Gas Separation Membrane Market, by Product Type (Polyimide & Polyaramide, Polysulfone, Cellulose Acetate, and Others), by Module (Hollow Fiber, Spiral Wound, Plate and Frame, and Others), by Application (Nitrogen Generation & Oxygen Enrichment, Hydrogen Recovery, Carbon Dioxide Removal, Vapor/gas Separation, Vapor/vapor Separation, Air Dehydration, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2021 - 2028

Published In : Jun 2021

Code : CMI4476

Pages :176

Formats :

Excel and PDF

Industry : Medical Devices

Gas Separation Membrane MarketSize and Trends

The global gas separation membrane market is estimated to be valued at US$ 972.1 Mn in 2021, and is expected to exhibit a CAGR of 5.3% over the forecast period (2021-2028).

Figure 1: Global Gas Separation Membrane Market Share (%) Analysis, By Application, 2021

The increasing demand for carbon dioxide removal is the major factor that is expected to drive the market growth over the forecast period.

Rising carbon footprint across the globe due to industrial activities has led to stringent regulations on carbon emission, which increases the need for carbon dioxide removal techniques, this is expected to drive the growth of gas separation membrane market over the forecast period. According to the Environmental Protection Agency (EPA), 23% of the total greenhouse gas emission in 2019 was contributed by industries across the globe.

Increasing demand of biogas production and government initiatives to promote biogas production leads to a positive impact on global gas separation membrane market worldwide. For instance, according to the World Biogas Association (WBA) report 2019, Finland government provides tax exemption to Biogas plants for production of biomethane under their Renewable Energy Development Act.

Moreover, increasing number of research and development activities for improving the efficacy of gas separation membranes is expected to aid in the growth of global gas separation membrane market over the forecast period. For instance, in October 2017, Evonik, a German chemicals company obtained a patent for a newly improved three-step membrane process that eliminates additional purification step and generates high yield of gas at a lower energy consumption level.

The rising focus of market players on mergers and acquisitions is expected to further grow the gas separation membrane market over the forecast period. For instance, in 2018, Honeywell, an American conglomerate company acquired Ortloff Engineers, Ltd., an American oil and energy company, to increase business in the gas separation membrane market sector.

Figure 2: Global Gas Separation Membrane Market Value (US$ 228.44 Mn), by Region, 2021

Global Gas Separation Membrane Market, By Region