SEATTLE, June 24, 2021 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global gas separation membrane market is estimated to be valued at US$ 972.1 million in 2021 and is expected to exhibit a CAGR of 5.3% during the forecast period (2021-2028).
Key Trends and Analysis of the Global Gas Separation Membrane Market:
Key trends in the market include increasing demand of carbon dioxide separation techniques, rising production and demand of natural gas, increasing product launches, increasing research and development activities, inorganic activities such as acquisitions and collaborations.
Rising amount of carbon dioxide on Earth has alarmed environmentalists all over the world to take actions for reducing global carbon emissions, which has led to an increase in the demand of carbon dioxide removal techniques as environment policies have become stringent in order to regulate carbon footprint on the planet. This is anticipated to propel the growth of global gas separation membrane market. According to the Carbon Dioxide Information Analysis Centre (CDIAC), the global CO2 emission was 36.44 billion ton in 2019. Moreover, in February, 2021, U.S. rejoined the Paris Agreement which is a milestone step towards combating climate change by reducing carbon emission. Almost 197 countries are a part of the Paris agreement with a common goal of achieving zero net carbon emission by 2050.
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Growth in natural gas production is expected to fuel the market growth of global gas separation membrane market over the forecast period. For instance, in February 2020, the UAE government revealed new natural gas reserve discovery near Abu Dhabi possessing approximately 80 trillion cubic feet of natural gas, which will enable higher production of natural gas in the nation.
Increasing number of research and development activities for improving the effectiveness of gas separation using membrane is expected to fuel growth of the gas separation membrane market For instance, in December 2018, Air Products and Chemicals, an American gas and chemical manufacturer, announced about setting up a new gas separation unit in Minnesota, U.S. for production of liquid nitrogen and oxygen at a large scale.
The increasing number of product launch is expected to drive growth of the market over the forecast period. For instance, in 2019, Atlas Copco AB, a Swedish industrial company launched three low-flow, compact, low-cost membrane nitrogen generators.
The rising focus of market players in inorganic market strategies such as partnerships and acquisitions is expected to drive the growth of the global gas separation membrane market over the forecast period. For instance, on May 31, 2021, Atlas Copco announced plans to acquire Germany based Arpuma by the end of second quarter in 2021. This move would help Atlas Copco to expand its product portfolio into the field of chemical and pharmaceutical industry.
However, plasticization of gas separation membranes and costly production of metallic membranes is expected to hamper the growth of the market. According to the Royal Society of Chemistry, U.K., plasticization decreases the lifespan of membrane and also reduces the efficiency of gas separation.
Key Market Takeaways:
Rising product launches, increasing research and development activities, inorganic activities such as acquisitions, partnerships, and mergers & collaborations are expected to drive growth of the global gas separation membrane market over the forecast period. For instance, in June 2018, Evonik, a chemical company, and Linde, a technology company, signed up a partnership agreement to promote advanced HISELECT membranes for gas separation.
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Competitive Landscape:
Key players operating in the global gas separation membrane market include Fujifilm Manufacturing Europe B.V., Air Products and Chemicals, Inc., Honeywell UOP, Air Liquide Advanced Separations, Schlumberger Ltd., DIC Corporation, Ube Industries Ltd., Parker Hannifin Corporation, Membrane Technology and Research Inc., and Generon.
Market Segmentation:
- Global Gas Separation Membrane Market, By Product Type:
- Polyimide & polyaramide
- Polysulfone
- Cellulose acetate
- Others
- Global Gas Separation Membrane Market, By Module:
- Hollow Fiber
- Spiral Wound
- Plate and Frame
- Others
- Global Gas Separation Membrane Market, By Application:
- Nitrogen generation & oxygen enrichment
- Hydrogen recovery
- Carbon dioxide removal
- Vapor/gas separation
- Vapor/vapor separation
- Air dehydration
- Others
- Global Gas Separation Membrane Market, By End User:
- Pharmaceutical Industry
- Food and Beverage Industry
- Others
- Global Gas Separation Membrane Market, By Region:
- North America
- By Country:
- U.S.
- Canada
- By Country:
- Latin America
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country:
- Europe
- By Country:
- U.K.
- Germany
- Italy
- Spain
- France
- Russia
- Rest of Europe
- By Country:
- Asia Pacific
- By Country:
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Country:
- Middle East
- By Country:
- GCC
- Israel
- Rest of Middle East
- By Country:
- Africa
- By Country/Region:
- South Africa
- Central Africa
- North Africa
- By Country/Region:
- North America
Related Market Intelligence Reports:
Membrane Separation Market, By Technology (Microfiltration, Ultrafiltration, Nanofiltration, Reverse osmosis), By Application (Water & Wastewater, Industrial, Healthcare, Others), and By Region (North America, Europe, Asia Pacific, Rest of the World) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027
Read more: https://www.coherentmarketinsights.com/market-insight/membrane-separation-market-3886
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