An air separation plant is a facility that uses cryogenic distillation to produce industrial gases. The gases produced are oxygen, nitrogen, and argon. The demand for air separation plants mainly depends on the demand for industrial gases. These plants are used in a variety of industries including steel, petrochemical, oil refineries, and chemical plants. They are also used to produce high-purity oxygen for medical and industrial applications. The demand for air separation plants is expected to grow as more industries require high-purity gases for their operations.
The global air separation plant market size is expected to reach USD 5.9 billion by 2026, according to a new report by MarketsandMarkets™. It is expected to expand at a CAGR of 4.9% over the forecast period. The surge in the demand for industrial gases such as oxygen, nitrogen, and argon across various end-use industries, such as chemicals, energy, and healthcare, is projected to drive the growth.
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The growing demand for industrial gases in the energy sector is anticipated to drive the demand for air separation plants. The increasing demand for natural gas and the growing focus on renewable energy sources have resulted in an increase in the demand for energy. This, in turn, is expected to drive the demand for air separation plants in the energy sector. The increasing demand for industrial gases in the healthcare sector is also expected to contribute to the growth of the air separation plant market. The growing demand for medical oxygen for the treatment of patients with respiratory disorders and the increasing demand for respiratory therapy equipment is expected to drive the demand for air separation plants.
On the basis of process, the cryogenic process segment is projected to grow at the highest CAGR from 2021 to 2026.
The cryogenic process is a relatively newer process and is growing at a faster rate due to its high efficiency and relatively less energy consumption compared to other processes. This process is suitable for large-scale production of oxygen and nitrogen, as it offers higher levels of purity of these gases. Moreover, the cryogenic process is generally used for the production of large quantities of gases, since it is more economical compared to other processes. Additionally, the cryogenic process offers a higher degree of automation, which increases overall efficiency. This, in turn, makes it an attractive option for the production of oxygen and nitrogen.
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Among gas types, the Nitrogen segment is projected to grow at the highest CAGR from 2021 to 2026.
Nitrogen is one of the most sought-after gases in the air separation plant market due to its wide range of applications in the food and beverage, pharmaceutical, chemical, and oil and gas industries. Nitrogen is used for blanketing, purging, and inserting, as well as for cooling, pressurizing, and transferring processes. Due to its inert nature, nitrogen is an ideal choice for preventing oxidation, corrosion, and microbial growth. In addition, nitrogen is extensively used in the food industry, as it helps to extend shelf life and improve product safety. This is expected to drive the demand for nitrogen in the air separation plant market. The rising demand for nitrogen in these various industries is expected to drive the growth of the nitrogen segment in the air separation plant market during the forecast period.
Among end-use industries, the iron & steel segment is projected to grow at the highest CAGR from 2021 to 2026.
The growing demand from the iron & steel industry is the primary factor driving the growth of the air separation plant market. The air separation plants are widely used in the production of oxygen, nitrogen, and other gases for various applications in the iron & steel industry. The gases are used for various processes such as oxy-fuel cutting, oxy-fuel welding, flame cleaning, and flame hardening. The increasing demand for iron & steel products, such as automotive components, construction materials, and others, is expected to propel the demand for air separation plants in the iron & steel industry during the forecast period.
Asia Pacific is expected to be the fastest-growing regional segment in the air separation plant market.
The Asia Pacific region is expected to be the fastest-growing market for air separation plants. This is due to the rapidly increasing demand for air separation plants in the region, driven by growing industrialization and urbanization. China and India are major contributors to the growth of the air separation plant market in this region, as they have seen a rapid rise in energy demand and increased manufacturing activities. The region is also witnessing an increase in investments from foreign companies, which is further driving the growth of the air separation plant market. Additionally, the region also offers lucrative opportunities to the air separation plant manufacturers due to its large pool of potential consumers.
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Linde Plc (UK), Air Liquide SA (France), Air Products and Chemicals, Inc. (US), Taiyo Nippon Sanso Corporation (Japan), Messer Group GmbH (Germany), Daesung Industrial Co., Ltd. (South Korea), Air Water Inc. (Japan), Enerflex Ltd. (Canada), Yingde Gases Group Co., Ltd. (Hong Kong), are among the key players leading the market through their innovative offerings, enhanced production capacities, and efficient distribution channels. Other noteworthy players included in this report are INOX Air Products Private Limited (India), Hangzhou Hangyang Co., Ltd. (China), Universal Industrial Gases, Inc. (US), Nikkiso Cosmodyne, LLC. (US), and SIAD Macchine Impianti S.p.A. (Italy).
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Get Free Sample Copy Of This Report @ https://www.upmarketresearch.com/home/requested_sample/6723 The Air Separation Equipment Market report published on Up Market Research is spread across 107 pages and provides an overview of the 2018-2025 of Air Separation Equipment Market Research Report by Product Type, End-User / Application and Regions / Countries.
The Global Air Separation Equipment Market is projected to grow at a healthy growth rate from 2018 to 2025 according to new research.
The study focuses on market trends, leading players, supply chain trends, technological innovations, key developments, and future strategies.
It also presents insights into various restraints that pose threat and highlights opportunities that will help the market pick pace in the forthcoming years.
The report compiles exhaustive information obtained via proven research methodologies and from trusted sources from within the industries.
It also includes expert opinions to provide readers a clearer perspective regarding the global market.
