Membranes Market Growing at a CAGR of 10.3% During 2016 to 2021 - ReportsnReports
20 Apr, 2017, 02:30 BST
PUNE, India, April 20, 2017 /PRNewswire/ --
The global membranes market size is projected to reach $11.95 Billion by 2021, at a CAGR of 10.3%. The membranes market has been witnessing significant growth in recent years, and this growth is expected to persist in the coming years as well with Asia-Pacific is the largest membranes market.
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The global membranes market is projected to reach USD 11.95 billion by 2021, at a CAGR of 10.3%. Stringent environmental regulations and standards for drinking water and industrial wastewater treatment along with desalination process are expected to increase the membranes market demand. The major restraint for the market is the requirement of high capital which makes it difficult for new players to enter the market.
Based on type, the membranes market is segmented into polymeric, ceramic, and other membranes, which have further classifications. The other membranes include liquid and ion exchange membranes. The polymeric segment dominated the membranes market due to its extensive application in the water & wastewater treatment, medical & pharmaceutical, food & beverage, and industrial processing sectors. The ceramic segment expected to witness the highest growth rate between 2016 and 2021. The ceramic membrane technology has witnessed a significant growth, with an increase in the number of applications in the last two decades. High flux rate and high operating temperature characteristics of ceramic membranes are the prime factors expected to boost the segment's high growth in the membranes market between 2016 and 2021.
Based on technology, the membranes market has been segmented into reverse osmosis (RO), ultrafiltration (UF), microfiltration (MF), nanofiltration (NF), pervaporation, gas separation, dialysis & electro dialysis, and others. Among these, the RO segment accounted for the largest market share due to its cost effective nature. NF is estimated to be the fastest growing segment owing to the increasing usage of this technology to separate trace amounts of salts and other dissolved solutes from industrial wastewater.
Water & wastewater treatment, industrial processing, medical & pharmaceutical, food & beverage, and industrial gas processing are some of the major application segments of the membranes market considered in the report. In 2015, the water & wastewater treatment segment accounted for the largest market share, followed by food & beverage, industrial processing, medical & pharmaceutical, and others. The growing demand for water desalination units and brackish water treatment is the major contributing factor for the water & wastewater treatment segment's large share. However, the medical & pharmaceutical application segment is projected to grow at the highest CAGR from 2016 to 2021. The consumption of membranes is increasing in the medical & pharmaceutical application due to various properties offered by them, which include high selectivity, increased reliability, excellent permeability, and cost-effectiveness.
Ceramic membrane is the fastest-growing type segment in the membranes market. These membranes possess high porosity, high permeability, defined pore size, and good mechanical properties, which make them suitable for use in a wide range of applications, such as water & wastewater treatment, medical & pharmaceutical, industrial processing, and food & beverage.
The Asia-Pacific region is the largest as well as the fastest-growing membranes market. High economic growth rate, growing manufacturing industries, cheap labor, increasing foreign investments, and rise in the applications of membranes across water & wastewater treatment, medical & pharmaceutical, industrial processing, and food & beverage industries are some of the major factors expected to fuel the growth of the market in Asia-Pacific. The growth of the Asia-Pacific membranes market is expected to be driven by the region's major membranes producing countries, such as China, India, and Japan.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted.
The breakdown of primary interviews is given below.
- By Company Type: Tier 1 - 33%, Tier 2 - 60%, and Others - 7%
- By Designation: C level - 56%, Director level - 33%, and Others - 11%
- By Region: North America - 25%, Europe - 17%, Asia-Pacific - 42%, Middle East & Africa - 8%, and South America - 8%
Order a copy of Membranes Market by Type (Polymeric, Ceramics), Technology (RO, UF, MF, NF, Pervaporation, Gas Separation), Application (Water & Wastewater Treatment, Food & Beverage, Medical & Pharmaceutical, Industrial Gas Processing), Region - Global Forecast to 2021 research report at http://www.reportsnreports.com/purchase.aspx?name=294917 .
Though the membranes market is growing at a significant rate, a few factors such as the high price of raw materials, shift of the end-use market from developed countries to emerging countries, and the rising cost of production hinder the growth of the market, globally.
The key companies profiled in this report include The Dow Chemical Company (U.S.), GE Water & Process Technologies (U.S.), LG Water Solutions (U.S.), Toray Industries (Japan), Merck Millipore (Germany), Asahi Kasei Corporation (Japan), Hydranautics (U.S.), Danaher Corporation (U.S.), Pentair plc (U.K.), and Koch Membrane Systems, Inc. (U.S.).
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http://www.reportsnreports.com/market-research/chemicals/ .
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