Gas Separation Membrane Market Size, Share, Revenue Demand & Growth by 2033
The gas separation membrane market is anticipated to expand its roots at a steady CAGR of 7.3% between 2023 and 2033. The market is expected to have a market share of US$ 4.73 billion by 2033 while it is likely to be valued at US$ 2.34 billion in 2023.
- The
growing awareness around the hazardous health effects of gases coupled
with expanding urban settings is flourishing the market growth.
Furthermore, the changing environment due to rising air and water
pollution is pushing end users to adopt products for gas and impurity
elimination.
- Stringent
government policies are pushing authorities to use gas separation
membranes for water purification, and the elimination of extra gases.
Also, the transforming chemical industry with high demand for gases like
oxygen and nitrogen is pushing the sales of the gas separation membrane.
- A
key source of revenue is generated through chemical procedures that
include nitrogen separation from oxygen and other processes. Some basic
chemical applications of these separation membranes are the removal of N2
and CO2 gases.
- The
complex procedures are made easy through these membranes as they provide pure
gas out of the gaseous mixture. For example, hydrogen recovery from
nitrogen.
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Key Points
- The
United States market leads the gas separation membrane market in terms of
market share in North America. The United States region held a market
share of 17.2% in 2022. The growth in this region is attributed to the
rising awareness, restoration of the food and beverage industry, and
stringent government policies.
- The
United Kingdom’s gas separation membrane market is another significant
market in the European region. The market thrives at a CAGR of 5.8%
between 2023 and 2033. The growth is attributed to the increased
consumption of gases like N2 and CO2 for chemical research and development
along with its use in the pharmaceutical industry.
- The
Chinese gas separation membrane market is anticipated to thrive at an
average CAGR of 8.4% during the forecast period. The growth is owing to
the huge population, higher consumption, and people installing products to
clean the surroundings such as air purifiers.
- The
nitrogen removal segment leads the application type segment as it holds a
market share of 22.9% in 2023. It is the top segment as there is a high
demand for nitrogen from food and beverages, and the pharmaceutical
industry.
- The
petrochemical and oil & gas segment consumes the utmost gas separation
membrane as end-users. It holds a global share of 27.5% in 2023. The
growth is attributed to increased consumption and the requirement for
filtration products.
Competitive Landscape
The key vendors work on making the product 100%
effectivity in filtration and cleaning the adulterated product. Furthermore,
the focus is also on government tenders. Key competitors and also merge,
acquire, and partner with other companies to increase their supply chain, and
distribution channel.
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