NEWS RELEASE July 2020
Filtration Revenues Could Triple by 2022
The filtration industry can be proactive and provide solutions to mitigate COVID or it can be reactive and face the possible consequences of reduced economic activity for years to come.
The present market is $97 billion and is segmented into seven product areas.
The cartridge filter market is $20 billion. Twenty-five percent is pharmaceutical and health care which will not be negatively impacted by COVID. Fifty percent is in metals, electronics, power, oil and gas and other industries where COVID is lowering activity. Twenty-five percent is in commercial and residential use which could be negatively impacted by acceleration of the pandemic.
Air filtration is a $10 billion market with most areas negatively impacted by COVID. The pharmaceutical and healthcare sectors are the exceptions. A proactive approach will substantially increase revenues in commercial and residential air filtration.
Fabric filters (air pollution control) represent a $13 billion market which is mostly adversely impacted by COVID. The major purchasers include steel, mining, power, and cement companies.
Liquid filtration is an $8 billion market and includes large filter presses and belt filters used in mining, chemicals, and wastewater. Most of the applications are negatively impacted by reduced economic activity.
Crossflow membranes (RO, UF, MF) is a $13 billion market with one third of the market in desalination. Pharmaceutical and health care are growing segments.
The mobile filter market is a $30 billion market which is negatively impacted by loss in new automobile production. Upgrading of cabin air filters to deal with COVID is a minor offsetting factor.
Masks and respirators: the market for masks was less than than $3 billion at the start of 2020. Assuming that N80 masks are required in the future and assuming there is a washable version reducing mask cost to $0.25 per person per day and that 2 billion people are using these masks, the daily mask revenue will be $500 million and annual revenue would be $182 billion
With a reactive filtration industry 2022 revenues could be slightly higher based on increased mask sales offsetting shrinkage in other segments.
With a proactive filtration industry revenues could triple by 2022. Most of the major filter companies including those who have never been involved with masks are now involved. New media materials can assure increased comfort and efficiency at affordable cost. Use of directional air flow and high efficiency filters can result in efficient COVID mitigation in commercial, residential, and industrial facilities.
The filtration industry needs to be proactive. It has taken six months for WHO to even concede that small COVID aerosols are a major transmission source. Partitions are being mandated without regard to related air turbulence. Governments, suppliers, and the public all need access to the latest insights and developments. McIlvaine is providing a program entitled Coronavirus Technology Solutions with this goal in mind. Click here for more information.
For more information on McIlvaine Market Reports in each filtration area click on markets at www.mcilvanecompany.com