Nanofilteration Membrane Market to See Strong Expansion Through 2030
Nanofilteration Membrane Market is valued around USD 715.9 Million in 2019 and expected to reach USD 1290.1 Million by 2030 with the CAGR of 5.4% over the forecast period.
Nanofilteration membrane is a thin film of polymer with pore size of 1-10 nanometers which possesses electrical effects with ion exchange mechanism to allow the filtration of synthetic ions. Due to the high standard of water purity set by the regulatory bodies with least use of chemicals propel the use of nanofilteration membrane. These membranes remove the organic & synthetic waste from the water with wide applications in different industries.
Global Nanofilteration Membrane Market report is segmented on the basis of product type, application and by regional. Based upon product type, the nanofilteration membrane market is fragmented into polymeric, inorganic, hybrid, and others. On the basis of application, the market is categorized into water & wastewater treatment, food & beverage, industrial biotechnology, pharmaceutical intermediates, agriculture, textile & others. The regional bifurcation of countries includes North America, Europe, Asia-Pacific, and RoW which are further segmented into major countries such as U.S., UK, France, and others.
The nanofilteration membranes market is mainly driven by the constant growth in the waste water treatment plants with growing water pollution over the period of time. Moreover, wide applications from different industries and stringent government policies for water purification are likely to enhance the market growth. On the other hand, rapid industrialization with rapid urbanization and least use of chemicals has also amplified the use of nanofilteration membrane market. Technological advancement along with the development of food and beverage industry as well as growing population demand is also expected to direct the market growth over the forecast period. However, stringent regulatory policies with high cost & sensitivity towards chlorine may restrict the market growth. On the contrary, high investments on research & development are expected to create new avenues in the nanofilteration market.
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The developed regions such as North America and Europe are expected to hold the major market share owing to the presence of developed infrastructure with technological advancements as well as wide applications. Moreover, Asia Pacific is expected to dominate the nanofilteration membrane market in terms of growth rate owing to the rapid industrialization & urbanization along with increase in waste water treatment plants. Moreover, presence of developing economies with growing water pollution and high standards of water purity has amplified the demand of nanofilteration membrane market.
The major market players profiled in the nanofilteration membrane market includes Koch Membrane Systems, Inc., Applied Membranes, Inc., Inopor, Alfa Laval, Danaher, DowDuPont Inc., Argonide Corporation, Nitto Denko Corporation, GEA Group Aktiengesellschaft, and Toray Industries, Inc. among others.
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