Global Gas Separation Membranes Market Industry Key Revenue Pockets

Northbrook, IL, USA, 2021-Sep-22 — /EPR Network/ —

The gas separation membranes market size is estimated at USD 846million in 2019 and is projected to reach USD 1.1billion by 2024, at a CAGR of 6.0%.One of the major restraints of the gas separation membranesmarket is theregulations on the plasticization of polymeric membranes.Plasticization changes the structure of membranes, resulting in their low selectivity and performance. This issue is mostly experienced in the natural gas sweetening application, which is one of the fastest-growing usersofmembrane-based gas separation technology.

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Innovation and technology advancements ingas separation membraneshave led to various improvements in gas separation membranesin terms of good selectivity, permeability, high chemical and thermal stability, and good film forming properties. Recently, mixed matrix gas separation membranes are being developed. The mixed matrix membranes are considered to be new generation membranes for gas purification application. These membranes have unique properties of both polymer and inorganic membranes.Mixed matrix membranes have high selectivity of the dispersed filler, desirable mechanical property, and economical processability of polymers.

Carbon dioxide removal application accounts for the largest share in the overall gas separation membranes market. 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 requirement for carbon dioxide removal process, which is driving the gas separation membranes market. The market in the vapor/vapor separation application is projected to witness the highest growth during the forecast period.

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APAC is projected to be the fastest-growing gas separation membranes market.This growth is driven mainly by the high demand from the developing countries for carbon dioxide removal application. The requirement ofgas separation membranes is high in developing economies such as China and India due to the rising demand for sanitation and fresh water, increasing urbanization, and improving standard of living.In recent years, APAC is emergin gas the fastest-growing region with development in countries such as India, China, South Korea, Thailand, and Indonesia. The increasing growth and investment in reservoir related projects have stimulated the demand for carbon dioxide removal.