PUBLISHER: The Business Research Company | PRODUCT CODE: 1526983
PUBLISHER: The Business Research Company | PRODUCT CODE: 1526983
A hollow fiber membrane is a filtration membrane made up of small, porous tubes or fibers. These fibers have a hollow center that allows fluids to pass through while capturing particles, contaminants, or specific molecules based on their size. They are widely used in separation processes across industries, benefiting from their design that provides a large surface area for filtration and separation.
The primary filtration types of hollow fiber membranes include microfiltration, ultrafiltration, and reverse osmosis. Polymer hollow fiber membranes, in particular, are artificial membranes made from synthetic polymers known for their high permeability, durability, and resistance to chemicals and biological contaminants. These membranes are crafted from various materials such as polymers and ceramics and find applications in water and wastewater treatment, food and beverage processing, biotechnology, pharmaceuticals, chemicals, and other sectors.
The hollow fiber membranes market research report is one of a series of new reports from The Business Research Company that provides hollow fiber membranes market statistics, including the hollow fiber membranes industry global market size, regional shares, competitors with hollow fiber membranes market share, detailed hollow fiber membranes market segments, market trends, and opportunities, and any further data you may need to thrive in the hollow fiber membranes industry. These hollow fiber membranes market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The hollow fiber membranes market size has grown rapidly in recent years. It will grow from $10.97 billion in 2023 to $12.08 billion in 2024 at a compound annual growth rate (CAGR) of 10.2%. The growth observed in the historic period can be attributed to several factors, including increased demand for clean water, rapid industrial growth, expansion of the biotechnology sector, increased applications in water and wastewater treatment, and population growth.
The hollow fiber membranes market size is expected to see rapid growth in the next few years. It will grow to $17.88 billion in 2028 at a compound annual growth rate (CAGR) of 10.3%. In the forecast period, growth is expected to be driven by increasing agricultural output, growing demand in the food and beverage industry, rising global water scarcity issues, an increase in diseases, and the growth of biotechnology and chemical industries. Major trends anticipated during this time include technological innovations, advancements in medical applications, developments in membrane materials, integration with smart technologies, and a focus on energy-efficient solutions.
The hollow fiber membrane market is set to experience growth driven by the increasing demand for water and wastewater treatment solutions. These solutions encompass technologies, systems, and services tailored to efficiently manage and treat water and wastewater, ensuring its quality and safety for diverse applications in industries, commerce, and municipalities. Factors such as industrial expansion, global water scarcity, and heightened awareness of water contaminants' health impacts contribute to the demand for water and wastewater treatment solutions. Hollow fiber membranes play a vital role in these solutions, facilitating the treatment of freshwater and the cleaning of used water by removing contaminants and meeting health and safety standards for consumption, industrial use, and environmental discharge. For example, in March 2023, Ireland's Central Statistics Office reported a 1.2% increase in registered domestic wastewater treatment systems, reaching 487,423 in 2022 from 481,694 in 2021, highlighting the growing demand driving the hollow fiber membrane market.
Leading companies in the hollow fiber membranes market are innovating with advanced technologies, such as large membrane area technology, to boost filtration process efficiency and capacity. Large membrane area technology involves designing and packaging membrane modules to achieve significant surface areas compactly and effectively. For instance, Toray Industries Inc., in November 2021, developed a hollow fiber ultrafiltration membrane module using high-strength hollow fiber membrane technology and large membrane area technology. This module reduces CO2 emissions in food and beverage manufacturing and biotechnology purification processes, cutting down on module numbers, space requirements, and potentially lowering cleaning and equipment costs by over 20%.
In November 2023, Nijhuis Saur Industries partnered with NX Filtration to leverage NX Filtration's nanofiltration technology in innovative mobile water treatment solutions. This partnership aims to address water scarcity and reduce environmental footprints while providing effective water treatment solutions. NX Filtration specializes in hollow fiber membranes, contributing to the advancement of water and wastewater treatment technologies.
Major companies operating in the hollow fiber membranes market are Veolia, LG Chem, 3M Company, Mitsubishi Chemical Group Corporation, Sumitomo Electric Industries Ltd., Asahi Kasei Corporation, Toray Industries Inc., Evonik Industries AG, Parker Hannifin Corporation, DuPont de Nemours Inc., Kuraray Co. Ltd., GEA Group, Sartorius AG, Pentair, UBE Corporation, Toyobo Co. Ltd., Pall Corporation , Hydranautics, Applied Membranes Inc., Koch Separation Solutions, Synder Filtration Inc. , SpinTek, Memstar Corporation, JIUWU HI-TECH Membrane Technology, Daicen Corporation
Asia-Pacific was the largest region in the hollow fiber membranes market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the hollow fiber membranes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the hollow fiber membranes market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The hollow fiber membranes market consists of sales of sterapore hollow fiber membranes, zeeweed ultrafiltration (UF) hollow fiber membranes, and separel hollow fiber membranes. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Hollow Fiber Membranes Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on hollow fiber membranes market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for hollow fiber membranes ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The hollow fiber membranes market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.