Global nanofiltration membrane market to reach $445.1M by 2019, study finds
According to a new report published by BCC Research, the global market for nanofiltration membranes is expected to grow to $445.1 million by 2019, with a five-year compound annual growth rate (CAGR) of 15.6 percent.
WELLESLEY, MA, Aug. 20, 2014 -- According to a new report, GLOBAL MARKETS AND TECHNOLOGIES FOR NANOFILTRATION, published by BCC Research, the global market for nanofiltration membranes is expected to grow to $445.1 million by 2019, with a five-year compound annual growth rate (CAGR) of 15.6 percent. Further, the water and wastewater treatment segment dominates the overall market with a 74.6-percent market share.
Nanofiltration is a pressure-driven, membrane-based separation technology utilizing membranes that are capable of retaining nanoscale particles and molecules. With three main types of nanofiltration membranes -- polymeric, inorganic (e.g., ceramic and carbon) and hybrid (or organic/inorganic) -- this technology is finding increasing application across a broad range of industries, including water and wastewater treatment, food and beverage, chemical and petrochemical, pharmaceutical and biomedical, agriculture, and solid waste management.
Membranes for water and wastewater treatment represent by far the largest share of the market. This segment alone is expected to reach $338 million by 2019 and register a healthy CAGR of 16.1 percent. Revenues within this category are primarily driven by sales of nanofiltration membranes for water softening, desalination and wastewater treatment.
Although generating lower revenues, the pharmaceutical and biomedical category is the fastest-moving segment in the overall market and is expected to grow to $22.7 million by 2019, moving at a significant 19.5-percent CAGR. In this sector, nanofiltration is used mainly for plasma purification; fractionation of proteins, virus removal from plasma products, preparation of desalted and concentrated antibiotics, immobilization of cells and enzymes in biosynthesis, and filtration of DNA, RNA and endotoxins.
"Membrane-based separation technologies have been receiving increasing interest in recent years," said BCC Research nanotechnology analyst Margareth Gagliardi. "Not only do they represent more cost-effective, low-maintenance, easy-to-operate and energy-saving processes compared to other popular separation methods, they're also creating new opportunities in the separation and recycling of chemical compounds that could not be previously processed by other means."
The increased market penetration of these products is attributed to a number of factors, including a rising demand for potable water and reduced freshwater sources, environmental restrictions on industrial and municipal wastewater discharges, and lower operating costs compared to, for example, reverse osmosis (RO).
About BBC Research
BCC Research is a market research company covering changes driven by science and technology. Its market research coverage provides detailed market size forecasts that incorporate the major economic, scientific, and technological developments in industrial, pharmaceutical, and high technology organizations. Industry analysis and market forecasts for advanced materials, high-tech systems and components, nanotechnology and novel processing methods are at the forefront of the company's expertise. The information provided in this release was provided by BCC Research, located at 49 Walnut Park, Building 2, Wellesley, MA 02481. For more information, call 1-866-285-7215, email email@example.com or visit www.bccresearch.com.