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Hollow Fiber Membrane Market Size Worth Around US$ 3 billion by 2026: Acumen Research and Consulting

/EIN News/ -- Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled “Hollow Fiber Membranes Market (By Filtration Type: Microfiltration, Ultrafiltration, Reverse Osmosis; By Membrane Material: Polymer, Ceramic; By End-User: Water & Waste Water Treatment, Food & Beverages, Biotechnology, Pharmaceuticals & Chemicals) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2018 - 2026”.

LOS ANGELES, Feb. 27, 2019 (GLOBE NEWSWIRE) -- The hollow fiber membrane market is estimated to register significant growth rate of 8.5% CAGR over upcoming years. The global hollow fiber membrane market is estimated to be valued over US$ 3 billion by the end of year 2026.

Increasing need for constant water and wastewater treatment and increasing government regulations is foreseen to drive the hollow fiber membrane market growth. The emerging economies such as India &China are enforcing regulations for waste water recycling process and such factor is expected to drive the market growth.

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The global hollow fiber membranes market is segmented on the basis of membrane material, end-user, filtration type, and region. By membrane 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. By filtration type the market is segmented into microfiltration, ultrafiltration, and reverse osmosis. On the basis of region the market is segmented intoEurope, Latin America, North America, Middle East & Africa, and Asia Pacific.

The increasing demand of these membranes across industries such as chemical processing, water and wastewater treatment, and pharmaceutical industries is one of the prime factor boosting of the growth of global hollow fiber membrane market. The manufacturers of hollow fiber membranes is expected to have potential opportunity for strengthening their position in market by performing innovations in these products. The adoption of hollow fiber membrane is expected to increase due to rising importance of microfiltration in industries.

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The adoption of polymers as a membrane material in industries is increasing significantly due to its high permeable properties. The polymer is dominating the global hollow fiber membrane market by holding more than 80% of the market share. The hollow membranes are constructed using the two types of materials including polymers and ceramics. The polymer group involves PTFE, polyimides, cellulose triacetate, polyacrylonitrile, polyether sulfone (PES), PVDF, and polyamides. Considering the demand for membrane materials, the polymers are maintaining its dominance as they are most widely used materials. The ceramic membranes are known for their remarkable stability and but they require maintenance frequently and pretreatment is also performed before using it. The applications of ceramic membranes present mainly in the areas involving solutions such as acids and caustic solutions as they require high-pressure resistance. 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.

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 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. The issues such as freshwater scarcity in developing economies is boosting the hollow fiber membrane market.

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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.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.Also, rising need for wastewater treatment and need for satisfying the industrial standards is positively boosting the adoption of hollow fiber membranes and pushing the growth of the hollow fiber membranes market.

Key players catering in the global hollow fiber membranes market involves 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 manufacturers of hollow fiber membranes are early pioneers in the hollow fiber membranes and they are leveraging their current presence in this market by adopting strategies including partnerships, product innovations, and regional expansions.

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