Nanofiltration Market to See 18.2% Annual Growth Through 2024

Industry Boosted by Greater Need to Recycle and Reuse Water

July 18, 2019

WELLESLEY, Mass., July 18, 2019 – An increasing need for affordable water purification technologies to obtain potable water and a greater need to recycle and reuse wastewater from industrial processes are two factors driving growth in the global nanofiltration market, according to a report by BCC Research, “Global Markets and Technologies for Nanofiltration.”

The market expects to see a compound annual growth rate (CAGR) of 18.2% through 2024, when it could be worth $1.2 billion.

Major players in the market include: Koch Membrane Systems, Toray Industries (TRYIY), Nitto Hydranautics and Microdyn-Nadir.

Research Highlights

• The global market for nanofiltration membranes in water and wastewater treatment should grow from $392 million in 2019 to $896 million by 2024 with a CAGR of 18.0%.
• Nnofiltration membranes in food and beverage applications should grow from $56 million in 2019 to $101 million by 2024 with a CAGR of 12.5%.
• Water and wastewater treatment currently account for the largest share of the market, at an estimated 75.7% of the total in 2019, corresponding to $392 million.

Read the full report here: https://www.bccresearch.com/market-research/nanotechnology/nanofiltration.html

“The global demand for potable water is projected to reach $946 billion in 2024 and is expected to grow at a CAGR of 7.6% through the next five years,” writes analyst Margareth Gagliardi. “Due to continued population growth, resulting in increased demand for water for private, agricultural and industrial use, and a decrease in freshwater sources related to environmental degradation and environmental changes, potable water is becoming scarcer.”

World Markets for Nanofiltration

Currently, approximately 45% of all companies involved in the development and manufacturing of nanofiltration membranes are located in the U.S., 35% are located in Europe, while the remaining 20% are distributed between Asia-Pacific and the Rest of the World. The market is formed by players of different sizes that serve both national and international markets.

Editors/reporters requesting analyst interviews should contact Sarah Greenberg at press@bccresearch.com.

Global Markets and Technologies for Nanofiltration( NAN045C )
Publish Date: Jul 2019    

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