Pressure Swing Adsorption (PSA) Market 2024 – Market Size & Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Forecast 2034

Pressure swing adsorption (PSA) is a term used for the separation of gases under pressure that enables absorbing some components while passing through other ones. In PSA, gas mixtures are pumped through an adsorbent material at a high pressure. Adsorption is a process of selective capture of some of the gas molecules which results in the separation of the desirable components from the mixture. Once the adsorbent is filled with these captured molecules, the pressure reduces making the adsorbent to discharge the gases. This process is known as "pressure swing adsorption" which facilitates the isolation and purification of gases including hydrogen, oxygen, nitrogen and CO2.

PSA is widely utilized in many industries such as healthcare, chemical, petroleum refining, and environmental control for several applications that require very pure gases. There are wide benefits associated with it too such as high selectivity, operational flexibility, energy efficiency and scalability that makes it a preferred option for the synthesis of high purity gases. Global PSA market is experiencing continuous growth thanks to technology breakthroughs in gas separation and rising demand from different industries. The growing demand for industrial gases, particularly in the fields of healthcare, chemicals, and electronics manufacturing, is the main driver of the market growth.

The pressure swing adsorption (PSA) market is anticipated to reach USD XXX.X million by 2034 from USD XXX.X million in 2023, at a CAGR of XX.X% during the forecast period.

Many governments across the world have imposed stringent environmental regulations which has ended up forcing industries to use only green and environment friendly technologies like PSA in purifying gas and for controlling emissions. In addition, the PSA technology keeps on being improved, including the use of new adsorbents and process optimization methods. As a result, the gas separation processes are being made more effective and reliable, which is anticipated to additionally expand the PSA market during the forecast years 2024-2034.

Growth Drivers:

The increasing industrialization and urbanization around the world have resulted in a rising demand for industrial gases in different sectors like healthcare, chemical, oil & gas, and electronics & semiconductors among others. PSA technology provides an efficient and cost-effective way of producing and purifying industrial gases like nitrogen, oxygen, hydrogen and carbon dioxide which makes it a very popular option for use in industries needing high grade gases used in various applications.

Strict environmental regulations that are concerned with the decrease of emissions while improving air quality have a decisive point in the adoption of PSA technology for gas purification and emission control. Governments and regulatory bodies all over the world are setting tough limits on pollutant emissions from industrial processes, which is making industries to invest in advanced gas separation and purification technologies like PSA. Compliance to regulatory standards implies the need for efficient and economical solutions, which turn into a driving force for the use of PSA systems.

The steadily growing demand for renewable energy resources as well as the transitioning to the low-carbon economy is stimulating PSA technology usage in multiple renewable energy applications including biogas upgrading and carbon capture and storage (CCS). The PSA systems are the vital instruments in capturing and purifying the greenhouse gases like carbon dioxide from the industrial processes and waste streams, which leads to the mitigation of climate change and the reduction of the environmental pollution.

Endless innovations in PSA technology by making use of newer adsorbents, better process designs, and optimization methods have improved the performance, reliability, and scalability of PSA systems. The technological advances provide higher efficiency, lower utilization of energy and the best grade of selectivity in the processes of gas separation, which makes PSA an attractive choice of many applications in various industries.

Pressure Swing Adsorption (PSA) Market Segmentation:

By Type:

·         Double Stage PSA

·         Rapid PSA

 By Gas Type:

·         Nitrogen PSA Systems

·         Oxygen PSA Systems

·         Hydrogen PSA Systems

·         Carbon Dioxide PSA Systems

By Adsorption Media:

·         Carbon Molecular Sieve (CMS)

·         Zeolite

·         Others

By Application:

·         Industrial Gas Production

·         Medical Gas Production

·         Hydrogen Purification

·         Carbon Capture and Storage (CCS)

·         Semiconductor Plasma Process

·         Others

By End-User Industry:

·         Chemical

·         Healthcare

·         Electronics & Semiconductor

·         Oil & Gas

·         Others

By Region:

·         North America

·         Europe

·         Asia Pacific

·         Latin America

·         Middle East and Africa

Pressure Swing Adsorption (PSA) Market by Type Review:

Based on the type, the pressure swing adsorption (PSA) market is segmented into two segments including double stage PSA, and rapid PSA. On the basis of type, the double stage PSA segment is expected to dominate the market in terms of market share, while the rapid PSA segment is predicted to grow at the highest rate in terms of CAGR during the forecast period.

