Membrane Separation Technology Market Growth & Trends
The global membrane separation technology market size is expected to reach USD 62.4 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 12.2% from 2022 to 2030. This growth can be attributed to the rising adoption of membrane separation technology in the dairy processing and beverages industry. The market is likely to witness growth owing to the growing demand for water treatment processes across the world. One of the major reasons for the rise in demand for water treatment is the scarcity of quality drinking water. The growing population has accelerated the depletion of water resources coupled with the contamination of ground and surface water bodies, which has encouraged the adoption of water treatment processes.
The growth of membrane separation technology is also influenced by several regulatory and technology trends, which play a critical role in driving the market. In addition, stringent environmental regulations governing wastewater discharge are presumed to positively impact the growth of membrane separation technology over the forecast period. The ultrafiltration technology segment is estimated to grow at the highest rate over the forecast period. It is a single-membrane filtration process that serves as an effective barrier to harmful bacteria, viruses, and other contaminants. It has emerged as an economical and versatile solution for clarification, concentration, and purification of various types of liquids such as water, milk, and oils.
Key players in the market are focusing on achieving optimal operational costs, enhancing product quality, maximizing production output, and the acquisition of small players to sustain the competition. Furthermore, the players are focusing on recovering and recycling the end-of-lifecycle membranes to reduce the raw material costs and complete the circular economy in membrane manufacturing.
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Membrane Separation Technology Market Report
Membrane Separation Technology Market Report Highlights
- Reverse osmosis emerged as the largest technology segment with a market share of 42.0% in 2021. This is attributed to its widespread utilization in residential and industrial applications. Furthermore, the growing adoption of reverse osmosis as an alternative to the thermal desalination process is expected to boost segment growth
- Various governments and several regulatory agencies have issued multiple regulations and mandates concerning water treatment and disposal to safeguard the environment. Strict enforcement of these regulations is prompting industries to adopt environment-friendly wastewater treatment processes, thereby, favorably influencing the global demand for membrane separation technologies
- In North America, the market is anticipated to experience rapid growth on account of the rapid adoption of the technology for its utilization in application industries. The demand for ultrafiltration in North America is expected to witness growth at a rate of 10.9% over the forecast period owing to stringent norms and industrial laws governing water filtration performance and standards established by the EPA
- The COVID-19 outburst across the globe severely impacted the trade relations of major players. The supply of raw materials and finished goods has been hampered owing to restrictions on trade and manufacturing in some economies. However, gradual resumption of industrial activities and trade operations to smoothen economic conditions, several economies are offering ease in trade operations, thus, are positively impacting the market
- The market is dynamic and competitive. The players in membrane separation technology are increasingly focusing on mergers and acquisitions, joint ventures, and agreements
