ALBANY, New York, November 13, 2017 /PRNewswire/ --
Membrane separation technology has emerged as the most important separation technology over the last couple of years. This is because membrane separation technology is free of chemicals, consumes less energy, and operates in an organized manner, which conventional separation techniques lack. Due to the distinct offerings of membrane separation technology, it is increasingly being used for different processes in water management, wastewater and process water treatment, food and beverage, life sciences, and pharmaceutical industries. The technology is also used for separation processes in chemical, petrochemical, and manufacturing industries.
As per estimates of a report by Transparency Market Research (TMR), the global membrane separation systems market will clock a CAGR of 9.3% for the forecast period from 2017 to 2025. Expanding at this rate, the market's valuation of US$28,134.4 mn in 2016 will become US$61,801.9 mn by the end of 2025.
Amongst several driving factors, a significant part of the demand for membrane separation systems originates from municipal corporations. At present, measures for water reuse and wastewater treatment to save wastage of the essential commodity is the consideration of environmental agencies. This has boosted the uptake of membrane separation technologies, which in turn is stoking demand for membrane separation systems.
In particular, emerging economies that are underway rapid industrialization and facing population explosion in water-stressed areas are expected to augment the growth of this market in the upcoming years.
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Apart from this, several governments and metropolitan planners are awakening to the impact in the event of a shortage of water which is an everyday essentiality. This is pushing the need for innovations for water treatment, thereby paving way for the growth of the worldwide market for membrane separation systems. However, on the downside, high establishment and operational costs, insufficient infrastructure, and availability of other water cleaning and treatment procedures are posing a challenge to the growth of membrane separation systems market.
The microfiltration segment, among the key technology segments, held the leading share in the global membrane separation systems market in 2016. By application, the environmental segment holds the leading share among other segments in the membrane separation systems market. Europe held the commanding share vis-à-vis revenue in the global membrane separation systems market among other key regions in 2016.
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Amidst a fragmented vendor landscape in the global membrane separation systems market, large players that operate globally have been observed to hold supremacy in the overall market, as per one of the current reports by Transparency Market Research (TMR). In a typical scenario in this market, small scale vendors operate in regional markets serving a few end-use industries, whereas market leaders such as The Dow Chemical Company and Koch Membrane Systems Inc. not only operate globally but have serve a number of end-use industries. The topnotch companies are also upping spends on research and development to introduce innovative systems.
Pall Corporation, Sartorius AG, 3M, Amazon Filters, Advantec MFS Inc., GE Healthcare, Merck Millipore, Novasep, and TriSep Corporation (Microdyn-Nadir US, Inc.) are to name some other prominent companies in the global membrane separation systems market.
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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SOURCE Transparency Market Research