COVID-19 IMPACT ANALYSIS ON FORWARD OSMOSIS TECHNOLOGY MARKET
The exclusive COVID-19 impact analysis report by Axiom MRC provides a 360 degree analysis of micro and macro-economic factors on the global forward osmosis technology market. In addition, complete analysis of changes on the global forward osmosis technology market expenditure, economic and international policies on supply and demand side. The report also studies the impact of the pandemic on global economies, international trade, business investments, GDP and marketing strategies of key players present in the market. Likewise, the COVID-19 virus spread has had a significant impact in forward osmosis technology market due to the disruptions in manufacturing and supply chain operations across the sector. In addition, the demand for water from various end-use sectors was reduced due to the lockdown restrictions across the globe.
MARKET OVERVIEW- GLOBAL FORWARD OSMOSIS TECHNOLOGY MARKET
MARKET DRIVERS
The rising populace across the globe, quick industrial development, and developing interest from several manufacturing sectors are some of the factors which are expected to fuel the interest in consumable water. Forward osmosis is the procedure of unconstrained water dissemination over a semi-penetrable forward assimilation film because of a distinction in solute fixations. For example, osmotic weights on either side of the semi-porous layer. The developments in the forward osmosis market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Furthermore, the technological advancement and ongoing research and development involved in manufacturing forward osmosis technology is expected to provide ample growth opportunity in the market.
MARKET OPPORTUNITY
An expanding populace, less accessibility to freshwater bodies, an increment in industries coming about an increase in water prerequisite, increment open mindfulness about water preservation and strict government laws on water treatment are different elements that are supporting the development of forward osmosis. Furthermore, the advancement and improvement of different materials for forward osmosis membranes is expected to provide new opportunities for the market.
MARKET RESTRAINT
The forward of osmosis technology market being advanced machines can significantly include investment and maintain costs and this factor is expected to acts as a hurdler for the market growth over the forecast period. Besides, a lack of a skilled workforce is another factor restraining the market growth.
CUMULATIVE GROWTH ANALYSIS
The report provides in-depth analysis of the global forward osmosis technology market, market size, and compound annual growth rate (CAGR) for the forecast period of 2022-2028, considering 2021 as the base year. With increasing demand in water treatment application, from food and beverage production to heavy industry has led the increasing demand for market and is expected to witness the growth at a CAGR at specific CAGR from 2021-2028.
FORWARD OSMOSIS MARKET SEGMENTAL OVERVIEW
The global forward osmosis market comprises of different market segment like membrane material, application and geography.
FORWARD OSMOSIS MARKET BY MEMBRANE MATERIAL
By membrane material, the forward osmosis includes key segment of
- Cellulose Acetate
- Polysulfone
- Polybenzimidazole
- Cellulose Triacetate
- Polysulfone is expected to dominate the market over the forecast period. The membrane can be fabricated from organic or inorganic materials. PSF is a family of high performance thermoplastics. These polymers are known for their toughness and stability at high temperatures. Polysulfone is an organic polymer widely used due to the chemical and thermal stability provided by the membrane. This membrane material is having rising demand in the market owing to different advantages like stability, high mechanical strength and ease of modification. Polysulfone membranes have been widely used for wastewater treatment. The modification of polysulfone membranes presents a great opportunity to improve their performance in the field of wastewater treatment.
FORWARD OSMOSIS MARKET BY APPLICATION
By application, the forward osmosis includes key segment of
- Fertigation
- Emergency water supply
- Highly saline waste
- Direct wastewater treatment
Fertigation is anticipated to lead the market gaining the majority of the market share in 2021 and is expected to maintain its dominance over the estimated time period. Fertilizer drawn forward osmosis is a promising process capable of simultaneously extracting fresh water from low-quality sources such as feed water such as wastewater or greywater. While diluting the fertilizer solution to direct fertilization, avoiding the demand for freshwater for irrigation. With high osmotic pressure, it is used as a draw solution to extract water from a saline water feed through a semipermeable membrane, making use of the osmotic pressure.
FORWARD OSMOSIS MARKET BY GEOGRAPHY
The global forward osmosis market is studied for the following region
- North America
- Europe
- Asia-Pacific
- Rest of the world (RoW)
North America is anticipated to witness increasing demand for forward osmosis technology owing to presence to well established market players. Currently, the United States is one of the largest water reclamation and reuse markets across the North America. With the growing demand for clean water in the country, municipal industry is likely to dominate the market. Municipal wastewater uses forward osmosis technology to treat wastewater before releasing it into environment to avoid damage to the environment and to avoid spreading of harmful diseases.
COMPETITIVE LANDSCAPE ANALYSIS
The competitive landscape analysis of forward osmosis technology market is majorly focused on expanding the global growth of forward osmosis technology with new product innovation, business expansion, increasing presence of range of manufacturer operating in forward osmosis has led the growing demand for the market. Besides, the market offers range of products in different application to fulfill the required demand of consumer which is further contributing healthy growth in the market.
THE KEY PLAYERS STUDIED IN MARKET ARE
- IDE Technologies Ltd.
- Koch Membrane Systems
- Sterlitech
- Aquaporin A/S
- Aromatec Pte Ltd
- BLUE-tec BV
- CNM Technologies
- Condorchem Envitech
- Darco Water Technologies Limited
- Fluid Technology Solutions, Inc
- Forward Water Technologies Corporation
- GreenPebble Technologies Pvt. Ltd.
- Lenntech USA LLC
- Osmotic Engineering Group
- Pure Water Enterprises Pvt. Ltd
- Trevi Systems
- Voltek Water
- Triqua International
