Rockville, MD , Dec. 19, 2024 (GLOBE NEWSWIRE) -- According to a revised industry research report published by Fact.MR, a market research and competitive intelligence provider, the global Gas Separation Membrane Market is analyzed to touch a value of US$ 986.4 million in 2024 and further increase at a notable CAGR of 7.4% from 2024 to 2034.
The growing demand for biogas is driving the market expansion of gas separation membranes. The anaerobic decomposition of organic materials in the absence of oxygen produces biogas, which is a mixture of methane, carbon dioxide, and insignificant amounts of other gases. The increasing demand for environment-friendly, sustainable energy sources is leading to an increase in the supply of biogas. Gas separation membranes are utilized in the production of biogas.
Methane is produced by crop deterioration and organic waste and is either burned as gas or transformed into power. A flexible energy source including biogas has the potential to meet the growing need for fuel, power, and heating.
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Key Takeaways from Market Study:
- The global market for gas separation membranes is projected to reach a valuation of US$ 2.01 billion by the end of 2034.
- The East Asia region is estimated to lead with a 25.8% worldwide market share in 2024.
- Demand for gas separation membrane systems in Japan is evaluated to expand at a CAGR of 7.6% from 2024 to 2034.
- The North American market is approximated to touch a value of US$ 447.1 million by 2034.
- In East Asia, China is analyzed to hold 48.2% of the revenue share in 2024.
- By material type, the polyimide & polyaramide segment is projected to increase at a 7.4% CAGR through 2034.
“Leading gas separation membrane market players are focusing on upholding supply chain management, partnerships, quality control, and product standards for new membrane techniques,” says a Fact.MR analyst
Leading Players Driving Innovation in the Gas Separation Membrane Market:
Key players in the gas separation membrane market are Honeywell International Inc., Evonik Industries, Mahler AGS, GRASYS JSC, Atlas Copco AB, DIC Corporation, Parker Hannifin Corporation, Toray Industries, Inc., Air Products and Chemicals Inc., Fujifilm Manufacturing Europe B.V, Evonik Industries, GMT Membrantechnik GmbH, UBE Industries Ltd.
Increasing Utilization in the Oil & Gas Industry:
The oil and gas sector uses gas separation membranes extensively because of how well and affordably they treat and purify gases. Natural gas is made more dependable for industrial use by using these membranes to remove impurities including carbon dioxide, hydrogen sulfide, and water vapor. They are essential in boosting operating efficiency because they recover valuable gases including hydrogen and methane.
Because they use less energy, need less maintenance, and are easily scalable, gas separation membranes are widely regarded as an attractive choice in light of the industry's growing emphasis on improving sustainability and cutting emissions.
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Gas Separation Membrane Industry News:
- Evonik announced the Sepuran Green G5X 11" biogas membrane in September 2024, which has the biggest capacity of its kind at the moment.
- In order to grow its business, Membrane Technology and Research, Inc. constructed the biggest membrane-based carbon capture facility in Gillette, Wyoming, in September 2023. With this growth, the business will be able to use Polaris polymeric membranes to absorb over 150 tons of CO2 per day.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the gas separation membrane market, presenting historical demand data (2019 to 2023) and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on material (polyimide & polyaramide, polysulfone, cellulose acetate), construction (hollow fiber modules, spiral wound modules, plate & frame modules), application (carbon dioxide removal, nitrogen generation & oxygen enrichment, hydrogen recovery, vapor/vapor), and end use (oil & gas, chemicals, electric power, food & beverage), across seven major regions of the world (North America, Western Europe, Eastern Europe, East Asia, Latin America, South Asia & Pacific, and MEA).
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