The membranes market size is projected to grow from USD 5. 4 billion in 2019 to USD 8. 3 billion by 2024, at a CAGR of 9. 0% during the forecast period. The increasing demand for water owing to the increase in population, rapid industrialization, and increasing urbanization, globally are the major drivers for the membranes market.
New York, Feb. 07, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Membranes Market by Material, Technology, Application, Region - Global Forecast to 2024" - https://www.reportlinker.com/p04837050/?utm_source=GNW
Other driving factors include the shift from chemical treatment of water to physical treatment of water, increasing industrial investments, and stringent regulations for water & wastewater treatment and raising awareness about water & wastewater treatment are also driving the market. However, the high capital and energy costs can hinder the growth of the market.
The polymeric material segment is estimated to be the largest material segment of membranes during the forecast period.
The polymeric material segment accounts for the largest market share, in terms of value, in the membranes market.This segment includes natural and synthetic polymers.
The synthetic polymeric membranes are mainly used in water treatment, desalination, and wastewater treatment applications. The high heat and chemical resistance, stabilizability, porosity, and long lifespan provided by polymeric membranes are the significant drivers of the membranes market.
The NF segment is expected to be the fastest-growing membranes technology during the forecast period.
The NF technology segment is projected to register the highest CAGR between 2019 and 2024.The ability of NF membranes to permeate monovalent ions, while rejecting divalent and multivalent ions has a significant impact growth of NF technology.
The flexibility provided by NF segments for ion separation and permeation offers substantial advantages in industrial applications.Also, the use of these membranes for water treatment provides lower discharge volumes than RO, reduces heavy metal, salt, and nitrate contents.
Excellent separation properties provided by NF membranes, increasing industrialization, and growing population are the major drivers for the NF technology membranes.
APAC is expected to be the fastest-growing membranes market during the forecast period.
APAC is projected to be the largest, as well as the fastest-growing membranes market during the forecast period owing to the continuously increasing population, rapid industrialization, increasing urbanization, and raising awareness about water conservation and water reuse. Also, the implementation of water reuse programs, and stringent environmental regulations for wastewater discharge, in the region are propelling the demand for membranes.
The market sizes estimated in this study were validated through primary interviews conducted with various industry experts globally. These primary sources are divided into three categories:
• By Company Type: Tier I – 25%, Tier II – 50%, and Tier III – 25%
• By Designation: C Level – 20%, Director Level – 30%, and Others – 50%
• By Region: Europe – 30%, APAC – 25%, North America – 20%, South America – 25%, Middle East & Africa – 10%
The report profiles several leading players of the membranes market that include DuPont (US), Toray (Japan), Hydranautics (US), Koch Separation Solutions (US), and Pentair (UK) The report also includes detailed information about various growth strategies adopted by these key players to strengthen their position in the market.
The objective of this study is to define, describe, and forecast the membranes market based on various segmentations and strategically analyze these market segments concerning individual growth trends, growth prospects, and contribution to the overall growth. In this report, the membranes market has been segmented based on material, technology, application, and region.
KEY BENEFITS OF BUYING THE REPORT
The report is expected to help market leaders/new entrants in the membranes market in the following ways:
1. This report comprehensively segments the membranes market and provides the closest approximations for the sizes of different segments and sub-segments of the market across different verticals and regions.
2. This report is expected to help stakeholders in obtaining an improved understanding of their competitors and gain insights about their businesses. The competitive landscape section includes detailed information about strategies, such as new product development, merger & acquisition, partnership, agreement & collaboration, and investment & expansion, which were undertaken by various key players to enhance their position in the membranes market.
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