With technology having proliferated the printing industry, digitally manufactured inks are increasingly replacing conventional publishing inks. Digital inks are necessary to augment the quality of high-end products in the fashion textiles sector and textile manufacturers are switching to advanced digital inkjet printers that incorporate newer types of ink such as pigment ink. Inkjet technology requires effective degassing, which is typically achieved through hollow fiber membranes. Given the rising voluminous demand for digitally printed textiles, the adoption of membrane technology has surged in the industrial printing sector. This is anticipated to boost revenues in the global chemical separation membranes market in the coming years.
In a new study published recently, leading research firm Persistence Market Research throws light on the factors impacting growth in revenue of the global market for chemical separation membranes. According to the report, the chemical separation membranes market is estimated to be valued at US$ 857.4 Mn by 2018 end and this is projected to increase to US$ 1,617.0 Mn by 2026, exhibiting a CAGR of 8.3% during the period 2018 to 2026.
Development of High Quality Membranes to Augur Well for the Chemical Separation Membranes Market
Manufacturers are leveraging advanced production technologies to manufacture high quality membranes to stay ahead of competition in the lucrative global market for chemical separation membranes. Manufacturers are striving to overcome the numerous technical challenges in membrane technology to build better and more efficient products.
High cost and high energy consumption are other challenges faced by manufacturers in the chemical separation membranes market, and these challenges are being addressed through the deployment of advanced and more efficient technologies. A high emphasis on research and development in membrane technology is one of the drivers of stability and revenue growth of the global chemical separation membranes market.
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Key Trends Anticipated to Define the Future of the Chemical Separation Membranes Market
In this exhaustive report, Persistence Market Research highlights the key trends anticipated to impact growth of the chemical separation membranes market. A few of the factors trending the global market are mentioned below.
- HVAC technology (heating, ventilation, and air conditioning) will gain immense traction in the near future
- Membrane technology will dominate non-membrane technologies in key applications
- Manufacturers are shifting focus towards improving membrane modules and refining of the core membrane module architecture, to establish better integrity and cohesion of membranes and modules
- Companies in the global market for chemical separation membranes are leveraging sustainable technologies capable of creating a positive environmental impact
- Manufacturers of membranes are improvising products to reduce instances of failure and are also developing membrane based sensors
- The future is likely to witness a scaling up of production methodologies by companies in the chemical separation membranes market
- An increasing deployment of ventilators for energy recovery is anticipated in the coming years, to improve operational efficiencies
Development of Advanced Membranes to Capture Carbon Di Oxide New Opportunity Area for Manufacturers
Demand for membrane technology from the water and energy sectors is creating lucrative opportunities for manufacturers of chemical separation membranes. There is a great deal of optimization in membrane technology for the efficient capture of carbon di oxide in the coal and natural gas sectors. Membrane technology is emerging as a potent alternative to the chemical absorption process for capturing carbon di oxide. The high production efficiency and cost-effectiveness of membrane technology calls for the optimization of membrane process efficiencies in gas capture industries.
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Key Takeaways from the Research Study on the Chemical Separation Membranes Market
Companies operating in the global chemical separation membranes market are working on beefing up product development to address the issues of key end-use industries; for instance, development of membranes for newer applications such as carbon emission capture. The application of chemical separation membranes across end-use industries is expanding, such as in the printing inks sector. Key players are targeting developing markets for increasing their product outreach and are developing membranes with better efficiency and higher industrial productivity to grab a larger share of the global chemical separation membranes market.