The global hollow fiber membranes market is expected to expand at the CAGR of 8.5% over forecast period. The global hollow fiber membranes market is valued over US$ 3 Bn till 2026.
The global hollow fiber membrane market is anticipated to witness potential growth opportunities driven by increasing demand of these membranes across industries such as chemical processing, water and wastewater treatment, and pharmaceutical industries. The opportunity for manufacturers of hollow fiber membranes is expected to rise in terms of revenue generation due to increasing innovations in these products and rising importance of microfiltration in industries. The increasing need for constant water and wastewater treatment in industry al as well as residential areas is ultimately propelling the hollow fiber membrane market growth.
Hollow fiber membranes market is segmented based on filtration type microfiltration, ultrafiltration, and reverse osmosis. Based on membrane material the market is segmented into polymer and ceramic. On the basis of end-user the market is segmented into water & waste water treatment, food & beverages, biotechnology, pharmaceuticals & chemicals.
Considering the demand for membrane materials, the polymers are maintaining its dominance as they are most widely used materials. Remarkable stability of the ceramic membranes is one of the differentiating property of these membranes but they need maintenance and pretreatment which is limiting the adoption of these membranes. The ceramic membranes isprimarily used in areas where high-pressure resistance is required for handling of solutions including acids and caustic solutions. On the other hand, the high permeable properties of polymers is boosting the adoption in industries. However, polymer is dominating the global hollow fiber membrane market by holding more than 80% of the market share.
The hollow fiber membrane market growth is expected to be foreseen due to changing nature of demand for membranes from biopharmaceutical industry. The biopharmaceutical industry is leveraging the hollow fiber membrane for their rising concerns about continuous manufacturing process.
The global hollow fiber membranes market is segmented on the basis of filtration type, membrane material, end-user, and region.
By Filtration Type
By Membrane Material
Considering the entrance of developed economies such as North America and Europe in maturity for the demand of hollow fiber membranes, these regions are expected to witness moderate growth rate as compared to other regions. The Asia Pacific region is foreseen to witness its dominance by holding potential market share in the next few years in global hollow fiber membrane market. The parameter such as rising need for wastewater treatment and need for satisfying the industrial standards is positively affecting the adoption of hollow fiber membranes and pushing the growth of the hollow fiber membranes market in the region. The issues such as freshwater scarcity in developing economies is boosting the hollow fiber membrane market. Also, rising awareness about the applications and importance of membrane systems across industries is expected to be another factor fueling the adoption of hollow fiber membrane market. Moreover, MEA region is expected to follow the APAC region in terms of grow opportunity with a significant CAGR over forecast period backed by rise in desalination plants primarily in potential economies such as Saudi Arabia and UAE.
Some of the prominent player involved in the global hollow fiber membranes market includes GE Healthcare (US), Koch Membranes, Synder Filtration, Polymem France, Danaher Corporation (US), DowDuPont, Asahi Kasei, Mitsubishi Chemicals, Toray, Repligen Corporation, Toyobo, Microdyn Nadir, Pentair, LG Chemicals, Spintek, Daicen, Kuraray, Evonik, and Lenntech. The players present are dominating the market by holding significant market share as these are early pioneers in the hollow fiber membranes market. For maintaining their current market presence and increasing revenue generation companies are adopting strategies including partnerships, product innovations, and regional expansions.