Polymeric Membrane Global Market Reprot 2023: Sector to Reach $9.47 Billion by 2028 at a CAGR of 4.09% - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Global Polymeric Membrane Market: Analysis By Technology (Reverse Osmosis, Ultrafiltration, Microfiltration And Nanofiltration), By End Sector, By Region Size And Trends With Impact Of COVID-19 And Forecast Up To 2028" report has been added to ResearchAndMarkets.com's offering.

The global polymeric membrane market in 2022 was valued at US$7.44 billion. The market value is projected to reach US$9.47 billion by 2028.

Polymeric membrane refers to a collection of polymers with improved and more efficient mechanical properties for membrane filtration. Polymeric membrane has high performance, efficiency, and particular separation properties.

They are cost-effective, have high selectivity, and are simple to prepare and operate in a variety of applications such as beverage processing, feed water generation, chemical processing, and others.

The market value is expected to grow at a CAGR of 4.09% during the forecast period of 2023-2028, with water treatment polymeric membrane segment being the dominant sector owing to rising population and water pollution. Ensuring adequate clean water supplies for ever growing population will likely require increased investment in water processing technology.

Additionally, the increasing presence of emerging pollutants in the aquatic environment is leading the market to find innovative technologies to purify water.

Furthermore, in regions with water scarcity, the provision of water from seawater desalination plants is becoming increasingly important, which is expected to propel the reverse osmosis technology in the polymeric membrane market during the forecast period.

Market Dynamics

Growth Drivers

• Increasing Need for Water Purification System
• Growing Adoption in Pharmaceutical Industry
• Rapid Increase in Population
• Surging Demand From Food & Beverage Industry
• Stringent Wastewater Regulations
• Escalating Water Pollution

Challenges

• Need for Frequent Replacements of Barrier Films
• Maintaining Low Cost Of Production

Market Trends

• Proliferation Of Blood Transfusion and Apheresis Membrane
• Proton Exchange and Anion Exchange Membrane
• Water and Wastewater Treatment Digitalization

Market Segmentation Analysis:

• By Technology: The report provides the bifurcation of the market into four segments based on the technology: reverse osmosis, ultrafiltration, microfiltration and nanofiltration. In 2022, in terms of value, reverse osmosis polymeric membrane segment held the major share in the market. Reverse osmosis is largely used for the desalination of seawater as it can separate dissolved solids, bacteria, viruses, and other selected dissolved substances. Considering the rising trend of reverse osmosis membrane use in alternative water source treatment, including desalination plants and wastewater recycling, the reverse osmosis membrane-based water and wastewater treatment processes are expected to have a great potential in the future.
• By End Sector: The report provides the bifurcation of the market into into four segments based on the end sector: water treatment, wastewater treatment, medical polymeric membrane and industrial polymeric membrane. In 2022, water treatment held the major share in the market, followed by wastewater treatment. The survival of human life depends on the availability of freshwater for drinking. Owing to urbanization stemming from the rising global population, the demand for water purification system has increased over years. These water purifying systems largely use polymeric membrane to carry out the filtration process. Besides, the global commitment to reducing plastic consumption and increasing number of desalination projects to bring clean water to rural areas and emerging countries using affordable and safe filtration systems is expected to drive the demand for polymeric membrane during the forecasted years.

Companies Mentioned

• Toray Industries, Inc.
• Nitto Denko Corporation (Hydranautics)
• Danaher Corporation (Pall Corporation)
• Parker Hannifin Corporation
• Pentair plc
• Alsys Group
• Membrane Technology & Research (MTR)
• Arkema S.A
• Evonik Industries AG
• Honeywell International Inc.
• Daikin Industries, Ltd
• Solvay S.A.
• LG Chem Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/yoqo25-polymeric?w=4

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