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Membrane Separation Technology Market Size, Share & Trends Analysis Report By Technology, By Application, By Region And Segment Forecasts, 2022 - 2030
Membrane Separation Technology Market Size, Share & Trends Analysis Report By Technology (Microfiltration, Ultrafiltration, Nanofiltration, Reverse Osmosis), By Application, By Region, And Segment Forecasts, 2022 - 2030
New York, Jan. 06, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Membrane Separation Technology Market Size, Share & Trends Analysis Report By Technology, By Application, By Region And Segment Forecasts, 2022 - 2030" - https://www.reportlinker.com/p06377936/?utm_source=GNW
Membrane Separation Technology Market Growth & Trends
The global membrane separation technology market size is expected to reach USD 62.45 billion by 2030 expanding at a CAGR of 12.2% during the forecast period. This growth can be attributed to the growing population that has accelerated the depletion of water resources coupled with the contamination of ground and surface water bodies, which has encouraged the adoption of water treatment processes and thus increased the demand for membrane separation technology.
Industry participants in collaboration with research institutes are undertaking various R&D projects to improve and accelerate the membrane separation manufacturing technology.Increasing investments and continuous R&D in membrane separation technology have led to the introduction of products with enhanced durability and higher flow rates.
Moreover, manufacturers are developing industry applications to address the specific requirements of the end-use industries.
Technological advancements related to durability enhancement and reduction of fouling potential are expected to have a favorable impact on the widespread adoption of membrane separation technologies.Manufacturers have also developed membrane separation technology that can withstand high operating temperatures and harsh chemical environments.
Moreover, advancements in manufacturing technologies have enabled manufacturers to make considerable improvements in increasing the membrane surface area per module.
The high prices associated with membrane modules have been posing a major challenge to membrane separation technology. High prices of principal raw materials such as Polyethersulfone (PES) and Polyvinylidene Fluoride (PVDF) coupled with complicated manufacturing processes are the principal factors driving up the membrane separation prices.
Manufacturers of membrane separation technology distribute their products through third-party distributors or often opt for direct distribution. As the product finds a wide range of applications in the industrial sector, manufacturers often cater to this sector through filtration equipment manufacturers and system integrators through direct distribution.
Membrane Separation Technology Market Report Highlights
• Water & wastewater treatment accounted for the highest share of 46.1% in 2021 due to the rapidly increasing global population coupled with rising industrialization and urbanization exerting considerable stress on the existing freshwater resources. Furthermore, the changing rainfall pattern and overexploitation of groundwater resources are expected to have an adverse impact on the availability of water which in turn is expected to increase the demand for membrane separation technology
• The reverse osmosis technology segment led the market in 2021 and is growing at a CAGR of 12.2% over the forecast period 2022-2030, owing to the rising scarcity of freshwater resources across the world. Countries such as China, India, the U.S., the UK, and Saudi Arabia are making considerable investments in the development of new desalination plants. As a result, the reverse osmosis segment is expected to witness considerable growth over the forecast period
• Asia Pacific is estimated to dominate the regional market for membrane separation technology and accounted for growth at a CAGR of 14.0%, owing to the rapid industrialization coupled with stringent regulations set by various governments to maintain environmental quality. The growth of industries such as chemicals, mining, and metal processing is expected to result in increased discharge of pollutants into the environment. Thus, rising the need for wastewater treatment, which in turn is expected to drive the demand for membrane separation technology
• The market demand was hampered owing to the global outbreak of the COVID pandemic in 2020. Supply of raw materials and finished goods has been hampered owing to restrictions on trade and manufacturing in some economies. However, gradual resumption of industrial activities and trade operations to smoothen economic conditions, several economies are offering ease in trade operations, thus, positively impacting the market.
• The industry is identified by a small number of participants competing for market share. Developing economies are presumed to offer ample growth and development opportunities to companies. The application of reverse osmosis in seawater desalination is further expected to increase the rivalry.
Read the full report: https://www.reportlinker.com/p06377936/?utm_source=GNW
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