Refinery and Petrochemical Filtration Market to Show Robust Growth in Near Future (2024)

Refinery and petrochemical filtration are essential processes in downstream oil and gas production. Refinery filtration purifies crude oil and feedstocks, creating high-quality fuels and lubricants. Petrochemical filtration eliminates contaminants from chemicals and gases used in plastics and industrial goods. Filters are crucial to guarantee the quality and purity of final products while minimizing environmental impact and reducing operational costs.

The global refinery and petrochemical filtration market is estimated to grow from USD 4.6 billion in 2023 to USD 6.1 billion by 2028, at a CAGR of 6.0% during the forecast period.

Refineries are one of the major application areas of refinery and petrochemical filtration. Refineries would continue to grow exponentially as a result of high requirement of fuels and other the rising energy demand. Additionally, the transportation sector is growing massively, increasing the need for fuels. This is anticipated to enhance the refinery and petrochemical filtration market.

High investments in global refineries have positively impacted the filtration market for refineries. The need for increased refining capacity is driven by growing energy demand and oil and gas supply. Advancements in refining technology have improved efficiency, reduced waste, and improved the yield of refined products. Stricter emissions regulations have driven cleaner technologies and processes, fueling investments in filtration products.

North America is expected to be the largest refinery and petrochemical filtration market. Oil and Gas Industries in North America is constantly evolving, with new developments and emerging trends. Some key trends such as the growth in the energy consumption of the region, coupled with development of oil and gas production and refining capacities drive the refinery and petrochemical filtration market.

Key Market Players:

Some of the key players in the refinery and petrochemical filtration market are 3M (US), Pall Corporation (US), Parker Hannifin Corporation (US), Eaton (Europe), and Pentair Filtration Solutions, LLC (US).