Global Air Separation Plant Market Size Worth USD 10.4 Billion by 2032 | CAGR Of 5.48%

Global Air Separation Plant Market Size Worth USD 10.4 Billion by 2032

According to a research report published by Spherical Insights & Consulting, the Global Air Separation Plant Market Size to grow from USD 6.1 Billion in 2022 to USD 10.4 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 5.48% during the forecast period.

Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the "Global Air Separation Plant Market Size By Process (Cryogenic, Non-cryogenic), By End-User (Iron & Steel, Oil & Gas, Chemical, Healthcare), By Region, And Segment Forecasts, By Geographic Scope And Forecast". Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/air-separation-plant-market

Air separation plants are the masters of gas separation. They divide ordinary air into its constituent gases, which are typically nitrogen, oxygen, and other gases. This skill is crucial for a wide range of industries that rely on certain gases in their operations. The ASP market is driven by the demand for industrial gases. Industries such as healthcare, chemicals, metallurgy, and electronics rely on gases such as oxygen and nitrogen for a variety of applications, and air separation plants are the go-to source. The healthcare industry's reliance on medicinal oxygen increases the demand for air separation plants dramatically. These plants play an important role in the production of medical-grade oxygen, which is necessary for respiratory treatment and other medical applications.

Air Separation Plant Market Value Chain Analysis

R&D centres are focused on the efficiency and environmental sustainability of air separation technology. They research innovative methods, materials, and process improvements to stay ahead in a competitive market. Industrial gases must be delivered to end users after they have been created. Distribution and logistics companies provide the safe and timely transfer of gases to various industries by utilising massive gas distribution networks. Industry, which employs the industrial gases produced by air separation plants for a variety of applications, is the final link in the value chain. Industries frequently require specific equipment for the successful use of industrial gases. Application-specific equipment manufacturers, such as medical oxygen concentrators and semiconductor gas control systems, contribute to the value chain.

Air Separation Plant Market Opportunity Analysis

The healthcare industry, particularly in underdeveloped countries, provides numerous prospects. The increasing demand for medical oxygen for respiratory therapy, surgeries, and medical treatments ensures that air separation plants will have a consistent market. As growing economies industrialise and expand economically, demand for industrial gases in industries such as chemicals, metallurgy, and manufacturing rises. This allows for the installation of air separation plants to meet expanding demand. Air separation plants for oxy-fuel combustion that are connected with the energy sector give environmental and efficiency benefits. As industry strives for greener operations, the need for oxygen in environmental applications is likely to rise. The rising popularity of hydrogen as a sustainable energy carrier offers up new opportunities for air separation plants.

Industry responds to rising customer demand for goods by expanding output. Industrial manufacturing industries such as automotive, electronics, and chemicals require industrial gases produced by air separation plants for a variety of activities. Steel demand is intimately tied to goods consumption since infrastructure development and construction projects create it. Air separation plants contribute to the booming metallurgical industry by supplying necessary oxygen for the steel making process. The growing use of consumer electronics fuels growth in the electronics manufacturing sector. Air separation plants aid in semiconductor production and other electronics manufacturing processes by supplying ultra-pure gases.

Insights by Process

The cryogenic segment accounted for the largest market share over the forecast period 2023 to 2032. Cryogenic technology is particularly good in producing nitrogen and argon, two important industrial gases used in a wide range of applications. Cryogenic air separation is in high demand since these gases are used in sectors such as chemistry, metallurgy, and electronics. The need for industrial gases is increasing as global industrialization develops. Cryogenic air separation systems address the demands of rising industrial activity by producing large amounts of high-purity gases. The electronics and semiconductor sectors, which require ultra-pure gases, benefit from cryogenic air separation. This section provides the exact gas purity needed for semiconductor production methods.

Insights by End User

The iron and steel segment accounted for the largest market share over the forecast period 2023 to 2032. The iron and steel industry heavily relies on oxygen in blast furnaces to burn coke and other fuels. Air separation plants are crucial in supplying the massive volumes of oxygen required for this critical step in iron manufacture. The iron and steel segment is influenced by the increase in steel demand, which is being driven by infrastructure development and construction projects. Air separation plants are crucial for meeting the steel industry's growing demand for industrial gases. Air separation plants contribute in the decrease of energy use in the iron and steel industry. The use of oxygen from air separation plants improves combustion process efficiency, which contributes to energy savings.

Insights by Region

North America is anticipated to dominate the Air Separation Plant Market from 2023 to 2032. North America is a big industrial hub with diverse industries such as automotive, aerospace, chemicals, and electronics. These industries' demand for industrial gases contributes considerably to the growth of the ASP market. Industrial gases are employed in the energy industry of the region, which includes power generation and oil refining. Air separation plants are crucial in creating oxygen for combustion processes, hence assisting the energy sector in meeting industrial gas demand. The North American healthcare business utilises a substantial amount of medical oxygen. The growing demand for healthcare services, as well as the requirement for medical-grade oxygen, offer opportunities for the ASP business.

Asia Pacific is witnessing the fastest market growth between 2023 to 2032. The Asia-Pacific region is a manufacturing powerhouse, with industries such as automobiles, electronics, chemicals, and steel flourishing. The ASP market is being propelled forward by increased demand for industrial gases from various sectors. The Asia-Pacific healthcare industry is expanding, which increases the demand for medical oxygen. Air separation plants are crucial in supplying medical-grade oxygen to hospitals and healthcare facilities.  China and India, two Asia-Pacific developing economies, are rapidly industrialising. The need for industrial gases in these expanding markets presents significant opportunities for the ASP sector.

Recent Market Developments

• In March 2022, INOX Air Products Ltd announced the award of a contract to construct India's largest Greenfield Oxygen Plant at the Steel Authority of India's (SAIL) Bokaro plant in Jharkhand.

Major players in the market

• Air Liquide S.A.
• Linde AG
• Messer Group GmbH
• Air Products and Chemicals, Inc.
• E Taiyo Nippon Sanso Corporation
• Praxair, Inc.
• Oxyplants
• AMCS Corporation

Market Segmentation

This study forecasts revenue at global, regional, and country levels from 2023 to 2032.

Air Separation Plant Market, Process Analysis

• Cryogenic
• Non-cryogenic

Air Separation Plant Market, End User Analysis

• Iron & Steel
• Oil & Gas
• Chemical
• Healthcare

Air Separation Plant Market, Regional Analysis

• North America 
• US 
• Canada 
• Mexico 
• Europe 
• Germany 
• UK
• France 
• Italy 
• Spain 
• Russia 
• Rest of Europe 
• Asia Pacific 
• China 
• Japan 
• India 
• South Korea 
• Australia 
• South America 
• Brazil 
• Argentina 
• Colombia 
• Middle East & Africa 
• UAE 
• Saudi Arabia 
• South Africa

About the Spherical Insights & Consulting

Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.

Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements. 

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