Membrane Market to Surpass USD 1086.1 Million by 2030 Owing to the Rising Demand for Water Treatment Solutions
SkyQuest projects that the membrane market will attain a value of USD 1086.1 million by 2030, with a CAGR of 8.5% over the forecast period (2023-2030). The membrane market is primarily propelled by the rising demand for water treatment solutions to address the contamination of water sources by heavy metals, cyanides, and dyes. These pollutants pose significant risks to human health and the environment, necessitating effective treatment methods.
Westford USA, Aug. 23, 2023 (GLOBE NEWSWIRE) — According to SkyQuest, the membrane market is on the point of a significant breakthrough, propelled by its unique technology that effectively utilizes thin membranes to separate and filter liquids, gases, and materials. This revolutionary approach has immense potential, particularly in addressing the global demand for clean water.
Browse in-depth TOC on “Membrane Market”
- Pages – 157
- Tables – 90
- Figures – 76
Membranes serve as barrier films with selective permeability, allowing the passage of specific molecules and particles based on their size. They are categorized as semi-permeable owing to their ability to filter substances selectively. Microfiltration (MF), ultrafiltration (UF), nanofiltration (NF), and other technologies are utilized based on the desired level of filtration and the size range of the particles or molecules being targeted in the membrane market.
Prominent Players in Membrane Market
- The Dow Chemical Company
- Asahi Kasei Corporation
- BASF SE
- DuPont de Nemours, Inc.
- LG Chem
- Toray Industries, Inc.
- Suez Water Technologies and Solutions
- Koch Industries
- Merck Millipore
- Hydranautics (A Nitto Group Company)
- Pentair plc
- Nitto Denko Corporation
- Pall Corporation
- Lanxess AG
- Sartorius AG
- GEA Group AG
- 3M Company
- Parker-Hannifin Corporation
- ALFA LAVAL
- Lenntech BV
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Polymeric Segment is Expected to Grow the Market Due to the Growing Requirement for the Development of Filtering Processes
Polymeric category is projected to experience the fastest CAGR of 9.5% in the membrane market. It is expected to be the fastest-growing segment throughout the forecast period. The polymeric category already held the largest market share for membranes.
The markets in Europe are the second-largest region and a significant membrane market, driven by countries such as Germany, France, Spain, and Italy. The market growth in Europe can be attributed to several factors, including increasing awareness about the issue of water scarcity and the proactive initiatives governments took to protect freshwater sources.
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Water and Wastewater Treatment Segment is Expected to Dominate the Market Due to the Lack of Access to Potable Water
Water and wastewater treatment sector emerged as the leading revenue generator in the market. This sector dominated the membrane market and is expected to continue its rapid growth throughout the forecast period.
Regional markets in the Asia Pacific held the largest share of the global membrane market. This region is anticipated to witness the fastest growth rate during the forecast period. The market expansion in the Asia Pacific is attributed to several factors, including the lack of access to potable water in developing countries.
A comprehensive analysis of the major players in the membrane market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
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Key Developments in Membrane Market
- Toray Industries, Inc. recently introduced a new hollow fiber ultrafiltration membrane module designed for purification and concentration processes in the manufacturing of food and beverages and biotechnology. The company commenced distributing sample products, showcasing their innovation in membrane technology.
- NGK Insulators, a ceramics company from Japan, successfully developed a carbon dioxide separation membrane specifically designed for industrial exhaust gas applications recently. Through testing, the membrane demonstrated an impressive CO2 separation factor approximately five times higher than a previously developed DDR-type zeolite membrane.
Key Questions Answered in Membrane Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market’s future growth?
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