Hollow fiber membranes are false membranes that contain a semi barrier microfiltration to remove contamination during the production process of dairy products, wine making, and beer production. Increasing research in biotechnology is gaining momentum over a few years. Hence, it is anticipated to surge the global hollow fiber membranes market in the upcoming years.
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New Membrane to Minimize Toxicity
With the emergence of new technologies in the global market, a new industrial plant with a new type of hollow fiber membrane is coined by Prof Neal Chung of National University at Singapore is likely to be set up. The new plant is expected to reduce the industrial liquid waste by 90%. This will reduce the toxicity and retain the precious metals from the treated liquid and will reuse them in future. The pilot plant may save 1.6 million cubic litres water per year. Some mergers and acquisition may take place in the coming years. Hence, the global hollow fiber market may witness an array of growth potential in the upcoming years.
Nitrogen Separation to Boost Growth
Compressed air is made to pass through hollow fiber membrane to separate nitrogen. In this new technology, the membrane is made of high performance polymide. This gives desired purity in nitrogen. This technological advancement was brought in by Evonic in 2018, which may raise the demand for hollow fiber membrane across the end users industries.
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Additionally, they are cost-effective and may result in rising demand. The manufacturing companies may expand their foothold in the global market by adopting various organic and inorganic strategies to meet ever-increasing demand. This, in turn, is expected to provide growth opportunities in the global hollow fiber membrane market in the near future.