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(IT-NEWSWIRE.COM, December 14, 2021 ) The gas separation membranes market size is estimated at USD846million in 2019and is projected to reach USD 1.1 billionby2024, at a CAGR of6.0%.
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The increasing demand for biogas and renewable energy in developing countries such as India and China,along with the cost-effectiveness of membrane separation technology are expected to drive the demand for gas separation membranes during the forecast period.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 Ltd. (US), DIC Corporation (Japan), Parker Hannifin Corporation (US), Membrane Technology and Research, Inc. (US), and Generon IGS, Inc.(US).The gas separation membranesmarket reportanalyzes the key growth strategies, such as expansion, investment, new product launch,joint venture, and acquisition, adopted by the leading market players between 2017and 2019.
Air Liquide Advanced Separations (France)is one ofthe key players in the gas separation membranes market. The company has adopted the strategy of investment to strengthen its competitiveness in the global gas separation membranes market. For instance, in February 2018, Air Liquide Advanced Separations invested USD 170 million for the construction of Air Separation Unit (ASU) in Secunda with a production capacity of 5,000 tonnes of oxygen per day. This investment will enable the company to supply liquid gases to the growing industrial gas market in South Africa.
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Air Products and ChemicalsInc. (US) is one of the leading manufacturers of gas separation membranes; the company adopted expansionas one of its key business strategies. For example, in October 2018, thecompany announced plans to build and operate two air separation units in Tennessee. This expansion will provide oxygen and nitrogen to Eastman’s facility in Kingsport, Tennessee, and will extend the company’s relationship with Eastman.
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