Air Separation Plant Market to Witness Impressive Growth by 2025
Air separation plants continue to steadily attract attention in a number of end-use industries owing to the vast rise in essential applications of industrially viable gases such as nitrogen, oxygen, argon, and a variety of rare gases. For instance, the massive rise in demand for oxygen in applications across coal gasification, steel manufacturing and the rising demand for nitrogen for storing petroleum products, in chemical storage tanks, and for packing edible oils so as to protect them from qualitative deterioration due to oxidation are some applications driving the increased need for air separation plants globally.
Owing to the increased consumption of steel across emerging economies to support the rate of infrastructure development activities, the market for air separation plants is expected to witness expansion at a highly promising pace in the next few years. The green energy industry also looks highly promising for the air separation plant market as some of the world’s leading gas companies have started focusing on investment in alternative energy technologies. Strong economic growth of key emerging economies across Asia Pacific and Latin America and the resultant expansion of the industrial sector in these regions are also expected to promise healthy growth opportunities to the global air separation plant market in the next few years.
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However, several key industries employing massive volumes of air and rare gases have underperformed in the past few years, especially across mature markets such as Europe and North America, directly impacting the overall development of the air separation plant market in these regions. The situation is expected to become more promising in the next few years as economies across Europe are steadily picking-up pace, revitalizing the industrial sector.
Global Air Separation Plant Market: Overview
Air separation plants essentially refer to facilities where atmospheric air is separated into its primary components, mostly nitrogen, hydrogen, and oxygen, and sometimes into rare inert gases such as krypton, argon, xenon, and helium. Considered to be the only viable source for recovering these rare gases and high purity oxygen and nitrogen, air separation plants support the growth of a vast number of industries. The market for air separation plants has witnessed significant growth in the past few years owing to the vast rise in applications and technological advancements in distillation and filtration capabilities.
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This report on the global air separation plants market presents a thorough overview of the present growth dynamics of the market and its key elements. A detailed analytical overview of factors such as growth drivers, restraints, trends, challenges, and regulatory scenario governing the development of the market across key regional markets is also included in the report. The competitive landscape of the market is also analyzed in great details in the report, with detailed business profiles and data pertaining to finances, geographical presence, strengths and weaknesses, and product portfolio of some of the key vendors included.
Global Air Separation Plant Market: Drivers and Restraints
The thriving metal fabrication and semiconductor industries are expected to lead to an increased demand for air separation plants in the next few years. The rising expenditure on the production and refining of oil and steel and petrochemicals in emerging economies such as India, China, and Brazil is also expected to emerge as one of the key demand drivers of the global air separation plant market over the report’s forecast period.
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Global Air Separation Plant Market: Segmentation
The report segments the global air separation plant market on the basis of criteria such as separation process, gas, end-use industry, and geography. On the basis of separation process, the market can be segmented into cryogenic and non-cryogenic processes of air separation. The segment of non-cryogenic air separation processes includes sub-segments such as pressure swing adsorption, vacuum pressure swing adsorption, and membrane separation. Cryogenic distillation is presently the most commonly used method for air separation owing to a vast range of application areas spanning a number of industries.
Some of the key applications of air separation plants are seen across industries such as semiconductor, healthcare, oil and gas, chemical, and iron and steel. Of these, the oil and gas and iron and steel industries are amongst the leading generator of revenue in the global market. Over the report’s forecast period, the oil and gas segment is expected to exhibit growth at the most promising pace owing to the rising demand for niche application areas such as enhanced oil recovery.
Global Air Separation Plant Market: Geographical Outlook
Of the key regional markets for air separation plants, Asia Pacific has been highlighted in the report with the most promising future growth prospects. The thriving industrial sector in emerging economies such as China and India has made the region one of the leading markets for air separation systems. Over the report’s forecast period as well, the region is expected to emerge as one of the leading destinations for air separation plants owing to the rising demand for pure gases across industries such as semiconductor, metal fabrication, and healthcare.
Global Air Separation Plant Market: Competitive Dynamics
Some of the key vendors operating in the global air separation plant market are Air Products and Chemicals, Inc., Praxair, Inc., Air Liquide S.A., Enerflex Ltd., Technex Ltd., Linde AG, Messer Group GmbH, Universal Industrial Gases, and Taiyo Nippon Sanso Corporation
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