According to a recent market study published by Growth Market Reports, titled, “Global Pressure Swing Adsorption (PSA) Market – by type, by application, and by regions: Size, Share, Trends and Opportunity Analysis, 2018-2028”, the market was valued at US$ 17,678.6 Million in 2020 and is expected to grow at a moderate growth rate of US$ 1,932.6 by the year 2028. Growing demand for high purity gases   and low maintenance cost are expected to drive the market growth during the forecast period.

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Pressure Swing Adsorption (PSA) is a separation method that involves forcing gas from one column into another using pressure. As it flows back and forth between vessels with various pressures, the adsorbent material in the absorber vessel passes through two separate pressure cycles such as high-pressure and low-pressure stages. The growth of the market is attributed to the growing demand for high purity gases in a variety of industries, including the chemical manufacturing industry, glass industry, and oil refineries.

The global Pressure Swing Adsorption (PSA) market is consolidated based on type, application, and region. Based on types, the global Pressure Swing Adsorption (PSA) market is segmented into double stage PSA and rapid PSA. The Rapid PSA is expected to hold a substantial market share during the forecast, due to growing investment in various countries such as the US, the UK, China, and India. For instance, the US Department of Energy’s (DOE’s) Office of Fossil Energy plans to invest USD4 million in four national lab-led R&D programs to find novel concepts and technologies for manufacturing oxygen.

The Pressure Swing Adsorption (PSA) market is projected to witness a slight increase in year-on-year growth for 2020 as compared to the previous year 2019. Regulatory bodies anticipated to play a key role in boosting the market are supporting the growth of the market in 2020. T PSA technology is used to separate the different gaseous components present in the gaseous mixture.

Rise in the requirement for pure gases in different industries such as medical, petrochemicals, food & beverages, and chemical manufacturing, which is fueling the market. This technology is used to extract pure nitrogen and oxygen gases from mixtures. Increase in disposable income and industrialization propel the demand of utility gases, which are essential in goods fabrication. Rising demand for high purity gases across the globe is anticipated to fuel the market.

As per Growth Market Reports industry analyst Sakshi Bhoyar, “The global Pressure Swing Adsorption (PSA) market is anticipated to witness moderate growth during the forecast period 2020-2027. The Pressure Swing Adsorption (PSA) market is registering growth opportunities across the globe, government initiatives toward Pressure Swing Adsorption (PSA) and increasing demand for Pressure Swing Adsorption (PSA) generating gases.”

The first quarter of 2020 was an unforeseen turning point for the Pressure Swing Adsorption (PSA) market. Supply chains were disturbed by COVID-19 outbreaks in major regions, thus reducing the demand for various products, due to uncertainty in the global economy. Certain discrepancies in production and supply chain created mild disruptions across some areas in the supply chain of the Pressure Swing Adsorption (PSA) market. However, after the second quadrant due to increasing product demand for industries has boosted the market growth in 2020.

Key Takeaways from the Study

  • The players include Xebec Adsorption Inc., Linde plc, Honeywell International Inc., SAMSON AG, Cabot Corporation, Mitsubishi Kakoki Kaisha, Ltd., Air Liquide, Peak Scientific Instruments., Universal Industrial Gases, Inc., NOVAIR INDUSTRIES, Hangzhou Tianli Air Separation Equipment Manufacturing Co., Ltd, PKU PIONEER, Cotting Industries, Inc., The Titus Company, GENERON, Toyo-Korea, Oxair, Oreco, WAGNER Group GmbH, and OXYMAT among others hold a significant share of the Global Pressure Swing Adsorption (PSA) market in the year 2020.
  • The market in North America is projected to expand at a significant CAGR during the forecast period, due to ongoing technological advancements and increasing investments in several countries in the US and Canada. Growing demand for food & beverages increases the requirement for pressure swing adsorption to produce nitrogen, which is used in packaging, thus boosting the market in North America.
  • In terms of applications, the global Pressure Swing Adsorption (PSA) market is segregated into hydrogen recovery and purification, oxygen generation, nitrogen generation, oil refineries, production of ammonia, semiconductor plasma process, and others.

Report Scope

Report Metric

Details

Market Value in 2020

US$ 17,678.6 Million

Market Growth Rate (from 2020 to 2028)

6.6%

Historical Data

2018, & 2019

Base Year

2020

Forecast Period

2021 - 2028

Units Considered

Value (US$ Million)

Market Segments

Type, Application, and Regions

Regional Scope

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Key Companies Profiled

Xebec Adsorption Inc., Linde plc, Honeywell International Inc., SAMSON AG, Cabot Corporation, Mitsubishi Kakoki Kaisha, Ltd., Air Liquide, Peak Scientific Instruments., Universal Industrial Gases, Inc., NOVAIR INDUSTRIES, Hangzhou Tianli Air Separation Equipment Manufacturing Co., Ltd, PKU PIONEER, Cotting Industries, Inc., The Titus Company, GENERON, Toyo-Korea, Oxair, Oreco, WAGNER Group GmbH, and OXYMAT

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail of tailor-made purchase options to meet your research requirements.

Target Audience

  • Supply-side: Manufacturers, raw material suppliers, and distributors
  • Demand Side: Hydrogen Recovery and Purification, Oxygen Generation, Nitrogen Generation, Oil Refineries, Production of Ammonia, Semiconductor Plasma Process, and Others.
  • Regulatory Side: Concerned government authorities, and other regulatory bodies.