LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global membrane market to grow to USD 32.85 billion by 2021, at a CAGR of more than 9% over the forecast period, according to their latest report.
The research study by Technavio on the global membrane market for 2017-2021 provides a detailed industry analysis based on application (wastewater treatment, food and beverage, and pharmaceutical and medical, chemical, and industrial gas processing), technology (microfiltration, reverse osmosis, ultrafiltration, and pervaporation), and geography (APAC, North America, Europe, and ROW).
|A membrane is a type of selective barrier that is used to separate or concentrate a given feed stream. Wastewater treatment is the key application segment of the global membrane market, generating over 53% of the overall revenue (2016 figures). Membranes are mainly employed for the preparation of process water, elimination of microorganisms, water softening and desalination in wastewater treatment.|
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Technavio analysts highlight the following three factors that are contributing to the growth of the global membrane market:
- Increasing incidence of diabetes
- Advantages of membrane technology in pharmaceutical and medical industries
- Growing acceptance of wastewater management
Increasing incidence of diabetes
“Membranes are extensively used in pharmaceutical and healthcare sector in hemodialysis equipment. The global medical membranes market is expected to be worth USD 7 billion by 2021, thereby driving the growth of the membranes market,” says Mahitha Mallishetty, a lead analyst at Technavio for plastics, polymers, and elastomers research.
The rising prevalence of obesity and growing populations of individuals aged above 45 is leading to a high number of people with diabetes. These patients create a high demand for membranes to cater to their periodic hemodialytic treatment needs.
Advantages of membrane technology in pharmaceutical and medical industries
Membranes are widely used for sterilization of pharmaceutical and medical devices and products. The key advantages of adopting membrane technology in the pharmaceutical and medical industries include their selective permeability and the ability to operate at room temperature and generate products with high sterility. Membranes can also provide a high degree automation for cleansing wastewater using minimal resources, making it extremely environment-friendly. These factors increase the demand for membranes in different industries and applications.
Growing acceptance of wastewater management
“The necessity for safe, usable water has created the demand for water recycling, which has led to an increase in demand for membranes in the desalination and wastewater management industries. Also, rising awareness regarding health and safety and stringent environmental regulations are further boosting the adoption of membranes,” says Mahitha.
The increase in economic development and rapid urbanization in emerging countries has increased the need for efficient water management systems. Additionally, the growing demand for wastewater recycling and the need for compliance with environmental regulations in various industrial sectors are driving the demand for membranes.
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