Global 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), 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).
Rise in the atmospheric concentration of greenhouse gases has stimulated the global attention towards creating strategies to reduce carbon emissions, which has led to an increase in demand of efficient carbon dioxide removal techniques, this is expected to propel the market growth of global gas separation membrane over the forecast period. For instance, according to the International Environmental Agency (IEA), in December 2020, the global carbon dioxide emissions was 60 million tons higher than that of December 2019.
Increasing consumption of natural gas production is anticipated to drive growth of the global gas separation membrane market. For instance, according to the International Energy Agency (IEA), the global consumption rate of natural gas is expected to increase by at least 110 billion cubic meters in 2020.
Global Gas Separation Membrane Market - Impact of Coronavirus (COVID – 19) Pandemic
COVID-19 outbreak was first reported on December 31, 2019 in Wuhan, China. According to the coronavirus (COVID-19) weekly epidemiological update by the World Health Organization, over 169 million cases and 3.5 million deaths due to coronavirus (COVID-19) disease were reported up till May 30, 2021 across the globe.
The COVID-19 pandemic has affected several markets across the globe and is also expected to hamper the demand and supply in global gas separation membrane market. The COVID-19 pandemic has affected the demand and supply of gas separation membrane market in three main ways; by directly affecting the production and demand; by creating disruptions in distribution channels; and by its financial impact on firms and financial markets. Supply chain and manufacturing activities of gas separation membranes in India, China, and the U.S. are disrupted due to nationwide lockdowns. Whereas, countries such as Saudi Arabia, UAE, Egypt, and others are facing problems with regards to transportation of material from one place to another.
Browse 28 Market Data Tables and 19 Figures spread through 176 Pages and in-depth TOC on Global 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)
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Moreover, market players are actively involved in market strategies such as mergers and acquisitions, which is expected to drive the global gas separation membrane market growth. For instance, on May 25, 2021, Atlas Copco, a Swedish industrial company, acquired Medigas Service & Testing Co. Inc., a New York based medical gas equipment manufacturer to expand its business in healthcare industry.
Key Takeaways of the Global Gas Separation Membrane Market:
- The global gas separation membrane market is expected to exhibit a CAGR of 5.3% over the forecast period (2021-2028), owing to growth in potential markets, especially in Asia Pacific region. For instance, according to the International Energy Agency (IEA), the total consumption of biogas across Asia Pacific region amounted to over 850 billion cubic meters in 2020.
- Some of the major 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.
