The demand for water treatment membranes and medical membranes will drive the global market, says Frost & Sullivan
SANTA CLARA, Calif., June 23, 2021 /PRNewswire/ — Frost & Sullivan’s recent analysis of the global polymeric membranes market finds that the drive to achieve a circular economy and concerns about water scarcity encourage industrial and municipal stakeholders to adopt membrane-based systems for water and wastewater treatment. This creates a surge in demand for membranes, such as water treatment membranes, wastewater treatment membranes, medical membranes, and industrial membranes across sectors. As a result, the global polymeric membranes market is estimated to garner $9.01 billion by 2027 from $6.76 billion in 2020, an uptick at a compound annual growth rate of 4.2%.
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"Global plans for new desalination plants and municipal wastewater treatment units during the next 10 years present lucrative growth prospects for membrane manufacturers," said Aditya Krishnan, Chemicals, Materials & Foods Research Analyst at Frost & Sullivan. "Regulatory changes in Asia-Pacific (APAC) and the Middle East, Africa, and South Asia (MEASA) and their strict enforcement in these regions during the next five years—concerning wastewater discharge and water recycling—are expected to create new opportunities for membrane manufacturers."
Krishnan added: "The rising demand for chemical-free solutions for water treatment in the food and beverage (F&B) and pharmaceutical sectors is expected to drive the market for water treatment membranes. Additionally, as hospitalization rates trend upward to serve the growing global population and increasing urbanization in APAC and MEASA, demand for IV and blood transfusion medical membranes will increase."
For Europe and North America, ageing populations and the increasing incidences of diabetes and blood pressure-related complications, respectively, will lead to an increase in demand for dialysis membranes.
To tap into the polymeric membranes market growth prospects, industry participants should:
- Invest in Digitalization of Water and Wastewater Treatment for Increased Water Reuse: Membrane manufacturers must promote the ease of membrane automation to drive adoption—an indirect driver for industrial process adoption.
- Invest in Ion-Exchange Membranes to Accelerate Green Hydrogen Growth Membranes: Manufacturers will benefit from investing in the development of proton exchange membranes and anion exchange membranes to accelerate green hydrogen production growth.
- Invest in Blood Transfusion and Apheresis Membranes to Accelerate Revenue Growth: The increasing demand for blood plasma to create plasma-derived biopharmaceutical products will drive the demand for apheresis and transfusion membranes. Manufacturers need to focus on creating membrane products for these applications to capture growing markets.
Water Scarcity and Need for Circular Economies Drive the Global Polymeric Membranes Market is the latest addition to Frost & Sullivan’s Chemicals, Materials & Foods research and analyses available through the Frost & Sullivan Leadership Council, which helps organizations identify a continuous flow of growth opportunities to succeed in an unpredictable future.
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Water Scarcity and Need for Circular Economies Drive the Global Polymeric Membranes Market
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