24/06/2024
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Hollow Fiber Membranes Market Size Report, Industry Share, Analysis, Growth, 2030

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Hollow Fiber Membranes Industry Prospective:

The global hollow fiber membranes market size was evaluated at $350 million in 2022 and is slated to hit $800 million by the end of 2030 with a CAGR of nearly 15% between 2023 and 2030.

Hollow Fiber Membranes Market: Overview

Hollow fiber membranes are a class of artificial membranes comprising a semi-permeable barrier in the hollow fiber form. For the record, the product was developed in 1960 for the purpose of reverse osmosis applications. Currently, they are used for water treatment, cell culture, and desalination activities. In addition to this, they also find applications in medicine and tissue engineering domains. Reportedly, commercial hollow fiber membranes are packaged into cartridges that can be utilized for various gaseous and liquid separations.  

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Key Insights

  • As per the analysis shared by our research analyst, the global hollow fiber membranes market is projected to expand annually at the annual growth rate of around 15% over the forecast timespan (2023-2030)
  • In terms of revenue, the global hollow fiber membranes market size was evaluated at nearly $350 million in 2022 and is expected to reach $800 million by 2030.
  • The global hollow fiber membranes market is anticipated to grow rapidly over the forecast timeline owing to the thriving biopharmaceutical sector and the rise in the focus of firms on developing biologics and biosimilars.
  • In terms of filtration type, the microfiltration segment is slated to register the highest CAGR over the analysis period.
  • Based on membrane material, the polymer segment is projected to record a massive surge in the coming years.
  • Based on end-user, the pharmaceuticals & chemicals segment is predicted to lead the market space in the years ahead.
  • Region-wise, the European hollow fiber membranes industry is expected to register the fastest CAGR during the assessment timeline.

Hollow Fiber Membranes Market: Growth Factors

Flourishing the biopharmaceutical sector to scale up the growth of the market globally

The thriving biopharmaceutical sector and the rise in the focus of firms on developing biologics and biosimilars will steer the growth of the global hollow fiber membranes market. Favorable features such as high-pressure resistance, excellent packaging density, and superior permeability have increased the scope of demand for the product in various end-use sectors. A prominent increase in the popularity of thermic fluids is likely to translate into massive demand for hollow fiber membranes in the coming years. Escalating the use of single-use systems along with rising demand for constant manufacturing will steer the global market trends. The ability of the product to reduce pathogens and pollutants from water will prop up the expansion of the market globally in the coming years.

According to UNICEF, over 65% of the global population faces a scarce water supply every year due to limited water reservoirs and low availability of potable water. This, in turn, will favorably leverage the growth of the global market in the years ahead. New product launches and strategic acquisitions will contribute significantly towards the global market proceeds. For instance, in November 2019, Koch Membrane Systems, Inc., a key manufacturer of tubular & hollow fiber membranes, acquired Eco-Tec Incorporation, an environmental consulting service offering firm. The move is likely to boost the product portfolio of the former along with contributing majorly towards global market size.

Hollow Fiber Membranes Market: Restraints

A surge in the raw component costs can hinder the global industry expansion over 2023-2030

A rise in raw material costs and production costs has decimated the expansion of the global hollow fiber membranes industry in recent years. High operating costs of products can prove to be detrimental to global industry expansion.

Hollow Fiber Membranes Market: Opportunities

Rise in product penetration in various end-use sectors to open new panoramas of growth for the global market 

Massive use of products in food & beverages, electronics, and pharmaceutical sectors will open new growth avenues for the global hollow fiber membranes market. With the product having the excellent ability to filter, they are in huge demand across industries requiring high-quality water for manufacturing purposes. This aspect will drive the global market demand.  

Hollow Fiber Membranes Market: Challenges

High fiber breaking probability can disrupt the expansion of the global industry in the coming years

Irreversible fouling as well as fiber breaking is a key issue related to the product and this can impact the sale of the product in the coming years. Apart from this, fiber flexibility can prove to be a disadvantage for the product as it can break under huge strain.  

Hollow Fiber Membranes Market: Segmentation

The global hollow fiber membranes market is sectored into filtration type, membrane material, end-user, and region.                   

In filtration type terms, the global hollow fiber membranes market is segregated into ultrafiltration, microfiltration, and reverse osmosis segments. Furthermore, the microfiltration segment, which acquired approximately two-fifths of the global market share in 2022, is prognosis to record the fastest rate of growth in the next few years. The growth of the segment during the assessment timeline can be credited to easy access to a slew of pore sizes having massive use in virus, aerosols, and bacteria separation.  

Based on the membrane material, the global hollow fiber membranes industry is sectored into polymer and ceramic segments. Moreover, the polymer segment, which accumulated the largest share of the global industry in 2022, is predicted to lead the segmental space in the upcoming years. The expansion of the segment in the ensuing years can be owing to the hydrophilic nature of polymers along with their low protein-binding features.  

Based on the end-user, the hollow fiber membranes market globally is bifurcated into water & wastewater treatment, biotechnology, food & beverages, and pharmaceuticals & chemicals segments. Furthermore, the pharmaceuticals & chemicals segment, which dominated the end-user space in 2022, is prognosis to further dominate the global market in the coming years. The growth of the segment during the assessment timeframe can be attributed to escalating demand for products in microfiltration, ultrafiltration, and diafiltration processes in the manufacture of pharmaceuticals & chemicals.  

Hollow Fiber Membranes Market: Regional Insights

North America is predicted to maintain its dominant position in the global hollow fiber membranes market over the prognosis timespan

North America, which amassed nearly 40%of the global hollow fiber membranes market revenue share in 2022, is predicted to dominate the regional landscape in the upcoming years. Additionally, the regional market expansion over the years ahead can be credited to the launching of perfusion systems and inexpensive & convenient hollow fiber filters.  

The European hollow fiber membranes industry is set to register the highest CAGR in the ensuing years subject to the presence of key players in the European countries such as Germany, France, Spain, Italy, and the UK. Apart from this, a prominent increment in the use of products in the various end-use industries will proliferate the industry size in the continent.

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 Hollow Fiber Membranes Market: Competitive Space

The global hollow fiber membranes market profiles key players such as:

  • Daicen Corporation
  • Mitsubishi Chemicals
  • Polymem France
  • Asahi Kasei Corporation
  • Kuraray
  • Pentair
  • DowDuPont
  • Toray Industries
  • Synder Filtration
  • Toyobo
  • Microdyn Nadir
  • Lenntech
  • Koch Membranes
  • LG Chemicals
  • Spintek
  • Evonik Industries

The global hollow fiber membranes market is segmented as follows:

By Filtration Type

  • Microfiltration
  • Ultrafiltration
  • Reverse Osmosis

By Membrane Material

  • Polymer
  • Ceramic

By End-User

  • Water & Waste Water Treatment
  • Food & Beverages
  • Biotechnology
  • Pharmaceuticals & Chemicals

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France 
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

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