According to a new market report published by Credence Research “Oxygen Enriched Membrane Market Growth, Future Prospects and Competitive Analysis, 2017 – 2025,” the global oxygen enriched membrane market is expected to reach over US$ 1,300 Mn by 2025, expanding at a CAGR of 8.4% from 2017 to 2025.
Browse the full Oxygen Enriched Membrane Market by application Medical Application, Enhanced Combustion, Water Treatment and Others (Nitrox (scuba dive gas), Oxygen-enriched breathing air at high altitudes, etc.) – Market Growth, Future Prospects and Competitive Analysis, 2017 – 2025 report at http://www.credenceresearch.com/report/oxygen-enriched-membranes
Oxygen enriched membranes have gained an important place in chemical technology and are used in a broad range of applications. The global oxygen enriched membrane market is expected to reach US$ 1,300 Mn by 2025, expanding at a CAGR of 8.4% from 2017 to 2025.
On the basis of application, the global oxygen enriched membrane market is segmented into medical application, enhanced combustion, water treatment, and others. Among these, medical segment dominated the market and accounted for 45.83% share of the global market in 2015. This segment is projected to maintain its dominance over the next eight years. This market is primarily witnessing growth owing to increase in number of elderly and sick people which require oxygen-enriched air to facilitate smooth breathing.
For the purpose of this study, the global oxygen enriched membrane market is categorized into regional markets viz., North America, Europe, Asia Pacific and Latin America and Middle East and Africa. In base year 2015, North America was observed as the largest market for oxygen enriched membrane. Renewable fuel standards in U.S. and European Union creating a market for second generation bio-fuels, which will generate demand for oxygen enriched membrane for enhanced combustion. Asia Pacific and Latin America are sought after regional markets in terms of growth opportunities for upcoming years for oxygen enriched membrane. Asia Pacific is expected to achieve highest growth rate compared to other regions due to presence of countries such as China, India and Japan are observing significant industrial growth. Stricter regulations of water quality in economy like China and Japan will provide growth for oxygen enriched membrane from the region. Unmet medical needs generated from a rapidly ageing population, and increasing healthcare infrastructure spending across Asia Pacific and Latin America should act as a catalyst to the growth of oxygen enriched membrane.
Furthermore, the companies are focusing on expanding their business network, across regional markets. They are strengthening their market penetration by offering wide product range in the oxygen enriched membrane segment. Due to relatively long lifetime of oxygen enriched membrane enabled systems, the need for new membrane is limited. Air Products and Chemicals Incorporated, Dalian Puricle Co., Ltd., GE Water & Process Technologies, Genrich Membranes Pvt. Ltd., Membrane Technology and Research, Inc., Pall Corporation, Parker Hannifin Corp., Teijin Pharma Limited, The Dow Chemical Company, Pacific Consolidated Industries, Sigma-Aldrich Co. LLC. (Merck Group), Atlas Copco AB, NOXERIOR S.r.l., Membrana GmbH (3M Company) and GENERON are few key manufacturers in oxygen enriched membranes market.
- Oxygen enriched membrane market is witnessing growth due to rise in demand from various end uses
- The companies are focusing on enhancing their product portfolio across the key consuming regions
- Asia Pacific is expected to register the highest growth rate