According to the new market research report “Gas Separation Membranes Market by Material type (Polyimide & Polyaramide, Polysulfone, and Cellulose Acetate), Application (Nitrogen Generation & Oxygen Enrichment, Carbon Dioxide Removal, and Hydrogen Recovery), and Region – Global Forecast to 2024″, The gas separation membranes market is projected to grow from USD 846 million in 2019 to USD 1.1 billion by 2024, at a CAGR of 6.0%.
There is an increase in the demand for gas separation membranes for carbon dioxide removal application. The presence of a large number of reservoirs in South East Asian countries and the increasing demand for shale gas in North America are driving the gas separation membranes market. Gas separation membranes are cost-efficient and easy to operate. Stringent regulations regarding plasticization of polymeric membranes are, however, restraining the growth of the gas separation membranes market.
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The gas separation membranes market size is estimated at USD 846 million in 2019 and is projected to reach USD 1.1 billion by 2024, at a CAGR of 6.0%. One of the major restraints of the gas separation membranes market is the regulations on the plasticization of polymeric membranes. Plasticization changes the structure of membranes, resulting in their low selectivity and performance. This issue is mostly experienced in the natural gas sweetening application, which is one of the fastest-growing users of membrane-based gas separation technology.
Innovation and technology advancements in gas separation membranes have led to various improvements in gas separation membranes in terms of good selectivity, permeability, high chemical and thermal stability, and good film forming properties. Recently, mixed matrix gas separation membranes are being developed. The mixed matrix membranes are considered to be new generation membranes for gas purification application. These membranes have unique properties of both polymer and inorganic membranes. Mixed matrix membranes have high selectivity of the dispersed filler, desirable mechanical property, and economical processability of polymers.
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The gas separation membranes market size is estimated at USD 846 million in 2019 and is projected to reach USD 1.1 billion by 2024, at a CAGR of 6.0%.
The increasing demand for biogas and renewable energy in developing countries such as India and China, along with the cost-effectiveness of membrane separation technology are expected to drive the demand for gas separation membranes during the forecast period. The key players in the gas separation membranes market include Air Products and Chemicals, Inc. (US), Air Liquide Advanced Separations (France), Ube Industries Ltd. (Japan), Honeywell UOP (US), Fujifilm Manufacturing Europe B.V. (Netherlands), Schlumberger Ltd. (US), DIC Corporation (Japan), Parker Hannifin Corporation (US), Membrane Technology and Research, Inc. (US), and Generon IGS, Inc.(US). The gas separation membranes market report analyzes the key growth strategies, such as expansion, investment, new product launch, joint venture, and acquisition, adopted by the leading market players between 2017 and 2019.
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Air Liquide Advanced Separations (France) is one of the key players in the gas separation membranes market. The company has adopted the strategy of investment to strengthen its competitiveness in the global gas separation membranes market. For instance, in February 2018, Air Liquide Advanced Separations invested USD 170 million for the construction of Air Separation Unit (ASU) in Secunda with a production capacity of 5,000 tonnes of oxygen per day. This investment will enable the company to supply liquid gases to the growing industrial gas market in South Africa.
Air Products and Chemicals Inc. (US) is one of the leading manufacturers of gas separation membranes; the company adopted expansion as one of its key business strategies. For example, in October 2018, the company announced plans to build and operate two air separation units in Tennessee. This expansion will provide oxygen and nitrogen to Eastman’s facility in Kingsport, Tennessee, and will extend the company’s relationship with Eastman
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