New York, July 26, 2022 (GLOBE NEWSWIRE) -- As per Persistence Market Research’s latest industry analysis, global membrane filtration market growth value was US$ 20.3 Bn in 2021 and the market is projected to exhibit a noteworthy CAGR of 7.1% over the forecast period (2022-2032).
The membrane filtration market is growing due to the increased application of membrane filters in industrial biotechnology. Furthermore, the increasing use of large-molecule biopharmaceuticals has boosted the demand for membrane filters in industrial sectors.
Membrane filtration is being embraced in the production of biofuels and is being integrated into bio-refineries to reduce the overall cost of energy, raise valuable product recovery, and reduce the amount of waste. There is a rise in chemical processes that involve obtaining optimum yields from fermentation chemicals such as amino acids, organic acids, vitamins, enzymes, and polymers. This increased application in industrial biotechnology is expected to drive the demand growth of membrane filtration over the coming years.
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Key Takeaways from Market Study
- Microfiltration is the leading segment by filter type and accounted for 32.4% market value share in 2021.
- By end user, wastewater treatment is leading the market and is expected to continue to do so, expanding at a CAGR of 6.3% during the forecasted years.
- North America is the leading regional market with an expected value share of 24.1% by 2032.
- Europe follows next with an expected value share of 20.8% by the end of 2032.
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“With the rising usage of membrane filtration to increase the shelf life of food, manufacturers are coming up with robust membrane microfiltration units. Rising government expenditure for wastewater management is also set to propel the sales of membrane filtration across the world,” says an analyst of Persistence Market Research.
Market Competition
The market for membrane filtration is fragmented and several local, emerging, and established players are operating within the market. Key players have initiated acquisitions as well agreements with other companies to continue their dominance.
- In February 2022, Sartorius closed the acquisition of the Novasep chromatography division through its subgroup Sartorius Stedim Biotech, following approval by the U.S. Federal Trade Commission.
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- In September 2021, DIC entered into a strategic partnership with DuPont in the water treatment business with the aim of broadening its sales channels in Asia, the United States, and Europe.
- In April 2021, Evoqua Water Technologies completed the acquisition of Water Consulting Specialists, Inc., which strengthened Evoqua’s portfolio of high-purity water systems and enabled the company to further expand in key industrial markets.
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What Does the Report Cover?
Persistence Market Research offers a unique perspective and actionable insights on the membrane filtration market in its latest study, presenting a historical demand assessment of 2017 – 2021 and projections for 2022 – 2032.
The research study is based on filter type (ultrafiltration, microfiltration, nanofiltration, chromatography, reverse osmosis) and end user (wastewater treatment, healthcare, food & beverages, others), across seven key regions of the world.
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