The worldwide hollow fiber membranes market is estimated to reach US$ 3 billion by the end of year 2026, this industry is expected to grow with 8.5% CAGR over the forecast period. Stringent regulations associated with the waste water recycling process in emerging economies such as India &China is expected to drive the market growth.
The global hollow fiber membraness market is segmented on the basis of filtration type, membranes material, end-user, and region. By filtration type the market is segmented into microfiltration, ultrafiltration, and reverse osmosis. By membranes material the market is segmented into polymer, ceramic.On the basis of end-users the market is segmented into the water & waste water treatment, food & beverages, biotechnology, pharmaceuticals & chemicals. On the basis of region the market is segmented into Europe, Latin America, North America, Middle East & Africa, and Asia Pacific.
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Rising adoption of hollow fiber membraness across industries
The hollow membraness are constructed using the two types of materials including polymers and ceramics. The polymer group involves PTFE, polyether sulfone (PES), PVDF, polyimides, cellulose triacetate, polyacrylonitrile, and polyamides. Considering the demand for membranes materials, the polymers are maintaining its dominance as they are most widely used materials. The ceramic membraness are known for their remarkable stability and but they require maintenance frequently and pretreatment is also performed before using it. The applications of ceramic membraness is present mainly in the areas involving solutions such as acids and caustic solutions as they require high-pressure resistance. On the other hand, the adoption of polymers in industries is increasing significantly due to it’s high permeable properties. However, polymer is dominating the global hollow fiber membranes market by holding more than 80% of the market share.
Constant product innovations is propelling the market growth
The prominent players present in hollow fiber membraness market are increasing investing in the research and development process for improving the performance capabilities of hollow fiber membraness. Through innovations, the manufacturers are planning to increase their revenue generation by expanding the boundaries for applications of hollow fiber membraness in industrial areas.
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The parameters such as availability favorable environmental and political conditions, cheap workforce, and raw materials is increasing penetration of manufacturing industries in APAC region and it is expected to drive the APAC market in the upcoming years. Also, the Asia Pacific region is foreseen to witness its dominance by holding potential market share in the next few years in global hollow fiber membranes market. The parameter such as rising need for wastewater treatment and need for satisfying the industrial standards is positively boosting the adoption of hollow fiber membraness and pushing the growth of the hollow fiber membraness market in the region. The issues such as freshwater scarcity in developing economies is boosting the hollow fiber membranes market. Also, rising awareness about the applications and importance of membranes systems across industries is expected to be another factor fueling the adoption of hollow fiber membranes market. The 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.
Key players catering in the global hollow fiber membraness market involves GE Healthcare (US), Koch Membraness, 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 manufacturers of hollow fiber membraness are early pioneers in the hollow fiber membraness and they are leveraging their current presence in this market by adopting strategies including partnerships, product innovations, and regional expansions.
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