Gas Separation Membrane Market worth $1.6 billion by 2030 - At a CAGR of 7.4%

The global gas separation membrane market size is estimated to be USD 1.0 billion in 2023 and projected to reach USD 1.6 billion by 2030, at a CAGR of 7.4%, between 2023 and 2030. The demand for gas separation membranes is anticipated to surge, driven by the growing emphasis on sustainability and the need to mitigate greenhouse gas emissions through the separation and capture of CO2 from industrial flue gases. Gas separation membranes offer a viable solution for enhancing air quality by selectively capturing pollutants such as nitrogen oxides (NOx) and sulfur dioxide (SO2) from industrial exhaust gases.

Download PDF Brochure at https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=50564392

On the basis of material type, the polyimide & polyaramide type segment is expected to lead the market in terms of value in 2023. Polyimide & polyaramide have excellent thermal stability and can withstand a wide range of temperatures without undergoing significant degradation. These membranes boast robust mechanical strength and durability, crucial for managing pressure differentials and mechanical stresses inherent in gas separation operations. The growth of polyimide & polyaramide membranes market is driven by strict environmental regulations, emissions reduction, and increasing demand for clean energy across emerging countries and developing economies. This helps to minimize the release of greenhouse gases and other pollutants.

On the basis of application, the carbon dioxide removal segment accounted for the largest share in the gas separation membrane market. Reducing carbon dioxide emissions globally is a vital effort to counteract climate change. High-emission industries, including electricity generation and manufacturing processes, face growing demands to minimize their ecological impact through reduced carbon footprint. Gas separation membranes play a pivotal role in capturing CO2 emissions at their origin. The significance of CO2 removal in addressing climate change and advancing environmental sustainability has positioned gas separation membranes, especially those tailored for CO2 capture and purification, as essential technologies across diverse industries and applications. This importance is anticipated to further increase as the world seeks to reduce greenhouse gas emissions and move towards a more sustainable future.

Request FREE Sample of Report at https://www.marketsandmarkets.com/requestsampleNew.asp?id=50564392

On the basis of region, North America is the second-fastest growing market for gas separation membrane in 2023. North America stands as a major energy producer, with a notable reliance on natural gas for electricity generation. Gas separation membranes play an important role in the processing and refining of natural gas, ensuring its quality and safety for energy production purposes. The North American gas separation membrane market is driven by strict environmental regulations and the need for advanced gas separation technologies, especially in reducing greenhouse gas emissions. Gas separation membranes play an important role in carbon capture and utilization (CCU) and carbon capture and storage (CCS) processes, which are crucial for mitigating climate change.