Spiral Membrane Market worth $8.20 billion by 2023

(IT-NEWSWIRE.COM, August 17, 2018 ) The report "Spiral Membrane Market by Polymer Type (Polyamide, PS & PES), Technology (RO, NF, UF, and MF), End-use Industry (Water & Wastewater Treatment, Food & Beverage, Pharmaceutical & Biotechnology, Oil & Gas), and Region - Global Forecast to 2023" The spiral membrane market is projected to grow from USD 5.10 billion in 2018 to USD 8.20 billion by 2023, at a CAGR of 10.0% from 2018 to 2023. Increasing awareness of water & wastewater treatment and requirement of selective separation for meeting water quality standards are the major drivers for the spiral membrane market. In addition, stringent environmental regulations in many countries are also expected to drive the spiral membrane market during the forecast period.

Browse 72 market data Tables and 35 Figures spread through 123 Pages and in-depth TOC on "Spiral Membrane Market by Polymer Type (Polyamide, PS & PES), Technology (RO, NF, UF, and MF), End-use Industry (Water & Wastewater Treatment, Food & Beverage, Pharmaceutical & Biotechnology, Oil & Gas), and Region - Global Forecast to 2023"

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Polyamide segment to lead spiral membrane market during forecast period

Based on type, the polyamide segment is projected to lead the spiral membrane market during the forecast period. Polyamide type is estimated to have accounted for the largest market share due to its easy availability and cost-efficiency. In addition, these membranes possess lower pressure requirements and more flexible operating conditions which makes them suitable for municipal and industrial effluent treatment application.

Water & wastewater treatment segment projected to grow at highest CAGR during forecast period

Based on end-use industry, the water & wastewater treatment segment is projected to grow at the highest CAGR from 2018 to 2023. Spiral membranes are widely used in various industries such as food & beverage, pharmaceutical, chemical & petrochemical, and textile industries. The technology is used for water treatment and manufacturing processes. In addition to this, the presence of stringent regulations in various countries for effluent discharge is also a major factor for the large size of this segment. The R&D departments of manufacturing companies are carrying out research to widen the application areas, which is expected to drive the spiral membrane market during the forecast period.

APAC spiral membrane market projected to grow at highest CAGR from 2018 to 2023

The spiral membrane market in the APAC region possesses immense potential for growth. Increasing awareness of water and wastewater treatment and rising scarcity of fresh water are expected to fuel the demand for ultrafiltration during the forecast period. China, India, and Japan are some of the key countries in the region contributing significantly towards the growth of the spiral membrane market in the APAC region.

Some of the key players in the spiral membrane market are DowDuPont Inc. (US), Toray Industries, Inc. (US), Hydranautics (US), LG Water Solutions (South Korea), SUEZ Water Technologies and Solutions (France), Merck Group (Germany), Pentair plc (US), Koch Membrane Systems (US), Pall Corporation (US), and Lanxess (Germany), among others. New product and technology development was the major growth strategy adopted by the market players between 2015 and 2018 to enhance their regional footprint and meet the growing demand for spiral membrane in the emerging economies.

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Reverse Osmosis segment to lead spiral membrane market during forecast period

Based on type, the reverse osmosis segment is projected to lead the spiral membrane market during the forecast period. RO is the leading technology for spiral membrane because of its cost-effectiveness. It is primarily used for desalination of seawater and brackish water. NF is the fastest-growing technology for spiral membrane because of its increasing use in water treatment applications.

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Spiral Membrane Market worth $8.20 billion by 2023