Membrane Technology Market Projected to Witness Vigorous Expansion of US$ 10.8 Bn by 2019
Verfasser: ShashiiPawar on Tuesday, 5 December 2017Transparency Market Research (TMR) has recently published a market study on the global membrane technology market, projecting the market to exhibit a CAGR of 9.10% during the period from 2014 to 2019 and reach a market value of US$10.8 bn by the end of the forecast period.The report, titled “Membrane Technology Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2019”, states that the worldwide membrane technology market stood at US$6.4 bn in 2013.
The global rise in the pharmaceutical industry gives a significant boost to the worldwide market for membrane technology. The increasing demand for single-use disposables in biopharmaceuticals also triggers the demand for membrane technology in recent times. However, membrane fouling, together with high investments as well as soaring operation cost, has adversely affected this market at large.Strict regulations pertaining to environmental safety, however, is likely to drive the market’s growth over the forecast period, the report states.The market report analyzes the global membrane technology market on the basis of technology and end users. Based on technology, it is classified into the markets for ultrafiltration, microfiltration, nanofiltration, and chromatography. The nanofiltration technology market is reporting the fastest growth in the global market for membrane technology at present.