Membrane Market to See 8% Annual Growth Through 2024

Industry Boosted by Expanding Market for Desalination

July 18, 2019

WELLESLEY, Mass., July 18, 2019–The expanding market for desalination and increased applications in processed water treatment are two factors driving growth in the global membrane market, according to a report by BCC Research, “Top 10 Membrane Companies.”

The market expects to see a compound annual growth rate (CAGR) of 8% through 2024, when it could be worth $14.6 billion.

Major players in the market include: Asahi Kasei (AHKSY), Toray Industries (TRYIY), Koch Membrane Systems and Microdyn Nadir.

Research Highlights

  • Membrane module sales for liquid separations are forecast to increase at a CAGR of 5.9% while combined sales of products used in gas separation, pervaporation and novel processes are predicted to grow by 7.3% annually.
  • The United States consumes between 35% to 45% of all membrane modules produced worldwide.
  • The U.S. market will grow more slowly than the rest of the world, reaching a value of $5.4 billion by 2024 at a CAGR of 5.7%

“The fragmented and dissimilar businesses centered on membrane technology do not constitute an industry in the true sense of the word,” write BCC analysts. “With the exception of the top three or four very large manufacturers, membrane providers tend to focus on particular applications or specialization fields. Most segments of the membrane business are regulation driven, whether by EPA, FDA or National Institute of Standards and Technology (NIST) regulations or industry manufacturing codes.”

The Role of Other Industries in the Membrane Market

Growth of the membrane market is closely tied to other industries. Most manufacturers produce fluids that must be processed and waste streams that need to be cleaned before they are disposed or recycled back to production. Increased production also means more water, wastewater and recycling opportunities.

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Top Ten Membrane Companies( MST069A )
Publish Date: Jul 2019    

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