Pune, India, Jan. 31, 2022 (GLOBE NEWSWIRE) -- The global membranes market is expected to reach USD 10.73 billion in 2028, exhibiting a CAGR of 6.3% during the forecast period. The growth is anticipated to be swelled by its increasing usage in the pharmaceutical and biomedical industries. They help in lowering the concentration of effluent stream and recovering significant substrate or intermediate. Fortune Business Insights™ gives this information in a published report titled, “Membranes Market, 2021-2028.” The report further mentions that the market size was USD 6.77 billion in 2020 and reached USD 6.99 billion in 2021.
COVID-19 Impact:
The outbreak of the COVID-19 pandemic has disrupted worldwide trade, industry, and logistics operations. The halt in industrial activity has had a substantial influence on economies worldwide, resulting in an economic downturn. For example, the Centre for Monitoring Indian Economy (CMIE) predicts that India's unemployment rate was over 27% in the first week of May 2020, owing to tremendous economic stress.
To combat the spread of the infection, the government implemented a number of restrictions and a lockdown, which resulted in a temporary halt in production.
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List of Key Players Profiled in Membranes Market 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.)
Segmentation
By technology, the market is segmented into NF, UF, MF, RO/FO, and others. Based on application, it is classified into gas separation, food & beverage, water & wastewater treatment, and others. Regionally, it is clubbed into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Report Coverage
The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.
Drivers and Restraints-
Rising Environmental Concerns to Accelerate Growth
Rapid industrialization and urbanization, especially in developing countries, resulting in water pollution. Therefore, the strain on water resources is surging. Several countries' governments and regulatory bodies are implementing stringent norms and laws regarding industry discharge to control water pollution. The increasing environmental concerns have thus, compelled a large portion of the industries to adopt membrane-based technology for curbing the level and severity of pollutants in their discharge streams. They are presently trying to comply with the regulations. Membranes play a vital role in providing zero liquid discharge (ZLD). It is helping the industries in lowering the environmental impact. However, the fouled membrane can have harmful effects on its operations. This factor may obstruct the membranes market growth during the forthcoming years.
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Regional Analysis-
Various Planned Desalination Projects in India & China to Favor Growth in Asia Pacific
Geographically, Asia Pacific procured USD 2.37 billion in 2020 in terms of revenue. This growth is attributable to the major contributions of countries such as Australia, India, Japan, and China. Japan is considered to be one of the largest producers of membranes globally. Several planned desalination projects in India and China are set to boost the growth of the market in this region. Chennai in India, for instance, houses two desalination plants. Each has a capacity of 100 million litres per day (MLD). The third plant is set to begin operations in 2021. Europe is in the second position owing to the contributions of Italy, Spain, France, and Germany.
Competitive Landscape-
Key Players Aim to Strengthen Their Positions by Acquiring Other Enterprises
The market is fragmented with the presence of over a thousand integrators and manufacturers. They are striving to adopt the strategy of mergers and acquisitions and new product development to strengthen their position in the market. Below are a couple of the latest industry developments:
- March 2020: Toray, a multinational corporation headquartered in Japan announced that its TORAYFIL™ UF and ROMEMBRA™ RO membranes were chosen for a new seawater desalination facility. It is supposed to be Brazil’s largest plant and is set to be operational by the fourth quarter of 2020.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Emerging Trends
- Key Insights
- Key Emerging Trends – For Major Countries
- Industry SWOT Analysis
- Regulatory Analysis
- Recent Industry Developments - Policies, Partnerships, New Type Launches, and Mergers & Acquisitions
- Qualitative Insights – Impact of COVID-19 on Global Membranes Market
- Supply Chain Challenges
- Steps taken by Government/Companies to overcome this impact
- Potential opportunities due to COVID-19 outbreak
TOC Continued…!
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