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Surging Demand For Purified Drinking Water Boosts The Membrane Separation Technology Market: Strengthening the Growth Trajectory of the Membrane Separation Technology Market
Membrane Separation Technology Market
What Is the Expected CAGR for the Membrane Separation Technology Market Through 2025?
In recent years, the membrane separation technology market has experienced robust growth. Its market size will increase from $26.45 billion in 2024 to $28.91 billion in 2025, with a compound annual growth rate (CAGR) of 9.3%. The surge in the historical period can be traced back to factors such as worries over water shortages, the optimization of industrial processes, environmental guidelines, expansion in the biopharmaceutical sector, and a rising demand for renewable sources of energy.
What's the Projected Size of the Global Membrane Separation Technology Market by 2029?
The market for membrane separation technology is set to witness substantial expansion in the coming years, scaling up to $41.63 billion by 2029, with a Compound Annual Growth Rate (CAGR) of 9.5%. The predicted growth during this forecast period is linked to the increased demand for wastewater treatment, the rise of biotechnology applications, a heightened focus on renewable energy, the swift expansion in pharmaceutical manufacturing, and a growing dairy industry. Key trends to watch during this forecast period will include the incorporation of IoT and AI, increased demand in the pharmaceutical and biopharmaceutical sectors, a shift towards sustainable solutions, broader usage in food and beverage processing, and progress in membrane material technology.
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Top Growth Drivers in the Membrane Separation Technology Industry: What's Accelerating the Market?
The surge in the need for purified, uncontaminated drinking water is anticipated to fuel the expansion of the membrane separation technology market in the impending future. Membrane separation systems have emerged as a key solution for water purification, desalination, and wastewater treatment. The water recovery rate improves significantly with the increase in feed water pressure and temperature. The primary growth drivers encompass health-related apprehensions about pollutants like PFAS, swift urban growth surpassing infrastructure, environmental consciousness reducing the use of bottled water, and technological progression in membrane technology. For instance, the World Health Organization, an intergovernmental organization based in Switzerland declared in September 2023 that 73% of the world population, approximating to 6 billion individuals, had access to safely managed drinking water service in 2022. It implies that the water source was situated on their property, readily available whenever needed, and free from pollutants. Hence, the escalating demand for purified, uncontaminated drinking water is propelling the expansion of the membrane separation technology market.
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What Trends Will Shape the Membrane Separation Technology Market Through 2029 and Beyond?
Product innovation is a burgeoning trend in the membrane separation technology market that is gaining traction. Companies at the pinnacle of the membrane separation technology market are channeling their resources for the creation of novel products to fortify their market positions. As an illustration, in June 2024, Asahi Kasei, a Japanese firm with a presence in sectors like materials, home products, and healthcare, heralded the introduction of a new sophisticated membrane system for the production of Water for Injection (WFI), a sterilized water variant used in injections. This setup employs Microza, which makes use of robust polyvinylidene fluoride (PVDF) hollow fibers for ultrafiltration and microfiltration. It effectively filters out contaminations from liquids, rendering it an optimum choice for sectors such as pharmaceuticals and food. Renowned for its impressive performance and durability, Microza improves the hygiene and automation aspects of the filtration process. This inventive product design contributes to a decrease in CO2 emissions and energy expenditures while also guaranteeing superior quality water.
What Are the Main Segments in the Membrane Separation Technology Market?
The membrane separation technology market covered in this report is segmented -
1) By Process: Microfiltration, Ultrafiltration, Nanofiltration, Reverse Osmosis, Other Processes
2) By Type Of Material: Polymeric Membranes, Non-Polymeric Membranes
3) By Application: Water And Wastewater Treatment, Food And Beverage Processing, Medical And Pharmaceutical, Industry Processing, Other Applications
Subsegments:
1) By Microfiltration: Ceramic Membranes, Polymer Membranes
2) By Ultrafiltration: Hollow Fiber Membranes, Flat Sheet Membranes
3) By Nanofiltration: Polyamide Membranes, Thin Film Composite Membranes
4) By Reverse Osmosis: Thin Film Membranes, Spiral Wound Membranes
5) By Other Processes: Electrodialysis, Membrane Distillation, Membrane Bioreactors
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Which Top Companies are Driving Growth in the Membrane Separation Technology Market?
Major companies operating in the membrane separation technology market include Merck KGaA, Toray Industries Inc., Pentair PLC, Hydranautics, AXEON Water Technologies, GEA Group AG, Koch Separation Solutions, Corning Incorporated, Danaher Corporation, 3M Company, SUEZ Water Technologies & Solutions, Asahi Kasei Chemicals Corporation, DuPont, Mann+Hummel, Huber SE, Parker Hannifin Corporation, Nitto Denko Corporation, Synder Filtration Inc., Via Separations, NX Filtration BV, Applied Membranes Inc., Culligan Water, PCI Membranes, Pall Corporation, Permionics Membranes Private Limited, Samco Technologies Inc., LG Chem, Lanxess AG, Osmonics Inc.
Which Regions Will Dominate the Membrane Separation Technology Market Through 2029?
Asia-Pacific was the largest region in the membrane separation technology market in 2024. North America is expected to be the fastest-growing region in the membrane separation technology market report during the forecast period. The regions covered in the membrane separation technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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