The worldwide market for membrane filtration is likely to touch US$ 23.3 Billion towards 2030 end. The market is estimated at US$ 14.5 Billion in 2020. If these statistics hold true, the market would reflect a CAGR of 4.9% during 2020-2030. The fast-expanding dairy sector and water health & filtration regulations have notably boosted the market. Additionally, as a result of the expanding need for premium goods and the efficiencies offered by membrane filtration technologies, the requirement for membrane filtration for several ends uses has risen.
Key Takeaways from Market Research
- Based on the application, the water & wastewater category is likely to hold the biggest market share.
- Amid the assessment period, the category of tubular systems in the market for food and beverages is anticipated to reflect faster development.
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- The Asia Pacific regional market is projected to lead the market.
- Expanding stringent government regulations for water filtration and safety are the foremost variables projected to fuel the expansion of the worldwide market for membrane filtration.
- On the other hand, the higher flow rates utilized in cross-flow feed could harm shear sensitive materials is likely to constrain the development of the worldwide market for membrane filtration. Additionally, higher equipment prices might impede market expansion to a certain level.
- On the basis of membrane material, ceramic and polymeric are two foremost categories in the market.
“The rise in need for dairy products, support from the government in water purification for membrane filtration technology, the development in the buying power of the middle-class population for quality goods in addition to the increase in the utilization of functional food are a few of the imperative aspects which are estimated to fuel the need for membrane filtration technology in the APAC region,” said a lead analyst at FMI.
As a result of the growing awareness among customers regarding filtration processes and safety, the requirement for membrane filtration is rising. In addition, progressions in membrane filtration technologies, higher expansion in the dairy sector, and expansion in the bio-based pharmaceutical sector, along with fast progress in generic manufacturing are the foremost aspects which are fueling the market for membrane filtration. The future outlooks for market expansion are probable to be the recycling of utilized water, wastewater purification in addition to the separation of primary ingredients in pharmaceutical synthesis. A higher establishment cost for membrane filtration is, on the other hand, a constraining expansion to an extent.
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COVID-19 outbreak had a significant influence on the utilization pattern of buyers. The concentration on hygiene and health products and an increase in the need for healthy organic food are suggestive of foremost shifts in customer behavior. This would invariably influence expansion forecasts for the market. Conversely, major companies in the market for membrane filtration anticipate cash flow and supply chain disruptions to stay the biggest hurdling even in the post lockdown scenario. Trailing the COVID-19 outbreak, market players functioning in this market are under pressure to convey products to the market in time. These expansions could have a notable influence on the market.
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