The membranes market size is projected to grow from USD 5.4 billion in 2019 to USD 8.3 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 9.0% during the forecast period. The major drivers for the membranes market include a rapidly growing population, increasing industrialization and urbanization, detrimental effects of industrialization on water sources, and environment are propelling the global membranes market.
Membranes are used in water & wastewater treatment and industrial processing applications. Companies, such as DuPont (US), Toray (Japan), Hydranautics (US), Koch Separation Solutions (US), and Pentair (UK), operating in the membranes market have adopted both organic and inorganic growth strategies such as merger & acquisition, new product launch, partnership, agreement & collaboration, and investment & expansion to serve their customers efficiently and increase their market shares.
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DuPont (US) has a strong position in the membranes market. The company has a strong product portfolio of membranes, which find application in various industries such as food & beverage, pharmaceutical, metals & mining, textile, oil & gas, and others. It operates through its 43 manufacturing sites, mainly manufacturing products in safety & construction products. These sites are located in the Americas, APAC, the Middle East & Africa, and Europe and have extensive sales & distribution infrastructure, which helps in attaining economies of scale. It focuses on offering solutions to diverse applications in the water & wastewater industry. Hence it is continuously focused on expanding its product portfolio. For instance, recently, DuPont has undertaken acquisitions of Desalitech, inge GmbH, Memcor, and OxyMem Limited. These acquisitions have expanded the company’s portfolio in UF, Closed Circuit Reverse Osmosis, and MBR’s. The strategic acquisitions of all these players exhibit DuPont’s customer-centric portfolio, offering a wide range of water treatment technologies, and other specialized requirements.
Toray (Japan) is another major player operating in the market. The company has a robust global presence and offers membranes based on a wide range of technologies such as RO and UF. The company emphasizes on research & development in the field of membranes technology, with continuous new product launch to strengthen product portfolio, widening its product utility in various end-use industries, such as pharmaceutical, food & beverage, and oil & gas. Recently, Toray has launched two new products, a new pressurized PVDF Ultrafiltration membrane, and an ultra-low pressure, and low fouling RO membrane. This product launch has helped the company to offer innovative solutions offering energy-efficiency and high permeability.
Membranes Market by Material (Polymeric, Ceramic), Technology (RO, UF, MF, NF), Application (Water & Wastewater Treatment, Industrial Processing), Region (North America, APAC, Europe, MEA, South America) - Global Forecast to 2024
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