Air Separation Plants Market worth USD 8.13 Billion by 2027, registering a CAGR of 5.89% – Report by Market Research Future (MRFR)
New York, Aug. 17, 2021 (GLOBE NEWSWIRE) — Air Separation Plants Market Overview: According to a comprehensive research report by Market Research Future (MRFR), “Air Separation Plants Market Research Report, Type, Process, Gas and Application and Region – Forecast till 2027” the market size is projected to be worth USD 8.13 Billion by 2027, registering a CAGR of 5.89% during the forecast period (2021 – 2027), The market was valued at USD 4.75 billion in 2020.
Several factors Contributing to Market Growth
The worldwide air separation plant market is very dynamic and is predicted to grow rapidly over the forecast period. Product breakthroughs and technologies have an impact on the growth of the air separation plant market. Furthermore, growth in demand for industrial and specialty gases has resulted in the Asia Pacific emerging as the fastest expanding area. Industrial gas is critical to the country’s progress. Some industrial gases, such as nitrogen, oxygen, argon, LNG, and liquefied petroleum gas, are condensed at high pressure to facilitate storage and transportation. It is utilized in several industries, including steelmaking, pharmaceuticals, petrochemicals, and food and beverages. Furthermore, rapid industrialization in emerging economies, increased usage of industrial gases in the solar PV industry, and the development of innovative technologies are projected to drive market demand throughout the projection period.
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Key Players
Notable players of the global air separation plants industry are –
- Linde AG
- Air Liquide SA
- Praxair Inc.
- Taiyo Nippon Sanso Corporation
- Technex Ltd.
- Messer Group GmbH
- Air Products and Chemicals Inc.
- Universal Industrial Gases
- Enerflex Ltd.
- Gas Engineering LLC.
Browse In-depth Market Research Report (143 pages) on Air Separation Plants
https://www.marketresearchfuture.com/reports/air-separation-plant-market-1997
Market Segmentation
The global air separation plants industry has been segmented based on type, process, gas, and application.
By type, the global air separation plants market has been divided into under 20000 m3/h, 20,000-40,000 m3/h, 40,000-80,000 m3/h, and more than 80,000 m3/h. In 2018, the worldwide market was led by the 20,000-40,000 m3/h segment and is anticipated to lead throughout the review period. The 20,000- 40,000 m3/h capacity type is utilized for air separation purposes. These are mainly used in the steel industry, heat treatment process, welding, pulp & paper industry, where certain gases that will react with and diminish the product are removed. This is expected to improve the demand for the 20,000- 40,000 m3/h capacity type air separation plants in the worldwide market during the forecast period.
Based on the process, the global air separation plants market has been segmented into the cryogenic distillation process and non-cryogenic distillation process. Among these processes, the cryogenic distillation process held the largest market share, followed by the non-cryogenic distillation process. Cryogenic distillation extracts oxygen from air by liquefying it at low temperatures. The cryogenic air separation process uses differences in boiling points to separate air and purify it into desirable gas supplies and liquid products such as oxygen, nitrogen, and argon. It is used in medium to large-scale factories to create gases or liquids of nitrogen, oxygen, and argon. Furthermore, all plants manufacturing liquefied industrial gas products use cryogenic technology process, which increased the global market size for air separation plants in 2018 and is likely to increase demand for cryogenic technology processes in the global market during the projection period.
By gas, the global air separation plants market has been segmented into nitrogen, oxygen, and others. In 2018, the oxygen segment led the market and projected to be dominant throughout the forecast period. The active, life-sustaining component of the atmosphere is oxygen (O2). It is colorless, odorless, and tasteless and has low water solubility. The steel industry is the largest consumer of oxygen. Furthermore, oxygen is used in a variety of metal refining and fabrication processes, including those used in chemicals, petroleum processing, pharmaceuticals, glass and ceramic manufacturing, and pulp and paper manufacturing.
By application, the global air separation plants market has been segmented into the chemical, oil & gas industry, paper, metallurgy, and others. In 2018, the metallurgy segment led the market and projected to be dominant throughout the forecast period. To increase the hardness of casting molds, gases function as a manufacturer. Furthermore, they are used to melt steel and other metals, as well as to act as a shielding gas in the heat treatment of iron, steel, and other metals. The steel and metal sector is the largest user of oxygen. They are used to cool heat-sensitive or delicate items at room temperature. As a result, during the forecast period, these aspects and features are likely to drive global market expansion for air separation plants.
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Regional Analysis
APAC to Lead the Global Market
The Asia Pacific led the global air separation plants market in 2018, followed by North America and Europe. In the Asia Pacific, there is a growing need for high-purity industrial gases from end-use sectors like the oil and gas industry, chemicals, and petrochemicals. Furthermore, the Asia Pacific region’s need for air separation plants is being driven by stringent safety and environmental regulations in the healthcare sector, as well as growing demand for photovoltaic products.
North America to Follow APAC
North America is known as one of the leading manufacturers and distributors of high purity oxygen, cylinder filling plants, and various gas generators for medical, industrial, and other applications. For example, Linde in North America is investing in a new gasification train as well as ancillary equipment and facilities. During the assessment period, this is likely to enhance demand for air separation plants in the region.
Segmentation of Market covered in the research:
Information by Type (Under 20000 m3/h, 20,000-40,000 m3/h, 40,000-80,000 m3/h and More Than 80,000 m3/h), Process (Cryogenic Distillation Process and Non-Cryogenic Distillation Process), Gas (Nitrogen, Oxygen and others), Application (Chemical, Oil & Gas Industry, Paper, Metallurgy and others) and Region (North America, Europe & Asia-Pacific))
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