Future Market Insight Global & Consulting Co., Ltd.
Detailed market insights on the Air Separation Plants market including cryogenic air separation plants and non-cryogenic air separation plants across 30+ countries including US, UK, Germany, France, Norway, Sweden, Saudi Arabia, UAE, Japan, South Korea, Australia, New Zealand etc. The US Air Separation Plants market is projected to grow at a CAGR of 3.70% through 2034.
NEWARK, Del., July 22, 2024 (GLOBE NEWSWIRE) — Air separation plants are becoming a must-have for almost every factory unit due to their unprecedented ability to produce gases like oxygen, nitrogen, argon, etc. from atmospheric air. This is expected to drive the air separation plants market to reach a staggering USD 6,515.4 Million in 2024, with continuous growth expected in the coming years.
The demand for these ASUs is spread across a wide range of industries but is primarily utilized in the chemical, food & beverage, mining, and metal processing industries. These air separation units have become an integral part of the daily operations of factory units in these industries and are expected to exceed $10,512.26 million by 2034.
In a nutshell, the adoption of air separation units is highly dependent on the performance of the industrial sector globally. With the continuous growth in the manufacturing sector, the air separation market across industries is also witnessing a steady and stable growth of 4.90% through 2034.
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Key findings from market research
The oxygen segment dominates the air separation plant market, accounting for 57.80% share in 2024.
By type, the cryogenic segment will lead the air separation plant market in 2024 with a share of 57.40%.
The Indian air separation plant market is expected to grow at a CAGR of 5.00% till 2034.
The China air separation plant market is projected to grow at a CAGR of 5.70% through 2034.
The South Korean air separation plant market is likely to expand at a CAGR of 4.30% through 2034.
The Canadian air separation plant market is projected to grow at a CAGR of 3.80% through 2034.
The U.S. air separation plant market is likely to grow at a CAGR of 3.70% through 2034.
“Sustainability remains one of the major concerns for air separation unit manufacturers, and companies in this market will need to implement innovative solutions and technologies to address sustainability challenges,” said Nikhil Kaitwade, vice president, Future Market Insights.
The story continues
How is the Air Separation Plants industry expected to perform region-wise?
The study provides an in-depth look at the global air separation plants status across the following regions: North America, Latin America, Europe, East Asia, South Asia & Pacific, and Middle East & Africa (MEA).
The demand for air separation plant processing is expected to be driven by emerging and developing economies across the globe. East Asia, South Asia, and the Pacific region is home to major economies such as India and China, making these regions highly lucrative markets for air separation plants. Overall, these regions are dominating the air separation plant market at the global level.
The North American air separation plant market also has a significant presence globally, especially in terms of revenue. The demand for air separation plants in the region is driven by rising manufacturing activities and increasing demand for high purity gases for various applications in industry sectors such as healthcare, oil & gas, etc.
The Middle East and Africa region is expected to witness a substantial rise in the installation of air separation plants, owing to the development of healthcare infrastructure in the region and government support to reduce the import costs of pure gases such as oxygen for medical use.
Competitive Environment
The market for air separation plants is still in its infancy, with only a few companies dominating the global market.
Major companies
Linde AG
Air Products and Chemicals Co., Ltd.
Air Liquide SA
Praxair Inc.
Messer Group GmbH
Universal Industrial Gas Co., Ltd.
Taiyo Nippon Sanso Corporation
Technex Corporation
Sichuan Air Separation Plant Group
Ranch Cryogenics
AMCS Corporation
Eitoku Gas Group Co., Ltd.
In many parts of the world, the use of these air separation units is not as widespread as in more industrialized regions. To expand their consumer base, ASU manufacturers must explore untapped regions and tap into potential demand.
Recent developments
In October 2023, Linde subsidiary Praxair India began commercial production at its air separation unit in Hyderabad, producing 250 tonnes of gas per day.
In February 2023, INOXAP commissioned its fifth air separation facility in Hosur, Tamil Nadu, doubling its liquid oxygen production capacity to meet the needs of hospitals and industries.
In September 2020, the Messer Group invested more than €35 million to build a new air separation plant in Vila-Seca, Spain, capable of producing 2,400 tonnes of gas per day.
In January 2024, EuroChem will build an air separation unit at Nevinnomyskiy to produce oxygen, nitrogen and argon to increase efficiency and reduce environmental impact.
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Key Segments of Air Separation Plant Industry
By type:
Cryogenic Air Separation Plant
Non-cryogenic Air Separation Plant
Pressure Swing Adsorption (PSA)
Vacuum Pressure Swing Adsorption (VPSA)
Membrane Separation
By gas:
oxygen
nitrogen
Argon
diesel
By end use industry:
Chemical Industry
Steel Industry
Healthcare Industry
Food & Beverage
Pulp and Paper Industry
Oil & Gas
others
By region:
author
Nikhil Kaitwade, Vice President, Future Market Insights, Inc., has over 10 years of experience in market research and business consulting, having successfully completed over 1,500 engagements for clients primarily in the automotive, chemical, industrial equipment, oil & gas, and services industries.
His key competencies are developing research methodologies, creating proprietary analytical frameworks, creating statistical data models for pricing analysis, competitive mapping and market feasibility analysis. His expertise extends beyond analytics as he advises clients on identifying growth potential of existing and niche market segments, investment/divestment decisions and market entry decisions.
Nikhil holds an MBA in Marketing and IT and a degree in Mechanical Engineering. Nikhil is a published author and has been quoted in publications such as EMS Now, EPR Magazine, and EE Times.
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Future Market Insights, Inc. (ESOMAR Accredited, Stevie Award Winner, Member of the Greater New York Chamber of Commerce) offers deep insights into the driving forces behind market demand. FMI is a leading global provider of market intelligence, advisory services, consulting and events for the packaging, food & beverage, consumer technology, healthcare, industrial and chemical markets. With a large team of approximately 400 analysts worldwide, FMI offers global, regional and local expertise on a range of sectors and industry trends across over 110 countries.
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