Pressure Swing Adsorption (PSA) Market Size, Forecast [2031]
Pressure Swing Adsorption (PSA) Market Size, Forecast [2031]
Segments - Pressure Swing Adsorption (PSA) Market by Type (Double Stage PSA and Rapid PSA), By Application (Hydrogen Recovery and Purification, Oxygen Generation, Nitrogen Generation, Oil Refineries, Production of Ammonia, Semiconductor Plasma Process, and Others), and Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028
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Report Description
Pressure Swing Adsorption Market Outlook
The global Pressure Swing Adsorption (PSA) market size was valued at USD 17,678.6 Million in 2020 and is projected to reach USD 29,117.1 Million by 2028, expanding at a CAGR of 6.6% during the forecast period, 2021-2028. 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.
Scope of Pressure Swing Adsorption Market
The report on the Global Pressure Swing Adsorption (PSA) Market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
Pressure Swing Adsorption (PSA) Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast |
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Base Year |
2020 |
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Historic Data |
2018–2019 |
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Forecast Period |
2021–2028 |
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Segmentation |
Type (Double Stage PSA, Rapid PSA), Application (Hydrogen Recovery and Purification, Oxygen Generation, Nitrogen Generation, Oil Refineries, Production of Ammonia, Semiconductor Plasma Process, Others) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
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Key Players Covered |
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 |
Pressure Swing Adsorption Market Dynamics
Major Drivers
Growing Demand for High Purity Gases
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.
Low Maintenance Costs
The pressure swing adsorption companies require less maintenance cost to operate. PSA is a cost-effective solution, by which industrial gases are collected. It saves time and investment of manufacturers, which in turn drives the market.
Equipment consumes less energy, if maintained regularly, which leads to the entry of new entrants and rise in revenue of manufacturers. Thus driving the market during the forecast period.
Existing Restraints
High Gas Loss during Desorption
High gas loss resulting from the pressure release during desorption impedes the market. Furthermore, other techniques available, such as membrane process and cryogenics process, are suitable for large-scale production of gases of high purity. Maximum inlet air pressure for PSA is lesser than that of membrane inlet pressure. These factors are expected to hamper the market in the coming years.
High Level of Electricity to Achieve High Pressure
High electricity requirement to achieve high pressure restrains the market. To create high pressure during the process of segregation of different gas components from gaseous mixture requires high operational cost, which is projected to hamper the market during the forecast period.
Consumption of high voltage of electricity increases operational costs, as high pressure is required to generate pure gases, which hinders the pressure swing adsorption market.
Pressure Swing Adsorption (PSA) Market Segment Insights
Type Segment Analysis
Based on type, 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 plto invest USD4 million in four national lab-led R&D programs to find novel concepts and technologies for manufacturing oxygen.
Application Segment Analysis
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.
The oxygen generation segment is projected to expand at a significant CAGR during the forecast period, due to the growing adoption of pressure swing adsorption by the healthcare industry for managing their daily medical oxygen requirement.
For instance, according to the World Health Organization, oxygen is a life-saving drug that cannot be substituted. Respiratory disorders such as COVID-19 and pneumonia are treated with oxygen by healthcare specialists. Surgery and trauma require oxygen as well. The elderly, pregnant women, and newborns all require oxygen therapy on a regular basis.
Regional Outlook
Based on regions, the global Pressure Swing Adsorption (PSA) is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. 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. The market in Europe is expected to grow during the forecast period, owing to rising investments in PSA technology by the countries in the region.
Significant growth in urbanization and commercial sectors is driving the market. Increasing demand for pressure swing adsorption by manufacturers in these sectors is expected to boost the market in the coming years.
Key Benefits for Industry Participants & Stakeholders
- In-depth Analysis of the Global Pressure Swing Adsorption (PSA) market
- Historical, Current and Projected Market Size in terms of Value and Volume
- Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
- Industry Drivers, Restraints and Opportunities Covered in the Study
- Recent Industry Trends and Developments
- Competitive Landscape & Strategies of Key Players
- Neutral Perspective on Global Pressure Swing Adsorption (PSA) Market Performance
Segments
Types
- Double Stage PSA
- Rapid PSA
Application
- Hydrogen Recovery and Purification
- Oxygen Generation
- Nitrogen Generation
- Oil Refineries
- Production of Ammonia
- Semiconductor Plasma Process
- Others
Regions
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Key Market Players
- 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.
- GENERON
- Toyo-Korea
- Oxair
- Oreco
- WAGNER Group GmbH
- OXYMAT
- PARKER HANNIFIN CORP
- Air Products Inc.
- Atlas Copco AB
- Hitachi
- Ingersoll Rand
- INMATEC GaseTechnologie GmbH & Co. KG
- NGK Spark Plug Co Ltd
- Invacare Corporation
- TEIJIN LIMITED
- AIR WATER INC
- Messer Group
Competitive Landscape
Top players in the market 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.
