Membranes Market worth $10.1 billion by 2027 - Exclusive Report by MarketsandMarkets™

CHICAGO, Oct. 17, 2022 /PRNewswire/ -- According to the new market report "Membranes Market by Material (Polymeric, Ceramic), Technology (RO, MF, UF, NF), Application (Water & Wastewater Treatment, Industrial Processing), & Region (North America, Europe, APAC, Middle East & Africa, South America) - Global Forecast to 2027", size is projected to reach USD 10.1 billion by 2027 from USD 6.4 billion in 2022, at a CAGR of 9.7% during the forecast period.

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The increasing demand for membranes in water & wastewater treatment and various industrial processing applications is driving the global membranes market. Stringent regulations towards environment and wastewater treatment also supports the growth of the membranes market. Further, water desalination and rising water scarcity are expected to provide the growth opportunities to the membrane manufacturers, especially in Asia Pacific and the Middle East & Africa regions.

Based on material, polymeric segment is estimated to be the fastest-growing segment in the overall membranes market.

Polymeric segment is projected to grow at the highest growth rate in the membranes market. Various polymers used for the membrane construction include fluorinated polymers, polyethersulfones, and polyamides. Polymeric membranes are largely used in various applications as they are easy to operate and provide good selectivity. Further, these membranes are cost effective than that of ceramic membranes.

Based on technology, RO segment is projected to be the largest in the membranes market during the forecast period.

RO membranes are utilized in the wastewater treatment for the removal of salts and pollutants effectively. They are majorly constructed from polyamides, cellulose acetate, and nitrocellulose, and the pore size of these membranes is less than 0.0001 microns. Further, RO membranes are also used in industrial processing applications in several end use industries including food & beverage and pharmaceuticals. 

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Based on region, Asia Pacific to account for the highest market share in the membranes market during the forecast period.

Asia Pacific is projected to be the largest and fastest-growing market for membranes between 2022 and 2027. Presence of emerging economies including China and India, growing population and urbanization, and increasing industrialization are some of the factors driving the membranes market in Asia Pacific. Further, stringent government regulations and increasing awareness towards wastewater treatment is driving the demand of membranes.

The key players in the membranes market include DuPont (US), Suez Water Technologies & Solutions (France), Mann+Hummel (Germany), Hydranautics (US), LG Chem Ltd. (South Korea), Pentair (UK), Koch Separation Solutions (US), Toray Industries Inc. (Japan), Pall Corporation (US), Asahi Kasei Corporation (Japan), and 3M (US).

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