Membrane Separation Technology Market Size, Share & Trends Analysis Report By Technology (Microfiltration, Ultrafiltration, Nanofiltration, Reverse Osmosis), By Application, By Region, And Segment Forecasts, 2022 - 2030
Membrane Separation Technology Market Growth & Trends
The global membrane separation technology market size is expected to reach USD 62.45 billion by 2030 expanding at a CAGR of 12.2% during the forecast period, according to a new report by Grand View Research, Inc. This growth can be attributed to the growing population that 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 and thus increased the demand for membrane separation technology.
Industry participants in collaboration with research institutes are undertaking various R&D projects to improve and accelerate the membrane separation manufacturing technology. Increasing investments and continuous R&D in membrane separation technology have led to the introduction of products with enhanced durability and higher flow rates. Moreover, manufacturers are developing industry applications to address the specific requirements of the end-use industries.
Technological advancements related to durability enhancement and reduction of fouling potential are expected to have a favorable impact on the widespread adoption of membrane separation technologies. Manufacturers have also developed membrane separation technology that can withstand high operating temperatures and harsh chemical environments. Moreover, advancements in manufacturing technologies have enabled manufacturers to make considerable improvements in increasing the membrane surface area per module.
The high prices associated with membrane modules have been posing a major challenge to membrane separation technology. High prices of principal raw materials such as Polyethersulfone (PES) and Polyvinylidene Fluoride (PVDF) coupled with complicated manufacturing processes are the principal factors driving up the membrane separation prices.
Manufacturers of membrane separation technology distribute their products through third-party distributors or often opt for direct distribution. As the product finds a wide range of applications in the industrial sector, manufacturers often cater to this sector through filtration equipment manufacturers and system integrators through direct distribution.
Membrane Separation Technology Market Report Highlights
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