According to the new market research report “Air Separation Plant Market by Process (Cryogenic, Non-Cryogenic), Gas (Nitrogen, Oxygen, Argon), End User (Iron & Steel, Oil & Gas, Chemical, Healthcare), Region - Global Forecast to 2026”, published by MarketsandMarkets™, the global air separation plant market is projected to reach USD 7.27 Billion by 2026, at a CAGR of 5.3% from 2016 to 2026.
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The global air separation plant market is driven by the strong growth in the demand for industrial and specialty gases across various end-use sectors, especially iron & steel, healthcare, oil & gas, and energy. Advancements in terms of product innovations and technologies in the market are also expected to create strong investment opportunities for global players. The high cost of gas processing is a major challenge, whereas fluctuating demand patterns and advancements of alternative technologies are expected to be the burning issues for the market.
Iron & steel is the largest end user segment of the global air separation plant market
Based on end users, the air separation plant market has been segmented into iron & steel, oil & gas, chemical, healthcare, and others. The iron & steel segment accounted for the largest share of the air separation plant market in 2015; however, the oil & gas segment is projected to be the fastest-growing segment from 2016 to 2021. Air separation plants have various applications in the oil & gas industry, including oil recovery, leak testing, and so on.
Browse and in-depth TOC on “Air Separation Plant Market”
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Cryogenic process was the largest process segment of the air separation plant market
Based on process, the air separation plant market has been segmented into cryogenic and non-cryogenic. Cryogenic process is the most common air separation process and is projected to grow at the highest CAGR during the forecast period. Cryogenic air separation processes are used in medium to large scale plants to produce nitrogen, oxygen, argon, and other atmospheric gases in liquid or gaseous form.
The Asia-Pacific region was the largest market for air separation plants in 2015
Asia-Pacific was the largest market for air separation plants in 2015, owing to the increase in demand for the air separation plants in this region. The growth in the Asia-Pacific region can be attributed to the growth of the metal fabrication and electronic industries in countries such as Japan, China, and India.
The key players operational in the air separation plant market include Air Liquide S.A. (France), Linde AG (Germany), Praxair, Inc. (U.S.), Air Products and Chemicals, Inc. (U.S.), Taiyo Nippon Sanso Corporation (Japan), Messer Group GmbH (Germany), Universal Industrial Gases (U.S.), Enerflex Ltd. (Canada), and Technex Ltd. (Ukraine), among others.
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