(MENAFN- GlobeNewsWire - Nasdaq) Need for Chemical Separation Membranes Increasing in Oil Refineries Due to Their Lower Energy ConsumptionRockville , April 03, 2024 (GLOBE NEWSWIRE) -- The membrane separation process is crucial in the chemical industry. The process uses a thin membrane to sift through solution ingredients, retaining essential components while filtering out unwanted ones. According to this new study by Fact, the global chemical separation membrane market is set to reach US$ 1.19 billion in 2024 and is projected to thereafter advance at a CAGR of 8.7% from 2024 to 2034.
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Chemical separation membranes are used in refinery processes to separate various components from crude oil and processed gases. This replaces traditional methods like amine scrubbing, cryogenic distillation, and pressure swing adsorption. Chemical separation membranes are used extensively in the desalination process, crucial for separating salts and minerals from water. These membranes also play a role in preventing the build-up of dissolved salt content in saline water, making it usable for various purposes.
Separation membranes play a role in extraction, absorption, distillation, evaporation, and equilibrium distribution. They streamline production processes and provide optimal chemical compositions with efficiency.
Related Market Projections for 2034
| Gas Separation Membrane Market | US$ 3 Billion |
| Membrane Separation Market | US$ 115.64 Billion |
| Chromatographic Separation Resin Market | US$ 3.35 Billion |
Key Takeaways from Market Study
The global chemical separation membrane market is projected to expand at a CAGR of 8.7% through 2034. Global sales of separation membranes are estimated at US$ 1.19 billion in 2024. The market is forecasted to reach US$ 2.74 billion by 2034-end. The North American market is projected to expand at a CAGR of 8.8% through 2034. The gas/liquid contacting segment is estimated to account for 23.3% market share in 2024. East Asia is forecasted to account for 38.4% share of the global market by 2034.
| Report Attribute | Details |
| Value Projection (2034) | US$ 2.74 Billion |
| Growth Rate (2024-2034) | 8.7% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 84 Tables |
| No. of Figures | 112 Figures |
“Growing demand for chemical separation membranes is due to their crucial role in wastewater treatment, desalination, dairy industry applications, and streamlining various industrial processes,” says a Fact analyst.
Key Companies Profiled in This Report
Air Liquide Air Products and Chemicals Inc Membrane Technology and Research Inc. Evonik Industries DeltaMem Honeywell DIC Corporation Generon
These incredibly strong and efficient membranes also demonstrate their effectiveness across a broad range of sectors, further solidifying their reputation in the market place.
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More Valuable Insights on Offer
Fact, in its new offering, presents an unbiased analysis of the chemical separation membrane market for 2018 to 2023 and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on membrane type (PTFE, EPTFE, PEEK, polypropylene, PVDF, silica, zeolite), application (membrane distillation, membrane liquid extraction, gas/liquid separation, gas/liquid contacting, gas separation, pervaporation, zero liquid discharge), and end use (water purification, food & beverages, oil & gas, pharmaceuticals, laboratory & analytical, ink & coating, electronics & semiconductors, energy generation, building & construction), across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA).
Explore More Related Studies Published by Fact Research:
Chromatographic Separation Resin Market : Chromatographic separation resin sales are projected to reach US$ 3.35 billion by 2034.
Gas Separation Membrane Market : The global gas separation membrane market is forecasted to expand at a CAGR of 8% from 2023 to 2033. The market is valued at US$ 1.3 billion in 2023 and is thus expected to reach a size of US$ 2.8 billion by 2033-end.
Membrane Separation Market : The global membrane separation market size is set to reach US$ 43 billion in 2024 and further expand at a CAGR of 10.4% to end up at a value of US$ 115.64 billion by the end of 2034.
About Fact :
Fact is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
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