Refinery and Petrochemical Filtration Market Forecasts to 2028 – Global Analysis By Filter Type (Coalescer Filter, Cartridge Filter, Filter Press, Bag Filter, Electrostatic Precipitator and Other Filter Types), By Application (Liquid Gas Separation, Liqui

Refinery and Petrochemical Filtration Market Forecasts to 2028 – Global Analysis By Filter Type (Coalescer Filter, Cartridge Filter, Filter Press, Bag Filter, Electrostatic Precipitator and Other Filter Types), By Application (Liquid Gas Separation, Liquid Liquid Separation and Other Applications), By End User and By Geography

According to Stratistics MRC, the Global Refinery and Petrochemical Filtration Market is accounted for $4.3 billion in 2022 and is expected to reach $6.8 billion by 2028 growing at a CAGR of 8.0% during the forecast period. Downstream oil and gas production operations such as refineries and petrochemical filtration are crucial. High-quality fuels and lubricants are made possible by refinery filtration, which eliminates crude oil and feedstocks. Contaminants from chemicals and gases used in plastics and products for the industry are removed using petrochemical filtration.

Market Dynamics

Driver

Implementation of government mandates and policies for environmental protection

Environmental protection rules and regulations aimed at reducing the adverse effects of carbon emissions are becoming more and more significant on a global scale. The adoption of conservation practices, the promotion of non-hazardous materials, and changes to production techniques have been given priority under these guidelines. Additionally, they promote the reuse of materials rather than their disposal as waste, which reduces pollution. As a result, it is anticipated that these laws will increase the demand for filtration systems for petrochemical and refinery applications.

Restraint

Availability of low-cost and inferior-quality filtration products

Prices for petrochemical and refinery filters differ depending on the product type and filter medium. To ensure the quality of the filtrate, numerous production standards are used for filter products. In refineries and petrochemical facilities, industrial filters are used to prevent unplanned operational interruptions by removing contaminants, cutting maintenance costs, and protecting natural resources. These elements have played a role in the industrial filters' high market prices. However, because they offer low-cost maintenance services and alternatives of more severe quality, gray market products pose serious difficulties for brand owners.

Opportunity

Rising shale development activities to enhance shale refining potential

In North America, South America, and the Asia-Pacific area, shale and oil sands are important energy sources. The development of horizontal drilling and hydraulic fracturing technology is responsible for this expansion. Due to numerous encounters and technological advances, the shale business is expanding quickly. Although a substantial quantity of oil and gas is being taken from shale rock formations, there are no restrictions on how much shale oil and gas may be refined globally. As a result, there is an optimistic prospect for infrastructure growth and the application of refinery and petrochemical filters to handle the issues of refining and take advantage of shale oil and gas refining.

Threat

Supply chain constraints

Numerous supply chain issues in the refinery and petrochemical infrastructure sectors might have an effect on output and profitability. The availability of raw materials, such as various filter media, is one of the most significant challenges that manufacturers of filtration products deal with. High-quality filters must be produced using specialized materials, which are frequently in short supply. As a result, producers may experience production delays and additional costs as they must spend more to obtain the required materials. The filtration product business has considerable challenges due to transportation issues. Nevertheless, manufacturers may overcome these obstacles and carry on producing quality products that are crucial to the world economy with careful planning, innovation, and investment.

Covid-19 Impact

Before the epidemic, there was already slowing demand growth, a growing excess, and a declining value pool; these trends have continued to get worse. In addition, the transition to renewable energy sources and a regenerative, or circular, economy will cause fundamental instability in business. The coronavirus had an uneven influence on petrochemical demand across value chains, with packaging demand (notably in food, sanitary goods, and medical applications) remaining strong despite sharp losses in automotive and construction applications.

The bag filter segment is expected to be the largest during the forecast period

Bag filter segment held the largest share over the forecast period. Fluids with a relatively low loading of particles to be removed are filtered using bag filters. The particles settle in the bag after passing through the particle suspension. Bag filters are increasingly being used in the petrochemical and refinery industries because of their excellent filtration capabilities, adaptability, and affordability.

The refineries segment is expected to have the highest CAGR during the forecast period

Refineries segment is projected to witness lucrative growth during the estimation period. The filtration sector of refineries has benefited from significant investments in worldwide refineries. Growing energy consumption and the availability of oil and gas are driving the need for more refining capacity. Modern refinery technology has increased productivity, decreased waste, and increased the yield of refined products. Additionally, investments in filtration products have been fueled by cleaner technology and processes enabled by stricter emissions rules.

Region with largest share

Asia Pacific is projected to hold the largest share throughout the forecasted period. As countries in this region rapidly industrialize, there is a higher need for crude oil and petroleum products, which is increasing investment in the construction of refineries and petrochemical facilities and propelling the Asia-Pacific refinery and petrochemical filtration market. However, in order to attract international investments into the downstream sector, the governments of these nations have also implemented incentives and policy measures.

Region with highest CAGR

Asia Pacific is estimated to witness highest CAGR during the extrapolated period, due to the rising need for petrochemical products, which has driven the expansion of the downstream sector to fulfill the rising demand, the downstream industry is expanding in the region. Additionally, countries in this region benefit from strategically placed refineries which enable them access to supplies of crude oil from the Asia Pacific regions. These are the main driving forces supporting the expansion of the Asia Pacific refinery and petrochemical filtration industry.

Key players in the market

Some of the key players in Refinery and Petrochemical Filtration market include 3M, Amazon Filters Ltd, Camfil AB, Eaton, Filtcare Technology Pvt. Ltd, Filtration Group, Filtration Technology Corporation, Lenntech B.V., Norman Filter Company, Pall Corporation, Parker Hannifin Corp, Pentair Filtration Solutions, LLC, Porvair Filtration Group, Sungov Engineering and W.l. Gore & Associates, Inc.

Key Developments

In September 2022, Parker Hannifin Corporation acquired Meggit which helped in the production of high-quality aerospace solutions and add extensive new capabilities to significantly expand their aerospace technology offering to customers.

In October 2021, Pentair Filtration Solution, LLC launched a new web application that guides the selection of ideal Pentair X-Flow membrane filtration solution and configuration for water and wastewater treatment applications.

In August 2021, Eaton launched four products to expand its offerings and strengthen its revenue. They have been focusing on research and development. The latest product, IFPM 73 fluid purifier system helps to efficiently removes free and dissolved water and gases, and particulate contamination down to 3 µm from light transformer oils to heavy lubricating oils for applications including hydroelectric power, pulp and paper, offshore and marine.

In January 2021, Pall Corporation launched a new product with the help of its research and development, named Supralon hydraulic and lube oil filter element that helps to protect and prolong the life of equipment in hydraulic and lube oil applications.

Filter Types Covered
• Coalescer Filter
• Cartridge Filter
• Filter Press
• Bag Filter
• Electrostatic Precipitator
• Other Filter Types

Applications Covered
• Liquid Gas Separation
• Liquid Liquid Separation
• Other Applications

End Users Covered
• Petrochemical Industry
• Refineries
• Other End Users

Regions Covered
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities,Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements