Global Water Filter Market - 2024-2031

Global Water Filter Market - 2024-2031

Global Water Filter Market reached US$ 14.7 Billion in 2023 and is expected to reach US$ 24.3 Billion by 2031, growing with a CAGR of 6.5% during the forecast period 2024-2031.

The F&B industry is currently witnessing growing popularity of non-alcoholic adult beverages. Seltzers, non-alcoholic beers and cocktail mixers are becoming a popular choice for sober enjoyment among young adults. The popularity of these beverages is near universal, with developing and developed countries alike developing a preference for these beverages. As producers seek to ramp up production, there will be a greater demand for water filters from the F&B industry.

The abject slow pace of innovation has the potential to cripple the long term growth prospects of the global market. Advances in new filter materials and technologies are harder to come by and face a slew of challenges while getting ready for mass commercialization. Without value-driven growth, the market risks stagnation and a slow decline.

Dynamics

Expansion of Piped Drinking Water

According to the most recent data available from the world health organization (WHO), nearly 2.2 billion people globally do not have access to piped drinking water. Most of this population is concentrated in Africa and Asia-Pacific. However, in recent years, governments have made important strides in providing last-mile access to potable water with financial backing from multilateral organizations.

For example, in August 2023, the World Bank financed the construction of water treatment plant and extensive water pipelines to provide drinking water for nearly half a million people in Maputo, the capital of Mozambique in southeastern Africa. As piped drinking water expands to previously unserved communities, the demand for water filters will only continue to increase in the coming years.

Tightening Regulations on Wastewater Disposal

Emerging countries have urbanized and developed so quickly that their sewage systems are ill-suited to handle the surge in waste generated. A lot of times, the human waste is discharged completely untreated right into water bodies. Due to lax regulations, many industries also routinely dump toxic waste directly into lakes and rivers. Alarmingly high levels of water pollution have forced governments to take action and clamp down on wastewater dumping.

Apart from implementing fines and other penal measures, governments have also stepped up investment in expanding wastewater treatment facilities. Significant capital investment is being devoted to upgrading existing plants with the most modern treatment technology, including the installation of high-tech water filters that can filter out toxic nanoparticles and bacteria. With regulations on wastewater disposal becoming increasingly tight, the demand for high-performance water filters is likely to grow in the future.

Long Service Life of Modern Water Filters

Advancements in material science and production technologies has drastically improved the quality of modern water filters. Whereas previous generation filters required replacement every three to six months, modern water filters can fo for six to twelve months of high-intensity usage before requiring a replacement. With the longer replacement cycles, the cumulative demand for new filters has gone down significantly.

Many water purifier manufacturers are gradually shifting towards micro-mesh filters that are non-replacable and only require maintenance cleaning every three to four months. With water filters basically lasting the entire service life of the purifying system, it could potentially hamper the future growth of the market.

Segment Analysis

The global water filter market is segmented based on media, application and region.

Improving Water Quality Generates Large Scale Demand for Municipal Applications

Municipal water treatment will continue to have the largest share of the global market, especially as developing countries increase their water treatment capacity. Even in developed countries, there has been a concerted effort at regional and national levels to upgrade dilapidated municipal water treatment plants.

The food and beverage industry will have the second-largest market share, mainly due to the expansion of product portfolios of major companies. With rapidly growing rates of urbanization, the demand for convenient, ready-to-eat packaged foods and nutrition beverages has risen considerably.

Geographical Penetration

Asia-Pacific Will Continue to Generate Large-Scale Demand

Asia-Pacific is a mix of developing and underdeveloped countries. The overall economic development of backward countries will be a key factor in raising demand for water filters over the long term. Many national governments are actively pursuing schemes to expand basic utility services to the most deprived sections of their populations. For example, the Indian government has launched the Jal Jeevan Mission, which aims to achieve 194 million household piped water connections by 2024.

Apart from India, other emerging countries like Nepal, Bangladesh, Cambodia and Vietnam are also expanding their respective national schemes to expand access to piped drinking water. The overall success of these scheme is fraught with challenges, however, the trend is clear that the demand for water filters will continue rising over the long term.

COVID-19 Impact Analysis

With the COVID-19 pandemic creating heightened awareness around health and hygiene, demand for water filters shot up considerably. Companies also began extensive marketing campaigns highlighting the anti-microbial properties of their filters. However, most producers had difficulty in raising production due to raw material and labor shortages from pandemic restrictions.

The post-pandemic period saw a gradual rebound in industrial demand, especially in the F&B industry. Players are also augmenting market growth with new product launches that were postponed by the pandemic. Although the global market had to navigate a short period of volatility, its long-term growth prospects remain unaffected by the pandemic.

Russia-Ukraine War Impact Analysis

Sanctions and trade embargoes cut off Russia from western-made water filters and spare parts, leading local dealers to raise prices on the remaining stock. A weakening of the ruble and price increases had a multiplier effect which drastically curtailed water filter demand. Many companies substituted western made water filters with their Chinese versions, although there were shortfalls in quality and performance.

As Russia adjusted to the sanctions, the government signed a law allowing local companies to undertake ‘parallel imports’ of western-made goods through third countries. Less than a year after the war in Ukraine started, western made filters were back in the Russian market, albeit with increased prices. Demand for water filters has gradually recovered, although it still remains below pre-war levels.

By Media
• Single Filter Media
• Dual Filter Media
• Cartridge
• Multimedia
• Others

By Application
• Municipal
• Food & Beverage
• Chemicals & Petrochemicals
• Pharmaceuticals
• Oil and Gas
• Others

By Region
• North America
U.S.
Canada
Mexico
• Europe
Germany
UK
France
Italy
Spain
Rest of Europe
• South America
Brazil
Argentina
Rest of South America
• Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
• Middle East and Africa

Key Developments
• In September 2023, Indian regulatory authorities have made BIS (Bureau of Indian Standards) certification mandatory for all water filter and its associated components that are sold in the Indian market.
• In January 2024, researchers from University of Texas in U.S. published a paper detailing the development of a new novel injectable water filter. The filter is fabricated from hydrogel and has micro-porous membranes capable of filtering out most common microbes.

Competitive Landscape

The major global players in the market include A.O. Smith, Eaton, Suez Group, Veolia Group, Evoqua Water Technologies LLC, Mann+Hummel, Pall Corporation, Axeon Water Technologies, Atlas Filtri and Lydall Industrial Filtration.

Why Purchase the Report?
• To visualize the global water filter market segmentation based on media, application and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of water filter market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global water filter market report would provide approximately 54 tables, 47 figures and 185 Pages.

Target Audience 2024
• Water Treatment Companies
• Specialty Chemical Manufacturers
• Pharmaceutical Manufacturers
• Industry Investors/Investment Bankers
• Research Professionals