Frost & Sullivan's recent analysis of the global polymeric membranes market finds that the drive to achieve a circular economy and concerns about water scarcity are encouraging industrial and municipal stakeholders to adopt membrane-based systems for water and wastewater treatment. This creates a surge in demand for membranes, such as water treatment membranes, wastewater treatment membranes, medical membranes, and industrial membranes across sectors. As a result, the global polymeric membranes market is estimated to garner $9.01 billion by 2027 from $6.76 billion in 2020, an uptick at a compound annual growth rate of 4.2%.
"Global plans for new desalination plants and municipal wastewater treatment units during the next 10 years present lucrative growth prospects for membrane manufacturers," said Aditya Krishnan, chemicals, materials & foods research analyst at Frost & Sullivan. "Regulatory changes in Asia-Pacific (APAC) and the Middle East, Africa, and South Asia (MEASA) and their strict enforcement in these regions during the next five years — concerning wastewater discharge and water recycling — are expected to create new opportunities for membrane manufacturers."
Krishnan added: "The rising demand for chemical-free solutions for water treatment in the food and beverage and pharmaceutical sectors is expected to drive the market for water treatment membranes. Additionally, as hospitalization rates trend upward to serve the growing global population and increasing urbanization in APAC and MEASA, demand for IV and blood transfusion medical membranes will increase."
To tap into the polymeric membranes market growth prospects, the report advises that industry participants:
Invest in digitalization of water and wastewater treatment for increased water reuse. Membrane manufacturers must promote the ease of membrane automation to drive adoption—an indirect driver for industrial process adoption.
Invest in ion-exchange membranes to accelerate green hydrogen growth membranes. Manufacturers will benefit from investing in the development of proton exchange membranes and anion exchange membranes to accelerate green hydrogen production growth.
Water Scarcity and Need for Circular Economies Drive the Global Polymeric Membranes Market is the latest addition to Frost & Sullivan's Chemicals, Materials & Foods research and analyses available through the Frost & Sullivan Leadership Council, which helps organizations identify a continuous flow of growth opportunities to succeed in an unpredictable future.
For further information on this analysis, go to http://frost.ly/5wl
