Membrane Filters Market Foreseen to Grow Exponentially by 2025
Posted: Sep 27, 2019
The global membrane filters market was valued at US$ 28,134.4 Mn in 2016. It is expected to expand at a CAGR of 9.3% from 2017 to 2025 and reach an estimated value of US$ 61,801.9 Mn by 2025, according to a new report published by Transparency Market Research (TMR) titled, "Membrane Filters Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017–2025" The report states that rise in scarcity of drinking water in Asia and Europe due to high growth of population and increase in consumption of membrane filters in the transportation industry, especially aviation and aerospace, are the major factors propelling the growth of membrane filters market, and the trend is expected to continue during the forecast period. Western Europe and the Asia Pacific are likely to account for a major share of the global membrane filters market in the near future as key companies based in these regions are adopting sensible pricing and proficient marketing strategies.
Request A Sample of Membrane Filters Market : https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=46170
Increase in use of microfiltration in health care and biopharmaceutical to boost market growth
In terms of technology, the microfiltration segment accounted for approximately 32.1% share of the global membrane filters market in 2016. Technological advancement and rise in consumption of microfiltration in the healthcare and biopharmaceutical industry and in clinical laboratories by scientists and health care professionals are the key factors expected to fuel the growth of the microfiltration segment during the forecast period. Ultrafiltration is another high growth segment of the membrane filters market due to rise in its demand from the food & beverages and vaccine production industries.
Water & wastewater treatment application to boost demand for membrane filters
Based on application, the environmental segment held the leading share of the membrane filters market in 2016. Increase in use of membrane filters in water & wastewater treatment, high population growth, scarcity of pure water, and high demand for membrane filters in the countries of Asia Pacific, such as India and China are the major factors driving the growth of the environmental application segment. Moreover, rapid urbanization and industrial expansion are also propelling the demand for wastewater treatment. Urban population in East Asia and Pacific region stood at 1.3 billion in 2016 and is expected to grow rapidly. Urban dwellers consume around three times more water compared to their rural counterparts.
Request Brochure of Membrane Filters Market : https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=46170
Hence, increase in urbanization poses a serious threat to the water resources of the region. Extensive use of membrane filters in the oil & gas and transportation industries, especially aerospace & aviation, is another major reason boosting the demand for membrane filters in industrial processes. Among applications, the aerospace & aviation segment is expected to account for 24.92% share of the market, while the oil & gas segment is likely to constitute 23.8% share by 2025. The water & wastewater treatment segment held a major share of the market in 2016 and is anticipated to grow rapidly during the forecast period at a CAGR of around 10.0% from 2017 to 2025.
Polyethersulfone (PES) membranes segment to drive membrane filters market
In terms of material, the polyethersulfone (PES) membranes segment constituted a major share of the global membrane filters market. Extensive use of PES membranes in the healthcare industry for monoclonal antibodies and vaccine production and for protein separation are the major factors driving the segment. Cellulose-based membranes are also highly preferred due to their intrinsic properties, such as, hydrophilicity, high porosity, and good polymer flexibility, which are beneficial in water treatment plants for reverse osmosis.
The Asia Pacific to register exponential growth and offer the significant incremental opportunity
In terms of value, Europe led the global membrane filters market, accounting for more than 36.2% share in 2016. Recent innovations in the field of membrane filtration are supporting the growth of the membrane filters market in Europe. Several associations, organizations, and societies are actively engaged in the expansion and implementation of membrane technology in various industries, including pharmaceutical, chemical, environmental, and food. Organizations such as the European Desalination Society (EDS) and the European Membrane House (EMH) promote the use of membrane filters in universities, companies, research institutes, and government agencies. In addition, high demand from municipal and industrial sectors for ultra-pure water is likely to drive the growth of the membrane filters market in Europe further.
The Asia Pacific is expected to be a rapidly growing market for membrane filters during the forecast period. It held the second leading position in terms of market share in 2016. The Asia Pacific, being home to more than 50% of the total global population, represents a highly lucrative market for membrane filters. High population growth, shortage in purified drinking water, and frequent droughts are the main factors which drive the membrane filters market in the region. In addition, rapid urbanization, rising disposable income in countries such as India, China, and Japan, and acceptance of membrane filter technologies by the government for wastewater treatment, food & beverage industry, and by healthcare professionals are estimated to boost the market during the forecast period.
Key players such as The Dow Chemical Company and Pall Corporation likely to lead the global membrane filters market
The report also profiles leading players operating in the global membrane filters market, such as, The Dow Chemical Company, Pall Corporation, Sartorius AG, 3M, Amazon filters, Advantec MFS, Inc., Koch Membrane Systems Inc., GE Healthcare, Merck Millipore, Novasep, and TriSep Corporation (Microdyn-Nadir US, Inc.). Easy commercial availability of membrane filters, well-established distribution channels, and ample supply capability are the major factors that play an important role in determining the leading market position of these players. Furthermore, acquisitions, collaborative agreements with other companies, and business divestiture are the key strategies usually adopted by these players to secure and strengthen their position in the market. Pall Corporation was the leading player in the global membrane filters market in 2016 due to its judicious product pricing, competent marketing strategies, a large number of customer service hubs and onshore distribution centers, implementation of inside and outside sales force distribution model, and wide geographical reach.