Reverse Osmosis Membrane Market to Reach $12.15 Billion, Globally, Says Allied Market Research
PORTLAND, Oregon, November 13, 2018 /PRNewswire/ --
Factors such as rapid industrialization and rise in infrastructure development lead to water pollution, which in turn are expected to boost the growth of the global reverse osmosis membrane market
Allied Market Research published a report, titled, Reverse Osmosis Membrane Market by Type (Cellulose-Based Membranes and Thin Film Composite Membranes), Filter-Module (Plate & Frame, Tubular-Shaped Membranes, Spiral-Wound Membranes, and Hollow-Fiber Membranes), and Application (Desalination Systems and RO Purification Systems): Global Opportunity Analysis and Industry Forecast, 2018-2025. The report offers an in-depth analysis of several dynamic factors such as drivers, restraints, challenges, and opportunities; revenue generated by major market players; segments and sub-segments to help new business entrants and stakeholders understand the market trends and gauge the future course of the industry. According to the report, the global reverse osmosis (RO) membrane market accounted for $6.2 billion in 2017 and is expected to reach $12.15 billion by 2025, registering a CAGR of 8.7% through 2025.
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Rapid industrialization and perpetual rise in infrastructure have contributed to water pollution, which in turn drives the need for water purification systems, thereby driving the market. Moreover, other factors including blooming areas such as seawater desalination systems and RO purification systems and increased concerns over safe drinking water have supplemented the growth of the RO membrane market. However, high cost of investment and maintenance hampers the market growth. On the contrary, new technological innovations such as feed spacer technology have created lucrative opportunities for the market players.
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Thin film composite membrane to witness highest demand
The thin film composite membrane segment contributed about 70% of the market share in 2017 as these membranes are both chemically and structurally heterogeneous, which can be used in a variety of applications such as batteries and fuel cells. However, cellulose-based membrane segment would show the fastest CAGR of 7.8% from 2018 to 2025, owing to their excellent mechanical properties.
Major filter module in the market
On the basis of filter module, the report is segmented into plate & frame, tubular-shaped membrane, spiral-wound membrane, and hollow-fiber membrane. The spiral-wound membrane segment contributed about 45.5% of the total market share and would hold the largest market share throughout the study period. However, hollow-fiber membrane segment would grow at the fastest CAGR of 9.1% through 2025 as they have substantial applications in water treatment, desalination, medicine, cell culture, and tissue engineering.
RO purification system segment to generate highest revenue
RO purification system segment contributed about three-fourths of the total market share owing to their applications in production, food & beverage, and pharmaceutical industries. On the other hand, the desalination system segment would show the highest CAGR of 10.1% through 2025, owing to high demand in the areas where there is scarcity of water, especially in the Middle East region.
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Asia-Pacific presents lucrative opportunities
In 2017, Asia-Pacific accounted for $2.18 billion in revenue and is expected to garner $4.5 billion by the end of 2025, contributing more than one-third of the market share. Moreover, the region would manifest the fastest growth by registering a CAGR of 10.1% owing to high demand for desalination, water purification, and wastewater treatment systems from developing countries such as India and China. The report analyzes other geographical regions such as North America, Europe, and Latin America, Middle East and Africa (LAMEA).
Key market players
The leading market players profiled in the report include Toray Industries, Inc., Hydranautics (A Nitto Denko Group Company), Toyobo Co., Ltd., Koch Membrane Systems, Inc., Trisep Corporation, LG Chem, DOW Water & Process Solutions, Lanxess AG, GE Water & Process Technologies, and Membranium (RM Nanotech).
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