Air Separation Plant Market worth $5.9 billion by 2026 | Key players Linde Plc, Air Liquide SA, Air Products and Chemicals, Inc., Taiyo Nippon Sanso Corporation, Enerflex Ltd.

According to recent market research the "Air Separation Plant Market by Process (Cryogenic, Non-cryogenic), Gas (Nitrogen, Oxygen, Argon, Others), End-Use Industry (Iron & Steel, Oil & Gas, Chemical, Healthcare, Others) and Region - Global Forecast to 2026", The global air separation plant market size is projected to grow from USD 4.5 billion in 2021 to USD 5.9 billion by 2026, at a CAGR of 4.9% from 2021 to 2026. The global market for air separation plants is driven by strong growth in demand, especially from the iron & steel, oil & gas, chemical, healthcare, and other end use industries.

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Cryogenic technology was commercialized in 1902 and has since been used extensively by companies across multiple industries that require gases such as nitrogen, oxygen, and others. Being the oldest air separation technology available, it has evolved considerably over the years, resulting in improved efficiency and high purity of yield gases. The growing demand for fabricated metals and alloys across the globe, the increasing dependency on pure gases for enhancing metal properties, and rapid industrialization are expected to drive the air separation plant market during the next five years.

The inert properties of nitrogen make it a good blanketing gas in many applications. Nitrogen blanketing is used to protect flammable or explosive solids and liquids from contact with air. Certain chemicals, surfaces of solids, and stored food products have properties that must be protected from degradation by the effects of atmospheric oxygen and moisture; This is achieved by keeping these items in a nitrogen-enriched atmosphere.

Iron & steel are used in cars, appliances, roads, bridges, ships, airplanes, and in engineering and construction applications. Hence, with the development and growth of any country, the production and consumption of iron & steel increase proportionately. Countries such as China, the US, Japan, Russia, Italy, Germany, India and Brazil lead in the production and consumption of steel.

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Market growth in the Asia Pacific region can be attributed to the increasing metal production, fabrication, and consumption in countries such as Japan, China, and India. The Asia Pacific region accounts for the highest production and consumption of steel in the world, along with one of the highest oil refining capacities. It is also the manufacturing hub of the world, with abundant heavy machinery and equipment manufacturing companies.

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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In February 2021, Air Liquide and BASF signed a new long-term contract for the supply of oxygen and nitrogen to one of BASF's largest European sites, located in Schwarzheide, Germany. Air Liquide will invest around USD 48 million in the construction of an Air Separation Unit (ASU) at this site for the production of battery materials for mobility. The Group's Air Separation Unit (ASU) will provide the highest industry standards in safety, efficiency, and reliability. The ASU is planned to be operational in 2023 and will also produce liquid products for the Industrial Merchant market. This new ASU located in the eastern part of Germany will complement Air Liquide's 23 air gases production plants in the country and will enable the Group to increase the reliable supply of industrial gases to customers in Germany as well as in Poland.

In January 2021, Linde Plc signed a long-term agreement with BorsodChem Zrt., the Hungarian chemical company and member of the Wanhua Chemical Group, for the supply of nitrogen, oxygen, and compressed air to its chemical complex in Kazincbarcika. Linde will construct one of the largest air separation units in Hungary, which is expected to be completed by the end of 2021. In addition to supporting BorsodChems expansion, the plant will provide additional nitrogen, oxygen and compressed air to meet the increasing demand for industrial gases in Hungary and surrounding countries.

In July 2020, Air Products and Chemicals, Inc. signed an agreement with ACWA Power (Saudi Arabia) and NEOM (a developing smart city in Saudi Arabia), worth USD 5 billion for developing a world-scale green hydrogen-based ammonia and nitrogen production facility powered by renewable energy. The project, which will be equally owned by the three partners, will be sited in Tabuk region, located in the northwest corner of the Kingdom of Saudi Arabia, and will produce green ammonia for export to global markets. This development will help Air Products in identifying itself as one of the leading players in the green energy sector.

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