Recently a market study published by Future Market Insights (FMI) on the Gas Separation Membrane market includes the global market analysis for 2013-2021 & opportunity assessment for 2022-2028, and also delivers a comprehensive assessment of the most important market dynamics. Our analysts conduct thorough research on the historical as well as current growth parameters of the market to obtain growth prospects with utmost precision.
As the surging natural and shale gas production levels are accelerating the ongoing shift to membrane gas separation technology, an escalating number of gas processing and biogas projects also continues to trigger the sales of gas separation membrane at a global level.
As indicated by a new intelligence study presented by Future Market Insights, the global revenue through gas separation membrane sales will exceed the valuation of US$ 1.9 billion in 2022.
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With mounting energy costs, it is more likely that gas separation membrane technology will play a vital role in building a reduced environmental impact, says the report.
Gas Separation Membrane: Taxonomy
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Nitrogen Separation Raises Maximum Demand
The gas separation membrane technology has been in use for a range of industrial applications, primarily attributed to the energy efficiency and superior process flexibility. Low maintenance and low capital investment further encourage adoption.
“Although gas separation membranes find a wide applicability in the recovery of hydrogen, separation of gas or vapor, removal of carbon dioxide, and dehydration of air, a majority of the demand comes from the applications in nitrogen and oxygen enrichment,” say a senior research analyst at the company.
Adding further, the analyst says, “While the demand for gas separation membranes for nitrogen separation is poised for a significant incremental opportunity coupled with a relatively higher year on year revenue growth of just-under 8% in 2022, it is closely followed by the hydrogen separation segment. The latter is projected for a moderate incremental opportunity over the next few years”.
Emerging Economies Hold Notable Market Potential
With a combined share of over 55% in the total market value at present, North America and Western Europe remain the top performing regional markets witnessing high volume sales of gas separation membrane. However, the report estimates Western Europe to secure more control over the cumulative share and demonstrate robust yearly growth in 2022 and beyond.
Asian countries, as are inclining more towards sustainability in recent years, a number of leading manufacturers in the global gas separation membrane landscape are looking forward to an improved market presence in developing regional economies across Asia as well as Eastern Europe.
Strategic Developmental Analysis: Competition Tracking
The consolidated competitive landscape of gas separation membrane is dominated by top international players such as Evonik, Atlas Copco, Parker Haniifin, and Fujifilm. Among the prominent companies actively competing in the market, Atlas Copco Inc. recently installed a new manufacturing base in the US. More recently, the company announced the strategic acquisition of the British manufacturing giant Walker Filtration Ltd.
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Apart from acquisitions and new production unit launch, strategic collaborations, joint ventures, and contractual cooperative agreements with technology innovators, manufacturers, and other stakeholders are likely to be the most preferred developmental strategies of leading market players.
FMI projects that companies operating in the gas separation membrane ecology are likely to debut in related industrial segments in an effort to penetrate into new markets. This will possibly help gas separation membrane manufacturers develop diverse business portfolios without facing intense consequences of the economic volatility.
A majority of distribution and sales is identified at company sales offices, distribution centers, and EPC contractors’ offices. Leading companies are thus focusing on their regional sales offices, thereby creating a positive outlook for the sales of gas separation membrane.
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