Pressure Swing Adsorption (PSA) Market by Gas Type Review:

Based on the gas type, the market is segmented into nitrogen PSA systems, oxygen PAS systems, hydrogen PSA systems, and carbon dioxide PSA systems. On the basis of gas type, the XXXX segment is expected to be the largest in terms of market share, while the XXXX segment is predicted to grow at the highest rate in terms of CAGR during the forecast period.

Pressure Swing Adsorption (PSA) Market by Adsorption Media Review:

Based on the adsorption media, the market is segmented into carbon molecular sieve (CMS), zeolite, and others. On the basis of adsorption media, the XXXX segment is expected to be the largest in terms of market share, while the XXXX segment is predicted to grow at the highest rate in terms of CAGR during the forecast period.

Pressure Swing Adsorption (PSA) Market by Application Review:

Based on the application, the market is segmented into industrial gas production, medical gas production, hydrogen purification, carbon capture and storage (ccs), semiconductor plasma process, and others. On the basis of application, the industrial gas production segment is expected to be the largest in terms of market share, while the hydrogen purification segment is predicted to grow at the highest rate in terms of CAGR during the forecast period.

Pressure Swing Adsorption (PSA) Market by End-User Industry Review:

Based on the end-user industry, the market is segmented into chemical, healthcare, electronics & semiconductor, oil & gas, and others. On the basis of end-user industry, the oil & gas segment is expected to be the largest in terms of market share, while the healthcare segment is predicted to grow at the highest rate in terms of CAGR during the forecast period.

Regional Outlook:

The pressure swing adsorption (PSA) market research report offers detailed analysis and forecasts for five major regions i.e., North America, Europe, Asia Pacific (APAC), Latin America, and the Middle East & Africa.

The North America region is forecasted to dominate the global pressure swing adsorption (PSA) market followed by Asia Pacific, Europe, Latin America, and Middle East & Africa during the forecast period 2023-2030.

The North America region continues to hold its top position in the global pressure swing adsorption (PSA) market with projected market share of XX%. X% in 2023. The regional pressure swing adsorption (PSA) market is mainly driven by the advanced technological infrastructure, the stringent regulatory frameworks, and the strong focus on sustainability across industries. The area is populated by some of the most prominent PSA technology companies that are pushing the frontiers of innovation and market growth. In North America, the main trends determining the PSA market are clean energy solutions development, especially in relation to natural gas processing and emission control. Moreover, the development of medical gas purification technology is also a major factor which is leading to the increased use of PSA in the healthcare sector, which is expected to continue to drive the market in the region during the forecast period 2024-2034.

North America holds a considerable chunk of the global PSA market as a result of the presence of major market players, leading research institutions, as well as having a strong base for technological innovation.

The two main contributors to the PSA market in North America are the United States and Canada, where the industries of healthcare, energy, manufacturing, and environmental sustainability exist.

The strong industrial infrastructure in North America, especially in the areas of healthcare, chemicals, electronics & semiconductors, and oil & gas, creates the need for industrial gases and drives the adoption of PSA technology for gas purification and separation.

Moreover, sectors like renewable energy, hydrogen production and carbon capture present a new direction for growth in the regional PSA market, as companies are exploring solutions to meet the demand of ever changing markets and addressing environmental challenges that are to be a propeller of this market growth in the region during the forecast period of 2024-2034.

The Asia Pacific region is the fastest growing region in the pressure swing adsorption (PSA) market which is facilitated by the rapid industrialization, urbanization and the growing energy consumption. Countries such as China, India, and Japan play a crucial role in the growth of the market in the region. Moreover, the Asia Pacific region is experiencing a rise in the demand for PSA systems in industrial gas separation, hydrogen production, and air purification applications. Besides technological developments and expansion in health and chemical industries, the market growth is accelerated. On the other hand, the rise of investments in the field of infrastructure development, high awareness regarding environmental sustainability and government initiatives to encourage clean energy solutions are predicted to provide more market growth in the Asia Pacific region during the forecast period of 2024-2034.

Key Companies in Pressure Swing Adsorption (PSA) Market:

The research report offers a competitive analysis of prominent companies operating in the pressure swing adsorption (PSA) market. Some of the leading players profiled in the market research report include:

·         Linde plc 

·         Honeywell International Inc.

·         SAMSON AG

·         Atlas Copco

·         On Site Gas Systems, Inc.

·         Peak Scientific Instruments

·         Universal Industrial Gases, Inc.

·         Novair SAS

·         Hangzhou Tianli Air Separation Equipment Manufacturing Co., Ltd 

·         GENERON

·         OXYMAT

·         OXAIR

·         Oreco A/S 

·         IVYS

·         Other Players