Dublin, Dec. 02, 2024 (GLOBE NEWSWIRE) -- The "Hollow Fiber Membranes Market 2024" report has been added to ResearchAndMarkets.com's offering.
This report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The hollow fiber membranes market size has grown rapidly in recent years. It will grow from $10.97 billion in 2023 to $12.08 billion in 2024 at a compound annual growth rate (CAGR) of 10.2%. The growth observed in the historic period can be attributed to several factors, including increased demand for clean water, rapid industrial growth, expansion of the biotechnology sector, increased applications in water and wastewater treatment, and population growth.
Asia-Pacific was the largest region in the hollow fiber membranes market in 2023. Europe is expected to be the fastest-growing region in the forecast period.
The regions covered in the hollow fiber membranes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the hollow fiber membranes market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The hollow fiber membranes market size is expected to see rapid growth in the next few years. It will grow to $17.88 billion in 2028 at a compound annual growth rate (CAGR) of 10.3%. In the forecast period, growth is expected to be driven by increasing agricultural output, growing demand in the food and beverage industry, rising global water scarcity issues, an increase in diseases, and the growth of biotechnology and chemical industries.
Major trends anticipated during this time include technological innovations, advancements in medical applications, developments in membrane materials, integration with smart technologies, and a focus on energy-efficient solutions.
The hollow fiber membrane market is set to experience growth driven by the increasing demand for water and wastewater treatment solutions. For example, in March 2023, Ireland's Central Statistics Office reported a 1.2% increase in registered domestic wastewater treatment systems, reaching 487,423 in 2022 from 481,694 in 2021, highlighting the growing demand driving the hollow fiber membrane market.
Leading companies in the hollow fiber membranes market are innovating with advanced technologies, such as large membrane area technology, to boost filtration process efficiency and capacity.
In November 2023, Nijhuis Saur Industries partnered with NX Filtration to leverage NX Filtration's nanofiltration technology in innovative mobile water treatment solutions. This partnership aims to address water scarcity and reduce environmental footprints while providing effective water treatment solutions. NX Filtration specializes in hollow fiber membranes, contributing to the advancement of water and wastewater treatment technologies.
Research Scope
Markets Covered:
1) By Filtration Type: Microfiltration; Ultrafiltration; Reverse Osmosis
2) By Material: Polymer; Ceramic
3) By End-User: Water and Wastewater Treatment; Food and Beverages; Biotechnology; Pharmaceuticals and Chemicals; Other End-Users
Key Companies Mentioned: Veolia; LG Chem; 3M Company; Mitsubishi Chemical Group Corporation; Sumitomo Electric Industries Ltd.
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value (USD) in 2024 | $12.08 Billion |
| Forecasted Market Value (USD) by 2028 | $17.88 Billion |
| Compound Annual Growth Rate | 10.3% |
| Regions Covered | Global |
Companies Featured in the Report
- Veolia
- LG Chem
- 3M Company
- Mitsubishi Chemical Group Corporation
- Sumitomo Electric Industries Ltd.
- Asahi Kasei Corporation
- Toray Industries Inc.
- Evonik Industries AG
- Parker Hannifin Corporation
- DuPont de Nemours Inc.
- Kuraray Co. Ltd.
- GEA Group
- Sartorius AG
- Pentair
- UBE Corporation
- Toyobo Co. Ltd.
- Pall Corporation
- Hydranautics
- Applied Membranes Inc.
- Koch Separation Solutions
- Synder Filtration Inc.
- SpinTek
- Memstar Corporation
- JIUWU HI-TECH Membrane Technology
- Daicen Corporation
For more information about this report visit https://www.researchandmarkets.com/r/45nx0g
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