Filter membranes are special kind of materials that allows certain constituents to pass through them and restricts or blocks the flow of others. Membranes are primarily used as filtering agents in industrial and commercial applications. Some of the advantages offered by membranes include porosity, durability, stability, selectivity and permeability.
The global Filter membrane market is anticipated to witness a substantial compound annual growth rate (CAGR) of 9.6% from 2015 to reach USD 33.0 Billion by the end of 2021. Regionally, the global membrane market is segmented into North America, Latin America, Western and Eastern Europe, Asia-Pacific, Middle East and North Africa (MENA) and Rest of World (Row).
Market Size and Forecast
With approximately 37.4% share, Asia-Pacific dominated the global Filter membrane market in 2015. The region is also anticipated to witness the highest CAGR during 2015-2021. Asia-Pacific membrane market is sparked by increasing industrialization and rapidly expanding population in countries such as India and China.
North America membrane market is likely to witness a modest CAGR of 7.3% over the forecast period of 2015-2021. With 87.2% share in 2015, the U.S. held the largest Filter membrane market in North America.
Europe is believed to be the most mature membrane market across the globe. The market in the region is anticipated to behold a CAGR of 6.4% from 2015-2021. With 36.6% share in 2015, Germany and France held the largest membrane market in Europe. CLICK TO DOWNLOAD FREE SAMPLE
The study further analysis the Y-O-Y Growth, demand & supply and forecast future opportunity in North America (United States, Canada), Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa).
Growth Drivers and challenges
Rising demand of treated water in various industrial applications coupled with increasing application of membranes in sewage and ground water treatment is likely to spark the growth of global Filter membrane market over the forecast period i.e. 2015-2021.
In addition to that increasing government regulations to recycling and reuse of waste water is also envisioned to bolster the Filter Membrane market over next 4-5 years.
However, high cost of usage and timely replacement and expensive support services etc. are anticipated to restrain development of the global Filter membrane market in future.
Global Filter membrane market includes some of the top players such as DOW Chemical Company, Hyflux Ltd, LG Water Solutions, Toray Industries, Inc., GE Water & Process Technologies, Koch Membrane Systems, Inc., etc.
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