WELLESLEY, Mass. — A new BCCResearch report on reverse osmosis (RO) membranes and system components reveals the natural environment and its water resources are “inevitably becoming degraded” as a result of the increase in global population and the development of nations, according to a press release.

Reaching nearly $5.4 billion by the end of 2014, the RO market is estimated to reach $8.8 billion with a compound annual growth rate (CAGR) of 10.5 percent by 2019, stated the release.

The growth for the RO market will be principally driven by municipal water desalination applications, in addition to water reuse and process water treatment such as power plant, pharmaceutical and micro-electronics applications, reported the release.

The release continued that the Asia-Pacific region has overtaken the U.S. as the “global leader in expenditures for RO equipment” during the last five years.

The report titled, “Major Reverse Osmosis System Components for Water Treatment: The Global Market,” observes the global market for RO systems used in water treatment and identifies existing and potential global markets for RO system components with projections through 2019, noted the release.

“The falling costs of RO over the past two decades have made the process competitive with more conventional water supply options,” said Susan Hanft, BCC Research analyst. “Factors contributing to price decreases include greater competition among equipment suppliers, improved productivity, reduced costs for membrane modules, enhanced energy recovery devices that cut plant energy requirements and the global trend toward the privatization of water projects.”