Membranes Market worth $10.1 billion by 2027

(IT-NEWSWIRE.COM, December 22, 2022 ) The global "Membranes Market size is projected to reach USD 10.1 billion by 2027 from USD 6.4 billion in 2022, at a CAGR of 9.7% during the forecast period. Increasing awareness regarding water and wastewater treatment is driving the global Membranes Market. Furthermore, stringent wastewater regulations and rising demand from end use industries such as food & beverage, pharmaceuticals, chemical & petrochemical, oil & gas, and power is driving the growth of membranes market.

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Based on region, Asia Pacific to account for the highest market share in the membranes market during the forecast period

Asia Pacific is projected to be the largest and fastest-growing market for membranes between 2022 and 2027. Presence of emerging economies including China and India, growing population and urbanization, and increasing industrialization are some of the factors driving the membranes market in Asia Pacific. Further, stringent government regulations and increasing awareness towards wastewater treatment is driving the demand of membranes.

The key players in the membranes market include DuPont (US), Suez Water Technologies & Solutions (France), Mann+Hummel (Germany), Hydranautics (US), LG Chem Ltd. (South Korea), Pentair (UK), Koch Separation Solutions (US), Toray Industries Inc. (Japan), Pall Corporation (US), Asahi Kasei Corporation (Japan), and 3M (US).

DuPont is one of the leading players in the membranes market. The company provides different types of membranes including RO, NF, and UF membranes. DuPont emphasizes on the development of new and innovative products in the water treatment sector. It operates through its 120 facilities globally. The company offers membranes through its water & protection business. DuPont has 33 sites located across North America, Asia Pacific, Europe, and the Middle East & Africa regions, for its water & protection business.

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Browse And In-Depth TOC On "Membranes Market”

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The company offers its products to multiple industries including municipal, food & beverage, power generation, oil & gas, pharmaceutical, and microelectronics. The company is focusing on further strengthening its position in the membranes market, by adopting growth strategies such as strategic partnerships, new product developments, and acquisitions. For instance, in 2020, DuPont completed the acquisition of ultrafiltration business from BASF and Evoqua Water Technologies. This acquisition has helped the company to strengthen its footprint in the global membranes market.

Toray Industries, Inc. is another leading player in the membranes market. The company offers different membrane products including RO & NF membranes, MF & UF membranes, and membrane bioreactors, through its environment & engineering business segment. It has a worldwide presence with operations in more than 29 countries. The company has seven manufacturing facilities located across Japan, the US, China, and South Korea, for its water business.

The company is enhancing its footprint by adopting both the organic and inorganic growth strategies including new product launch and partnerships. For instance, in 2019, Toray Industries, Inc. introduced new super low energy SWRO membrane elements designed to reduce the power consumption of seawater desalination applications.

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Membranes Market worth $10.1 billion by 2027