Market for filtration media to rocket in next decades, says report
15 Jan 2000
The world market for filtration media will increase more than four-fold in the early years of next century, growing from $17billion in 1998 to over $75billion by 2020. This startling growth - only the `most likely' scenario - is predicted in a MacIlvaine Company report*. The most optimistic case sees the market reaching a staggering $1.4trillion.
Growth in population and GDP will fuel the growth, but the scenarios for the various end-user sectors differ widely. The power sector has relatively low potential and might even decline because of ever-stricter limits on CO2 emissions. The pharmaceutical sector, on the other hand, could grow from its current level of $2.2billion to nearly $700billion, if biotechnology reaches the higher levels of predictions. Even the most conservative estimate sees the sector reaching $15billion.
Other sectors which could see soaraway growth include electronics, where technical breakthroughs could see the filtration market rise from $822million to $410billion. More conservatively, the market for water supply filtration will double as desalination becomes more widespread.
* `World filter media market in 2020', McIlvaine Company, www.mcilvainecompany.com
