The global market for nanofiltration membranes is expected to grow to $445.1 million by 2019, with a five-year CAGR of 15.6 percent, reports the BCC Research.
Further, the water and wastewater treatment segment dominates the overall market with a 74.6-percent market share.
Nanofiltration is a membrane-based separation technology utilizing membranes that can retain nanoscale particles and molecules in water.
There are three major types of nanofiltration membranes namely polymeric, inorganic and hybrid.
This technology is finding increasing application across a broad range of industries, including water and wastewater treatment as well as solid waste management.
The water and wastewater treatment membranes represent by far the largest share of the market.
It is expected that this segment will reach $338 million by 2019 with a CAGR of 16.1 percent.
Revenues within this category are primarily driven by sales of nanofiltration membranes for water softening, desalination and wastewater treatment.
The market diffusion of these products depend on following factors like rising demand for potable water, reduced freshwater sources, environmental restrictions on wastewater discharges, and lower operating costs.
Membrane-based separation technologies represent more cost-effective, low-maintenance, easy-to-operate and energy-saving processes, said, Margareth Gagliardi, nanotechnology analyst, BCC Research.