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Membrane Microfiltration Market to exceed US$ 8 Billion by 2028- TMR

1140 Days ago

Membrane Microfiltration Market: Water Treatment and Purification Presents a Major Opportunity

Albany, New York, May 16, 2019 (GLOBE NEWSWIRE) -- The global membrane microfiltration market is witnessing a growing investment in research and development. Daily products filtration has been used for more than 40 years. However, new applications for market players also include various processes such as waste treatment, biodegradation, nanofiltration, and adsorption on activated carbon. The growing application are coupled with various advancements in membrane filtration. Earlier ceramic membranes were commonly used in industries. However, these were extremely expensive and are being replaced by organic membranes. So, new materials are making great headway into operations to lower costs significantly and extend the applications further.

The membrane microfiltration market is likely to register a 7.5% CAGR during 2018-2028. TMR reports that the worldwide demand for products in the market will reach over US $8bn by 2028. Among various applications, the conventional dairy and food processing application is expected to shape the growth of the market. Region-wise, the global membrane microfiltration market will register the highest revenue figures in North America.

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Water Treatment and Purification Presents a Major Opportunity

Growing pollution worldwide has threatened key resources like water reservoirs in many places around the world. According to a recent UN report, nearly 75% of freshwater resources are now devoted to livestock and crop production. Moreover, toxic waste in water reservoirs have led to the creation of about 400 ocean ‘dead zones’, which are greater than the size of United Kingdom. On the other hand, ultrafiltration and microfiltration are making inroads in water purification. Earlier, the process was limited to the use of reverse osmosis. The process was commonly used for deionization and production of drinking water. However, porous membranes available with the microfiltration processes are enhancing the conventional application. The low initial investments and growing demand in municipal water treatment solutions are main factors behind its growth. The low operational costs, growing use of organic materials, and growing water scarcity are expected to drive significant growth for the membrane microfiltration market in the near future.

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Bio Refineries to Energies the Membrane Microfiltration Market

The membrane microfiltration market is witnessing a growing demand in the bio-energy market. While bio-energy still represents an alternative form of energy, microfiltration process promise to reduce energy production costs. Additionally, the process reduces bio waste and is growing in demand for various production needs. An example of this is the biodiesel process, which is considered extremely heavy resource consuming and laden with high water pollution. The membrane microfiltration process minimizes the water pollution and allows water reusability. Moreover, the membrane microfiltration market is also witnessing robust growth in conventional food and beverage space, wherein growing demand for bottled water and beverages like beer present new opportunities. The membrane microfiltration is expected to find new avenues for growth as increasing regulations, and global agreements bring more focus on water quality.

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Growth in the pharmaceutical market are also expected to present new avenues for growth. This includes applications in biopharmaceuticals, which is necessary for removing cellular debris. The biopharmaceutical market is witnessing a mass adoption of large-molecule due to growing therapeutic properties. New therapeutic treatment for chronic illnesses like caners are on the horizon, expected to carve an adventurous journey for players in the global membrane microfiltration market.

The global membrane microfiltration market will likely register a robust growth in the near future, thanks to conventional applications in filtering milk and growing expansion in other industries. The membrane filtration market is a competitive and fragmented market, due to growing emergence of small regional players, reports Transparency Market Research (TMR). Some key players in the membrane filtration market include DOW Chemical Company, Suez Water Technologies & Solutions, Veolia Water Technologies, 3M Company, Aquatech International, and Aquabio.

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This information offers a glimpse of the recently published TMR report titled, “Membrane Microfiltration Market (Material Type- Cross Flow Membranes and Direct Flow Membranes; Application- Biopharmaceutical Processing, Water Treatment Application, Dairy & Food Processing, Chemical Application, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2028.”

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About TMR

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.


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