Press release
Microfiltration Membrane Market To Generate $7,517.38 Million Revenue by 2030
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One of the primary growth drivers of the market is the flourishing pharmaceutical industry. Pharmaceutical companies use an extensive volume of microfiltration membranes, such as polyethersulfone (PES), polypropylene (PP), and polyvinylidene fluoride (PVDF), for the filtration of proteins and preservatives, due to their high-flow rate, low-protein binding ability, and exceptional retention capacity. Additionally, the increasing investments being made in research and development (R&D) projects in the domain of biotechnology and medicine will also facilitate the market growth.
The application segment of the microfiltration membrane market is classified into biotechnology, dairy, food and beverage, industrial wastewater treatment, oil and gas, pharmaceutical, semiconductor and electronic, and others, such as metal and catalyst recovery and solvent recovery. Among these, the industrial wastewater treatment category generated the highest revenue in 2019, due to the increasing scarcity of usable water, rising concerns over the limited availability of water, and booming demand for safe water for commercial, industrial, and residential applications.
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Geographically, the Asia-Pacific (APAC) region held the largest share in the microfiltration membrane market in 2019, owing to the escalating need for wastewater treatment, toughening regulatory standards on water treatment, and increasing desalination activities to meet the water shortage in emerging economies, such as the Philippines, India, Thailand, and China. Moreover, the soaring number of manufacturing plants and research centers of pharmaceutical and biotechnology companies will also propel the demand for microfiltration membranes in the region.
Therefore, the expanding pharmaceutical industry and burgeoning demand for uncontaminated food products and beverages will drive the demand for microfiltration membranes worldwide.
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P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
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