A new report by Transparency Market Research (TMR) states that the global hollow fiber ceramic membrane market isexperiencing a remarkable rise in its valuation. This growth can be attributedat the rising usage of hollow fiber membranes by municipalities and the sharpdecline in the cost and installation expenses of these membranes. According tothe report, the market, which stood at US$ 99.0 mn in 2016, is estimated todouble by 2025 and reach US$200 bn. The CAGR of this market is pegged at morethan 11% between 2017 and 2025.
The worldwide hollow fiber ceramic membrane market demonstrates acompetitive business landscape. Companies are relying upon product innovation togain more market share. For instance, Nanostone Water Inc. came up with a highsurface area ceramic ultrafiltration membrane for industrial water andwastewater treatment in 2017. Players are also taking up inorganic expansionstrategies, 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 ofthe key manufacturers of hollow fiber ceramic membrane across the world.
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Chemical Processing and Pharma Industries to CreateGrowth Opportunities
With the significant rise in the global population, the need for cleanand potable water has increased, augmenting the requirement for wastewatertreatment.There are wastewater treatment units at everymunicipality, which collect wastewater through sewers and treat it forreutilization. Since the quality of wastewater treated through hollow fiberceramic membranes is good and fit for reusing, the treated water can directlybe supplied to residents or dumped in seas without polluting them. Thesebenefits of hollow fiber ceramic membranes have augmented their usage inwastewater treatment, resulting in a tremendous growth in the global hollowfiber ceramic membrane market.
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Going forward, the worldwide hollow fiber ceramic membrane market islikely to witness a substantial rise in the near future. The increasing demandfor hollow fiber ceramic membranes in chemical processing and thepharmaceutical industries is creating new growth opportunities for this market.Manufacturers will also gain substantially from the surging uptake of productswith these membranes in municipality offices for wastewater treatment over thenext few years. Apart from this, the availability of cost-efficient productsand reduced installation cost are expected to add to the growth of the globalhollow 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 marketis categorized into Europe, the Middle East and Africa, Asia Pacific, LatinAmerica, and North America. Asia Pacific has been the dominant market forhollow fiber ceramic membrane across the world over the last few years. Thehigh population growth has pushed the need for clean water, creating a demandfor wastewater treatment in this region. The regional market is anticipated toremain at the top of the game even in the coming years. The governments areimplementing new standards for wastewater treatment, which may translate inincreased usage of products with hollow fiber ceramic membranes. The augmentingscarcity of fresh water and increasing awareness among consumers about theefficacy of these membranes in wastewater treatment are expected to boost theAsia Pacific hollow fiber ceramic membrane market in the near future.
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In comingyears, as the debate on the potential impact of the chemical manufacturingacross industries on the ecology gets fiercer, new monitoring technologies willemerge. Latest compliance regulations will expand the scope of greenchemistries for businesses in the downstream value chain. Further,manufacturers in the market will increasingly leverage digital channels to reachhigh-value customers. Many will use them to avoid disruption such as by pandemics.
An assortment of analytics technologies will helpin augmenting the commercial productivity. However, until now, the pace ofadoption of digital technologies in the overall chemicals industry has beenrelatively slow. It thus remains to be seen how far the players in the marketwill be able to unlock long-term productivity benefits of AI-driven managementof various business functions, particularly research and development andproduction.
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