By Amey Godbole
Gas Separation Membranes Market, By Type, Application and Region - Growth, Future Prospects and Competitive Analysis, 2016 - 2024,” the global gas separation membranes market was valued at US$ 1,720.4 Mn in 2015, and is expected to reach US$ 3,325.2 Mn by 2024, expanding at a CAGR of 8.2% from 2016 to 2024.
Gas Separation Membranes Market Revenue Share By Type
On the basis of type global gas separation membrane market is segmented into polymeric membranes and non-polymeric membranes. Between these types, polymeric gas separation membranes account for a major share of global gas separation membranes market, accounting for 77.46% market share in 2015.
Gas Separation Membranes Market By Application
On the basis of application, in the base year 2015, water & wastewater treatment accounted for a major share of global gas separation membranes market. It accounted for 43.39% market share in the same year followed by food & beverage processing with 21.96% market share.
For the purpose of this study
The global gas separation membranes market is categorized into regional markets viz., North America, Europe, Asia Pacific, and Latin America, and the Middle East and Africa. In the base year 2015, Asia Pacific was observed as the largest market for gas separation membrane. The overall growth of the Asia Pacific market will be above the global benchmark during the forecast period. The major factors driving the growth in the Asia Pacific include the rising population, increasing industrialization, rapid urbanization, and improved physical infrastructure in countries such as India, China, Japan, etc. and growing international trades from the region.
Market Insights
The global gas separation membranes market is experiencing growth due to the rise in demand from the various end-use application. As energy costs rise, gas separation membrane technology is likely to play an increasingly important role in reducing the environmental impact and costs of industrial processes. Gas separations membranes are widely used in food & beverage processing, water & wastewater treatment, pharmaceutical & medical application, chemical processing, industrial gas processing, and other applications. Moreover, Compared to the conventional separation technologies such as cryogenic distillation, absorption, and adsorption, industrial attention is now focused on the adoption of membrane-based gas separation. This is due to inherent advantages offered by gas separation membranes such as energy efficiency with low capital investment, simplicity, and ease of installation, low operation and maintenance cost, low weight, and space requirement with high process flexibility.
The major challenge hampering the growth of the market is problems associated with the lifespan of membranes as after a certain period, the durability of membranes decreases, resulting in need for replacement, therefore associated increased operational and maintenance costs. Increasing concerns over water scarcity and need for desalination in the developing countries offer a growth opportunity to the gas separation membranes in water and water treatment market.
Amey Godbole (Editor)
Amey Godbole is a Senior Research Analyst working with Credence Research since its inception. He has an experience of market research in the fields of E-commerce, Information Technology (IT) Services & Solutions and Electronics segments. Amey has completed B.E. with specialization in Electronics & Telecommunication from University of Mumbai and MBA in Marketing.
Contact:
Email: Amey@industrynewsupdate.com
Mo. No. 919719670423
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