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Membrane Separation Systems Market Size, Share, Trends Analysis, And Forecast To 2033
Membrane Separation Systems Market
According to The Business Research Company's, The membrane separation systems market size has grown strongly in recent years. It will grow from $28.66 billion in 2023 to $31.09 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. The growth in the historic period can be attributed to water scarcity concerns, wastewater treatment needs, food and beverage processing, pharmaceutical industry growth, biotechnology applications..
The membrane separation systems market size is expected to see strong growth in the next few years. It will grow to $43.43 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%. The growth in the forecast period can be attributed to rising industrialization, urbanization and population growth, advancements in healthcare, focus on sustainable practices, increasing awareness of water quality.. Major trends in the forecast period include integration in industrial gas separation processes, expansion in the dairy processing sector, rising utilization in blood purification technologies, focus on point-of-use water purification devices, increased implementation in the oil and gas industry..
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Market Drivers and Trends:
Surging demand for clean, safe, and potable water is expected to propel the growth of the membrane separation systems market going forward. The demand for clean, safe, and portable water refers to the need for access to water that is free from contaminants, pathogens, and pollutants. Membrane separation systems help in meeting the demand for clean, safe, and portable water by selectively filtering out impurities and contaminants from water, providing an effective method for water purification and treatment. For instance, in March 2022, according to World Health Organization, a Switzerland-based international public health organization, 5.8 billion people constituting 74% of the global population used safely managed drinking water services. Further, in March 2021, according to United Nations Environment Program, a Kenya-based organization responsible for environmental issues, globally around 3 billion people are at risk of disease due to water quality, and over 40% of the 75,000 bodies of water surveyed across 89 nations were judged to be seriously contaminated. Therefore, the surging demand for clean, safe, and potable water is driving the growth of the membrane separation systems market.
Product innovations are a key trend gaining popularity in the membrane separation systems market. Companies operating in the membrane separation systems market are innovating new products to sustain their position in the market. For instance, in November 2022, Alfa Laval AB, a Sweden-based industrial machinery manufacturing company launched MultiSystem, a multipurpose membrane filtration system. This system consists of a cross-flow-skid mounted membrane filtration system connected to the upstream and downstream operations, it increases the flexibility of the process applications like purification of proteins, starch and sugar, amino acid and peptide streams, and water recovery from condensates.
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Major Key Players of the Market:
Dow Inc.; Koch Membrane Systems Inc.; 3M Company; Pall Corporation; Sartorius AG; Amazon Filters Ltd.; Advantec MFS Inc.; GE HealthCare Technologies Inc.; Merck Millipore Co.; Novasep LLC; TriSep Corporation; Pentair Industries Inc.; Hydranautics Membranes India Limited; GEA Group AG; Alfa Laval AB; Asahi Kasei Corporation; TORAY INDUSTRIES Inc.; DuPont de Nemours Inc.; MANN+HUMMEL International GmbH & Co. KG; ProMinent GmbH; Veolia Water Technologies SASU; HUBER SE; Suez SA ; AXEON Water Technologies; Hyflux Ltd.; Corning Incorporated; Permionics Membranes Private Limited; Evoqua Water Technologies Corp.; Kubota Corp.; Ebara Corp.
Membrane Separation Systems Market 2024 Key Insights:
• The membrane separation systems market will grow to $43.43 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%.
• Surging Demand For Clean Water Boosts Membrane Separation Systems Market
• Alfa Laval Introduces Next-Gen Membrane Filtration Solution
• North America was the largest region in the membrane separation systems market in 2023
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