Hollow Fiber Ceramic Membranes Market to Record a Valuation of US$ 415.0 Million by 2033 with Increasing Demand for Pure Water | Future Market Insights, Inc.
Future Market Insights • 18 September 2023 - 16:01
SubjectMarket Research Reports
Water Purification Solutions drive Significant Demand for Hollow Fiber Ceramic Membranes
NEWARK, Del., Sept. 18, 2023 /PRNewswire/ -- By 2023, the global hollow fiber ceramic membranes market is likely to be worth US$ 166.6 million. In the study period from 2023 to 2033, a CAGR of 9.6% is predicted.
By 2033, the hollow fiber ceramic membranes industry is anticipated to reach a valuation of around US$ 415.0 million. A total financial potential of US$ 248.4 million will be generated during the assessment period.
One leading element driving demand for hollow fiber ceramic membranes is the ongoing global expansion of the biopharmaceutical industry. Demand is also anticipated to be boosted by rising single-use technology adoption and the necessity for continuous manufacturing.
It is predicted that the world's population growth will cause freshwater supplies to become scarce. Demand is anticipated to increase because of hollow fiber ceramic membranes' capacity to remove impurities, diseases, and pollutants from water sources.
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It is also anticipated that hollow fiber ceramic membranes will be used in the global pharmaceutical, food and beverage, and electronics industries. Industries that use high-quality water for manufacturing might require these membranes as they can provide a greater level of filtration efficiency. Demand might also be influenced by their capacity to guarantee that the treated water adheres to stringent government standards.
Hollow fiber ceramic membranes might be used in a few industrial processes, including separation, nanofiltration, and microfiltration. They are expected to be used in an assortment of production processes due to their strong chemical and heat resistance.
Hollow fiber ceramic membranes might consume less energy than other filtration techniques such as reverse osmosis. It is believed that this would make them the best option for uses such as the desalination and treatment of brackish water. Demand is expected to be supported by industries looking for energy-efficient and affordable solutions.
Key Takeaways from Hollow Fiber Ceramic Membranes Market Report
- The global hollow fiber ceramic membranes industry expanded at an astonishing CAGR of 12.0% in the historical period.
- The United States hollow fiber ceramic membranes industry is set to reach a valuation of US$ 75.5 million by 2033.
- China is projected to capture a valuation of US$ 67.2 million in the hollow fiber ceramic membranes industry by 2033.
- In terms of end-use, the biotechnology segment is expected to witness a CAGR of 9.2% in the forecast period from 2023 to 2033.
- Based on application, the ultrafiltration segment is projected to showcase a moderate CAGR of 9.4% in the review period.
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"Hollow fiber ceramic membranes are anticipated to have a long lifespan and high level of durability, leading to a low replacement rate. They are expected to be greatly preferred in industries that strongly emphasize sustainability due to their reduced chemical use and low energy use." – Says a lead analyst at Future Market Insights (FMI).
Leading hollow fiber ceramic membrane manufacturers are expected to invest huge sums in research & and development activities. They are expected to launch new manufacturing processes, designs, and materials to reduce production costs and improve performance.
A handful of companies are focusing on educating several sectors and clients about the applications and advantages of hollow fiber ceramic membranes. They are conducting webinars, seminars, and workshops to attract their target audience.
Key Companies Profiled:
- Atech Innovations GmbH
- CoorsTek, Inc.
- Koch Membrane
- NGK Insulators, a Japan-based ceramics company, developed a carbon dioxide separation membrane for producing exhaust gas in December 2021. During testing, the carbon dioxide separation factor of this membrane outperformed that of the more popular DDR-type zeolite membrane by a factor of around five.
- A technology start-up from the United Kingdom named G2O Water Technologies secured its first commercial contract in July 2021 to use graphene oxide to enhance water filtration membranes. This was hugely significant for the technology sector and the global water industry. It was the first commercially viable application of the freshly discovered substance for water treatment.
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Hollow Fiber Ceramic Membrane Market Outlook by Category
- Chemical Processing
- Water & Wastewater Processing
- Food & Beverage
- Other End-Uses
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and the Pacific
- East Asia
- Middle East and Africa
Get More Valuable Insights on Hollow Fiber Ceramic Membranes Market
Future Market Insights (FMI) has released an objective assessment of the global hollow fiber ceramic membranes industry, presenting past demand data from 2018 to 2022 and projecting forecast statistics for the 2023 to 2033 period.
The hollow fiber ceramic membranes market is segmented by application (ultrafiltration, microfiltration, and nanofiltration) and end-use (biotechnology, chemical processing, water & wastewater processing, pharmaceutical, food & beverage, and others) across different regions from 2023 to 2033.
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in the Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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