According to a new study by Grand View Research, Inc., the membrane separation market is expected to witness growth over the forecast period. This can be attributed to factors including growing environmental concerns and government regulations pertaining to water and waste-water treatment. High investments in industrial equipment on account of increasing manufacturing activities are expected to favorably impact market growth over the forecast period. Membrane separation systems help industries re-use waste-water and reduce water footprint. Increased R&D activities and development of membrane separation processes and applications such as hybrid forward osmosis and forward osmosis for water desalination are expected to positively impact market growth over the next few years. Lack of sufficient funds in developing countries along with high operational and installation costs may hamper market growth.
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Further key findings from the study suggest:
- Microfiltration emerged as the dominant product segment in 2013, accounting for over 30% of the membrane separation market in the same year. These cost effective membranes are used across a diverse range of applications, which is expected to drive market growth. Ultrafiltration is expected to be a high growth segment, which can be attributed to its ability to retain high concentrates, which help minimize disposable cost for several industries.
- Water & waste-water treatment application segment contributed over 35% to the overall market share in 2013. Growing environmental concerns coupled with stringent regulations related to water and waste-water treatment are expected to drive market growth.
- Europe emerged as the most dominant regional market in 2013, contributing over 35% to the global membrane separation market. Growth across the industrial sector is expected to positively impact the regional market over the next six years. Asia Pacific is expected to witness high growth over the forecast period, which can be attributed to increasing manufacturing activities and stringent regulations related to water and waste-water treatment.
- Key market players include 3M Purification Inc, GEA Filtration., Koch membrane systems, Pall Corporation, Merck Millipore, Nitto Denko Corporation, Veolia Environnement and Dow Chemical Company. Mergers and acquisitions are expected to remain the key growth strategy adopted by majority of the industrial participants.
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Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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