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Membrane Filtration Systems Market projected to reach USD 24.6 billion by 2032
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The Membrane Filtration Systems Market is set to reach USD 24.6 billion by 2032, driven by demand in water purification and the dairy industry, despite high setup costs.
The global Membrane Filtration Systems Market is estimated to be valued at USD 16.8 billion in 2022 and is projected to reach USD 24.6 billion by 2032, at a CAGR of 6.4% from 2018 to 2025.
Membrane filtration systems are commonly used for wastewater purification and for sterilization, concentration processes, and separation in the food & beverage sectors. Due to the rising awareness among consumers about safety and filtration processes, the demand for membrane filtration systems is increasing.
The global membrane filtration systems market size is expected to reach US$ 23.3 Bn by the end of 2030. According to a study by Future Market Insights (FMI), the market will show a steady rise at 4.9% CAGR between 2020 and 2030. According to the report, the rapidly growing dairy industry, stringent regulations for water safety & filtration, and rising demand for premium alcoholic drinks products are some factors driving the growth in the membrane filtration systems market.
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Additionally, advances in membrane filtration systems technologies, high growth in the dairy industry, and growth in the bio-based pharmaceutical industry, and rapid development in generic production are the key factors that are driving the membrane filtration systems market.
The future prospects for market growth are projected to be the recycling of used water, purification of wastewater, and separation of initial ingredients in pharmaceutical synthesis.
The Membrane Filtration Systems Market will gain in response to the expansion of the bio-based pharmaceutical market. A high setup cost for membrane filtration systems is, however, a restraining growth to an extent.
Despite Focus on Healthy Diet, Change in Consumption Pattern Due to COVID-19 Outbreak Will Impact Growth
Coronavirus outbreak had a considerable impact on consumption pattern of buyers. The focus on health and hygiene products and rise in demand for healthy organic food are indicative of key shifts in consumer behaviour. This will invariably impact growth forecasts for the market. However, top companies in membrane filtration systems market expect supply chain and cash flow disruptions to remain the biggest hurdles even in the post lockdown situation. Following coronavirus outbreak, companies operating in this market are under pressure to deliver products to market in time. These developments could have significant impact on the market.
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“The increase in demand for dairy products, government support for membrane filtration systems technology in water purification, the growth in the purchasing power of the middle-class community for quality goods and the increase in the consumption of functional food are some of the important factors that are projected to drive demand for membrane filtration systems technology in Asia Pacific,”said a lead analyst at FMI.
It Includes In-Depth Insights Into The Membrane Filtration Systems Market. Some Of These Are:
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Competitive Landscape
The leading players in the membrane filtration systems market include Porvair Filtration Group, Pentair Plc., Prominent GmbH, SPX Flow, Inc., Veolia, Koch Membrane Systems Inc, 3M Company, Pall Corporation, GEA Group AG, Alfa Laval AB, Suez Water Technologies and Solutions and DowDuPont.
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The article discusses the projected growth of the Membrane Filtration Systems Market, expected to reach USD 24.6 billion by 2032.
Market growth is driven by demand for water purification, the dairy industry's expansion, and advancements in filtration technology.
High setup costs and supply chain disruptions due to COVID-19 are significant challenges for the market.
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