The global filtration paper market is set to enjoy a valuation of US$ 2.3 Billion in 2022, and further expand at a CAGR of 4.6% to reach US$ 3.6 Billion by 2032. The sales of filtration paper are anticipated to bolster with the top 5 companies estimated to hold around 15 to 20% of sales by 2022.
Based on the pulp type, the hardwood segment is projected to remain the leading segment and is estimated to register a CAGR of 4.9% from 2022 to 2032. Filtration paper is expected to gain traction on the back of rising applications in diverse sectors such as healthcare, biotechnology, food & beverage, and others.
These papers are used as a purifier in research applications across the aforementioned industries. Filtration papers are also now extensively used in breweries for malt filtration. However, as per the study, filtration paper is expected to witness an uptick in the healthcare sector due to the growing demand for research for dealing with blood-borne pathogens and bacteria.
Another factor driving the sales of filtration paper includes the growing popularity of filtration paper as a reliable and cost-effective filtration medium. Additionally, the rising awareness of the importance of water and air quality is expected to fuel the demand for filtration paper over the forecast period.
According to American Forest & Paper Association (AF&PA), pulp is a renewable and recycled raw material that is made from trees. Pulp is one of the most widely used materials, used in everything from plain paper to filter paper. The cost-effectiveness of the pulp is attracting numerous end users to leverage the efficiency and accuracy of filtration paper to gain revenue.
Newly released data from the analysis shows that global demand of the overall market enjoyed year-on-year (YoY) growth of 4.2% in 2021 to a total of US$ 2.2 Billion. The qualitative paper segment by product type is projected to grow 1.5 times from 2022 to 2032.
According to Future Market Insights (FMI), the revenue totaled US$ 2.2 Billion in 2021. With the propelling demand for purifiers in various industries, the filtration paper is estimated to witness an incremental billion $ opportunity during the forecast period (2022 to 2032). A new forecast by FMI anticipates that the filtration paper is projected to create an absolute incremental growth opportunity of US$ 1.4 Billion
How Does Filtration Paper Market Historic and Future Outlook Compare?
The sales in the market experienced steady growth at a CAGR of 4.1% during the historic period, reaching US$ 2.2 Billion by the end of 2021. Filtration paper is a type of paper that is used to filter out impurities from a liquid or gas. A semi-penetrable paper barrier placed vertically to the flow of liquid or gas is called filtration paper.
It is used to distinguish small hard elements from liquids or gases. The raw material of filtration paper can be made up of different paper pulps such as hardwood and softwood. Therefore, filtration paper is becoming popular in the packaging industry. Overall, the demand in the market is projected to increase by 1.7x between 2022 and 2032.
With the growing application of filtration paper in the healthcare, industrial, and food & beverage industries, sales are expected to burgeon at a rapid pace over the forecast period. Hence, key players are investing in research to develop products with advanced technology to capitalize on the growing demand.
For instance, in 2019, CycloPure Inc., a leading player in water purification technologies, announced the launch of DEXSORB on to filter papers, a widely used media format in consumer water filtration products. The company claimed that pleated filter papers are a common and widely accepted method to provide adsorption in commercial filter cartridge products. A slew of such product launches and rising acceptance from end users will drive the demand in the market.
How Big is the Market for Filtration Paper in India?
Increasing Application in Paper Industry to Bolster Filtration Paper Sales
The overall sales of paper are increasing due to its wide usage in the packaging industry and its lightweight, flexibility, durability, and cost-effectiveness. The utilization of filtration paper in the packaging industry can be found in multiple sectors such as food & beverage, healthcare, laboratories, automotive, and cosmetics.
With this high growth rate, currently, the Indian paper industry holds 5% of the global paper production, according to the Indian Paper Manufacturers Association (IPMA) the turnover of the paper industry is US$ 9.4 Billion. The huge scale production of the paper provides the much-needed boost for the expansion of filtration paper across India.
How will Demand Filtration Paper Surge in China?
Low Manufacturing Cost and Demand from Paper Industry to Propel Filtration Paper Demand
As per Future Market Insights (FMI), China is considered to be the world’s leading producer of paper. China is one of the biggest producers of filtration paper. Growth in the market is attributed to the easy availability of paper and its raw material will boost the market. Further, the low cost of the manufacturing process is creating a conducive environment for leading players. As per the study, sales of filtration paper across China are anticipated to grow at 5.1% CAGR over the upcoming decade.
· In May 2022, Merck KGaA expanded its production capacity in France as part of new Millipore® CTDMO services.
· In May 2022, Hollingsworth & Vose signed an agreement with I.W. Tremont to market and distribute H&V Trupor®.
· In May 2022, Ahlstrom-Munksjö invested in a new lamination capability in South America to support filtration customers.