Nanofiltration Membrane Market to Grow at 4.6% CAGR by 2030
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The Nanofiltration Membrane Market is expected to grow at the CAGR of 4.6% from 2020-2030, according to a new research report by Next Move Strategy Consulting.
Nanofiltration membrane is made up of thin polymer films which have a pore size of 1-10 nanometres. These membranes are used in water filtration and water treatment plants for the softening of water and removal of other organic matters from the water. These membranes remove synthetic ions from the water in addition to wide applications in food processing & diary industries.
According to the report, consistently expanding applications of Nanofiltration membrane in water filtration and water treatment plants owing to the growing water pollution are the major factor driving the market growth. The rapid development of food processing & dairy industry owing to the rapid increase in population base all around the globe. In addition, rapid industrialization & urbanization in the developing economies with the developing applications in different industries propel the market growth. The government has high standards and stringent guidelines to ensure the water purity for human use over the period of time is also likely to anticipate the market growth. On the other hand, technological advancements are likely to positively affect the market trend.
However, high cost of the installation, high sensitivity to chlorine as well as stringent regulatory policies is expected to impede the market growth. Moreover, aggressive research & development activities coupled with rising investments is anticipated to provide numerous opportunities to the market in the coming few years.
On the basis of product type, the Nanofiltration membrane market share is segmented into polymeric, inorganic, hybrid, and others. Polymeric segment dominates the global Nanofiltration market in terms of market share and will be the dominant during the forecasted period.
On the basis of application, the Nanofiltration membrane market is categorised into water & wastewater treatment, food & beverage, industrial biotechnology, pharmaceutical intermediates, agriculture, textile & others. water & wastewater treatment is the major application of the Nanofiltration and are expected to transform the Nanofiltration membrane market trend with major market share.
North America is likely to account for the highest market size & share of the Nanofiltration membrane market in the forecast period 2020–2030 owing to the huge demand for the Nanofiltration membrane, from different industries mainly from water treatment and food processing industries. Europe accounts for the second leading position in the Nanofiltration membrane market size. Asia Pacific is expected to be the fastest developing region in the Nanofiltration membrane market which is majorly driven by the presence of developing economies with rapid industrialization and urbanization together with wide application. Moreover, growing population base with rapid growth in the water and food demand is also expected to gain traction in near future and fuel the market growth.
According to the report, some the key players in the Nanofiltration membrane market are Koch Membrane Systems, Inc., Applied Membranes, Inc., Inopor, Alfa Laval, Danaher, DowDuPont Inc., Argonide Corporation, Nitto Denko Corporation, GEA Group Aktiengesellschaft, and Toray Industries, Inc.
Browse key industry insights from the report at https://www.nextmsc.com/report/Nanofiltration-membrane-market in detail along with the table of contents:
Key Insights from the Nanofiltration Membrane Market Report:
- Asia Pacific is the fastest growing Nanofiltration Membrane market owing to the rising demand for the Nanofiltration membrane from water and waste water industry, wide application, rapid industrialization and rapid urbanization.
- The water and waste water application dominates the segment and is expected to grow at significant CAGR to maintain the led in 2030.
- Some of the major players in the market are Koch Membrane Systems, Inc., Applied Membranes, Inc., Inopor, Alfa Laval, Danaher, DowDuPont Inc., Argonide Corporation, Nitto Denko Corporation, GEA Group Aktiengesellschaft, and Toray Industries, Inc.
The report Nanofiltration Membrane market – segmented by product type, application and geography
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