Gas Separation Membranes Market worth $1.1 billion by 2024 : Air Products, Air Liquide, Ube Industries, Honeywell, Fujifilm, Schlumberger, DIC Corporation, Parker Hannifin Corporation, Membrane Technology and Generon are Major Players

The report "Gas Separation Membranes Market by Material type (Polyimide & Polyaramide, Polysulfone, and Cellulose Acetate), Application (Nitrogen Generation & Oxygen Enrichment, Carbon Dioxide Removal, and Hydrogen Recovery), and Region - Global Forecast to 2024" The gas separation membranes market is projected to grow from USD 846 million in 2019 to USD 1.1 billion by 2024, at a CAGR of 6.0%. There is an increase in the demand for gas separation membranes for carbon dioxide removal application. The presence of a large number of reservoirs in South East Asian countries and the increasing demand for shale gas in North America are driving the gas separation membranes market. Gas separation membranes are cost-efficient and easy to operate. Stringent regulations regarding plasticization of polymeric membranes are, however, restraining the growth of the gas separation membranes market.

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The polyimide & polyaramide segment is estimated to account for the largest share of the overall gas separation membranes market.
Polyimide & polyaramide material segment is the most widely used gas separation membrane. The market for this segment is also projected to register the highest growth during the forecast period. These membranes have high demand in gas separation processes owing to their superior permeability and stability. These membranes have good chemical and thermal stability and are stable without compaction up to 400℃.

The vapor/vapor separation segment is the fastest-growing application of gas separation membranes.
The gas separation membranes market in the vapor/vapor separation application is projected to witness the highest growth during the forecast period. Increasing refining activities are driving the market for gas separation membranes market in vapor/vapor application segment. In this segment, gas separation membranes are used for vinyl chloride recovery from PVC manufacturing, vapor recovery during tank & drum filling, and hydrochlorofluorocarbons recovery from film drying process.

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APAC is estimated to lead the global gas separation membranes market in 2018.
APAC is estimated to be the largest gas separation membranes market owing to the high consumption in carbon dioxide removal application. The region is witnessing high economic growth rate, rising demand for sanitation and fresh water, increasing urbanization, and growing standard of living. China, India, Indonesia, and South Korea are some of the key gas separation membranes markets. Government policies on manufacturing, emission control, and producing environment-friendly products are all contributing to innovations in gas separation membranes. Moreover, growing technological advancements in various applications, such as carbon dioxide removal and hydrogen recovery of gas separation membranes, are further driving the market in this region.

The key players in the gas separation membranes market 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). These players have established a strong foothold in the market by adopting strategies such as expansion, new product launch, investments, joint venture, and acquisition.

Recent Developments:
• In December 2018, Air Products and Chemicals announced plans to build a new large scale gas separation unit to produce liquid oxygen, nitrogen, and argon. This new air separation unit will be on-stream by early-to-mid-2020 in the twin cities area of Minnesota. This expansion will provide reliable liquid industrial gas options for local customers and distributors in the region
• In September 2018, Honeywell acquired Ortloff Engineers, Ltd., (US), which is a leading developer of specialized technologies for natural gas processing and sulfur recovery. This acquisition will help the company to expand its capabilities to maximize customer returns on gas processing and oil refining investments.
• In February 2018, Air Liquide Advanced Separations invested USD 170 million for the construction of Air Separation Unit (ASU) in Secunda with a production capacity of 5,000 tonnes of oxygen per day. This investment will enable the company to supply liquid gases to the growing industrial gas market in South Africa.

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Contact:

Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
newsletter@marketsandmarkets.com

About MarketsandMarkets

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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