Hyderabad, Aug. 07, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Gas Separation Membrane Market Report (2023-2028)," the market is estimated at USD 1.86 billion in 2023. It is expected to register a CAGR of 5.87% during the forecast period.
Gas separation membranes are utilized to separate gases based on their chemical properties, with widespread use in industrial processes to purify gases like nitrogen and oxygen. The demand for membranes in carbon dioxide separation and strict emissions regulations are major factors pushing the market forward. The development of mixed matrix and polymeric membranes and expanding applications are expected to present more opportunities for the market in the coming years.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 1.86 billion |
| Market Size (2028) | USD 2.47 billion |
| CAGR (2023-2028) | 5.87% |
| Study Period | 2018-2028 |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | Increasing demand for natural gas. |
| Need for energy-efficient procedures. |
Who are the Top Companies in the Global Gas Separation Membrane Market?
The market is partially consolidated in nature, with a few major players dominating a significant portion of the market. The significant players in the global gas separation membrane market are,
- Air Liquide Advanced Separations
- Air Products and Chemicals Inc.
- DIC Corporation
- Evonik Industries AG
- Fujifilm Corporation
- Generon
- Honeywell International Inc.
- Linde PLC
- Membrane Technology and Research Inc.
- Parker Hannifin Corp.
- SLB (Schlumberger)
- Toray Industries Inc.
- UBE Corporation
Other Reports That Might Be of Your Interest:
- Europe Air Separation Unit Market Report - The European air separation unit market is expected to register a CAGR of 3% over the next five years.
- Middle East & Africa Expansion Vessel Membrane Market Report - The expansion vessel membrane market in the Middle East & Africa region is projected to register a CAGR of over 5% over the next five years.
Key Highlights from the Global Gas Separation Membrane Market Report:
Nitrogen Generation and Oxygen Enrichment Applications
- Gas separation membrane modules are used in the chemical industry for nitrogen generation and oxygen enrichment in various applications. The demand for oxygen and nitrogen is high in the industrial sector, particularly in steel production, with gas separation modules being crucial for plant operations.
- Membrane gas separation finds use in various industries, such as aviation for safer fuel tank filling, ammonia production through the Haber process, and steel production, where oxygen is vital.
- The growing crude steel production globally is driving the demand for gas separation. The medical sector, including oxygen concentrators, has also experienced increased demand.
Rapid Growth in Asia-Pacific led by India, China, and Japan
- The Asia-Pacific region is anticipated to be the largest and fastest-growing market for gas separation membranes due to increasing industrialization in the region.
- Factors such as carbon dioxide removal, sanitation needs, freshwater demand, urbanization, and improved living standards are contributing to the growth of the market. The use of gas separation membranes to control CO2 emissions from industrial effluents is increasing, driven by government regulations in the region.
- China is projected to have 20 million barrels of refining capacity by 2025, leading to a rising requirement for gas separation membranes. India's power industry is expanding with a focus on renewable energy. The region's growing natural gas production is likely to boost demand for gas separation membranes in acid gas separation processes.
What are the Latest Developments in the Global Gas Separation Membrane Market?
- In January 2023, UBE Corporation expanded its polyimide hollow fiber production facilities for gas separation membranes at its Ube Chemical Factory and the gas separation membrane module production facilities at its Sakai Factory to meet the rapidly growing demand for CO2 separation membranes.
- In January 2022, Toray Industries Inc. developed a polymeric separation membrane module that can selectively and efficiently permeate hydrogen from mixed gases that contain hydrogen.
Mordor Intelligence has Segmented the Global Gas Separation Membrane Market Based on Material Type, Application, and Geography.
- By Material Type (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Polyimide and Polyamide
- Polysulfone
- Cellulose Acetate
- Other Material Types
- By Application (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Nitrogen Generation and Oxygen Enrichment
- Hydrogen Recovery
- Carbon Dioxide Removal
- Removal of Hydrogen Sulphide
- Other Applications
- By Geography (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- United Kingdom
- Italy
- France
- Rest of Europe
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- Asia-Pacific
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Global Gas Separation Membrane Market Report (2023-2028).
Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:
- Reverse Osmosis Membrane Market Report - The market for reverse osmosis (RO) membranes is expected to grow at a CAGR of over 10% globally over the next five years.
- Europe Single-ply Membrane Market Report - The European single-ply membrane market is estimated to be USD 355.77 million in 2023. It is forecasted to register a CAGR of 5.84% over the next five years.
- Waterproofing Membrane Market Report - The waterproofing membrane market is expected to register a CAGR of over 8% over the next five years.
About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
Attachment
