Global gas separation membranes market is estimated to grow from USD 846 million to USD 1.3 billion during 2019–2025, growing at a CAGR of 6.1%.
Gas Separation Membranes Market: An Overview
The global gas separation membranes market promises robust growth, with a robust CAGR of 6.1% during 2019-2025 period. According to the latest ZMR study, the market is valued at $846 million in 2018. Based on the projections, the market will reach $1.3 bn by 2025 end. The rising demand for biogas in emerging nations like India, and China promise a major opportunity for growth for players in the global gas separation membranes market.
The market also faces challenges in expansion, as strict legislations regarding plasticization of polymeric membranes promises hurdles for future growth. However, the diversification of end-use applications, and new demand from applications such as wastewater treatment promises a promising outlook during 2019-2025 period. The gas separation membrane technology also promises growth in beverage & food processing, pharmaceutical, and chemical processing applications. Its energy and cost-efficient nature remains a major draw for end-players. Conventional technology like cryogenic distillation remains a distant competitor to its advancements, promising steady growth for market players.
Global Gas Separation Membranes Market: Key Trends
The rising prices of energy supplies, and instability in its supply remains a major driver of growth for players in the global gas separation membranes market. The membranes technology promises higher energy efficiency at much lower costs to end-players, amidst an uncertain geopolitical situation. Additionally, rising awareness, and legislations supporting environmental sustainability will also play a key role in growth of the global gas separation membranes market. The technology promises to lower expenditure for industries, with an added protection for the environment in the process. This has resulted in major growth for gas separation membranes in food & beverage processing, which will likely continue during the forecast period.
The food & beverage sector has witnessed tremendous growth in recent years, thanks to rising disposable income, changing lifestyle trends, and increase in exports from key countries like the United States. The technologies like adsorption, absorption, and cryogenic distillation lag behind in various benefits. However, the lack of implementation techniques continues to be an area of concern for future growth for players in the gas separation membranes market.
Global Gas Separation Membranes Market: Segmentation
The global gas separation membranes market report is segmented on the basis of material type into polymide & polyaramide, cellulose acetate, polysulfone, among others. Among these, the growing demand for polyimide will present new opportunities for growth during the forecast period. The gas separation membranes market is also segmented on the basis of applications into oxygen enrichment & nitrogen generation along with gas separation, air dehydration, hydrogen recovery, and carbon dioxide removal, vapor separation, among others. Among these, the air dehydration, and vapor separation removal promise keen opportunities, thanks to rising demand for chemical processing, and food processing.
Global Gas Separation Membranes Market: Regional Analysis
The global gas separation membranes market report will cover all key regions including North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. Among these, the rising manufacturing activity in Asia Pacific, and growing demand for chemical and food processing will create lucrative opportunities for growth. The region will likely register growth at the fastest CAGR during the forecast period.
Global Gas Separation Membranes Market: Competitive Analysis
The global gas separation membranes market remains a competitive, and fragmented landscape, thanks to relatively low costs of investments. Moreover, growing focus on innovation to meet advanced end-user needs will remain a key strategy for players in near future. Some key players in the market include Air Products and Chemicals, Inc., Air Liquide Advanced Separations, Ube Industries Ltd., Honeywell UOP.
The global gas separation membranes market is been segmented as follows:
Based on material type, as follows:
Based on module type:
Based on the application:
By region:
The global gas separation membranes market is valued at $846 mn in 2018.
The global gas separation membranes market will reach $1.3 bn by 2025 end.
According to ZMR prediction, the market will likely grow by 6.1% CAGR during 2019-2025 period.
Asia Pacific region will likely register strong growth, driven by the highest CAGR during the forecast period.
Some key players in the gas separation membranes market are Air Products and Chemicals, Inc., Air Liquide Advanced Separations, Ube Industries Ltd., Honeywell UOP.
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