The issue of the water quality deterioration which is perceivably leading to deprivation of potable water is creating a consistent demand for water treatment. Furthermore, stringent government regulations are applicable to wastewater that comes out of production plants belonging to various industries. This is creating a requirement for toxic chemical water treatment in pharmaceuticals, oil & gas, and other industries, which in turn, is leading to an expansion in the membrane separation technology market size.
The augmented demand is inspiring companies to expand production capacities in order to increase their membrane separation technology market share. For instance, in October 2017, Sumitomo Electric Industries, Ltd. expanded and reinforced the production capacity of water treatment membrane modules at its subsidiary Zhongshan Sumiden Hybrid Products Co., Ltd. (ZSH).
As of 2018, the membrane separation technology market size was evaluated at $21.82 billion, and it is projected to expand at a profitable CAGR of 7.5% during the forecast period 2019-2025. Owing to the increasing opportunities, more companies will expand their capacities in order to acquire maximum membrane separation technology market share.
Water & Wastewater Treatment Application Segment of the Membrane Separation Technology Market to Expand at a CAGR of 7.8% through to 2025:
Invariably, the industries offer maximum opportunities to the membrane separation technology market players. The contemporary boom in the pharmaceutical and oil & gas is the most effective factor driving membrane separation technology market revenue sources, because the operational units require permeable membrane, reverse osmosis membrane, and ultrafiltration membrane for water and wastewater treatment. With the impending industrial boom across the world which is evident in the capacity expansion by a myriad of companies in various industry verticals, the market is poised to gain exuded momentum in the future.
The emphasis on potable water and wastewater treatment in European countries will create lucrative opportunities for the membrane separation technology market companies in the region. In 2018, Europe had the maximum market share with 33% in the revenues. This is because of the fact that companies have realized the opportunity in the region and have been expanding their businesses in European countries. For instance, in 2016, Evonik Industries AG broke ground for expansion of its membrane production in Schorfling (Austria).
The upcoming years will also witness a market boom in APAC, and the region is already witnessing expansion projects. For instance, Toray Industries, Inc. is poised to double its water treatment membranes production capacity in China. Similarly, other players will venture into the growing APAC membrane separation technology marketplace in order to increase their revenues during the forecast period.
Top 10 Membrane Separation Technology Market Companies:
The companies with the maximum market share are The Dow Chemical Company, The 3M Company, GE Water & Process Technologies, Toray Industries, Merck Millipore, Asahi Kasei Corporation, Hydranautics, Danaher Corporation, Pentair plc, and Koch Membrane Systems Inc.