These companies are considered as key manufacturers of a piezoelectric element based on their revenue, product offerings, regional presence, and supply chain management system.
The players are adopting key strategies such as acquisition, collaborations, and geographical expansion where the potential opportunity for the Pressure Swing Adsorption (PSA) market.
Frequently Asked Questions
Additional company profiles can be provided on request
According to this Growth Market Reports report, the Pressure Swing Adsorption (PSA) market is likely to register a CAGR of 6.6% during the forecast period 2020-2027, with an anticipated valuation of USD 29,117.1 Mn by the end of 2028.
In addition to market size (in US$ Million), Company Market Share (in % for the base year 2020), and quality parameter overview is provided.
Factors such as competitive strength and market positioning are key areas considered while selecting top companies to be profiled.
Increasing technological advancements in Pressure Swing Adsorption (PSA), growing demand for high purity gases are expected as a driving force for the market during the forecast period.
The major applications of Pressure Swing Adsorption (PSA) are hydrogen recovery and purification, oxygen generation, nitrogen generation, oil refineries, production of ammonia, semiconductor plasma process, and others.
The market is expected to witness a significant decrease in growth between 2019 and 2020 owing to the COVID 19 pandemic on the Pressure Swing Adsorption (PSA) market.
The base year considered for the global Pressure Swing Adsorption (PSA) market report is 2020. The complete analysis period is 2018 to 2028, wherein, 2018, and 2019 are the historic years, and the forecast is provided from 2021 to 2028.
Factors such as industrialization, GDP, technological innovations, government regulations, and investment are expected to act as a driving force for the market.
Major Manufacturers 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., and NOVAIR INDUSTRIES.
Table Of Content
Chapter 1 Executive SummaryChapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Pressure Swing Adsorption (PSA) Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Pressure Swing Adsorption (PSA) Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Pressure Swing Adsorption (PSA) Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Pressure Swing Adsorption (PSA) Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Pressure Swing Adsorption (PSA) Market Size & Forecast, 2018-2028
4.5.1 Pressure Swing Adsorption (PSA) Market Size and Y-o-Y Growth
4.5.2 Pressure Swing Adsorption (PSA) Market Absolute $ Opportunity
4.6 Pricing Analysis & Forecast, By Type, 2018-2028
4.7 Global Pressure Swing Adsorption (PSA) Market: Impact Of Key Regulations
4.8 Technological Landscape
4.9 Purity Required for Applications and Component Analysis
Chapter 5 Global Pressure Swing Adsorption (PSA) Market Analysis and Forecast By Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities By Type
5.1.2 Basis Point Share (BPS) Analysis By Type
5.1.3 Absolute $ Opportunity Assessment By Type
5.2 Pressure Swing Adsorption (PSA) Market Size Forecast By Type
5.2.1 Double Stage PSA
5.2.2 Rapid PSA
5.3 Market Attractiveness Analysis By Type
Chapter 6 Global Pressure Swing Adsorption (PSA) Market Analysis and Forecast By Application
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities By Application
6.1.2 Basis Point Share (BPS) Analysis By Application
6.1.3 Absolute $ Opportunity Assessment By Application
6.2 Pressure Swing Adsorption (PSA) Market Size Forecast By Application
6.2.1 Hydrogen Recovery and Purification
6.2.2 Oxygen Generation
6.2.3 Nitrogen Generation
6.2.4 Oil Refineries
6.2.5 Production of Ammonia
6.2.6 Semiconductor Plasma Process
6.2.7 Others
6.3 Market Attractiveness Analysis By Application
Chapter 7 Global Pressure Swing Adsorption (PSA) Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Pressure Swing Adsorption (PSA) Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Pressure Swing Adsorption (PSA) Analysis and Forecast
9.1 Introduction
9.2 North America Pressure Swing Adsorption (PSA) Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Pressure Swing Adsorption (PSA) Market Size Forecast By Type
9.6.1 Double Stage PSA
9.6.2 Rapid PSA
9.7 Basis Point Share (BPS) Analysis By Type
9.8 Absolute $ Opportunity Assessment By Type
9.9 Market Attractiveness Analysis By Type
9.10 North America Pressure Swing Adsorption (PSA) Market Size Forecast By Application
9.10.1 Hydrogen Recovery and Purification
9.10.2 Oxygen Generation
9.10.3 Nitrogen Generation
