Press release
Gas Separation Membranes Market Industry Leaders & New Revenue Pockets
New product launches, mergers, joint ventures, acquisitions, expansions, agreements, and collaborations are the key strategies adopted by industry players to achieve growth in the gas separation membranes market. Increasing industrial developments, technological advancements, and demand for gas processing have led to the high demand for gas separation membranes from various applications. Companies, therefore, focus on new product launches, expansions, mergers & acquisitions, and agreements. Ube Industries Ltd. (Japan), Air Liquide Advanced Separation LLC (US), Air Products and Chemicals, Inc. (US), Generon IGS, Inc. (US), and Honeywell UOP LLC (US) are some of the key players who have adopted these strategies to develop their businesses, globally. These strategies also accounted for a significant share of the overall growth strategies adopted by the players in the gas separation membranes market between 2012 and 2017.Download PDF Brochure of this Report at http://www.marketsandmarkets.com/pdfdownload.asp?id=50564392
Browse 62 Market Data Tables and 37 Figures spread through 122 Pages and in-depth TOC on "Gas Separation Membranes Market"
Air Liquide Advanced Separation LLC is a major manufacturer and leading player in the global gas separation membranes market. The company aims to expand its market share and become one of the most innovative companies in the world. As part of its growth strategy, in 2015, the company acquired PoroGen Corporation (US), which is a leading polymeric membrane manufacturer for industries, such as oil & gas, refining & petrochemicals, energy & power, and aerospace. This acquisition enhanced the company’s product portfolio and market presence.
Air Products and Chemicals, Inc. is one of the largest gas separation membranes manufacturers in the US. As part of its business strategy, the company focuses on new product development and research. In 2016, the company launched two new products under the brand name PRISM, for biogas separation. The company also launched a new polymeric hollow fiber membrane for biogas application to target European market in 2015. These developments strengthened the company’s product portfolio.
Ube Industries Ltd. (Japan), Air Liquide Advanced Separation LLC (US), Air Products and Chemicals, Inc. (US), Generon IGS, Inc. (US), and Honeywell UOP LLC (US) are the most active players in the global gas separation membranes market.
Gas separation membranes find increasing acceptance in various applications, such as nitrogen generation & oxygen enrichment, hydrogen recovery, carbon dioxide removal, vapor/gas separation, vapor/vapor separation, air dehydration, and others. The growth of the gas separation membranes market is expected to be fueled by the rising demand from applications due to increasing adoptability of the membrane technology over conventional technologies.
This report segments the gas separation membranes market based on material, application, and region. The gas separation membranes market is projected to grow at a CAGR of 7.2% from 2017 to 2022, in terms of value. The demand for gas separation membranes is increasing due to their cost effective and energy efficient characteristics over other technologies, such as cryogenic and adsorption.
Based on material, the polyimide & polyaramide segment is estimated to account for the largest market share in 2017. Polyimide & polyaramide are preferred in a wide range of applications, such as hydrogen recovery, carbon dioxide removal, and oxygen enrichment, due to their high selectivity and excellent thermal & chemical resistant properties.
The carbon dioxide removal segment was the largest application segment of the market in 2016. However, the vapor/vapor separation segment is projected to grow at the highest CAGR during the forecast period due to the increasing use of gas separation membranes in refining, chemical, and petrochemical applications.
Asia Pacific led the gas separation membranes market in 2016, in terms of value, followed by the European and North American regions. There is a growth opportunity for the gas separation membranes market in Europe, North America, and Asia Pacific due to upcoming gas processing projects in these regions. The market in Asia Pacific is projected to grow at the highest rate from 2017 to 2022. The demand for gas separation membranes is growing in this region due to increasing industrialization and growing demand for gas based energy over petroleum products. In the Asia Pacific region, the market in India is projected to grow at the highest CAGR during the forecast period. Although China is an export-oriented country, the growing domestic demand is expected to increase the domestic consumption of gas separation membranes.
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