Global Air Separation Plant Market Thrives at US$ 5.9 Billion, Poised to Grow by 5% CAGR to Reach US$ 7.9 Billion by 2028

The global air separation plant market currently boasts a valuation of US$ 5.9 billion and is on a trajectory to achieve an impressive Compound Annual Growth Rate (CAGR) of 5%, culminating in a net worth of US$ 7.9 billion by the close of 2028. A notable trend bolstering overall market expansion across regions is the robust demand for air separation plants within the healthcare industry.

The market's course is primarily steered by influential industrial and innovation factors, encompassing the growth of the iron and steel industry, advancements in the chemical sector, burgeoning economies in emerging countries, and a surge in Foreign Direct Investment (FDI) inflow within the industrial domain. The market's growth prospects remain varied, with India and China anticipated to showcase substantial year-over-year growth potential.

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Key Insights from Air Separation Plant Market Analysis:

U.S. Dominance in North America: The United States is poised to lead in the North American market, driven by escalating shale gas exploration activities across the nation.

China's Robust Growth: China is anticipated to experience substantial growth in the air separation plant market, primarily due to increased adoption in the production of chemicals and iron & steel.

India's Attractive Prospect: India is projected to emerge as a highly attractive market in the South Asia & Pacific region, fueled by the burgeoning trend of industrialization in the country.

U.K. and Germany Lead in Europe: The United Kingdom and Germany are estimated to collectively claim the largest share in the European market, propelled by expanding applications across the food & beverage industry.

Steady Growth in Chemical Industry: The chemical industry segment is expected to exhibit steady growth, contributing to approximately 20% of the overall sales through 2028.

Key Drivers:

Healthcare Demand: Increasing demand for medical oxygen and equipment like CPAP devices and infusion pumps in hospitals for patient treatments is expected to boost the sales of air separation plants in the healthcare segment.

Argon's Role: The growing use of argon gas in casting and welding industries, especially in manufacturing specialty alloys and titanium, is a primary driver propelling demand within the argon segment.

Key Restraints:

Cost Concerns: The high cost associated with installation, component assembly, operation, and maintenance of air separation plants is hindering sales in the market.

Energy Consumption Challenges: The comparatively high energy consumption of cryogenic separation plants compared to non-cryogenic plants is restraining growth in the cryogenic separation plant segment.

Competitive Landscape:

Prominent air separation plant manufacturers are focusing on mergers and acquisitions to fortify their global presence and establish business footholds in different countries. Moreover, some players are working on expanding their production capacity to meet the demand for industrial gases.

For instance:

In November 2021, Japanese industrial and medical gases provider Nippon Gases collaborated with Italian stainless steel manufacturer Cogne Acciai Speciali to modernize its air separation unit, enhancing efficiency and reducing energy consumption in production.

In April 2020, CryopAL, a subsidiary of Air Liquide, announced a significant increase in the production of liquid oxygen for medical use to meet the rising demand and supply oxygen to patients with respiratory insufficiency.

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Some of the key players operating in the market profiled by FMI are:

Linde AG
Air Products and Chemicals Inc.
Air Liquide SA
Praxair Inc.
Messer Group GmbH
Universal Industrial Gases Inc.
Taiyo Nippon Sanso Corporation
Technex Limited
Sichuan Air Separation Plant Group
Ranch Cryogenics Inc.
AMCS Corporation
Yingde Gases Group Company Limited.
Others
More Valuable Insights on Air Separation Plant Market

FMI, in its new report, offers an unbiased analysis of the global air separation plant market, analyzing forecast statistics between 2022 and 2028. The survey reveals growth projections on in air separation plant market with detailed segmentation:

By Type:
Cryogenic Air Separation Plants
Non-cryogenic Air Separation Plants
Pressure Swing Adsorption (PSA)
Vacuum Pressure Swing Adsorption (VPSA)
Membrane Separation

By Gas:
Oxygen
Nitrogen
Argon
Diesel

By End-use Industry:
Air Separation Plants for Chemical Industry
Air Separation Plants for Iron & Steel Industry
Air Separation Plants for Healthcare Industry
Air Separation Plants for Food & Beverage Industry
Air Separation Plants for Paper & Pulp Industry
Air Separation Plants for Oil & Gas Industry
Others

By Region:
North America Air Separation Plant Market
Latin America Air Separation Plant Market
Europe Air Separation Plant Market
East Asia Air Separation Plant Market
South Asia & Pacific Air Separation Plant Market
Middle East & Africa (MEA) Air Separation Plant Market

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About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.

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This release was published on openPR.