Gas Separation Membranes Market by Material, Application, and Region - Global Forecast to 2022

The global gas separation membranes market is projected to reach USD 2.61 Billion by 2022, at a CAGR of 7.2% between 2017 and 2022.

Gas separation membranes are used to separate and purify a specific component from the rest of the gas or vapor mixture. Gas separation membrane technology is widely used for gas processing application in industries such as chemical, petrochemical, and manufacturing. Increasing demand from these industries drives the market for gas separation membranes. The market has been witnessing significant growth in recent years, and this growth is projected to persist in the coming years as well.

Gas separation membranes are used for nitrogen generation & oxygen enrichment, hydrogen recovery, carbon dioxide removal, vapor/gas separation, vapor/vapor separation, and air dehydration, which are the main application segments considered for the report. In 2016, the carbon dioxide removal segment accounted for the largest market share, followed by nitrogen generation & oxygen enrichment, hydrogen recovery, and vapor/vapor separation segments.

The carbon dioxide removal segment's large share is attributed to the growing need to remove carbon dioxide in natural gas pipelines for safe transmission. The vapor/vapor separation segment is projected to grow at the highest rate during the forecast period due to the increasing adaptability of gas separation membranes in refining processes.

North America, Europe, Asia Pacific, Middle East & Africa, and South America are the main regions considered for the gas separation membranes market report. Asia Pacific is the largest market for gas separation membranes. This region dominates the gas separation membranes market due to increasing industrialization, which directly drives gas processing activities. The market in this region is also projected to witness the fastest growth rate between 2017 and 2022 owing to the increasing demand for energy-efficient and cost-effective gas separation.

Though the gas separation membranes market is growing at a significant rate, a few factors, such as the high price of equipment, shift of the end-use market from developed countries to emerging countries, and the rising cost of production, hinder the growth of the market, globally.

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 leading companies in this market.

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Companies Mentioned

For more information about this report visit https://www.researchandmarkets.com/research/pxdw8b/gas_separation

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