Asia membrane market sales accounted for 37.2% of global sales in 2014

London 12/09/2015 10:55 AM GMT (TransWorldNews)

The global membranes market is projected to grow at a CAGR of 9.47% from 2015 to reach a value of USD 32.14 Billion by 2020. The global market for membranes was dominated by Asia-Pacific, accounting for 37.21% of the total market share in 2014. The market for the Asia-Pacific region is projected to growth at the highest CAGR between 2015 and 2020. This growth has been attributed primarily to the fast growing water, industrial gas treatment, pharmaceutical, and food & beverage industries. Country wise, China was observed to be the largest consumer of membranes globally, and is also projected to grow at the second-highest CAGR in Asia-Pacific between 2015 and 2020. India and China have enormous potential and are projected to be the fastest-growing markets for membranes globally. North America accounted for the second-largest share of 27.08% in 2014. However, the market for North America is fairly mature, and hence, the market in this region is projected to grow at a moderate CAGR of 7.17% between 2015 and 2020. The U.S. accounted for the largest market share of 87.04% in North America in 2014, in terms of value. However, Canada is expected to drive the growth of the market for membranes in North America as it is a relatively less explored market and the rapidly growing pharmaceutical, food & beverage, construction industries, and industrial gas processing application are directly driving the demand for membranes in the country.

The European countries are leading in research and development of high performance membranes products to be used in various applications. The European market for membranes is the most mature market globally and it is projected to witness a CAGR of 6.25% between 2015 and 2020. Germany and France were observed to be the largest market share holders, together accounting for 36.41% of the total European membranes market in 2014. Russia is a relatively less explored market in Europe, and hence, is projected to drive the growth of the membranes market in the region.

The microfiltration, reverse osmosis, and ultrafiltration technologies together accounted for the majority market share of 78.36% in 2014 in the membranes market. Nanofiltration technology is projected to grow at the fastest CAGR between 2015 and 2020 and this growth is attributed to the rapidly growing application areas for nanofiltration and the superior level of performance as compared to certain other technologies. The market for microfiltration garnered a market size by value of USD 5,939.0 million in 2014 and is projected to grow at a CAGR of 8.06% from 2015 to reach a market size of USD 9,477.2 million by 2020.

Asia-Pacific and North America are the key markets for membranes, whereas the developing economies such as the Middle East & Africa (MEA) and Latin America (LATAM) are projected to witness high growth rates between 2015 and 2020.

The global membranes market is dominated by Asia-Pacific and North America, accounting for the largest market share in 2014. Within North America, the U.S. was observed to be the largest consumer of membranes. This market is mainly driven by water & wastewater treatment, pharmaceuticals & medical uses, food & beverages, and chemical processing sectors. The growing pharmaceutical and industrial development in North America and Asia-Pacific are driving the growth of this market.

MEA region is expected to register the highest growth rates for the membranes market due to the high demand for the desalination and wastewater treatment units in the region. MEA is followed by LATAM in terms of growth rate. Overall, the market's growth is driven by the growing need for water & wastewater treatment activities. The MEA region will continue to be supported by the demand for fresh water through desalination projects in Saudi Arabia, Qatar, and U.A.E., thus driving the membranes market in these regions.

Water & wastewater treatment, pharmaceuticals & medical uses, and food & beverages are the topmost segments in terms of market share, whereas the industrial gas processing segment is projected to witness the highest growth rate.

While the water & wastewater treatment and pharmaceuticals & medical segments account for maximum share in the membranes market with approximately 62% share in 2014, maximum growth is projected from industrial gas processing and others segments in the near future. The increasing use of membranes in the oil & gas sector for gas processing, hydrogen production, carbon dioxide removal from natural gas streams, and so on are projected to drive the growth in the membranes market from 2015 to 2020. Also, the demand for membranes is projected to increase in the future with the growth of the emerging economies further strengthening the market.

New product/technological launches is the key strategy adopted by the market players in order to strengthen their existing market position.

The key strategy adopted by the market players was product enhancements between 2010 and 2015. The strategy helped the wastewater treatment segment along with gas industry players on a large scale. The continuous advancements in the product helped companies to treat and handle different types of water compositions. For example, recently, GE announced a new nanofiltration membrane system to remove seawater sulfate (SWS) from injection water for offshore oil production.

Other than product enhancements, capacity expansions were done by the companies to cater to growing demands for membranes in various industries across the globe. Some major acquisitions also took place in 2015 that helped the companies to enhance their membranes business globally. For example, Asahi Kasei Corp. (Japan) acquired Polypore's (U.S.) unit that makes microporous membranes for rechargeable batteries.

Also, 3M made the biggest acquisition in the last eight years by acquiring Polypore's Separations Media business from Polypore International Inc.

Membranes are materials that act as selective barriers allowing the passage of certain constituents and retaining others. These are mainly termed as filtration elements, which are widely used for commercial and industrial purposes. Certain properties of membranes, such as durability, porosity, permeability, stability, and selectivity, make them indispensable element in various industrial applications. Membranes are widely used in the water & wastewater treatment, industrial, laboratory, medical, food & beverage, and research applications to purify, concentrate, sterilize, or separate samples.

Membranes are commonly used in the purification and treatment of drinking & waste water. The demand for membranes is high due to the wide spectrum of their application areas. Membrane technology helps meet the critical separation challenges in the industrial applications, favors reduction of waste, and helps increase general recycling. The increasing environmental concern is also an important factor that influences market growth.

Click for Report details:Membranes Market by Type of Material: Global Trends & Forecasts to 2019


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