Hollow fiber membranes have gained the attention owing to the consistent demand of clean water by various end-use industries. Hollow fiber membranes offer various advantages including high productivity per unit volume, self-supportive, high recovery and others. Thus, the global Hollow fiber membrane market is expected to foray ahead with a higher single digit CAGR over the forecast period of 2019-2029. Innovative product offerings by the key players has been identified as a recent trend in the market. For instance, Toyobo Japan has developed reverse osmosis based hollow fiber membrane that has been equipped in a number of desalination plants worldwide. In addition, Polymem along with Arkema has developed an ultrafiltration PVDF membrane that is suitable for a range of applications including waste water treatment and pretreatment in seawater desalination. Moreover, consistent demand of clean water across various industries such as food & beverages, pharmaceuticals etc. along with technological advancements are some of the factors providing traction to the market growth over the forecast period.
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High demand of Hollow fiber membrane from the end-use industries is poised to drive market growth over the forecast period:
High demand of Hollow fiber membrane specifically from food & beverages and pharmaceutical industries is leveraging huge adoption opportunities for the market. Continuous increase in population and increasing agriculture output tend to drive the global food consumption which in turn calls for hollow fiber membrane. Similarly, high research and development investments in pharmaceutical industry along with increase in number of diseases tend to drive the pharmaceutical industry. As per International Federation of Pharmaceutical Manufacturers & Associations, the pharmaceutical industry spend around US$ 149.8 Billion in 2015 for research. Furthermore, rising biotechnology and chemical industries also tend to leverage wide adoption avenues for Hollow fiber membrane.
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Segmentation analysis of Hollow fiber membrane Market:
The global Hollow fiber membrane market is bifurcated into four major segments that are material, filtration type, end-use industry and region.
On the basis of material, the global Hollow fiber membrane market is divided into:
On the basis of filtration type, the global Hollow fiber membrane market is divided into:
- Reverse Osmosis
On the basis of end-use industry, the global Hollow fiber membrane market is divided into:
- Water Treatment
- Food & Beverages
Based on region, the global Hollow fiber membrane market is segmented as:
- North America
- Latin America
- East Asia
- South Asia & Oceania
- Middle East & Africa (MEA)
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Hollow fiber membrane Market: Regional Outlook:
The global Hollow fiber membrane market is segmented into six regions including North America, Latin America, Europe, East Asia, South Asia & Oceania and MEA. Among the above-mentioned regions, East Asia and South Asia & Oceania together are expected to contribute majority of the market share in 2018 in terms of volume owing to high adoption of Hollow fiber membrane water treatment and food & beverage industries. Increasing population and uptrend in biotechnology sector are also creating wide opportunities for the Hollow fiber membrane in the East Asia region. India is one of the key emerging markets for Hollow fiber membrane in the South Asia & Oceania region. Moreover, Europe is expected to follow East Asia in terms of volume in 2018. North America is expected to contribute substantial market share in the market owing to number of waste water treatment plants, well-established pharmaceuticals & biotechnology industries and others. Furthermore, Middle East & Africa along with Latin America are expected to contribute nominal shares in the market in terms of volume in 2018.
Key players of Hollow fiber membrane Market:
Prominent players in the global Hollow fiber membrane market are Polymem France, Toray Industries, Asahi Kasei, Mitsubishi Chemicals, Koch Membranes, LG Chemicals and others. The Hollow fiber membrane market consists of well-diversified global and regional players with global vendors ruling the market.
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