Global Gas Separation Membranes Market to Reach $1 Billion by 2024
SAN FRANCISCO, Aug. 11, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Gas Separation Membranes - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 9; Released: May 2021
Executive Pool: 4511
Companies: 41 - Players covered include Air Liquide SA; Air Products and Chemicals, Inc.; DIC Corporation; Evonik Industries AG; FUJIFILM Manufacturing Europe B.V.; GENERON IGS, Inc.; Honeywell UOP; Membrane Technology and Research, Inc.; Parker-Hannifin Corporation; Schlumberger Ltd.; Ube Industries, Ltd. and Others.
Coverage: All major geographies and key segments
Segments: Material Type (Polyimide & Polyaramide, Polysulfone, Cellulose Acetate, and Other Material Types); Application (Carbon Dioxide Removal, Nitrogen Generation & Oxygen Enrichment, Hydrogen Recovery, Vapor/Vapor Separation, and Other Applications); End-Use (Oil & Gas, Chemical, Electric Power, Food & Beverage, and Other End-Uses)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.
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ABSTRACT-
Global Gas Separation Membranes Market to Reach $1 Billion by 2024
Gas separation membranes are deigned to provide an inter-phase between two phases that acts as a selective barrier to regulate permeation of a specific gas or gases from a gas mixture. These membranes separate gas mixtures by providing a permeable barrier that allows compounds to move through at specific rates. The penetration of gas molecules across the membrane depends on their size, solubility or diffusivity. Gas separation membranes are widely used to separate O2/N2, hydrogen, CO2/CH4, helium and CO2/N2, allowing separation as well as collection of various greenhouse gases responsible for global warming. The approach is also being investigated for perfluoro compounds such as SF6 and C2F6. The eco-friendly and energy-saving nature of the technology makes it an attractive option for industry participants. Gas separation is effectively achieved using synthetic membranes made of polymers including cellulose acetate or polyamide, or ceramic materials. While polymer-based membranes are technologically viable and economical, they are known for their performance limit, represented by the Robeson limit, which indicates tradeoff between permeability and selectivity. The limit affects the ability of polymeric membranes to efficiently separate CO2 from flue gases, while low permeability makes the process expensive.
The issue has prompted industry participants to focus on other membrane materials such as zeolites, silica, perovskites and metal-organic frameworks owing to their superior chemical and thermal stability and high tunability, which results in higher selectivity and permeability. Advanced gas separation membranes offered by various companies can be used on land, sea and air. Membranes used on land offer purified natural gas, hydrogen, nitrogen and bio-methane, while membranes for sea applications allow on-site fuel generation, natural gas purification and nitrogen blanketing. Gas separation membranes for air improve security by making fuel tanks inert for military and commercial aircrafts. Polymeric gas separation membranes remain highly popular due to their superior selectivity and performance. In the recent years, various companies have launched innovative membranes that are built on polyimides and poly ether ketones. While the former exhibit excellent selectivity, the latter membranes offer high purity feed gases from different contaminants.
Amid the COVID-19 crisis, the global market for Gas Separation Membranes is projected to reach US$1 Billion by 2024, registering a compounded annual growth rate (CAGR) of 6.7% over the analysis period. Europe represents the largest regional market for Gas Separation Membranes, accounting for an estimated 21.0% share of the global total. The market is projected to reach US$216.9 Million by the close of the analysis period. China is expected to spearhead growth and emerge as the fastest growing regional market with a CAGR of 9.9% over the analysis period.
Rising environmental concerns and energy costs associated with conventional separation technologies such as distillation are expected to drive companies to focus on innovative solutions to cut emissions and costs. The trend is driving the adoption of gas separation membranes in various applications. The technology holds potential to replace or complement standard technology. The gas separation membranes market is anticipated to also gain from increasing adoption of new solutions within the petrochemical industry. Sophisticated membrane solutions intended to purify olefins from corresponding paraffins are expected to reduce capital expenditures, energy costs and carbon emissions. These platforms are likely to help companies in recovering olefins from waste streams and tapping new product opportunities. In the coming years, the technology is anticipated to evolve further and find use across a comprehensive range of industrial applications.
The market is anticipated to receive a notable impetus from increasing adoption of the technology across an extensive spectrum of industries coupled with rising biogas production. Gas separation membranes, mainly synthetic membranes, are broadly employed for separating gases from gas mixtures. Made of different polymers including cellulose acetate and polyamide, these membranes find use in carbon dioxide removal, hydrogen recovery, oxygen enrichment and nitrogen generation applications. Based on their desirable properties such as high stability, durability, porosity, selectivity and permeability, these membranes make indispensable part of several industrial applications. Gas separation membranes present an effective solution for companies to produce high purity stream gases to offer quality products and achieve an edge over competitors. These membranes are commonly used in water & wastewater treatment, food & beverage processing, medical and pharmaceutical application, industrial gas processing, and chemical processing. The global gas separation membrane market is gaining from rising concerns regarding increasing carbon emissions and the resulting global warming, driving the use of these membranes for carbon dioxide (CO2) removal.
Stringent regulations related to greenhouse gas emissions and increasing demand from natural gas treatment, hydrocarbon separation, hydrogen purification and carbon dioxide captures are stimulating the market growth. Increasing biogas production across developing countries, particularly in Asia and Latin America, along with cost-efficiency of the technique is further favoring the market growth. The presence of numerous reservoirs across South East Asian nations and rising production of shale gas across North America are set to fuel global demand for gas separation membranes. The technology is widely employed in the oil & gas and chemical industries to remove volatile organic compounds from the waste stream, natural gas dehydration, and separation of air into nitrogen and oxygen. In addition, consumer demand for green, organic fuels is benefitting the technology. The demand for gas separation membrane technology is also attributed to its various benefits over traditional methods such as adsorbent bed and cryogenic distillation processes in terms of energy usage, capital/operating cost, and ease of operation. With rising energy costs, gas separation membrane technology is bound to hold increasing significance owing to its positive role in reducing costs and environmental impact of industrial processes. More
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