Global Hollow Fiber Filtration Market Insights, Forecast to 2028

Hollow Fiber Filtration Market Outlook: 2022-2028

The Hollow Fiber Filtration market was valued at USD 2468.18 million in 2022, and it is anticipated to reach USD 3605.95 million by 2028, registering a CAGR of about 6.52% during the forecast period (2022-2028). Fully considering the economic change by this health crisis, PVDF Membrane Module accounting for 94.49% of the Hollow Fiber Filtration global market in 2021, is projected to value US$ 336.91 million by 2028, growing at a revised 6.42% CAGR in the post-COVID-19 period. While Municipal segment is altered to a 6.20% CAGR throughout this forecast period. Key drivers of the hollow fiber filtration market include the growing cell-based research.

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The increasing use by pharmaceutical and biotechnology companies, rapid adoption of single-use technologies is expected to propel the growth of the hollow fiber filtration market during the forecast period. The usage of hollow fiber filtration techniques for large-scale covid 19 vaccine production, wastewater treatment is significantly boosting the market growth.

Increased Cell-Based Research Activities
Hollow fiber membrane bioreactors are used for culturing stem cells and highly metabolic cells such as hepatocytes. These bioreactors provide better cell attachment on their surfaces and enable efficient mass transfer. Moreover, they are also used in regenerative medicine for expanding cell population under controlled environment and aiding in the creation of engineered tissues. These factors will fuel the growth of the hollow fiber filtration market in the coming years.

Large Scale Use By Pharmaceutical, Biotechnology Companies And Extensive Penetration Of Single-Use Technologies
Hollow fiber filter membranes are used in the biotechnology sector for creating improved medical processes for dialysis through ultrafiltration. Pharmaceutical companies deploy these membranes as in vitro models for drug testing because of their flexibility and high surface-to-volume ratio. They adapt and provide permeability, hemocompatibility, and cytocompatibility for hemo purification and liver assist bioreactors. Moreover, single-use technologies are gaining traction as they are used in various mixing procedures for biopharmaceutical production. This in turn is expected to spur the growth of the hollow fiber filtration market during the forecast period.

Covid 19 Vaccine Production And Water Treatment Process
The covid 19 vaccines are being produced at a massive scale. The purification of the SARS COV 2 virus depends on hollow fiber filters for eliminating unwanted small molecules. In addition to it, hollow fiber filters efficiently remove contaminants thereby assisting in water treatment. The difference in ph levels, color, salt, and temperature do not diminish the working capacity of the filters. Thus these large-scale applications will accelerate the growth of the hollow fiber filtration market in the upcoming years.

Hollow Fiber Filtration Market Share Analysis
SUEZ, DuPont, Asahi Kasei, Koch Industries, Mitsubishi Chemical, CITIC Envirotech, Pentair X-Flow, Sumitomo Electric Industries, and W. L. Gore & Associates are among the world's leading manufacturers of Hollow Fiber Filtration. In terms of revenue, the top three worldwide players control 55.91% of the Hollow Fiber Filtration market in 2021.

Based on region, North America is expected to dominate in the hollow fiber filtration market share due to growing product innovations by key market players and the continuous development of the biopharmaceutical industry. In 2021, the North America Hollow Fiber Filtration market is expected to be worth US$ 475.09 million, while Europe's market is expected to be worth US$ 882.43 million by 2028. North America's share of the market is expected to reach 20.14% in 2021, while Europe's is expected to reach 31.36% in 2028, with a CAGR of 2.73%. In Asia, China and Japan are the most important markets, with CAGRs of 11.53% and -1.57% for the next six years, respectively.

Hollow Fiber Filtration Market by Membrane Module
PVDF Membrane Module
PTFE Membrane Module
Others
Hollow Fiber Filtration Market by Application
Municipal
Food and Beverage
Petroleum Industry
Machinery Industry
Stock Farm
Others
Production by Region
North America
Europe
China
Japan
India
Consumption by Region
North America
United States
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
India
Australia
China Taiwan
Indonesia
Thailand
Malaysia
Latin America
Mexico
Brazil
Argentina
Middle East & Africa
Turkey
Saudi Arabia
UAE
Key Market Players
SUEZ
DuPont
Asahi Kasei
CITIC Envirotech
Mitsubishi Chemical
Koch Industries
Sumitomo Electric Industries
W. L. Gore & Associates
Zhejiang Jingyuan
DIC
Zhongke Bidun
Zhejiang Dongda
Hangzhou Kaiyan Film
Hefei Xinda Membrane
Dongyang Jinlong
Theway
Zhejiang Jiari Fluoroplastic
Oxymo Technology
YouPu

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Hollow Fiber Filtration Market by Membrane Module
PVDF Membrane Module
PTFE Membrane Module
Others

Hollow Fiber Filtration Market by Application
Municipal
Food and Beverage
Petroleum Industry
Machinery Industry
Stock Farm
Others

Production by Region
North America
Europe
China
Japan
India

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This release was published on openPR.