Membranes Market worth $8.3 billion by 2024 : Water & wastewater treatment is projected to lead the market

CITY, Country, 2021-Oct-28 — /EPR Network/ — 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%. The major drivers for the membranes market include increasing population, rising awareness about wastewater reuse, and rapid industrialization. Also, shift from chemical treatment of water to physical treatment of water, strict regulations regarding water treatment, and water discharge, and changing climate dynamics in terms of amount of precipitation are also driving the membranes market.

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The NF technology segment is projected to register the highest CAGR during the forecast period.

Based on technology, the NF segment is projected to register the highest CAGR between 2019 and 2024. The use of NF membranes is increasing due to their ability to permeate monovalent ions while rejecting divalent and multivalent ions. The flexibility for ion separation and permeation provided by these membranes offer significant 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. These membranes are also beneficial for whey protein concentration, juice concentration and other applications in the food & beverage and pharmaceutical industry. Excellent selectivity properties provided by NF membranes, increasing industrialization, and growing population are the major drivers for the NF membranes.

Water & wastewater treatment is projected to lead the membranes market during the forecast period.

Based on the application, the water & wastewater treatment segment is projected to capture the largest share in the membranes market. Membranes are used in water & wastewater treatment for desalination, sewage water treatment, and industrial water treatment. Accelerated urbanization, rapid industrialization, and expansion of municipal water facilities, globally are driving the membranes market in water & wastewater treatment applications. Also, variation in the water cycle dynamics, and stringent regulations to reduce water pollution, is even driving the membranes market.

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APAC is projected to be the largest market during the forecast period

The membranes market in APAC has immense growth potential driven by the increasing demand for physical treatment of water. APAC consists of some large and rapidly growing economies, such as China, India, Indonesia, Malaysia, Vietnam, and Thailand. Across these economies, local governments are reforming regulations in fields such as water treatment, drinking water supply, and wastewater discharge. The major drivers for the membranes sector in APAC are changing reforms regarding water regulations in existing systems, growing population, increasing investment for water treatment, and rapid industrialization.

Critical questions the report answers:

• What are the upcoming hot bets for the membranes market?
• How are the market dynamics for different types of membranes?
• What are the significant trends in applications influencing the market?
• Who are the major manufacturers of membranes?
• What are the factors governing the membranes market in each region?

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