Market Size of Gas Separation Membrane Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 1.97 Billion |
| Market Size (2029) | USD 2.61 Billion |
| CAGR (2024 - 2029) | 5.87 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Gas Separation Membrane Market Analysis
The Gas Separation Membrane Market size is estimated at USD 1.97 billion in 2024, and is expected to reach USD 2.61 billion by 2029, growing at a CAGR of 5.87% during the forecast period (2024-2029).
COVID-19 had a significant impact on the entire supply chain of the oil and gas industry, pharmaceutical industry, and biomedical devices industry, owing to strict lockdowns in several regions and thus negatively impacting the market for gas separation membranes. However, with the lifting of restrictions, the market is expected to gain pace with time and continue to grow during the forecast period.
- The primary factors driving the market study include the rising demand for membranes in carbon dioxide separation operations and stringent government regulations governing GHG emissions.
- On the contrary, the plasticization of polymeric membranes in high-temperature applications and the upscaling and adoption of new membranes have significantly hampered market growth.
- Nevertheless, the development of mixed matrix membranes (MMM) and polymeric membranes, as well as expanding applications, are projected to open new potential in the market under consideration.
- The Asia-Pacific region is the largest market and is predicted to be the fastest-growing market throughout the projection period, owing to rising demand in China, India, and Japan.
