Global Market for Membrane Bioreactors to Reach $3.8 Billion by 2023
Growth Attributed to Water Quality Crisis
WELLESLEY, Mass., February 20, 2019 (Newswire.com) - The quality of the planet’s water supply deteriorates ever year, affecting individuals, families, businesses and entire populations. Membrane bioreactors (MBRs) are a viable solution to this problem, as they remove pathogenic organisms from the water using a physical barrier that is unaffected by quality. The effectiveness of this process has created growth in the global market for MBRs. Consequently, the market is expected to more than double over the next five years, according to a new report by BCC Research.
In 2018, the global market for membrane bioreactors was worth $1.9 billion. A new report, “Membrane Bioreactors: Global Markets,” estimates that it will reach a value of $3.8 billion by 2023, indicating a compound annual growth rate (CAGR) of 14.7%.
- MBR Market segment predictions. For example, MBRs used for treating municipal and domestic sewage account for the bulk of the global market. Valued at nearly $1.3 billion in 2017, these applications will remain the largest market for MBRs, increasing at a CAGR of 14.0% to almost $2.8 billion by 2023.
- MBR Application predictions. For example, industrial applications such as food processing and chemicals, a market worth an estimated $350 million in 2017, will see global growth of 16.9% during the forecast period.
- MBR global market predictions. For example, the Asia-Pacific region is the largest market for MBRs, accounting for 39.2% of the global market in 2017, increasing to 47.9% by 2023.
“The need for pure water is a problem of global proportions,” said report author Andrew McWilliams. “With each passing year, the quality of the planet’s water measurably deteriorates, presenting challenges for major users: the municipal, industrial, and environmental sectors. Water treatment has become an area of global concern as individuals, communities, industries, countries and their national institutions strive for ways to keep this essential resource available and suitable for use.”
Drivers of the Membrane Bioreactor Market
There are several reasons why the MBR market has achieved a significant amount of success over the past few years. For example, MRBs require minimal operation attention, reduces or eliminates the need for disinfection, has modular construction, rears high retrofit potential, processes intensification benefits and has a long service life (membranes have a 5- to 10-year life).
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Source: BCC Research
Categories: Water, Sewage, and Septic Systems