SAN FRANCISCO, Nov. 9, 2020 /PRNewswire/ -- The global nonwoven industrial membrane market size is expected to reach USD 1.6 billion by 2027, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.8% from 2020 to 2027. Growing demand from the food and beverage industry owing to the increasing use of membrane filtration technology for bottled water applications is expected to drive the market.
Key suggestions from the report:
The spiral wound segment dominated the market with a revenue share of 36.7% in 2019 owing to its increasing application in wastewater treatment activities
The pharmaceutical industry registered the highest demand for the non-woven industrial membrane and contributed USD 378.3 million in 2019. The segment growth is estimated to be driven by the increasing adoption of filtration technology for water treatment application in the pharmaceutical industry
The food and beverage segment is anticipated to follow a significant growth and is estimated to reach USD 247.9 million by 2027, which can be attributed to increasing food and beverage production in emerging economies such as China and India
North America accounted for revenue of USD 415.6 million in 2019. The regional demand is led by the U.S owing to the presence of various manufacturing companies in the country coupled with strict government regulations in the region
Industry exhibits high competitive rivalry owing to increasing investments by key players to strengthen their product portfolio and following a competitive pricing pattern in the industry. With new players entering the market, the rivalry is projected to grow over the forecast period.
The market has observed an increasing inclination towards the use of industrial membranes from food and beverage companies. These companies prefer nonwoven industrial membranes due to their ability to improve the taste, salinity, and color of groundwater, municipal water, or surface water, which is expected to drive the product demand.
However, the market is projected to face a setback in the current year due to the COVID-19 outbreak in majority of the countries. The dampening manufacturing sector and trade disruptions between China and the US are a few major concerns that can negatively impact market growth.
The market is highly competitive due to the presence of multiple established firms in the market such as 3M, Toray Industries, Lyondell Inc, etc. These companies continue to invest heavily in their research and development activities and in technological advancements which keep the market highly competitive.
Grand View Research has segmented the nonwoven industrial membrane market on the basis of module, application, and region:
Polypropylene Nonwoven Fabric Market – The global polypropylene nonwoven fabric market size was estimated at USD 21.39 billion in 2018 & expected to register a CAGR of 6.5% over the forecast period. End-use industries as hygiene, medical, automotive, agriculture, and furnishing will boost the market growth.
Polyimide Film Market – The global polyimide film market size was estimated at USD 1,492.3 million in 2016. Development in aerospace technology and growth in the electronics sector is driving demand of this industry.
Nonwoven Geotextiles Market – The nonwoven geotextiles market size in Europe, Middle East, and Africa, and Asia Pacific was estimated at USD 4.12 billion in 2017 and is expected to register a CAGR of 6.7% over the forecast period.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.