The global
membranes market is anticipated to be affected by their increasing usage in pharmaceutical and biomedical industry . They help in lowering the concentration of effluent stream , as well as in recovering significant substrate or intermediate . This information is given by Fortune Business Insights™ in a recently published report , titled , “ Membranes Market Size , Share & Industry Analysis , By Technology ( RO / FO , UF , NF , MF , and Others ), By Applications ( Water & wastewater treatment , Food & beverage , Gas separation and Others ) and Regional Forecast , 2019-2027 .” The report further mentions that the membranes market size was USD 6,899.65 million in 2019 and is projected to reach USD 10,021.47 million by 2027 , thereby exhibiting a CAGR of 5.74 % during the forecast period .
COVID-19 Impact Analysis :
The recent coronavirus outbreak has had an adverse impact on majority of the businesses across the world . Accounting to the strict measures taken by governments of major countries , it has become increasingly difficult to carry out business operations . The report will include the impact of the Covid-19 pandemic on the global . It will also include the strategies that major companies are adopting to overcome the downfalls during this pandemic .
We are making continuous efforts to help your business sustain and grow during COVID-19 pandemics . Based on our experience and expertise , we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future .
Drivers & Restraints-
Rising Environmental Concerns to Accelerate Growth
Rapid industrialization and urbanization , especially in the developing countries is resulting in water pollution . Therefore , the strain on water resources is surging . The governments and regulatory bodies of several countries are implementing stringent norms and laws regarding industry discharge to control water pollution . The increasing environmental concerns have thus , compelled large portion of the industries to adopt membrane-based technology for curbing the level and severity of pollutants in their discharge streams . They are presently trying to comply with the regulations . Membranes play a vital role in providing zero liquid discharge ( ZLD ). It is helping the industries in lowering the environmental impact . However , fouled membrane can have harmful effects on its operations . This factor may obstruct the membranes market growth during the forthcoming years .
Segment-
Water & Wastewater Treatment Segment to Grow Rapidly Backed by Evolution of Technology
Based on application , the market is divided into gas separation , food & beverage , water & wastewater treatment , and others . Amongst these , the water & wastewater treatment segment held 45.9 % membranes market share in 2019 . Membranes were mainly developed owing to the sole purpose of water & wastewater treatment . Later , as the technology evolved , they found their application in a wide range of industries consisting of biomedical , pharmaceutical , and food & beverage . The emergence of membrane purification technologies has proved to be promising by meeting the urgent need for portable water .
Regional Analysis-
Various Planned Desalination Projects in India & China to Favor Growth in Asia Pacific
Geographically , Asia Pacific procured USD 2,382.47 million in 2019 in terms of revenue . This growth is attributable to the major contributions of countries , such as Australia , India , Japan , and China . Japan is considered to be one of the largest producers of membranes globally . Several planned desalination