Membranes Market projected to reach US$ 10.1 Billion by 2027 Globally, at a CAGR of 9.7%, says MarketsandMarkets™
Chicago, Dec. 05, 2022 (GLOBE NEWSWIRE) -- The global Membranes Market size is projected to reach USD 10.1 billion by 2027 from USD 6.4 billion in 2022 growing at a CAGR of 9.7%, as per the recent study by MarketsandMarkets™. The increasing demand for membranes in water & wastewater treatment and various industrial processing applications is driving the global membranes market. Stringent regulations towards environment and wastewater treatment also supports the growth of the membranes market. Further, water desalination and rising water scarcity are expected to provide the growth opportunities to the membrane manufacturers, especially in Asia Pacific and the Middle East & Africa regions.
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Browse in-depth TOC on "Membranes Market”
202- Market Data Tables
39- Figures
216- Pages
List of Key Players in Membranes Market:
DuPont (US)
Suez Water Technologies & Solutions (France)
Mann+Hummel (Germany)
Hydranautics (US)
LG Chem Ltd. (South Korea)
Pentair (UK)
Koch Separation Solutions (US)
Toray Industries Inc. (Japan)
Pall Corporation (US)
Asahi Kasei Corporation (Japan)
3M (US).
Drivers, Restraints, Opportunities and Challenges in Membranes Market:
Drivers: Stringent wastewater regulations
Restraints: High capital costs
Opportunity: Increasing water scarcity
Challenges: Issue related to lifespan and efficiency of membranes
Key Findings of the Study:
Based on material, polymeric segment is estimated to be the fastest-growing segment in the overall membranes market
Based on technology, RO segment is projected to be the largest in the membranes market during the forecast period
Based on application, industrial processing is estimated to grow at the highest growth rate in the membranes market
Based on region, Asia Pacific to account for the highest market share in the membranes market during the forecast period
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Based on material, polymeric segment is estimated to be the fastest-growing segment in the overall membranes market
Polymeric segment is projected to grow at the highest growth rate in the membranes market. Various polymers used for the membrane construction include fluorinated polymers, polyethersulfones, and polyamides. Polymeric membranes are largely used in various applications as they are easy to operate and provide good selectivity. Further, these membranes are cost effective than that of ceramic membranes.
Based on technology, RO segment is projected to be the largest in the membranes market during the forecast period
RO membranes are utilized in the wastewater treatment for the removal of salts and pollutants effectively. They are majorly constructed from polyamides, cellulose acetate, and nitrocellulose, and the pore size of these membranes is less than 0.0001 microns. Further, RO membranes are also used in industrial processing applications in several end use industries including food & beverage and pharmaceuticals.
Based on application, industrial processing is estimated to grow at the highest growth rate in the membranes market
Based on application, industrial processing segment is projected to grow at a higher growth rate than that of water & wastewater treatment, in the membranes market. Membranes are utilized in various industries such as pharmaceuticals, chemical & petrochemical, food & beverage, textile, pulp & paper, power, and oil & gas. The increasing demand from these industries will drive the membranes market.
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Based on region, Asia Pacific to account for the highest market share in the membranes market during the forecast period
Asia Pacific is projected to be the largest and fastest-growing market for membranes between 2022 and 2027. Presence of emerging economies including China and India, growing population and urbanization, and increasing industrialization are some of the factors driving the membranes market in Asia Pacific. Further, stringent government regulations and increasing awareness towards wastewater treatment is driving the demand of membranes.
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