drainage performance required by many high-flow filtration and separation operations. In addition to eliminating impurities, such as liquid-aerosol contamination, well-designed coalescers protect machinery and equipment, save costly unscheduled downtime, and ensure the final purity of output. SupaSep LGP is a coalescing solution for gas turbines, natural gas compressors, lubricating oil recovery, and catalyst beds. It also aids in the recovery of fluids used in natural gas sweetening and dehydration.
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Key Segments -
The refinery and petrochemical filtration market covered in this report is segmented -
1) By Filter Type: Coalescer Filters, Cartridge filters, Electrostatic Precipitator, Filter Press, Bag Filter, Other Filter Types
2) By Application: Liquid-Liquid Separation, Liquid-Gas Separation, Other Applications
3) By End-Users: Refineries, Petrochemical Industry
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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Market Highlights
Industrial filtration is widely used for removing impurities and other contaminations. Industrial filters are used for number of applications including cleaning and treating lubricants, industrial oils, gases, and water. Filters reduce waste disposal costs, lower maintenance time and expense, minimize process downtime, and improve product quality. All these factors are expected to drive the growth of industrial filtration market during the forecast period.
Industrial Filtration market has been…
