The latest market report published by Credence Research, Inc. “Gas Separation Membranes Market — Growth, Future Prospects, and Competitive Analysis, 2016–2024,” the global gas separation membranes market was valued at US$ 1,720.4 Mn in 2015, and is expected to reach US$ 3,325.2 Mn by 2024, expanding at a CAGR of 8.2% from 2016 to 2024.

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Market Insights

The global gas separation membranes market is experiencing growth due to the rise in demand from various end-use applications. As energy costs rise, gas separation membrane technology is likely to play an increasingly important role in reducing the environmental impact and costs of industrial processes. Gas separations membranes are widely used in food & beverage processing, water & wastewater treatment, pharmaceutical & medical application, chemical processing, industrial gas processing, and other applications.

Moreover, Compared to the conventional separation technologies such as cryogenic distillation, absorption, and adsorption, industrial attention is now focused on the adoption of membrane-based gas separation. This is due to inherent advantages offered by gas separation membranes such as energy efficiency with low capital investment, simplicity and ease of installation, low operation and maintenance cost, low weight, and space requirement with high process flexibility.

The major challenge hampering the growth of the market is problems associated with the lifespan of membranes as after a certain period, the durability of membranes decreases, resulting in a need for replacement, therefore associated increased operational and maintenance costs. Increasing concerns over water scarcity and the need for desalination in the developing countries offer growth opportunities to the gas separation membranes in water and water treatment market.

Competitive Insights

Major players in the membrane system providers such as Air Liquid (PoroGen Corporation), Air Products and Chemicals Incorporated, Evonik Resource Efficiency GmbH, GE Water & Process Technologies, etc. are original equipment manufacturers (OEMs) of gas separation membranes. Distributors, EPC contractors, and company-owned sales offices are major sales & distribution paths for gas separation membranes and gas separation systems. All large players are increasing their footprint in emerging economies by opening regional sales offices cater to the increasing demand from various end-use applications.

Key Trends

Rising demand from end-use applications
Shifting trend towards membrane gas separation technology
Emerging economies offers huge market potential

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List of Companies Covered:

Air Products and Chemicals Incorporated
Air Liquide S.A.
Asahi Kasei Corporation
Atlas Copco AB
Dalian Puricle Co., Ltd.
Evonik Resource Efficiency GmbH (Evonik Industries AG)
FUJIFILM Corporation
GE Water & Process Technologies
GENERON
Genrich Membranes Pvt. Ltd.
GMT Membrantechnik GmbH
Grasys JSC
Membrana GmbH (3M Company)
Membrane Technology and Research, Inc.
Mitsui Chemicals, Inc.
NOXERIOR S.r.l.
Pacific Consolidated Industries
Pall Corporation
Parker Hannifin Corp.
Schlumberger Limited
Sigma-Aldrich Co. LLC. ( Merck Group)
Teijin Pharma Limited
The Dow Chemical Company
Ube Industries, Ltd.
UOP LLC.

Market Segmentation:

By Type

Polymeric Membranes
NonPolymeric Membranes

By Application Type

Pharmaceuticals & Medical Use
Water & Waste Treatment
Industrial Gas Processing
Chemical Processing
Food & Beverage Processing
Others

By Geography Segment Type

North America (the U.S., Rest of North America)
Europe (U.K., Germany, France, Rest of Europe)
Asia Pacific (China, Japan, India, Rest of Asia Pacific)
Rest of the World (the Middle East & Africa, Latin America)

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Medium Blog: https://medium.com/@kumarganeshtr/gas-separation-membranes-market-is-expected-to-reach-us-3-325-2-mn-by-2024-credence-research-a5a53dc96680