The global membrane filtration market was valued at USD 11.93 Billion in 2017. It is projected to reach USD 17.34 Billion by 2023, at a CAGR of 6.5% from 2018.
Northbrook, IL -- (SBWIRE) -- 04/19/2018 -- The report "Membrane Filtration Market by Type (RO, MF, UF, NF), Application (Water & Wastewater, Dairy Products, Drinks & Concentrates), Membrane Material (Polymeric, Ceramic), Module Design (Spiral, Tubular), and Region - Global Forecast to 2023", The membrane filtration market is estimated to be valued at USD 12.66 Billion in 2018 and is projected to reach USD 17.34 Billion by 2023, at a CAGR of 6.5% from 2018.
Browse 66 market data Tables and 44 Figures spread through 156 Pages and in-depth TOC on "Membrane Filtration Market - Global Forecast to 2023"
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The market is driven by the factors such as growth of the dairy industry across the world, advantages offered by membrane filtration technologies (reverse osmosis, ultrafiltration, microfiltration, and nanofiltration), and the rise in demand for high-quality and safe food products. Furthermore, extensive R&D activities are promoting the growth of the membrane filtration market to a great extent. Significant developments have been made with reverse osmosis, ultrafiltration, microfiltration, and nanofiltration technologies in terms of various food, beverages, and water applications.
By type, reverse osmosis segment to lead the membrane filtration market from 2018 to 2023
The reverse osmosis (RO) segment is projected to grow at the highest CAGR among all membrane filtration technologies from 2018 to 2023. RO is very effective in eliminating harmful contaminants from water as well as minerals such as iron, fluoride, lead, salt, manganese, and calcium. It offers high efficiency in terms of water purification as it can remove up to 99% of the mineral contaminants. Due to these factors, this segment is projected to grow at a significant rate in the future.
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Food & beverages segment projected to grow at the highest CAGR, by application, from 2018 to 2023
The food & beverages segment of the global membrane filtration market is projected to grow at a higher CAGR during the forecast period. Membrane filtration technologies are gaining significant acceptance in the food & beverages industry for increasing the safety, quality, and shelf life of the food & beverage products. It offers various effective functions such as concentration and fractionation of skim milk and whey, bacteria removal and demineralization of whey, cheese purification, and lactose reduction in milk, as well as taste, color, and shelf life enhancement of the food products.
Ceramic segment projected to grow at the highest CAGR, by membrane material, from 2018 to 2023
The ceramic segment, by membrane material, is projected to grow at a significantly higher rate during the forecast period. Owing to properties such as extremely high chemical and physical stability, long lifespan, and effective separation, this type of membrane is majorly utilized in the water processing industry. Furthermore, these membranes have high potential of usage in the food & beverage industry for several applications due to the growing innovations, non-chemical nature and durability.
Tubular system segment projected to grow at the highest CAGR, by module design, from 2018 to 2023
These modules are widely utilized for water applications as they are highly efficient in removing contaminants and producing high-quality processed water. Furthermore, tubular system modules are steadily gaining importance in the dairy and wine industries. In dairy products, they are used for the reduction of bacteria in milk, whey, whey protein concentrates, and brine. Whereas, in the wine industry, they are used for the filtration of wine.
Asia Pacific is projected to be the fastest-growing region during the forecast period.
The Asia Pacific region is projected to grow at the highest CAGR during the forecast period. The Asia Pacific market is mainly driven by the factors such as increased usage of membrane filtration in water processing plants for purification and in dairy and other food industries for separation, sterilization, and concentration processes. Furthermore, growth in demand for dairy products, government support for membrane filtration technology in water purification, growth in the purchasing power of the middle-class group for premium products, and increase in consumption of functional foods are some of the key factors that are expected to fuel the demand for membrane filtration technologies in this region.
China accounted for the largest country-wise market for membrane filtration in the Asia Pacific region, and is majorly driven by increase in the usage of membrane filtration technologies for water purification. The growing population in this country has increased the need for sustainable purification technologies, in order to ensure the supply of safe drinking water.
This report includes a study of business strategies, along with the product portfolios of leading companies. It includes the profiles of leading companies such as 3M Company (US), Pall Corporation (US), Dow Company (US), Koch Membrane System (US), and Veolia Water Technologies (France).
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