Water leads as membrane market to hit US$ 39.2 billion by 2019
The global membrane separation market is expected to grow at a compound annual growth rate (CAGR) of 10.8% from 2013 to reach US$ 39.2 billion in 2019 with water and wastewater leading the charge according to a recent report.Research company Persistence Market Research has predicted membrane separation market growth in the water and wastewater sector at a CAGR of 11.1% during 2013-19. Persistence's figures suggest a membrane market value in the water and wastewater sector of about US$ 14 billion in 2019.
Water and wastewater was the largest end user of membrane separation technologies in 2012 at 36% of the market according to the Persistence report "Global market study on membrane separation: water and wastewater segment to witness highest growth by 2019".
Persistence said the European membrane market - the world's largest in 2012 - was expected to reach USD 13.8 billion in 2019, growing at a CAGR of 9.6%.
According to Persistence, the global membrane separation market grew from US$ 19.0 billion in 2010 to US$ 21.2 billion in 2013. It concluded that regulation and increasing demand for drinking water is driving membrane market growth.
Persistence names the major global players also manufacturing all membrane product types as Evoqua Water Technologies, Pall Corporation, Koch Membrane Systems Inc., Merck Millipore, Degremont SA, Dow Chemical Company, GEA Filtration, 3M Company, Nitto Denko Corporation and Veolia Environnement.
Separately, a report by researcher, MarketResearchReports.Biz: Global And China Separating Membrane Industry Report, 2013 - 2016, forecasts growth in China's membrane separation market at "around 20%" to about RMB 25 billion (US$ 4 billion) in 2016. The Chinese market stood at RMB 12 billion (US$ 1.95 billion) in 2012 having grown at 20-30% for the previous ten years according to the researcher. It calculated the 2012 Chinese market figure to be 16.3% of the then global market.