The global nanofiltration membrane market is anticipate to escalate at 5.02% ($Mn) and 5.43% (kilos) CAGR through the forecast period of 2019-2027 & is expected to capture $1,045 million revenue by the end of 2027. The increasing rate of development in the filtration technology will further drive the expansion of the market in the upcoming years.
The pharmaceutical sector has become a major benefactor for the nanofiltration membranes market since that former is heavily depending on membranes for various purposes. This will propel the market growth in the forecasting period. For instance, they are used to isolate the antibiotic for higher output during conversion. They are known to enhance the sales of generic medicines. On the other hand, the lack of adequate amounts of fund in the developing countries, high initial cost, etc. are restraining the market growth across the global platform.
On the basis of geography, the global nanofiltration membrane market has been demarcated into a few regions, namely, North America, Asia Pacific, Europe and the Rest of World regional segment that encompasses the remaining countries. The Asia Pacific nanofiltration membrane market is anticipated to grow at the highest CAGR of XX% during the forecast period. This particular trend can be factored to the increase in industrialization and water treatment of municipal wastewater which will essentially propel the Asia Pacific nanofiltration membrane market.
The major companies operating in the market are Applied Membranes Inc., DowDuPont Inc., Veolia Water Technologies Inc., Inopor, MICRODYN-NADIR, Koch Membrane Systems Inc., Evonik Industries, Pall Corporation, Novasep LLC, Hyflux Ltd., GEA Group Aktiengesellschaft, Toray Industries, Inc., Alfa Laval AB, Hydranautics (Nitto Group), Parker Hannifin, Nitto Denko Corporation, Synder Filtration, and Argonide Corporation.