A new report by Transparency Market Research (TMR) states that the global hollow fiber ceramic membrane market is experiencing a remarkable rise in its valuation. This growth can be attributed at the rising usage of hollow fiber membranes by municipalities and the sharp decline in the cost and installation expenses of these membranes. According to the report, the market, which stood at US$ 99.0 mn in 2016, is estimated to double by 2025 and reach US$200 bn. The CAGR of this market is pegged at more than 11% between 2017 and 2025.
The worldwide hollow fiber ceramic membrane market demonstrates a
competitive business landscape. Companies are relying upon product innovation
to gain more market share. For instance, Nanostone Water Inc. came up with a
high surface area ceramic ultrafiltration membrane for industrial water and
wastewater treatment in 2017. Players are also taking up inorganic expansion
strategies, especially constructing new production facilities. Technology Inc.,
CoorsTek Inc., MICRODYN-NADIR GmbH, Nanostone Water Inc., TAMI Industries.,
Ceraflo Pte Ltd., Qua Water Technologies Private Ltd., and i2M LLC are some of
the key manufacturers of hollow fiber ceramic membrane across the world.
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Chemical Processing and Pharma Industries to Create
Growth Opportunities
With the significant rise in the global population, the need for clean
and potable water has increased, augmenting the requirement for wastewater
treatment.There are wastewater treatment units at every
municipality, which collect wastewater through sewers and treat it for
reutilization. Since the quality of wastewater treated through hollow fiber
ceramic membranes is good and fit for reusing, the treated water can directly
be supplied to residents or dumped in seas without polluting them. These
benefits of hollow fiber ceramic membranes have augmented their usage in
wastewater treatment, resulting in a tremendous growth in the global hollow
fiber ceramic membrane market.
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Going forward, the worldwide hollow fiber ceramic membrane market is
likely to witness a substantial rise in the near future. The increasing demand
for hollow fiber ceramic membranes in chemical processing and the
pharmaceutical industries is creating new growth opportunities for this market.
Manufacturers will also gain substantially from the surging uptake of products
with these membranes in municipality offices for wastewater treatment over the
next few years. Apart from this, the availability of cost-efficient products
and reduced installation cost are expected to add to the growth of the global
hollow fiber ceramic membrane market in the years to come.
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Asia Pacific to Retain its Position
In terms of the region, the global hollow fiber ceramic membrane market
is categorized into Europe, the Middle East and Africa, Asia Pacific, Latin
America, and North America. Asia Pacific has been the dominant market for
hollow fiber ceramic membrane across the world over the last few years. The
high population growth has pushed the need for clean water, creating a demand
for wastewater treatment in this region. The regional market is anticipated to
remain at the top of the game even in the coming years. The governments are
implementing new standards for wastewater treatment, which may translate in
increased usage of products with hollow fiber ceramic membranes. The augmenting
scarcity of fresh water and increasing awareness among consumers about the
efficacy of these membranes in wastewater treatment are expected to boost the
Asia Pacific hollow fiber ceramic membrane market in the near future.
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In coming
years, as the debate on the potential impact of the chemical manufacturing
across industries on the ecology gets fiercer, new monitoring technologies will
emerge. Latest compliance regulations will expand the scope of green
chemistries for businesses in the downstream value chain. Further,
manufacturers in the market will increasingly leverage digital channels to
reach high-value customers. Many will use them to avoid disruption such as by
pandemics.
An assortment of analytics technologies will help
in augmenting the commercial productivity. However, until now, the pace of
adoption of digital technologies in the overall chemicals industry has been
relatively slow. It thus remains to be seen how far the players in the market
will be able to unlock long-term productivity benefits of AI-driven management
of various business functions, particularly research and development and production.
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