The increasing global industrialization is causing an increase in the need for clean drinking water and is driving the demand for the Membrane Separation Technology market.
New York, Sept. 21, 2020 (GLOBE NEWSWIRE) — 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 the 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 the 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.
The key driver of demand in membrane separation technology is the massive demand for water for industrial growth and life. The increasing demand for the biopharmaceutical industry, along with strict government regulations and sustainability, is also one factor contributing to the forecast period’s growth.
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COVID-19 Impact Analysis
The outbreak of the coronavirus has created great fear and concern regarding contagious diseases. As a proactive measure, more and more individuals and business sectors are implementing innovations that could theoretically minimize or stop the spread of the virus outbreak. Several consumer electronics & appliances companies are investing heavily in their R&D and finding ways to find products for electronics that can kill harmful bacteria and viruses in the airflow built for both household and commercial purposes. Many businesses have already developed product line-ups that claim to be effective against the novel coronavirus.
The COVID-19 pandemic has created a sense of panic among people, increasing the demand for contaminants, and this high health issue from people consuming polluted water and air have expanded the applications of membrane separation technology in purification, food & beverage, pharmacy & medical, automotive, and many more.
Further key findings from the report suggest
- The water & wastewater treatment, medical & pharmaceutical, food & beverage, and industrial products industries are mainly contributing to 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 help the Reverse Osmosis technology sub-segment contribute to 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 sub-segment, 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 the growth of 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 R&D 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.
- Key participants include The 3M Company, The Dow Chemical Company, GE Water & Process Technologies, Merck Millipore, Toray Industries, Asahi Kasei Corporation, Koch Membrane Systems Inc., Danaher Corporation, Hydranautics, and Pentair plc, among others.
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For the purpose of this study, Reports and Data has segmented the Global Membrane Separation Technology Market based on membrane type, technology, application, and region:
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
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/membrane-separation-technology-market
Regional Outlook (Revenue: USD Billion; 2017-2027)
- North America
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
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