“The gas separation membranes market is projected to register a CAGR of 6.0%, in terms of value, between 2019 and 2024.”
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. The growth of this market is attributed to the increasing demand for carbon dioxide removal in emerging countries such as China, India, Indonesia, and South Korea. However, regulations related to plasticization of polymeric membranes are restraining the growth of the gas separation membranes market.
“Carbon dioxide removal application is estimated to be the largest segment of the gas separation membranes market.”
The carbon dioxide removal segment was the largest application of gas separation membranes in 2018. The reservoirs present in South East Asian countries and the increasing demand for shale gas in North America are driving the market for carbon dioxide removal application. Gas separation membranes are also used for various other applications such as nitrogen generation & oxygen enrichment, hydrogen recovery, vapor/gas separation, vapor/vapor separation, and air dehydration.
“APAC is projected to be the largest gas separation membranes market, in terms of value, during the forecast period.”
The APAC gas separation membranes market is projected to register the highest CAGR during the forecast period. This growth is driven mainly by the high demand for carbon dioxide removal from reservoirs, rising demand for sanitation and fresh water, increasing urbanization, and improving standard of living. High growth and innovation, along with industry consolidations, are expected to lead to the rapid growth of the market in APAC.
Breakdown of Profiles of Primary Interviews:
- By Company Type – Tier 1: 25%, Tier 2: 50%, and Tier 3: 25%
- By Designation - C Level: 35%, Director Level: 25%, and Others: 40%
- By Region - APAC: 30%, Europe: 25%, North America: 20%, South America-15%, and the Middle East & Africa-10%
The report profiles several leading players of the gas separation membranes market that 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 report also includes detailed information about various growth strategies adopted by these key players to strengthen their position in the gas separation membranes market.
- The report offers insights into the gas separation membranes market in the key regions. It aims at estimating the size of the gas separation membranes market during the forecast period and projects future growth of the market on the basis of material type, application, and region.
- The report also includes an in-depth competitive analysis of the key players in the gas separation membranes market along with their profiles, SWOT analysis, recent developments, and key market strategies.
Key Benefits of Buying the Report:
- The report will help leaders/new entrants in the gas separation membranes market by providing them with the closest approximations of revenues for the overall market and its various sub-segments.
- This report will help stakeholders obtain a better understanding of the competitive landscape and gain insights to enhance their businesses and devise suitable market strategies.
- The report will also help stakeholders understand the pulse of the market and help acquire information on key market drivers, restraints, challenges, and opportunities affecting the growth of the gas separation membranes market.