Membrane Separation Systems Market to Expand at a Modest CAGR of 9.3% by 2025
Despite featuring a largely fragmented vendor landscape, the global market for membrane separation witnesses a strong grasp of large players operating internationally, notes a recent market research report by Transparency Market Research. Small-scale vendors in the market have a good hold on a few end-use industries in regional pockets but large vendors, such as Koch Membrane Systems Inc. and The Dow Chemical Company continue to set their dominance with the help of vast product portfolios, well-established delivery channels, and good brand equities.
Companies are also ploughing in increased resources into R&D activities to come up with innovative and more reliable membrane separation systems to make the most of changing consumer demands and serve new application areas. Other leading vendors in the market are 3M, GE Healthcare, Pall Corporation, Novasep, Sartorius AG, Amazon Filters, Merck Millipore, Advantec MFS Inc., and TriSep Corporation.
According to the report, the global membrane separation market will expand at a promising 9.3% CAGR from 2017 to 2025, rising to a revenue opportunity of US$61,801.9 mn by 2025 from US$28,134.4 mn in 2016.
Microfiltration Technology Acquires Maximum Revenue Share
In terms of technology, the report observes that the microfiltration technology accounted for the dominant share in the global revenue in 2016, thanks to the massive use of the technology in the biopharmaceutical industry. However, the segment is likely to show sluggish growth over the next few years owing to stagnant growth opportunities in developed regions and the introduction of newer and more effective varieties of membrane separation systems.
From a geographical standpoint, the market in Europe is presently the leading revenue contributor to the global membrane separation market and is likely to account for a promising share in the overall market over the forecast period as well. However, the market in Asia Pacific is expected to emerge as the regional market with the most promising growth avenues owing to the increased focus of municipalities on reusing the large quantities of wastewater generated from the region’s thriving industrial sector.
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Increased Focus of Municipal Bodies on Wastewater Management to Drive Market
One of the key factors working in favor of the global membrane separation market is the increased focus of municipal corporations across the globe on the establishment of wastewater treatment plants to save the wastage of industrial waste water that can be reused for a variety of purposes. This is particularly true for emerging economies that are witnessing a massive rise in industrialization activities and significant rise in population, making wastewater treatment and reuse all the more important.
The vast benefits of membrane separation technology as compared to other separation technology, such as highly organized operation, no use of chemicals for separation, and low consumption of energy, also work on the market’s favor.
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Apart from this, a vast rise in awareness programs regarding the pressing need for reusing and treating wastewater so as to survive the intensifying issue of water shortage is also expected to aid the growth of the market. However, the high costs associated with operations and establishment of membrane separation plants and the availability of other separation technologies could act as deterrents to the growth of the market.