Chicago, Aug. 03, 2022 (GLOBE NEWSWIRE) -- The global Gas Separation Membranes Market size is projected to reach USD 1.2 billion by 2026 from USD 0.9 billion in 2021, at a CAGR of 6.7% during the forecast period, according to a new report by MarketsandMarkets™. The overall increase in demand for gas separation membranes in emerging economies such as APAC is driving the global gas separation membranes market. Various regulations regarding carbon capture and storage are driving the growth of the gas separation membranes market. The development of mixed matrix membranes is an opportunity for the gas separation membranes market growth. Commercialization of new and advanced membrane systems are also projected to boost market growth of gas separation membranes.
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Developing economies are investing in gas exploration projects to reduce carbon emissions. Increasing demand for biogas and the requirement of carbon dioxide separation in various industries in emerging economies are driving the gas separation membranes market. The key players in the gas separation membranes market include Air Products and Chemicals, Inc. (US), Air Liquide Advanced Separations (France), Ube Industries, Ltd. (Japan), Honeywell UOP (US), Fujifilm Manufacturing Europe B.V. (Netherlands), Schlumberger Limited (US), DIC Corporation (Japan), Parker-Hannifin Corporation (US), Membrane Technology and Research, Inc. (US), and Generon, Inc. (US). The gas separation membranes market report analyzes the key growth strategies, such as new product launches, investment & expansion, agreement & collaboration, and mergers & acquisitions adopted by the leading market players between 2018 and 2021.
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Air Liquide Advanced Separations was the largest player in the gas separation membranes market in 2020. The company has a broad product portfolio for gas separation membranes to a wide range of end users. Gas separation membranes are offered by the Air Liquide Advanced Separations (ALaS) division of the gas & services segment. The company offers diversified and advanced products through huge investments in membrane innovation and technology. The company puts a huge emphasis on R&D and has adopted investment as its key business strategy to strengthen its position in the gas separation membranes market. In July 2021, Air Liquide delivered the largest helium purification plant in Canada. The plant is expected to support North America Heliums site in southwest Saskatchewan, Canada. It is the largest helium production plant in Canada.
Air Products and Chemicals is a leading industrial gases company operating across 44 countries. The company offers gas separation membranes under Industrial Gases – Regional (Americas, EMEA, Asia), which are based on hollow fiber modules. The company offers a wide range of products that serve various industries such as refining, chemical, gasification, metals, electronics, manufacturing, and food & beverage. It has adopted investment & expansion and merger & acquisition as its key business strategy to strengthen its foothold in the global market. In October 2021, Air Products announced a new brand identity for its membrane business units, which will now all operate around the world as Air Products Membrane Solutions. The new identity moves the former business units, including Air Products PRISM Membranes, Air Products Norway, and Permea China Ltd., under one name to simplify the customer experience and further encourage collaboration and innovations.
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