In Terms of Value, Gas Separation Membrane Market is Expected to Reach Over US$ 1.6 Billion During the Forecast Period 2018-2028 - Future Market Insights

VALLEY COTTAGE, New York, December 11, 2018 /PRNewswire/ --

Gas Separation Membrane is an important component that is installed in a gas separation system. The gas separation membrane is a selective barrier with the ability to separate process or atmospheric gases from the feed (mixed gases) based on the selective permeability of the membrane material which differs for different gases based on required application. The global market for Gas Separation Membrane is expected to witness significant growth during the forecast period worth and will create absolute $ opportunity worth USD 1.6 billion.

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Based on product type, Gas Separation Membranes can be classified into Polymeric Membranes, Inorganic Membranes and Metallic Membranes. The Polymeric Gas Separation Membrane segment includes polymer-based membranes and inorganic segment covers ceramic and other non-metallic membranes. The Polymeric Gas Separation Membrane segment will continue to dominate the global market in terms of global market share and is expected to account for around 60% share of the total absolute dollar opportunity created by the end of 2028.

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Based on construction type, the market is categorized into Hollow Fiber Module, Spiral Wound Module and Plate & Frame Module. The Plate & Frame is a traditional technology that has been around since a long time. However, new technologies, such as Hollow Fiber Module and Spiral Wound Module, are expected to witness significant growth over the forecast period. The Hollow Fiber Module is projected to hold around 55% share in the total incremental $ opportunity created in the market between 2018 and 2028.

Gas Separation Membranes are used for various applications, such as Nitrogen Separation, Oxygen Separation, Acid gas Separation, Hydrogen Separation, Methane Separation, Carbon Dioxide Separation and Olefin - Paraffin Separation. By application, the Nitrogen Separation application is anticipated to be the fastest growing segment in the Gas Separation Membrane Market over the forecast period.

Based on End-Use Industries, Gas Separation Membranes are used in many industries, such as Chemical, Petrochemical and Oil & Gas, Food and Beverages, Power Generation, Pharmaceutical and Pollution Control, among others. However, Chemical, Petrochemical and Oil & Gas industries are expected to account for the dominant shares in the global Gas Separation Membrane market.