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Air Separation Plant Market By Process (Cryogenic, Non-cryogenic), By Gas (Nitrogen, Oxygen, Argon, Others), By End-user (Iron & Steel, Oil & Gas, Chemical, Healthcare, Others) - Growth, Future Prospects and Competitive Landscape, 2019 – 2027

Rising Application of Industrial Gases to bloom Air Separation Plant Market Worldwide

Air separation plants continue to attract heavy investment from the market players pertaining to their rising application and applicable industry growth. The iron & steel industry has a high demand for pure oxygen gas for steel making and coal gasification. Strong growth of iron & steel industry with production and consumption both showing good development, the demand for pure oxygen and thereby air separation plant is growing stupendously. Furthermore, the rising oil & gas industry in the U.S. and Canada due to the shale oil boom and high demand for oil from China and India; along with the growing industrial development activities in the Middle East & Africa, the global air separation plant market is expected to grow at US$ 7.74 Bn by 2027. In addition to the above, strong economic and industrial growth in the Asia Pacific and Latin America results in increasing demand and consumption of steel and petrochemicals. Owing to this, a high market for air separation plants across both continents is expected over the forecast period. 

On the other hand, the global air separation market is expected to be hindered by its cost aspect. The operating cost of electricity is the major challenge in front the market players. Also, the mature market of Europe has slow-moving growth in key industries like steel, where growth shrunk by 0.3% in 2018. Along with it, the growth in the chemical industry is also slow-moving due to higher oil prices and low demand from the automotive sector, thereby reducing the global market size.

Market Snapshot

Oil & Gas Segment to grow at the Fastest Pace

In 2018, the iron & steel segment captured the largest share of nearly 35% of the global market owing to growing industrial usage of gases for heat treatment of steel and other metals. Further, the segment will remain dominant throughout the forecast period. On the other hand, the oil & gas segment is expected to register the highest CAGR from 2019 to 2027 because of rising expenditure on oil & gas discovery and refining from emerging economies such as China, India, Brazil, and the developed economies.

North America Registered the Highest CAGR in 2018

The U.S. oil and gas production increased by 16% and 12%, respectively, in 2018. The blooming shale gas and light-tight oil production have resulted in high demand for air separation plants in the country. Canada has also identified shale gas deposits in its Duvernay field, which is further expected to support market growth. Further, other industries in the region such as iron & steel, healthcare, chemical, food & beverages are all expanding, which in turn grows the air separation plant market. As a result, it is estimated that the region will register the highest CAGR during the forecast period. In 2018, North America was the 2nd largest market trailing the Asia Pacific, with approximately 30% market share.

New Technological Development is keeping the Market Competitive

The overall air separation plant market is fragmented, and market players are focusing on partnerships and improving current technology to bolster their market share. For instance, in November 2019, Messer Group GmbH announced its purchase of DMC3 software from Aspen Technology Inc., a software company in asset optimization. The new DMC3 software will help to improve operating efficiency and margins and also helps to reduce energy consumption and emissions. Further, in July 2019, Yingde Gas Group Co., Ltd. signed a strategic agreement with Beijing SinoScience FullCryo Technology Co., Ltd. to cooperate in rare refining gases, hydrogen liquefaction, and liquid hydrogen storage and transportation. With this new partnership, both companies expect to improve operation efficiency, reduce operating costs and cooperate to improve market share. 

Major players profiled in the air separation plant market include Linde AG, Air Liquide, Praxair Technology, Inc., Air Products and Chemicals, Inc., TAIYO NIPPON SANSO CORPORATION, Universal Industrial Gases, Inc., Universal Cryo Gas, LLC, ENERFLEX LTD., Messer Group GmbH, Technex, Yingde Gas Group Co., Ltd., etc. among others. 

Historical & Forecast Period

The research report presents the analysis of each segment from 2017 to 2027, considering 2018 as the base year for the research. Compounded annual growth rate (CAGR) for each respective segment calculated for the forecast period from 2019 to 2027.

Report Scope by Segments

The air separation plant market report provides market size and estimates based on market dynamics and key trends observed in the industry. In addition, the report provides a holistic view of the global air separation plant market based on process, gas, end-user, and geography.

Frequently Asked Questions

The market for Air Separation Plant is expected to reach US$ 7.74 Bn in 2028.

The Air Separation Plant market is expected to see significant CAGR growth over the coming years, at XX%.

The report is forecasted from 2019-2027.

The base year of this report is 2021.

Linde AG, Air Liquide,, Praxair Technology, Inc.,, Air Products and Chemicals, Inc.,, TAIYO NIPPON SANSO CORPORATION,, Universal Industrial Gases, Inc. Universal Cryo Gas, LLC,, ENERFLEX LTD.,, Messer Group GmbH,, Technex,, Yingde Gas Group Co., Ltd. are some of the major players in the global market.

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Executive Summary - Brief Global Market Size - Current & Forecast
Regional Market Size - North America
Country Market Size - US
Company Profile – 1
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Published Date:  Dec 2019
Category:  Technology & Media
Report ID:   60096
Report Format:   PDF
Pages:   120
Rating:    4.2 (56)
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