The ultrafiltration market is projected to grow from USD 1,064.0 million in 2018 to USD 2,140.1 million by 2023, at a CAGR of 15.0% from 2018 to 2023. Increasing awareness of water & wastewater treatment and requirement of selective separation for meeting water quality standards are the major drivers for the ultrafiltration market. In addition, stringent environmental regulations in many countries are also expected to drive the ultrafiltration market during the forecast period.
The growth of the APAC ultrafiltration market can be attributed to the large industrial base in the region and increased demand for ultrafiltration from the pharmaceutical and food & beverage industries of the region. In addition, several initiatives undertaken by governments of different countries of the region to attract investments from various international companies are also expected to propel the growth of the APAC ultrafiltration market during the forecast period.
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Ultrafiltration is used in two applications namely, industrial and municipal treatment.
Ultrafiltration is widely used in various industries such as food & beverage, pharmaceutical, chemical & petrochemical, and textile. These membranes are used for water and effluent treatment. In dairy and electrocoating industry, these membranes are used for processes as well. The food & beverage industry is very competitive and dynamic in nature; there is an increase in the awareness regarding health among consumers as well as in demand for high-quality, safe, and nutritious products. Employing the right membrane filtration solutions to accomplish these goals is, therefore, necessary. Membrane equipment for this sector has become integral to manufacturing milk, cheese, and whey proteins. Efficient membrane filtration solutions help the food & beverage manufacturers to concentrate, clarify, and purify products including bottled water, juice, and wine. They are also used for enzyme recovery, processing of cheese whey, and removal of pathogens from milk.
Municipal water treatment is the larger segment of the ultrafiltration market. The ultrafiltration technology has been in use for municipal water treatment application since the 1960s. Ultrafiltration is used in water & wastewater treatment plants for removal of microbes, desalination of seawater, sewage treatment, household wastewater treatment, processing of natural mineral water, production of potable water, and treatment of brackish water. Membrane Bioreactors (MBR) that use ultrafiltration are an integral part of wastewater treatment, creating high-quality water for reuse.
Finding new applications and lack of awareness in underdeveloped regions is a major challenge for the growth of the ultrafiltration market during the forecast period. DowDuPont Inc. (US), Hyflux Ltd. (Singapore), Inge GmbH (Germany), Toray Industries, Inc. (US), GE Water & Process Technologies (US), Hydranautics (US), and Pentair plc (US) are the key players operating in the ultrafiltration market. These companies have adopted various organic as well as inorganic growth strategies between 2015 and 2018 to strengthen their position in the ultrafiltration market. The strategy of partnerships, agreements & collaborations was among the key growth strategies adopted by these leading players to enhance their regional presence and meet the growing demand for ultrafiltration from emerging economies.
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