The Global Membrane Market is expected to reach 10,527.70 USD Million by 2028, growing at a CAGR of 8.50% from 2022 to 2028. The increasing awareness about water conservation and wastewater treatment along with rising stringent regulatory and sustainability policies is anticipated to augment the growth of the market during the forecast period.
- The polymeric segment held a significant share in 2021 since they offer better and more efficient mechanical properties to sustain membrane filtration. Further, these membranes are cost-effective, easy to process and operate and provide good selectivity for various applications such as feedwater production, beverage processing, chemical processing, and others.
- The NF technology segments are projected to grow at a considerable CAGR during the forecast period. This is owing to its ability to permeate monovalent ions while rejecting the other divalent and multivalent ions. These membranes also offer lower discharge volumes than RO, reduce salt, heavy metal, and nitrate contents in case of water treatment.
- The water & wastewater treatment segment held a significant share in 2021 owing to the increasing demand from various industries such as pharmaceutical, biomedical, and food & beverages, among others.
- Asia Pacific is expected to grow at the fastest CAGR during the forecast period. China accounted for the largest share in APAC in 2021. This is attributable to the rise in the demand for treatment of water in the region owing to the growing government regulations for water treatment, drinking water supply, and wastewater discharge in populated economies such as China and India. Furthermore, the increase in investment for water treatment along with rapid industrialization is also anticipated to support the regional growth of the market.
Some of the key players in the Membrane market include DuPont (US), Toray (Japan), Hydranautics (US), Koch Separation Solutions (US), and Pentair (UK).
The increasing awareness about water conservation and wastewater treatment is anticipated to augment the growth of the Membrane market in the years to come. Water conservation, wastewater recycling, and reuse have become very important as the demand for water is greater than the amount of water collected through rain and snowmelt. The others factors due to which the importance is increasing is the rise in demand for potable water resources, increase in the cost of treating wastewater, and growing demand for sustainable building options. Further, the increasingly stringent regulatory and sustainability policies for environmental protection across the globe also aided to drive the market growth. Additionally, the need for selective separation to meet water quality standards is also expected to augment the growth of the market in near future.
However, the high capital and energy cost and issues related to the lifespan and efficiency of membranes are expected to hamper the growth of the market in the years to come. Moreover, an increase in demand for treated water in emerging economies along with the implementation of various initiatives to address the issue of water scarcity is also expected to create immense opportunities for the growth of the market within the forecast period.
Asia Pacific held the largest shares in 2021. This is attributable to the rise in R&D expenditure and the implementation of various initiatives by the government for water treatment and preservation in the region. Furthermore, the well-established distribution channel in the region is also expected to fuel the regional growth of the market.