Membrane Microfiltration Market to Witness Widespread Expansion During 2018–2028 According to New Research ReportApril 9, 2021
As per the latest research study by TMR, the membrane microfiltration market is anticipated to witness an impressive growth at a CAGR of over 7.5% through 2028. As end-use industries are willing to invest in cost-effective solutions for sustainable manufacturing, worldwide demand for membrane microfiltration is estimated to exceed US$ 8 Bn by the end of 2028, registering a significant upswing from the sales in 2018.
This growth can be attributed to growing popularity of microfiltration as a viable alternative of heat treatment for bacteria reduction and shelf-life enhancement of dairy products. According to the TMR study, rising demand from applications of milk processing remains a key trend shaping growth of membrane microfiltration market. Growing adoption of membrane microfiltration technique for cross flow filtration purposes in water plants is another crucial trend influencing growth of membrane microfiltration market, unveils the TMR report.
Manufacturers operating in the membrane microfiltration market are developing robust and durable microfiltration systems incorporating large filter cartridges, which in turn is resulting in optimal space utilization and reduced maintenance expenses.
“A preference for continuous fermentation over batch processing processes is intensifying, with industrial ecosystems proactively embracing membrane microfiltration techniques. Such particulars are likely to have a positive impact on the growth of membrane microfiltration market over the forecast timeperiod”, says the TMR report.
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Ubiquitous Utilization of Large Molecule Biopharmaceuticals- A Key Growth Enabler of Membrane Microfiltration Market
As per the TMR research study, membrane microfiltration is finding extensive application in biofuel as well as bio refineries, on account of its ability to lower energy costs and reduce bio wastes. Use of membrane microfiltration is significantly taking off in case of biodiesel processes wherein this technology is used for reusing water, notably in areas having water scarcity.
Membrane microfiltration, as a viable technology, finds extensive adoption in the food & beverage space for bifurcation and purification of food & beverage products. This, in turn, remains a key growth driver of the membrane microfiltration market. According to the TMR analysis, water treatment plants remains one of the chief application areas of membrane microfiltration market, as this technique is employed for elimination of unwanted particles from the water before it undergoes treatment. Surging demand for quality potable water remains a key pacesetter of growth of membrane microfiltration market.
Growing number of industrial applications making use of membrane microfiltration technique are predominantly responsible for growth of the global membrane microfiltration market. Filtration remains indispensable in case of biopharmaceuticals production and membrane microfiltration continues to be useful in removal of cellular debris, creating sustained opportunities for the stakeholders of membrane microfiltration market. With skyrocketing adoption rate of large-molecule biopharmaceuticals by virtue of their therapeutic properties, adoption of membrane microfiltration technique in biopharmaceutical production is estimated to take off in the future.
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Membrane Microfiltration Market- TMR Recommendations
As newer and broader applications of the membrane microfiltration technology come to the fore, TMR extrapolates an optimistic outlook for the key participants of membrane microfiltration market over the forecast period. Apart from food & beverages and water treatment being two among the key application areas in the membrane microfiltration market, a mounting number of new applications are also emerging for the market players to capitalize on with advanced offerings.
China is likely to witness fast-paced growth as compared to other regional markets for membrane microfiltration, with industrialization in China approaching its peak. The companies operating in the membrane microfiltration market can enhance their market share and sustenance by establishing potent supply chains across the rapidly-growing regions.