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Demand for better Utilization of Hydrocarbons to take the Gas Separation Membrane Market to US$ 3.1051 Bn by the year 2028 | Future Market Insights, Inc.

Future Market Insights Global and Consulting Pvt. Ltd.
Future Market Insights Global and Consulting Pvt. Ltd.

U.S. Gas Separation Membranes Market is expected to reach about US$ 644.6 Mn by the year 2028. The petrochemical and oil & gas segment is expected to grow at a prominent value of 8.1% CAGR, over the forecast period of 2022 to 2028

NEWARK, Del, Oct. 06, 2022 (GLOBE NEWSWIRE) -- The global gas separation membrane market is expected to reach US$ 3.1051 Bn by the year 2028 from US$ 1.95 Bn in 2022 at a CAGR of 8.1% between 2022 and 2032.

Gas separation element’s application implies splitting up gases, so as to purify/separate aspects of a single/multiple gas (es). The gas penetrates as per diffusivity, solubility, or size difference by having membrane module pumped with gas. Gas separation method does play a major role in industrial plants and used in oil and gas vertical.

With growing demand for natural gas and biogas, removal of toxic gases is inevitable. As such, gas separation membrane ought to be there. The advantages of gas separation membrane include lower requirement of capital, lower requirement of energy, lower operational costs, and likewise.

Governments across the globe are imposing regulations regarding emission of carbon dioxide and greenhouse gases. This factor, along with need for hydrogen purification and hydrocarbons separation, is the factor accelerating the gas separation membrane market.

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However, the fact that industrial verticals are adopting new technologies like amine absorption technology, and pressure swing adsorption due to longer lifespan of modules, higher reliability, and capacity of operating under tough conditions can’t be ignored. This factor is bound to restrain the gas separation membrane market in the near future. The other challenges include membrane swelling, fouling, and plasticization. Installation of gas separation membrane technologies is also pricy.

The other processes running in parallel with gas separation membrane technologies include Benfield process, cryogenic process, amine guard process, and thermal swing absorption. Gas separation membrane technologies overpower them as they are more flexible and economical even at room temperature. Future Market Insights has, through its latest market study entitled “Gas Separation Membrane Market”, enlisted these findings with subsequent steps to be taken with regards to gas separation membrane market.

Key Takeaways from the Gas Separation Membrane Market

  • The US contributes for maximum share of market revenue. This could be reasoned with well-established manufacturing plants being present over here.

  • The Asia-Pacific is led by China due to growing demand for removal of CO2 from the reservoirs and rising demand for fresh water and sanitation.

  • As far as sales prospects are concerned, chemicals are expected to holds more than 30% of the market share in the forecast period.

“With increasing demand for gas sweetening, biogas purification, and improvised oil recovery, the global gas separation membrane market is expected to expedite in the forecast period”, says an analyst from Future Market Insights.

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From the Competitors’ Desk

  • Air Products, in October 2021, launched a novel brand identity for the membrane business units. As such, previous business units such as Air Products Norway, Air Products PRISM Membranes, and Permea China Ltd. started operating as “Air Products Membrane Solutions”, so as to encourage innovations and collaborations.

  • Air Liquide, in July 2021, delivered the biggest helium purification plant in Canada. It’s expected to extend support to America Helium’s site in Canada’s southwest Saskatchewan. It needs to be noted that it’s the biggest helium production plant all across Canada.

  • Honeywell UOP, in July 2020, announced using the modular natural gas processing technology in developing 900 Mn standard cubic feet/day (mmscfd) offshore gas purification plant in Kasawari gas field, wherein Separex and MemGuard technologies are used for removing hydrogen sulphide, carbon dioxide, and mercury from the natural gas.

  • The government of UAE, on February, 2020, announced that it had detected a natural gas element reserve between Abu Dhabi and Dubai. The reserve measures around 80 trillion cubic feet.

  • Membrane Technology and Research, in April 2019, was conferred upon a DOE project to develop new isoporous support membrane that has been helping in enhancing carbon capture performance.

  • Air Liquide, in July 2021, made provision for CO2 membrane technology to Siemens Energy for FPSO project in offshore Latin American oil field.

What does the Report Cover?

  • Future Market Insights offers an exclusive perspective and various real-time insights on the gas separation membrane market in its latest study, presenting historical demand assessment of 2016 – 2021 and projections for 2022 – 2032.

The research study is based on material type (polymeric membrane, inorganic membrane, and metallic membrane), by construction type (hollow fiber module, spiral wound module, and plate & frame module), by application (nitrogen separation, oxygen separation, acid gas separation, hydrogen separation, methane separation, carbon dioxide separation, and olefin – paraffin separation) and by end-use (chemical, petrochemical and oil & gas, food & beverages, power generation, pharmaceutical, pollution control, and others).

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Table of Content

1. Executive Summary

    1.1. Overview

  1.2. Market Analysis

  1.3. FMI Analysis and Recommendations

  1.4. Wheel of Fortune

2. Market Introduction

  2.1. Market Taxonomy

  2.2. Market Definition

3. Market Viewpoint

TOC continued…!

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About Future Market Insights, Inc.

Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

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