LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global gas separation membrane market to grow at a CAGR of more than 7% during the period 2018-2022, according to their latest report.
This market research report segments the global gas separation membrane market into the following applications (CO2 removal, nitrogen generation and oxygen enrichment, and hydrogen recovery) and end-users (water and waste treatment, food and beverage, and pharmaceutical).
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In this report, Technavio analysts highlight the rising demand for biogas as a key factor contributing to the growth of the global gas separation membrane market:
Rising demand for biogas
Biogas is produced from byproducts of biodiesel and ethanol. It is also produced by the anaerobic digestion of energy crops and organic residues. The rotting process of energy crops and organic residues results in the production of methane. Methane can be either directly burnt as a gas or converted into electricity. It can be stored in canisters for transportation purpose. Biogas has been gaining traction as a versatile energy carrier with a substantial potential to meet the increasing demand from the power, heating, and fuel markets. It holds an advantageous position in terms of resource efficiency.
According to a senior analyst at Technavio for metals and minerals, “Factors such as biogas being used as a renewable source of energy and the increasing greenhouse gas emissions are the major factors driving the growth of the market. With the biogas market growing at a high growth rate, the gas separation membrane market is expected to grow as biogas is extracted from biomass. Biomass consists of gases such as methane and carbon dioxide, as well as traces of hydrogen sulfide, ammonia, hydrogen, nitrogen, carbon monoxide, and oxygen. These gases are separated from biogas using gas separation membrane technology.”
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Global gas separation membrane market segmentation
Of the three major applications, the CO2 removal segment held the largest market share in 2017, accounting for nearly 32% of the market. The market share for this segment is expected to increase slightly during the forecast period.
APAC was the leading region for the global gas separation membrane market in 2017, accounting for a market share of around 40%. The market share of APAC is anticipated to increase during the forecast period.
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