PUNE, India, October 9, 2015 /PRNewswire/ --
The report "Membranes Market by Type (Polymeric membranes, Ceramic membranes, and others), by Technology (MF, RO, UF, Pervaporation, Gas Separation, Dialysis, NF, and Others), by Region (North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America), and by Application - Global Forecast to 2020" published by MarketsandMarkets, published by MarketsandMarkets, The global Membranes Market is projected to grow at a CAGR of 9.47% from 2015 to reach a value of USD 32.14 Billion by 2020.
Browse 120 market data Tables and 58 Figures spread through 236 Pages and in-depth TOC on "Membranes Market"
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The market report defines and segments the global Membranes Market with an analysis and forecast by value.
"Asia-Pacific and North America are the key markets for membranes, whereas the developing economies such as the Middle East & Africa (MEA) and Latin America (LATAM) are projected to witness high growth rates between 2015 and 2020."
The global membranes market is dominated by Asia-Pacific and North America, accounting for the largest market share in 2014. Within North America, the U.S. was observed to be the largest consumer of membranes. This market is mainly driven by water & wastewater treatment, pharmaceuticals & medical uses, food & beverages, and chemical processing sectors. The growing pharmaceutical and industrial development in North America and Asia-Pacific are driving the growth of this market.
MEA region is expected to register the highest growth rates for the membranes market due to the high demand for the desalination and wastewater treatment units in the region. MEA is followed by LATAM in terms of growth rate. Overall, the market's growth is driven by the growing need for water & wastewater treatment activities. The MEA region will continue to be supported by the demand for fresh water through desalination projects in Saudi Arabia, Qatar, and U.A.E., thus driving the Membranes Market in these regions.
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"Water & wastewater treatment, pharmaceuticals & medical uses, and food & beverages are the topmost segments in terms of market share, whereas the industrial gas processing segment is projected to witness the highest growth rate."
While the water & wastewater treatment and pharmaceuticals & medical segments account for maximum share in the membranes market with approximately 62% share in 2014, maximum growth is projected from industrial gas processing and others segments in the near future. The increasing use of membranes in the oil & gas sector for gas processing, hydrogen production, carbon dioxide removal from natural gas streams, and so on are projected to drive the growth in the membranes market from 2015 to 2020. Also, the demand for membranes is projected to increase in the future with the growth of the emerging economies further strengthening the market.
"New product/technological launches is the key strategy adopted by the market players in order to strengthen their existing market position."
The key strategy adopted by the market players was product enhancements between 2010 and 2015. The strategy helped the wastewater treatment segment along with gas industry players on a large scale. The continuous advancements in the product helped companies to treat and handle different types of water compositions. For example, recently, GE announced a new nanofiltration membrane system to remove seawater sulfate (SWS) from injection water for offshore oil production.
Other than product enhancements, capacity expansions were done by the companies to cater to growing demands for membranes in various industries across the globe. Some major acquisitions also took place in 2015 that helped the companies to enhance their membranes business globally. For example, Asahi Kasei Corp. (Japan) acquired Polypore's (U.S.) unit that makes microporous membranes for rechargeable batteries.
Also, 3M made the biggest acquisition in the last eight years by acquiring Polypore's Separations Media business from Polypore International Inc.
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