Overview
Market Research Future (MRFR) projects the global air separation plants market Share to reach USD 9.5 Billion, registering a CAGR of 5% from 2022-2030 (forecast period).
The global air separation plants market is driven by increase in the demand for industrial & specialty gases along with innovative technologies. These factors have helped shape the air separation plants market and are expected to boost the growth. Companies in the air separation plants market could also face challenges such as high cost and lack of infrastructure. The details covered in the air separation plants market report cover all the aspects of the industry. Air separation plants market analysts have also shared growth projections in the report and have suggested air separation plants market players to plan growth strategies accordingly.
Additionally, the spurting growth in end-use applications such as chemical, oil & gas industry, paper, metallurgy, and others boost market growth. Moreover, increasing investments and integration of advanced technologies in offshore and onshore drilling activities influence the growth of the market. Furthermore, substantial investments in the developments of techniques and air separation plants process push the growth of the market.
However, the cost of electricity is the most significant operating cost incurred in air separation plants. Moreover, high prices of laser and infrared technology-based devices used in the plants as more accurate and efficient solutions incur substantial expenses, increasing the overall value of the air separation plants. These are the significant factors projected to impede the growth of the market. Nevertheless, technological innovations expected in the recent future would support market growth throughout the review period.
Numerous Factors Boosting the Market Growth
The worldwide air separation plant industry is very dynamic and is predicted to develop rapidly over the forecast period. Product breakthroughs and technology have an impact on the growth of the air separation plant market. In addition, 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 prosperity. Some industrial gases, such as nitrogen, LNG, oxygen, argon, and liquefied petroleum gas, are condensed under high pressure to facilitate storage and transportation. It is utilized in numerous industries, including steelmaking, pharmaceuticals, petrochemicals, and food and beverages. Furthermore, rapid industrialization in developing economies increased usage of industrial gases in the solar PV industry, and the development of innovative technologies are predicted to drive market demand throughout the projection period.
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Market Segmentation
The worldwide air separation plants industry has been segmented into type, process, gas, and application.
- By type, the worldwide air separation plants market has been segmented into Under 20000 m3/h, 20,000-40,000 m3/h, 40,000-80,000 m3/h, and More Than 80,000 m3/h.
- By process, the global air separation plants market has been segmented into Cryogenic Distillation Process and Non-Cryogenic Distillation Process.
- By gas, the worldwide air separation plants market has been segmented into Nitrogen, Oxygen, and others.
- By application, the worldwide air separation plants market has been segmented into Chemical, Oil & Gas Industry, Paper, Metallurgy, and others.
Regional Overview
APAC to Lead the Global Market
The Asia Pacific led the global market in 2018, followed by North America and Europe. In the Asia Pacific, there is an increasing need for high-purity industrial gases from end-use sectors such as the oil and gas industry, chemicals, and petrochemicals. In addition, the Asia Pacific region's need for air separation plants is being driven by stringent safety and environmental rules 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 North America is investing in a new gasification train as well as ancillary equipment and facilities. During the projection period, this is likely to enhance demand for air separation plants in the region.
Europe to Witness Growth in the Global Market
Europe is regarded as one of the most important markets for air separation plants in areas such as process and gas. European governments, such as those in France and Germany, invest heavily in infrastructure as well as in current technology innovations aimed at lowering capital costs and increasing process efficiency. For example, a European supplier of industrial and medical gas products offers ULTRA-AL merchant air separation plants. This has an impact on the demand for air separation plants in the region.
Market Key Players:
Air Separation Plants Market Players include-
- Linde AG
- Air Liquide SA
- Praxair, Inc.
- Air Products and Chemicals, Inc.
- Taiyo Nippon Sanso Corporation
- Messer Group GmbH
- Universal Industrial Gases
- Enerflex Ltd.
- Technex Ltd.
- Gas Engineering LLC.
Industry News
Air Liquide will obtain the world's largest manufacturing site for oxygen from the integrated oil and chemical firm Sasol in Secunda, South Africa. This means that the 16 air separation units (16) mostly on site with a generation capacity of 42,000 tonnes a day of oxygen will be run by the French industrial gases company, in comparison to the device already working today.
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