Hollow Fiber Filtration Market To Reach USD 3605.5 Million By 2028 With A CAGR of 6.5% - Valuates Reports
BANGALORE, India, Dec. 13, 2022 /PRNewswire/ -- The Hollow Fiber Filtration market is segmented by Membrane Module - PVDF Membrane Module, PTFE Membrane Module, Others, by Application - Municipal, Food and Beverage, Petroleum Industry, Machinery Industry, Stock Farm, Others. Global Opportunity Analysis and Industry Forecast, 2022 - 2028. It is published in Valuates Reports under the Industrial Materials & Equipment Category.
Due to the COVID-19 pandemic, the global Hollow Fiber Filtration market size is estimated to be worth USD 2358.9 million in 2021 and is forecast to a readjusted size of USD 3605.5 million by 2028 with a CAGR of 6.5% during the review period.
Major Factors Driving The Growth Of The Hollow Fiber Filtration Market Are
Factors such as a rising propensity for continuous manufacturing, an increase in the usage of single-use procedures, and an increase in spending on cell-based technologies, the Hollow Fiber Filtration market is increasing on a global scale.
The expansion of the hollow fiber filtration market has also been fueled by the expanding use of these filters to get rid of pollutants including fungi, viruses, and bacteria.
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TRENDS INFLUENCING THE GROWTH OF HOLLOW FIBER FILTRATION MARKET
Globally expanding wastewater treatment facilities have sparked a boom in industry product development. The product comes highly recommended for cleaning out pollutants and harsh chemicals found in wastewater. HFMs are renowned for their robustness and durability in the bioreactor. Rising urbanization and the deployment of smart city projects in developing nations will accelerate the development rate of the hollow fiber membrane market.
Ultrafiltration purification is effective, chemical-free, and does not completely remove natural minerals like calcium and magnesium. This factor is expected to drive the Hollow Fiber Filtration market growth.
Growth in the biopharmaceutical industry will further drive the growth of the Hollow Fiber Filtration market. The development of biologics and biosimilars is receiving significant investment from several businesses. In the discovery stage, biologics such as proteins, peptides, and monoclonal antibodies make up more than half of the therapeutic candidates. In the upcoming years, it is anticipated that the top 100 pharmaceutical products will generate about half of their revenue from biologics. Continuous manufacturing makes it possible to automate the entire production process without any outside assistance. As it improves scalability to meet the rising demand for biopharmaceuticals, continuous cell perfusion bioprocessing offers several advantages over traditional fed-batch processing in this situation.
The emergence of the COVID-19 pandemic presents a new potential for vaccine development. The market will benefit from the quick mass production of several vaccine types and the ongoing enhancement of quality standards to meet regulatory criteria.
In order to solve the major technical issues of easy membrane clogging when virus particles are concentrated and sensitivity to shear force with easy aggregation, the emerging hollow fiber membrane filtration technology has the following advantages: mild and low shear force, high dust holding capacity, flexible operation, long life, low cost, and easy amplification. As a result, it will be widely used in the fields of biopharmaceutical and life science research, such as vaccines.
Because of the short strand diameter, hollow fiber membranes have an extremely high packing density. The flexibility of the strands makes it possible to create some filter configurations that are not achievable with conventional filtration setups. They can process feed streams with high total suspended solids and can also be air scoured and backflushed from the permeate side (TSS).
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HOLLOW FIBER FILTRATION MARKET SHARE ANALYSIS
SUEZ, DuPont, Asahi Kasei, and other major businesses worldwide are involved in hollow fiber filtering. A share of around 54% is held by the top 3 businesses.
With a market share of roughly 32%, China leads the way, followed by Europe and North America. Due to technology and an increase in continuous manufacturing over batch manufacturing in recent years, the area has also seen mass production. Due to the presence of major market players, this region is regarded as a lucrative market for international investment.
With a market share of over 90%, PVDF membrane modules are the most popular product.
Due to increased water treatment activity and strict restrictions surrounding emissions and water treatment, PVDF membrane demand is on the rise.
In terms of applications, municipal applications account for around 60% of all applications.
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Market By Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
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Key players
- SUEZ
- DuPont
- Asahi Kasei
- CITIC Envirotech
- Mitsubishi Chemical
- Koch Industries
- Sumitomo Electric Industries
- W. L. Gore & Associates
- Zhejiang Jingyuan
- DIC
- Zhongke Bidun
- Zhejiang Dongda
- Hangzhou Kaiyan Film
- Hefei Xinda Membrane
- Dongyang Jinlong
- Theway
- Zhejiang Jiari Fluoroplastic
- Oxymo Technology
- Youpu
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