Global Membranes Market 2024-2032
MARKET OUTLOOKBased on Triton’s research report, the global membranes market is estimated to advance with a CAGR of 6.74% during the forecast period 2024-2032.
Varied factors, including the rising concern over water treatment, influence the membranes market’s growth. As the problem of water scarcity and depleting freshwater resources arises across countries, providing fresh and good-quality drinking water is a priority. Additionally, industries causing water pollution also create a demand for membrane technologies in sustainable wastewater treatment.
On the contrary, the high capital costs required for the adoption and expansion of membranes are a major hurdle for the industries. The maintenance and operational expenses for membrane solutions are an additional financial burden on the small and large industries, which hampers the membranes market growth.
REGIONAL OUTLOOK
The global membranes market covers Latin America, Europe, Asia-Pacific, North America, and the Middle East and Africa regions.
Asia-Pacific is expected to undergo the fastest growth over the forecast period. Encompassing China, Japan, India, South Korea, New Zealand, Australia, ASEAN countries, and the Rest of Asia-Pacific, this region is witnessing rapid industrialization, including manufacturing, pharmaceuticals, and chemicals. This economic growth led to an increase in the demand for efficient membrane solutions for water treatment.
COMPETITIVE OUTLOOKThe major market players in the membranes market are Ion Exchange Ltd, Pentair Plc, Parker-Hannifin Corporation, Corning Incorporated, Mann+Hummel, Asahi Kasei Corporation, Dupont De Nemours Inc, 3M Company, Suez SA, and Toray Industries Inc.
Ion Exchange (India) Ltd provides solutions for managing water in homes, industries, hospitals, and schools to ensure clean water. The company specializes in high-purity water systems, wastewater treatment, recycling sewage water, groundwater treatment, drinking water treatment, municipal sewage treatment, etc. The company operates in Europe, North America, and Asia-Pacific and is headquartered in Mumbai, India.