Gas Separation Membranes Market Will Reflect 8% CAGR Through 2030; Natural Gas Supply and Trade Issues During Covid-19 Pandemic to Hurt Market: Fact.MR

Gas separation membrane manufacturers are largely invested in research for membrane material innovation in an effort to meet the needs of a wider range of gas separation applications in multiple verticals.

ROCKVILLE, MD / ACCESSWIRE / August 17, 2020 / The gas separation membranes market is estimated to exhibit stellar a very impressive 8% CAGR between the projection years from 2020 to 2030. The covid-19 pandemic has had a disruptive impact on the global market, largely owing to cessation or reduction of offshore and shale natural gas production and demand in 2020. The industry is likely to witness strong recovery towards 2021 with continued investments into gas processing plant upgrades.

“Rising concerns about the environmental impact of the natural gas industry coupled with strict government regulations to minimize oil in water levels for pipelines have resulted in efforts to standardize separation levels. This in turn has increased the demand for gas separation membranes for years ahead,” says the Fact.MR analyst.

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Gas Separation Membranes Market – Important Takeaways

• Scrubber separation membranes are witnessing strong growth in demand, aided by strict government rules on flare gas quality.
• Hydrogen separation membranes are expected to gain popularity in electrolyzer applications, driven by investments in the renewable energy sector.
• Asia Pacific is a fast-growing market for gas separation membranes owing to major increases in exploration and production activity in India, China, Vietnam, Indonesia, Malaysia, and Taiwan.

Gas Separation Membranes Market – Driving Factors

• Strict government regulations on greenhouse gas emissions in industrial settings is a major influencer for market growth.
• Niche applications in power, and water treatment sectors will generate lucrative growth opportunities.

Gas Separation Membranes Market – Leading Constraints

• Concerns over the plasticization of polymer-based gas separation membranes hinders market prospects.
• High costs associated to the production and use of metallic membranes is restricting market growth.

Anticipated Market Impact by Coronavirus Outbreak

The covid-19 pandemic has resulted in a sharp decline in the demand for exploration activities in the natural gas sector. New projects in the industry have been delayed or cancelled. Further, the outbreak is likely to result in long-term economic uncertainty in the sector. These factors are expected to have a detrimental impact on the demand for gas separation membranes. Recovery of the market is likely to be steady towards 2021 as the natural gas sector has proven to be more resilient in comparison to that of the coal and oil industries.

Explore the global gas separation membrane market with 119 figures, 70 data tables, along with the table of contents of the report. You can also find detailed segmentation on https://www.factmr.com/report/4803/gas-separation-membrane-market

Competition Landscape

Some of the leading manufacturers in the global gas separation membrane market include but are not limited to UBE Industries, Honeywell International Inc., Schlumberger Ltd., Evonik Industries, and Air Products and Chemicals.

Players in the gas separation membrane market are displaying increased interest in strategic collaborations for product development and long-term contracts in end user industries.

For example, Aker Solutions has partnered with Total, Equinor, and Pertamina for research initiatives for subsea gas and CO2 separation membranes. Compact Membrane Systems Inc. is collaborating with Braskem America Inc. as for joint development initiative for olefin/paraffin gas separation technologies. Further, Koch Separation Solutions is expanding production of its hollow fiber membrane technology in Wilmington, Massachusetts.

More on the Report

The FACT.MR’s market research report provides in-depth insights on gas separation membrane market. The market is scrutinized according to material (polymeric, inorganic, and metallic), construction (hollw fiber, spiral wound, and plate & frame), application (nitrogen, oxygen, acid gas, hydrogen, methane, carbon dioxide, and olefin-paraffin) and end use (chemical, petrochemical and oil & gas, food & beverages, power generation, pharmaceutical, pollution control, and others) across six key regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, and Middle East and Africa).

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About Fact.MR

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