Industrial Oxygen Market is Expected to grow at a CAGR of 6% During Forecast Period 2020 to 2030
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Growing demand for high purity oxygen in the chemical industry to increase reaction rate and yield efficiency will amplify market growth during the forecast period.
These aforementioned factors are projected to fuel the global high purity oxygen market at a CAGR of 6%, surpassing a market valuation of US$ 44.5 Bn by 2030-end.
Key Takeaways from High Purity Oxygen Market Study
Industrial grade has remained the primary grade consumed by end-use industries, currently accounting for over three-fourth of global consumption.
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On the basis of supply, developed countries such as the United States, Germany, France, Belgium, the U.K., etc., are moving towards pipeline networks, which will drive this segment at a leading growth rate of 5% in the global high purity oxygen market.
Metal production and fabrication have driven the consumption of high purity oxygen during the historical period.
The medical & healthcare segment is set to create an absolute $ opportunity worth US$ 2 Bn by 2030.
China, being the largest steel and chemical producer, has driven the consumption of high purity oxygen, and currently accounts for over one-third of global consumption.
“The uncertain COVID-19 outbreak has skyrocketed the demand for medical grade oxygen, and this segment is poised to generate over 4 to 5 times more demand in 2020 as compared to 2019,”
says a Fact.MR analyst.
Widespread Gas Pipeline Network Emerging As Key Strategy of Market Titans
Increasing demand from end-use industries in order to sustain high profit margins in this competitive market, industrial giants have established huge pipeline networks to provide fast services to their consumers.
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This will not only help suppliers in the high purity oxygen market to maintain their margins but also provide end users with continuous reliable supply. For instance, Linde has established a pipeline network in its core regions, and in result, it supplies reliable and economic industrial gases to its high-end consumers.
In order to align with this market trend, Taiyo Nippon Sanso Corporation successfully established a new underground piping network in 2019, which spans 20 kms in Vietnam’s southern region.
The report answers important questions which include:
• Why is player leading the Industrial Oxygen Market in region?
• Which factors pose a negative impact on the Industrial Oxygen Market growth?
• What was the value registered by the Industrial Oxygen Market in 2018?
• What challenges do the Industrial Oxygen Market players face during R&D stages?
• Which countries contribute a significant share to the total market revenue in region?
Full Access of this Exclusive Report is Available at- https://www.factmr.com/checkout/619
Key findings of the Market report:
• Prominent manufacturers, raw material suppliers, equipment providers, traders, and distributors in the Industrial Oxygen market.
• In-depth analysis of important market segments, market potential, impacting trends, and challenges.
• Critical examination of the strengths, weaknesses, opportunities and threats of each Market player.
• Extensive investigation of the effects of the growth of relevant industries.
• Accurate data regarding the future prospects of the Market during the forecast period.
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