Desalination tops user growth in membrane chemicals
The global market for membrane chemicals was worth US$ 1,013.8 million in 2013 and is expected to show a compound annual growth rate (CAGR) of 8.1% to 2020 according to a report by market researcher, Future Market Insights. And desalination was expected to witness the highest end use sector growth of 11.4% between 2014 and 2020.Dynamic growth in industrial output in emerging economies coupled with increased focus on wastewater recycling was highlighted by the researcher as an accelerator of demand for membrane chemicals. But patents and regulatory hurdles would place a drag on growth it said in the report: Membrane Treatment Chemical; Wastewater Treatment to gain traction - Global Market Assessment and Forecast to 2020.
According to the report, increase in demand for process water in end-use sectors including municipal, power generation, food and beverage, desalination, paper and pulp, chemicals, and pharmaceuticals was a key growth drivers for the global membrane chemicals market.
Membrane chemicals market is segmented in the report on the basis of product, region, and end-user.
North America is forecast to witness a surge in the global membrane chemicals due to rising demands from end-use industries such as power, desalination, municipal, and chemical. But Asia-Pacific was expected to surpass North America in terms of value and volume share by 2020, with a CAGR of 10.1% between 2014 and 2020. The surge would be fuelled by coal reserves in Asia-Pacific, region which offers a significant scope for membrane chemicals in power sector.
Middle East and Eastern Europe were anticipated to display a vigorous demand for membrane chemicals in the near future the report said.
Future Market Insights said the wastewater sector was set to be the largest segment for the global membrane chemicals market through 2020.
The dominant application type was the scale inhibitor market segment and was projected in the report to continue its dominance in terms of value to 2020.
Biocides were expected to double in revenue by 2020, with a CAGR of 12.2% between 2014 and 2020.