Membrane Filtration Global Market Analysis Development Trends, Industry Growth Opportunities, Regional Demand and Forecast 2024-2033

"The Business Research Company recently released a comprehensive report on the Global Membrane Filtration Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The membrane filtration market market size has grown strongly in recent years. It will grow from $16.6 billion in 2023 to $18.01 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. The growth in the historic period can be attributed to water and wastewater treatment needs, pharmaceutical and biotechnology applications, food and beverage industry requirements, growing dairy industry, environmental regulations compliance..

The membrane filtration market market size is expected to see strong growth in the next few years. It will grow to $24.44 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to biopharmaceutical industry expansion, rising demand for processed foods, advancements in healthcare practices, technological innovations in filtration, global population growth.. Major trends in the forecast period include expansion in pharmaceutical and biotechnology applications, rising demand for membrane bioreactors in wastewater treatment, integration of membrane filtration in food and beverage processing, advancements in hollow fiber membrane technology, increasing use of membrane filtration in the healthcare sector..

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Market Drivers and Trends:

The increasing cases of water pollution and waterborne diseases is expected to drive the growth of membrane filtration market. Water pollution occurs when toxic substances, often chemical products or microorganisms, are discharged into a stream, river, lake, or ocean. Such occurrences of water pollution cause the scarcity of pure and drinkable water. Due to the sheer rise in water pollution, there is an increase in waterborne diseases. These membrane filtration serve as a viable alternative for water treatment through microfiltration or ultrafiltration that enhance the water quality by removing the particles contaminating the water. For instance, in July 2023, according to the Environment Agency, a UK-based non-departmental public body, there were 2,026 instances of sewage and water supply infrastructure issues reported in July 2022. This is an increase from the 1,883 incidents reported in 2021. Out of these, 368 cases impacted water supply assets, with the majority of them (345) being from the water distribution system. This is a significant increase from the 189 cases reported in 2021. Therefore, the increasing cases of water pollution and waterborne diseases will propel the growth of the membrane filtration market.

Technological advancement is a key trend gaining popularity in the membrane filtration market. Recently, the market has witnessed the demand for ozone membrane filtration, such as ultrafiltration, nanofiltration, microfiltration, reverse osmosis, and forward osmosis, to enhance the water quality by removing the particles contaminating the water. Major companies operating in the membrane filtration market are focused on innovating new technologies to sustain their position in the market. For instance, in April 2021, Koch Separation Solutions, a US-based company operating in membrane filtration and ion exchange technologies, launched INDU-COR™ HD (High Density). This upgraded technology is intended to treat different industrial waste streams more effectively. With a higher packing density of up to 300% offered by INDU-COR HD, crossflow filtration is more cost effective and takes up less room. The 8mm PVDF tubule configuration of INDU-COR HD is an additional product line from KSS that complements its existing FEG PLUS®, ULTRA-CORTM, and INDU-COR product lines.

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Major Key Players of the Market:

Pall Corporation; Koch Membrane Systems Inc.; Pentair Plc.; 3M Company; Porvair Filtration Group; GEA Group AG; Suez Water Technologies and Solutions; Alfa Laval AB; Veolia Environnement S.A.; DowDuPont Inc.; Prominent GmbH; Nitto Denko Corporation; Synder Filtration Inc.; Merck KGaA; Toray Industries Inc.; The Wabag Group; The Dow Chemical Company; Cytiva Corporation; Asahi Kasei Corporation; Suez S.A.; Thermo Fisher Scientific Inc.; Parker-Hannifin Corporation; Graver Technologies LLC; Repligen Corporation; Hyflux Ltd.; Microdyn-Nadir GmbH; Polymem S.A.S.; Membrane Solutions LLC; Evoqua Water Technologies LLC; Aquaporin A/S;

Membrane Filtration Market 2024 Key Insights:

• The membrane filtration market market will grow to $24.44 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%.
• Rising Water Pollution And Waterborne Diseases Drive Membrane Filtration Market Growth
• Technological Advancements Drive Innovation In Membrane Filtration
• Asia-Pacific was the largest region in the membrane filtration market share in 2023

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