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Global polymer nanomembrane market generated a revenue of US$ 786.5 million in 2022 and is estimated to reach valuation of US$ 1,787.6 million by 2031 at a CAGR of 9.9% during the forecast period, 2023-2031. In terms of volume, the market is growing at a CAGR of 8.9% during the same period.
A nanomembrane is a thin synthetic structure that measures less than 100 nm in thickness. These membranes have a wide range of applications in various fields, including drug delivery, biomolecule use, nanofiltration, and nanofiber production. In recent years, there has been a significant increase in the use of polymer nanomembranes, which has led to an expansion of the market for these materials.
One of the key drivers of this growth is the need for selective permeability to meet water quality standards. As the demand for clean water continues to rise, the water and wastewater industry has experienced significant growth, and this trend is expected to continue over the forecast period. As a result, the market for polymer nanomembranes is also anticipated to expand.
In addition to the water and wastewater industry, the electronics and biotech device industries are also expected to drive the growth of the polymer nanomembrane market. Technological advancements in these fields have increased the demand for these materials, and the implementation of industry 4.0 has further fueled this demand. However, geopolitical tensions in the electronics industry may slow down the growth of the market over time.
Electronic and Biotech Advancements in Technology
The development of specialized software is largely attributable to advances in mobile technologies and connectivity. This considers patient-worked gadgets that empower remote and monetarily productive conveyance of a scope of medical care administrations. Smartphones have proven to be crucial in the creation of this essential connectivity ecosystem. Many of today's innovations can be delivered and disseminated thanks to the vehicle they provide.
Devices for home biometrics are one component of broader solutions for remote healthcare. By self-monitoring their own biometrics and vital signs, these solutions make it possible for patients to actively participate in the treatment of their condition in the global polymer nanomembrane market. These devices not only offer advantages in terms of healthcare, but they also offer an economically viable option for today's growing elderly population. Besides, it has an effect on the patient's quality of life.
Plant and animal breeding, food production, fermentation products and processes, pharmaceutical production, and fertilizer and fertilizer production are all examples of traditional biotechnology that have been incorporated into modern biotechnology. Traditional biotechnology, which has been around for a long time and is widely used, is one type of biotechnology, while modern biotechnology, which is new and constantly evolving, is another type of biotechnology.
Low levels of awareness in developing nations
Ultrathin membranes with a thickness of less than 100 nm are known as polymer nanomembranes. Water and wastewater treatment, chemicals, food and beverage, electronics, and others all make use of them. When it comes to setting up water and wastewater treatment plants, developing nations in the polymer nanomembrane market face a number of significant challenges, including inadequate infrastructure, inadequate sanitation policies, and a lack of funds. Water filtration at the treatment plants continues to be carried out in the traditional manner.
With aggressive funding and awareness-raising campaigns, nanomembranes need to be incorporated into coherent and ambitious programs of nanotechnology research. Because recent developments clearly indicate that the field may have many promises and even surprises in store, care should be taken regarding both the fundamental and applied aspects of research.
Nanomembranes are a newer technology whose application in water and wastewater treatment (such as desalination and filtration) is limited in developing nations due to a lack of awareness.
Polymer nanomembranes are available in different types, each with unique properties and applications. In 2021, the polyacrylonitrile segment held the largest 38.3% revenue share of the global polymer nanomembrane market. Polyacrylonitrile membranes are prepared using a hydroxylamine-induced phase inversion process and have high separation efficiency and flux for a variety of oil-in-water emulsions. These membranes also exhibit excellent antifouling properties and recyclability due to their ultralow oil grip property.
On the other hand, the polyamide segment is expected to witness significant growth at a CAGR of 11.1% over the forecast period. Polyamides are highly affordable and suitable for a range of industrial applications due to their favorable properties. They are cheaper to install, easier to transport, and have lower production costs than metals. The increasing demand for polyamide in various industries is expected to drive its growth in the polymer nanomembrane market.
The water and wastewater treatment industry dominated the global polymer nanomembrane market in 2021 and is expected to continue its dominance over the year. Polymer nanomembranes are extensively used in this industry as filtration membranes to remove heavy metals, salt, nitrate, sulfate, and natural organic matter (NOM) from water. These membranes are also used to disinfect and purify potable water and to soften hard water.
The growth of the water and wastewater treatment industry is attributed to the increasing awareness of the importance of clean drinking water for good health. Moreover, factors such as growing urbanization, water scarcity, and government investment in the water treatment industry have led to an increase in the demand for point-of-use water filtration systems.
Therefore, it is expected that the water and water treatment sector will continue to dominate the polymer nanomembrane market during the forecast period.
In 2021, North America emerged as the dominant market for polymer nanomembranes, followed by Europe and APAC. This can be attributed to stringent environmental regulations in the region, including the Clean Water Act (CWA), the Safe Drinking Water Act (SDWA), and the United States Environmental Protection Agency (EPA), which have a direct impact on the water treatment industry.
Europe polymer nanomembrane market is expected to witness the highest CAGR of 10.5% during the forecast period. One of the key factors driving this growth is the development of novel methods for precise nanomembrane processing and separation of exact polymers from reaction debris. By linking a central hub molecule to multiple growing polymer chains, larger macromolecular homostars can be created, enabling faster and more precise patterns of exactymer chain development.
Additionally, the region's growth will be aided by advancements in the chemistry of iterative synthesis, such as the development of methods for the stepwise growth of polyethers, polysiloxanes, polyesters, and side-chain functionalized monomers of these species. Automation and design will also play a crucial role in enabling faster and more accurate polymer chain growth.
Top Player in Polymer Nanomembrane Market:
The polymer nanomembrane market size was US$ 786.5 million in 2022.
The polymer nanomembrane market is studied from 2018-2031.
Yes, the polymer nanomembrane market report includes COVID-19 impact analysis.
The polymer nanomembrane market is projected to grow at a CAGR of 9.9% during the forecast period 2023-2031 and is expected to reach a value of USD 1,787.6 million by the end of 2031.
Factor such as technological advancements in electronic and biotech devices, and expansion of the water & wastewater treatment industry are driving the growth of the polymer nanomembrane market.
Water & water treatment segment holds the highest CAGR in the polymer nanomembrane market during the forecast period.
Europe region is growing with the highest CAGR during the forecast period.
Low awareness in developing countries is a major limiting factor for the polymer nanomembrane market growth.
China holds the major share in term of revenue in the Asia Pacific polymer nanomembrane market.
Increasing usage of polymer nanomembrane in pharmaceuticals to provide a lucrative growth opportunity in the polymer nanomembrane market.