The report “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 market for air separation plants was valued at USD 4.5 billion in 2021 and is projected to reach USD 5.9 billion by 2026, at a CAGR of 4.9% between 2021 and 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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• 123 Market data Tables
• 53 Figures
• 284 Pages and in-depth TOC on “Air Separation Plant Market – Global Forecast to 2026”
Some of the prominent key players are:
· 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)
On the basis of process, the cryogenic process segment is projected to grow at the highest CAGR from 2021 to 2026.
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.
Among gas types, the Nitrogen segment is projected to grow at the highest CAGR from 2021 to 2026.
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.
Asia Pacific is expected to be the fastest-growing regional segment in the air separation plant market.
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.
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