Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
The global membrane filtration market is estimated to garner a sizeable revenue by growing at a notable CAGR over the forecast period, i.e., 2021 – 2029. The growth of the market can be attributed to factors such as rising awareness of consumers regarding the benefits of filtration processes, increasing demand for premium quality membrane filtration systems, and stringent government regulations associated with the conservation of water. Along with these, rise in technological advancements in developing effective purification technologies is also expected to impact the market positively.
The market is segmented by type into ultrafiltration (UF), microfiltration (MF), nanofiltration (NF), and reverse osmosis (RO), out of which, the reverse osmosis segment is anticipated to hold the largest share in the membrane filtration market on account of the high efficiency of this process in view of water purification and ability to remove majority of the mineral contaminants effectively. Based on application, the segment for water is expected to grow with the highest CAGR during the forecast period, which can be credited to the increasing usage of filtration techniques for the removal of harmful microbial microorganisms from water. According to the World Health Organization, around 2 billion people use drinking water source contaminated with feces. The growing emphasis of governments to reduce the consumption of chemicals in water treatment is also projected to boost the growth of this segment over the forecast period. On the basis of filter design, the tubular systems section is evaluated to witness the fastest growth in the coming years owing to the effectiveness of these equipment in producing high-level processed water, and the rise in demand for these systems in the beverage and dairy industries.
Geographically, the membrane filtration market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in Asia Pacific region is estimated to grab the largest market share and witness noteworthy growth over the forecast period on the back of increasing usage of membrane filtration systems for water purification purposes. Furthermore, China’s market is expected to generate the largest amount of revenue in the future owing to the increasing population and the rise in demand for sustainable techniques to remove impurities from water. China’s population grew by approximately 0.40 % in the year 2020. However, India is expected to be one of the most crucial nations for this region’s market expansion in the forecast period accounting to the growing requirement for filtration in the dairy and food industries, intensifying application of membrane filters during the production of functional foods, and the increasing purchasing power of population.
The membrane filtration market is further classified on the basis of region as follows:
Our in-depth analysis of the membrane filtration market includes the following segments:
FREQUENTLY ASKED QUESTIONS
Increasing consumer awareness regarding water filtration processes is expected to drive market growth.
The market is anticipated to attain a notable CAGR over the forecast period, i.e., 2021- 2029.
Expensive implementation of membrane filtration systems is estimated to hamper the market growth.
Asia Pacific region is estimated to provide more business growth opportunities on the back of increasing demand for membrane filtration for water purification.
The major players in the market are The Dow Chemical Company, Pall Corporation, 3M Company, Suez WTS USA, Inc., and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by type, application, membrane material, filter design, and by region.
The water segment is anticipated to hold largest market size and is estimated to grow at a significant CAGR over the forecast period and display significant growth opportunities.
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