The Global Membranes Market is expected to be valued at USD 10.81 Billion in 2027 from USD 5.59 Billion in 2019, registering a CAGR of 9.1% through the forecast period. The exponential growth of the market can be credited to the growing requirement of reclaiming and cleaning the water from various wastewater sources for reusing purposes. The augmented use of membranes to produce potable drinking water from groundwater, seawater sources, and surface water are projected to add traction to the market growth.
Extensive research and development activities for upgrading the wastewater treatment procedures and desalination are estimated to further boost the market growth in the forecast timeframe. Municipal corporations are extensively using microfiltration and ultrafiltration for wastewater and water treatment. The excellent attributes of membrane filters, such as increased efficiency and long filtration media life, have augmented the use of membrane technology in water treatment. Moreover, the membrane technology requires less space, i.e., a smaller footprint in comparison to the traditional technologies, which is, in turn, adding to the market growth.
However, municipal corporations have a scarcity of financial resources to boost the advancement in membrane technology for its extensive usage in the treatment of wastewater and water. This can potentially impede the market growth over the projected timeframe. But, the long-term research and development activities in nanotechnology are foreseen to generate lucrative growth opportunities for the market players in the coming years. The use of advanced nanotechnology solutions is projected to enhance the efficiency of the wastewater treatment plants in the forecast timeframe.
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For the purpose of this report, Emergen Research has segmented the Global Membranes Market on the basis of technology, material, application, and region:
Technology Outlook (Revenue, USD Billion; 2017–2027)
Material Outlook (Revenue, USD Billion; 2017–2027)
Application Outlook (Revenue, USD Billion; 2017–2027)
Regional Outlook (Revenue, USD Billion; 2017–2027)
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