Gas Separation Membrane Market forecasted of USD 841.31 Mn revenue growth through 2023-2027
The gas separation membrane market is expected to grow at a compound annual growth rate (CAGR) of 6.3%, or USD 841.31 million from 2023 to 2027. Rising popularity as a flexible energy source, biogas has the potential to supply a large portion of the expanding power, heating, and fuel sectors. In terms of resource efficiency, it is in a favorable position, thus propelling the market advancement of the gas separation membranes market during the forecast period.
Air Liquide SA, Air Products and Chemicals Inc., Airlane Co. Ltd., Asahi Kasei Corp., DIC Corp., Evonik Industries AG, FUJIFILM Corp., GENERON, KNM Group Berhad, Membrane Technology and Research Inc., Novamem AG, Ube Corp., Xebec Adsorption Inc., Grasys JSC, Imtex Membranes Corp., and Honeywell International Inc are some of the major market participants when it comes to Gas Separation Membrane Market
Snapshot of the Gas Separation Membrane Market
" Navigating through the eccentric market drivers, it has been concluded that the rising demand for biogas is the primary catalyst for the market propulsion."
Biodiesel and ethanol byproducts are used to make biogas. Methane is produced during the decomposition of organic wastes and energy crops.
Methane is a fuel that can be burned straight to produce gas or transformed into energy. It can also be transported in canisters. As a flexible energy source, biogas has been gaining popularity and has a large potential to supply the expanding fuel, electricity, and heating industries. Hence this is in turn propelling market development of the Gas Separation Membrane Market
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