9.10.4 Oil Refineries
9.10.5 Production of Ammonia
9.10.6 Semiconductor Plasma Process
9.10.7 Others
9.11 Basis Point Share (BPS) Analysis By Application
9.12 Absolute $ Opportunity Assessment By Application
9.13 Market Attractiveness Analysis By Application
Chapter 10 Europe Pressure Swing Adsorption (PSA) Analysis and Forecast
10.1 Introduction
10.2 Europe Pressure Swing Adsorption (PSA) Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Pressure Swing Adsorption (PSA) Market Size Forecast By Type
10.6.1 Double Stage PSA
10.6.2 Rapid PSA
10.7 Basis Point Share (BPS) Analysis By Type
10.8 Absolute $ Opportunity Assessment By Type
10.9 Market Attractiveness Analysis By Type
10.10 Europe Pressure Swing Adsorption (PSA) Market Size Forecast By Application
10.10.1 Hydrogen Recovery and Purification
10.10.2 Oxygen Generation
10.10.3 Nitrogen Generation
10.10.4 Oil Refineries
10.10.5 Production of Ammonia
10.10.6 Semiconductor Plasma Process
10.10.7 Others
10.11 Basis Point Share (BPS) Analysis By Application
10.12 Absolute $ Opportunity Assessment By Application
10.13 Market Attractiveness Analysis By Application
Chapter 11 Asia Pacific Pressure Swing Adsorption (PSA) Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Pressure Swing Adsorption (PSA) Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Pressure Swing Adsorption (PSA) Market Size Forecast By Type
11.6.1 Double Stage PSA
11.6.2 Rapid PSA
11.7 Basis Point Share (BPS) Analysis By Type
11.8 Absolute $ Opportunity Assessment By Type
11.9 Market Attractiveness Analysis By Type
11.10 Asia Pacific Pressure Swing Adsorption (PSA) Market Size Forecast By Application
11.10.1 Hydrogen Recovery and Purification
11.10.2 Oxygen Generation
11.10.3 Nitrogen Generation
11.10.4 Oil Refineries
11.10.5 Production of Ammonia
11.10.6 Semiconductor Plasma Process
11.10.7 Others
11.11 Basis Point Share (BPS) Analysis By Application
11.12 Absolute $ Opportunity Assessment By Application
11.13 Market Attractiveness Analysis By Application
Chapter 12 Latin America Pressure Swing Adsorption (PSA) Analysis and Forecast
12.1 Introduction
12.2 Latin America Pressure Swing Adsorption (PSA) Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Pressure Swing Adsorption (PSA) Market Size Forecast By Type
12.6.1 Double Stage PSA
12.6.2 Rapid PSA
12.7 Basis Point Share (BPS) Analysis By Type
12.8 Absolute $ Opportunity Assessment By Type
12.9 Market Attractiveness Analysis By Type
12.10 Latin America Pressure Swing Adsorption (PSA) Market Size Forecast By Application
12.10.1 Hydrogen Recovery and Purification
12.10.2 Oxygen Generation
12.10.3 Nitrogen Generation
12.10.4 Oil Refineries
12.10.5 Production of Ammonia
12.10.6 Semiconductor Plasma Process
12.10.7 Others
12.11 Basis Point Share (BPS) Analysis By Application
12.12 Absolute $ Opportunity Assessment By Application
12.13 Market Attractiveness Analysis By Application
Chapter 13 Middle East & Africa (MEA) Pressure Swing Adsorption (PSA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Pressure Swing Adsorption (PSA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Pressure Swing Adsorption (PSA) Market Size Forecast By Type
13.6.1 Double Stage PSA
13.6.2 Rapid PSA
13.7 Basis Point Share (BPS) Analysis By Type
13.8 Absolute $ Opportunity Assessment By Type
13.9 Market Attractiveness Analysis By Type
13.10 Middle East & Africa (MEA) Pressure Swing Adsorption (PSA) Market Size Forecast By Application
13.10.1 Hydrogen Recovery and Purification
13.10.2 Oxygen Generation
13.10.3 Nitrogen Generation
13.10.4 Oil Refineries
13.10.5 Production of Ammonia
13.10.6 Semiconductor Plasma Process
13.10.7 Others
13.11 Basis Point Share (BPS) Analysis By Application
13.12 Absolute $ Opportunity Assessment By Application
13.13 Market Attractiveness Analysis By Application
Chapter 14 Competition Landscape
14.1 Pressure Swing Adsorption (PSA) Market: Competitive Dashboard
14.2 Global Pressure Swing Adsorption (PSA) Market: Market Share Analysis, 2020
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Xebec Adsorption Inc.
14.3.2 Linde plc
14.3.3 Honeywell International Inc.
14.3.4 SAMSON AG
14.3.5 Cabot Corporation
14.3.6 Mitsubishi Kakoki Kaisha, Ltd.
14.3.7 Air Liquide
14.3.8 Peak Scientific Instruments.
14.3.9 Universal Industrial Gases, Inc.
14.3.10 NOVAIR INDUSTRIES
14.3.11 Hangzhou Tianli Air Separation Equipment Manufacturing Co., Ltd
14.3.12 PKU PIONEER
14.3.13 Cotting Industries, Inc
14.3.14 GENERON
14.3.15 Toyo-Korea
14.3.16 Oxair
14.3.17 Oreco
14.3.18 WAGNER Group GmbH
14.3.19 OXYMAT
14.3.20 PARKER HANNIFIN CORP
Methodology
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