Home > Chemicals & Materials > Advanced Materials > Functional Materials > Hollow Fiber Membrane Market
Hollow Fiber Membrane Market Size
Hollow Fiber Membrane Market size was valued at USD 9.43 billion in 2019 and is estimated to exhibit 9.4% CAGR from 2020 to 2026. Technological advancements in the field of wastewater management across developed countries will increase the product penetration in membranes industry by 2026.
Hollow fiber membrane (HFM) has compact design and high degree of flexibility. HFMs are gaining substantial attention from wastewater treatment facilities, biotech applications, and food & beverage processing plants. Contamination of drinking water across the world has mandated the establishment of waste treatment facilities in former times. Many companies are investing in building infrastructure for waste treatment to increase their presence in the sector.
In November 2020, Binh Duong Water and The Asian Development Bank entered into strategic lending agreement to expand the Tan Hiep Water Treatment Plant based in Vietnam with an investment of USD 8 million. This expansion project is expected to meet the rising water need in the industrial and residential sectors in Tan Uyen Town, Ben Cat town, Thu Dau Mot city and Binh Duong new city, of Binh Duong province. Such trends are expected to propel the hollow fiber membrane market growth from 2020 to 2026.
| Report Attributes | Details |
|---|---|
| Base Year: | 2019 |
| Market Size in 2019: | 9,431.5 Million (USD) |
| Forecast Period: | 2020 to 2026 |
| Forecast Period 2020 to 2026 CAGR: | 9.4% |
| 2026 Value Projection: | 16,944.7 Million (USD) |
| Historical Data for: | 2016 to 2019 |
| No. of Pages: | 180 |
| Tables, Charts & Figures: | 159 |
| Segments covered: | Filtration Type, Membrane Material, End-user and Region |
| Growth Drivers: |
|
| Pitfalls & Challenges: |
|
Hollow Fiber Membrane Market Analysis
Stringent regulatory requirements from various governments regarding contaminated water for public use will increase the water treatment facilities worldwide. The U.S. has specified regulations including Clean Water Act and National Primary Drinking Water Regulations (NPDWR), to regulate contaminated water in the country. Such Hollow fiber membrane market trends are expected to increase the need for water treatment facilities, which will further drive product demand by 2026.
The ongoing coronavirus pandemic is expected to have negligible impact on the hollow fiber membrane market sales by 2026. This can be attributed to the growing demand for treated water across the post-pandemic world. Increasing focus on washing hands frequently along with concern toward hygiene & safety has elongated the consumption of freshwater from 2019 to 2020. Furthermore, countries with inadequate water supply may see promising growth in the wastewater treatment sector post-2020, further supporting the revenue generation across the world.
The Microfiltration (MF) segment generated over USD 4.5 billion in 2019 and will witness steady growth over forecast timeframe. This can be attributed to its predominant usage in a range of industries including portable water treatment, dairy processing plant, food & beverages processing, etc.
MF hollow fiber membranes are gaining huge importance in applications including cold sterilization of beverages owing to their excellent capability of removing harmful species such as spores and bacteria. The increasing penetration of packaged food consumption in Asia Pacific is expected to increase the share of microfiltration HFM in the hollow fiber membrane market by the end of 2026.
Polymeric materials will be the leading segment in hollow fiber membrane market and will hold around 90% share in 2019. These materials have gained prominence as they are easy to manufacture, facilitate high removal capabilities, and consume low amounts of energy & chemical during processing. PVDF has been a preferred choice for membrane manufacturers as it has high permeability along with better mechanical strength. Commonly available polymeric material for membrane processing include cellulose acetate, Polysulfone (PS), Polyacrylonitrile (PAN), Polytetrafluoroethylene (PTFE), and many more.
The water & wastewater treatment segment accounted for over 45% share in 2019 and is expected to grow at a substantial rate by 2026. Rising number of wastewater treatment facilities across the world has stimulated product development in the sector. The product is highly recommended for cleaning harsh chemicals & contaminants present in wastewaters. HFMs are widely known for their durability and strength in bioreactor plants. Rising urbanization along with the implementation of smart city projects in emerging economies will boost the hollow fiber membrane market growth rate from 2020 to 2026.
Emerging economies are developing their existing wastewater treatment ecosystem owing to the bad quality of water. Low income countries of Asia Pacific including Vietnam, Bangladesh, Nepal, Myanmar, and Cambodia, have less than 20% of wastewater treatment rate, which is the key reason behind the inferior share of HFM in these countries. Contrary to this, developed nations of Europe and North America account for more than 95% of the wastewater treatment rate. Depleting layers of freshwater resources across the world will further create a need to look for alternative solutions, which are expected to drive the hollow fiber membrane market development by 2026.
Asia Pacific held more than 45% share in hollow fiber membrane in 2019. In the initial years, China RO membrane sector was dominated by top players and water treatment companies had to rely on imports to meet domestic consumption. However, the industry shifted in few years owing to the proliferation of domestic suppliers, who offered competitive pricing along with superior quality.
Additionally, the region is also seeking continuous investments from major companies across the world, enhancing wastewater treatment facilities. JFE Engineering entered into a strategic agreement with a Japanese firm to speed up its South East Asian sewage water treatment plant by investing USD 137 million in 2020, which aims to treat approximately 36,000 cubic meters of wastewater per day. Such trends are enhancing the growth of hollow fiber membrane market in the region.
Hollow Fiber Membrane Market Share
Some of the key manufacturers of the hollow fiber membrane industry are
- Toray
- Asahi Kasei
- DuPont
- LG Chem
- Lenntech
The hollow fiber membrane market report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2016 to 2026 for the following segments
By Filtration Type
- Microfiltration
- Ultrafiltration
- Reverse osmosis
By Membrane Material
- Polymer
- Ceramic
By End-user
- Water & wastewater treatment
- Food & beverages
- Biotechnology
- Pharmaceuticals & chemicals
- Others (paper, oil & gas, pesticide, etc.)
The above information is provided on a regional and country basis for the following:
By Region
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- Malaysia
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
Frequently Asked Questions (FAQ) :