The growing incidence of industrialization globally, causing an increase in the need for clean drinking water, is driving the demand for the market.
The Global Membrane Separation Technology market is anticipated to reach USD 43.14 billion by 2027, according to a new report by Reports and Data. The market is expected to be powered by increased demand for clean drinking water, and environmental initiatives to control carbon emissions and pollutants are expected to drive the market. Rising living status has increased disposable income, and growing health consciousness are some of the listed factors that are expected to drive market growth. The growing population leading to depletion of water supplies and pollution of surface and groundwater bodies is increasing demand for technologies for wastewater treatment and, consequently, demand for membrane separation technology.
The membrane separation technology market is driven by factors such as porosity, durability, permeability, stability, and selectivity. Increasing demand for clean, treated drinking water and obligatory government-imposed legislation encourage large-scale use of clean drinking water in society, thereby fueling consumer demand for membrane separation technology. Continuous and comprehensive growth of the oil gas industry creates opportunities for businesses.
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Top Companies: The 3M Company; The Dow Chemical Company; Suez Water Technologies Solutions; Merck Millipore; Toray Industries; Asahi Kasei Corporation; Koch Membrane Systems Inc.; Danaher Corporation; Hydranautics; and Pentair plc, among others.
Further Key Finding from the Report Suggestion:
- The water wastewater treatment, medical pharmaceutical, food beverage, and industrial products industries are mainly guided by the economy. This market is driven by increasing pharmaceutical and industrial growth in North America and Asia-Pacific.
- The cost-effectiveness and energy-efficient characteristics are assisting the Reverse Osmosis technology in have represented the largest market share. Reverse Osmosis desalination has also become a more reliable option with technological advances and is widely used to desalinate seawater and brackish water.
- Nanofiltration (NF), in the membrane separation technology market is the fastest-growing technology owing to its capability to segregate particulates up to 0.002 ìm.
- An increasing focus on the recycling of municipal and industrial wastewater discharges is expected to drive growth in the market for membrane separation technology
- The Asia Pacific market is estimated to register a CAGR of 10.8% over the forecast period due to industrialization and increased environmental protection regulations
- In recent years, all of the major market players have invested heavily in RD initiatives, leading to the invention of several innovative products. Major players aim to enhance their product portfolio by strategic mergers and acquisitions of small and medium-scale companies. In the coming years, therefore, an intense rivalry among players is expected.
- In April 2019, AXEON Water Technologies decided to appoint ADEKHA Ltd. as its approved Middle East and Africa distributor and strategic partner. This nomination should help AXEON broaden its footprint in Nigeria and West Africa.
Consumers are placing a higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had considerable impact on chemical end sectors, particularly in the automobile and construction industries. COVID-19 has exacerbated the situation by lowering the automobile and construction industries (as well as many others) and disrupting current supply lines.
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The global Membrane Separation Technology market is segmented into:
Membrane Type Outlook (Revenue: USD Billion; 2017-2027)
Technology Outlook (Revenue: USD Billion; 2017-2027)
- Reverse Osmosis
Application Outlook (Revenue: USD Billion; 2017-2027)
- Food Beverages
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
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