The global air separation plant market is projected to reach USD 7.27 Billion by 2026, at a CAGR of 5.3% between 2016 and 2026. This growth of this market can be attributed to the growing demand from the metal fabrication industry in the developed economies, including the U.S. and the European countries, coupled with the increasing expenditure on iron & steel production and petrochemical industries in emerging economies including China, India, Brazil, South Africa, and the UAE.

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Air separation plants are used for purification of various components of air, in particular oxygen, nitrogen, argon, and sometimes other rare inert gases. For air separation, effective sizing and selection of separation equipment is always a combination of analytical modeling and empirical observation.

Air separation plants are manufactured depending on what gases are produced, capacity, and purity. The most apt process which has the least energy consumption and purchase price is selected without neglecting the requirement in the end-use specifications. Cryogenic and non-cryogenic are the two technologies that are used for air separation process, the most commonly used technology being the cryogenic process. Cryogenic technology is a process of high energy consumption.

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The emerging economies have been focusing on industrialization over the last few decades. Countries such as China, India, Indonesia, South Africa, and Brazil are transforming their economies from being agriculture-based to manufacturing- and other industries-based. With the emergence of new industries and technological developments in the manufacturing sector, the need for effective air separation plant has increased significantly. 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.

On the basis of end users, the air separation plant market has been categorized into iron & steel, oil & gas, chemical, healthcare, and others. The others segment includes food & beverage, glass, and coal gasification industries.

Iron & steel segment dominated the air separation plant market in 2015 with a share of around 60%. This segment is expected to continue its dominance in the coming years owing to the high demand from North America, South America, and Africa. Moreover, increasing demand for iron & steel products from developing countries in Asia-Pacific and the Middle Eastern regions for infrastructural development is also boosting the growth of the air separation plant market.

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The primary processes involved in air separation are cryogenic and non-cryogenic. Between 2016 and 2021, the cryogenic segment is projected to be the fastest-growing process segment owing to the high demand from the iron & steel industry. The reliability of cryogenic ASU technology is very high, often exceeding 99%, which has increased its demand from fabricated metals and alloys industry across the globe. In addition, increasing dependency on pure gases for enhancing end products and rapid industrialization are expected to drive this segment during the next five years.

In 2015, Asia-Pacific dominated the global air separation plant market, followed by North America and Europe. Asia-Pacific is also the fastest-growing air separation plant market. The air separation plant market is developed in North America and Europe, while in China, India, and other APAC countries, this market is projected to grow significantly from 2016 to 2021. These countries are transforming their economies from agriculture-based to manufacturing and other industry-based economies. The growth of the Asia-Pacific region is supplemented by the expansion of the metal fabrication industry, growth of the chemical and electronics sectors, coupled with the growing medical/healthcare industry in developing economies such as Indonesia, India, and China.

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