Global membranes market projected to reach USD 14.2 billion by 2032, driven by industrial applications growth.
From GlobeNewswire: 2024-11-06 09:00:00
The global Membranes Market is projected to reach USD 14.2 billion by 2032, with a CAGR of 7.7% from 2024 to 2032. Key drivers include membrane technologies in industrial applications such as food and beverage, pharmaceuticals, biotechnology, and petrochemical sectors, leading to increased efficiency and cost-effectiveness.
Polymeric membranes dominated the market in 2023, occupying a 42% share due to their adaptability, affordability, and high performance. Advancements in polymer chemistry have led to higher separation efficiency and longer service life. Industries are increasingly adopting membrane technologies for water treatment, food processing, pharmaceuticals, and gas separation applications.
Water & wastewater treatment applications held the largest market share in 2023 at 44%, driven by global demand for clean water and efficient waste management solutions. Governments worldwide are implementing stricter regulations, prompting investments in advanced membrane technologies. The US EPA’s stringent standards have led to enhanced treatment processes using membrane technologies.
The Asia Pacific region dominated the Membranes Market in 2023 with a 48% market share. The region’s large population drives demand for clean water and effective waste disposal solutions. Governments in countries like China and India are investing heavily in water and sanitation infrastructure projects, boosting the growth of membrane technologies in the region. The increasing industrial development in Asia Pacific, particularly in sectors like food and beverage, pharmaceuticals, and electronics, is driving the demand for membranes used in separation and purification applications. This growth is attributed to the region’s growing population, industry growth, and government support.
In 2023, Dow launched a new DOW FILMTEC reverse osmosis membrane element to improve productivity and reduce energy consumption in seawater desalination. Similarly, Pall Corporation introduced the Pall Aria water treatment system, integrating advanced membrane filtration technology for municipal and industrial water treatment.
The membranes market is analyzed comprehensively in a report that includes key points like market definition, executive summary, competitive landscape, statistical insights, and trends reporting. The report also covers market dynamics, segmentation by material, technology, and application, regional analysis, company profiles, and use cases.
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