Pune, India, May 04, 2022 (GLOBE NEWSWIRE) -- The global membranes market size was USD 6.99 billion in 2021. The market is projected to grow from USD 7.38 billion in 2022 to USD 11.46 billion by 2029, exhibiting a CAGR of 6.5% during the forecast period. This information is provided by Fortune Business Insights, in its report, titled, “Membranes Market, 2022-2029.”
According to our analysts, leading corporations are substantially capitalizing on the regional markets to remain ahead of the surging competition in this market.
Interruption in Global Trade and Logistic Happenings to Restrict Market Growth
The unfavorable influence of COVID-19 pandemic triggered a commotion in global trade, manufacturing, and logistics happenings. Termination in production activities has considerably obstructed the economies across the globe, which has ultimately led to the economic stoppage. Interruption in the supply and demand chain of raw materials for producing polymers, involving polysulfones, polyacrylonitrile, and others, pooled with the absence of labor force accessibility is damaging the productivity of the market.
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List of Key Players Mentioned in the Report:
- TORAY INDUSTRIES, INC. (Japan)
- DuPont (U.S.)
- SUEZ (France)
- KOCH (U.S.)
- Pentair plc (U.S.)
- TOYOBA (Japan)
- Hydranautics – A Nitto Group Company (U.S.)
- Pall Corporation (U.S.)
- Seccua GmbH (Germany)
- Synder Filtration (U.S.)
Segments:
By technology, the market is segregated into RO/FO, MF, UF, NF, and others. Based on application, the market is segmented into water & wastewater treatment, food & beverage, gas separation, and others. Water & wastewater treatment has been the primary purpose for developing membranes. In terms of geography, the market is classified into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Report Coverage:
The report focuses on market development and advancements in the industry. Also, the impacts of COVID-19 pandemic on market growth and development are highlighted further in this report. Drivers and restraints affecting market expansion and growth are discussed further in the report along with lucrative opportunities gained by the key players. The regional insights for segmented regions are elaborated further with recent launches introduced by the key market players.
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Drivers and Restraints:
Absence of Fresh Drinking Water to Drive Market Growth
Freshwater for drinking is a fundamental aspect for the existence of human life. With a prompt rise in population, the water problem has only deteriorated and it has become the requirement of the hour to utilize accessible resources proficiently. Progressions in technology have decreased the strain on present freshwater resources. Seawater can be transformed to potable water utilizing this technology. Moreover, desalination plants that use this technology have turned out to be a blessing for people and nations where water resources are constrained.
However, fouling is a main concern and it has unfavorable impacts on its functions. It deteriorates its proficiency and fluidity, leading to augmented energy utilization and tampering the water or stream quality.
Regional Insights:
Asia Pacific to Lead Stoked by Surging Number of Government Regulations Regarding Water
Asia Pacific held the largest membranes market share and was worth USD 2.47 billion in 2021 on the back of China, Japan, India, Australia, and several other South East Asian nations. Developing countries, such as India and China, are the most development-provoking markets in terms of growth.
Europe is the second biggest region and prime market on the back of western European nations involving Germany, France, Spain, and Italy. The growth of the market in Europe is attributable to the rising consciousness concerning the matter of water shortage and programs by the government to safeguard freshwater resources.
In North America, the membranes market growth is predominantly attributed to the surging number of strict guidelines on the treatment of water and wastewater.
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Competitive Landscape:
Critical Business-associated Declarations by Significant Players to Inspire Market Features
Crucial corporations in the market frequently are seen making crucial proclamations about few business-related activities, which influence the market either in an optimistic manner or harmfully. Players launch new products, obtain companies, involve in partnership deals, and engage in contract signing with officials.
Table of Contents:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Trends
- Key developments: Acquisition, Collaboration, Strategic Partnership, and Joint Venture
- Latest Technological Advancements
- Insights on Regulatory Scenario
- PORTER’s Five Forces Analysis
- COVID-19 Impact Analysis
- Supply Chain Challenges
- Steps taken by companies to overcome the COVID-19 impact
- Potential Opportunities due to the COVID-19 pandemic
- Global Membranes Market Analysis, Insights and Forecast, 2018-2029
- Key Findings / Summary
- Membranes Market Size, Analysis, Insights and Forecast – By Technology (Value)
- RO/FO
- MF
- NF
- UF
- Others
- Membranes Industry Analysis, Insights and Forecast – By Application (Value)
- Water & Wastewater Treatment
- Food & Beverage
- Gas Separation
- Others
- Membranes Market Analysis, Insights and Forecast – By Region (Value)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Key Industry Development:
April 2021: KOCH Separation Solutions launched the addition of its novel technology known as INDU-COR HD (High Density) to its tubular membrane assortment, which is created to treat industrial waste streams proficiently.
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