The global market for Membrane Separation Technologies is forecast to reach $16 billion by 2017, according to a new market research report by Global Industry Analysts, Inc. (GIA).
Growth in the market will be spurred by increasing efforts by end-use industries to curtail use of water and minimize costs on waste disposal, according to the Membrane Separation Technologies Report. Additional factors fuelling market growth include increasing concerns over water quality, stringent regulations with respect to the quality of food and beverages, and a shift toward replacing conventional filtration equipment with membrane-based technologies.
The market for membrane separation technologies is expected to exhibit significant growth in demand, attributed to the wide adoption by end-use segments, such as the wastewater & water treatment and food & beverage industries; replacement of traditional filtration equipment; and increased focus on the purity levels of process fluids. With the growth in demand for high-products, stringent regulations, environmental concerns, and exhausting natural resources, membrane separation technologies are forecast to witness significant growth over the long term.
According to the report, the United States continues to remain the largest regional market for membrane separation. Growth in the global market is expected to be driven by large developing countries worldwide that reel under stressed domestic water resources. Asia-Pacific represents the fastest growing regional market, displaying a CAGR of about 8.3 percent over the analysis period, according to GIA.
Microfiltration membrane systems continue to be the largest segment in the market. Due to its wide adoption, GIA says the microfiltration market is relatively more mature than other membranes. Alternatively, GIA indicates growth in the market will be spearheaded by reverse-osmosis membrane systems, given their ability to cost-effectively and efficiently achieve very high levels of purity. With respect to end-use applications, water treatment remains the single largest end-use application for membrane separation technologies, while pharmaceuticals is projected to be the fastest-growing end-use application.
For more details about this market research report, click here.