WELLESLEY, Mass. — The Global Markets and Technologies for Nanofiltration report, conducted by BCC Research, found that the international market for nanofiltration membranes is anticipated to grow to $445.1 million by 2019, with a five-year compound annual growth rate (CAGR) of 15.6 percent, according to a press release.
Nanofiltration is a pressure-driven, membrane-based separation technology utilizing membranes capable of retaining nanoscale particles and molecules, and is comprised of three main types: Polymeric, inorganic and hybrid forms, stated the release.
A broad range of industries, including water and wastewater treatment, chemical and petrochemical, food and beverage, metalworking, pharmaceutical and biomedical, textiles, agriculture and solid waste management, are increasing application of nanofiltration technology, reported the release.
Water and wastewater treatment membranes represent the largest share of the market, with revenues primarily driven by sales for water softening, desalination and wastewater treatment, and this sector alone is projected to reach $338 million in 2019 with a CAGR of 16.1 percent, continued the release.
“Not only do [membrane-based separation technologies] represent more cost-effective, low maintenance, easy-to-operate and energy saving processes compared to other popular separation methods,” said BCC Research Nanotechnology Analyst Margareth Gagliardi. “They're also creating new opportunities in the separation and recycling of chemical compounds that could not be previously processed by other means.”
You can find the entire release here.