Global Air Separation Plant Market Overview:
An Air separation plant is used for separating air from the atmosphere to its primary elements like Nitrogen, Oxygen, Argon and other inert gases. These plants are widely used in several large, small and medium enterprises to filter out the gases and other liquid products. Ultra-high purity (UHP) oxygen, neon, xenon, krypton, and compressed dry air can also be produced with the help of air separation plants. Huge benefits in the industries of medical, steel, chemical, healthcare, and others are increasing the demand for air separation plants all over the world.
The global air separation plant market is expected to cross USD 7 billion by 2026 according to the recent market study. The use of oxygen in basic steel manufacturing process is increasing the need for air separation plants in the steel industry. The chemical industry is also having a huge demand for the gases like Oxygen in coal gasification, nitrogen for chemical storage tanks, and other uses like storing petroleum products, to prevent oxidation by packing edible oils, etc.
The rise in the healthcare market all over the world is also promoting the growth of air separation plants. The increase in the number of hospitals owing to the rise in chronic diseases, more medical services and others will improve the demand for medical gases favouring those plants. The augmented use of gases in food and beverages, water and waste treatment, and pharmaceutical industries is also extending the market for global air separation plants. The increase in the middle-class population across developing nations, increase in government regulations and support initiatives will drive the market in future.
On the other hand, the high prices of the gases, changes in the demand patterns and growth of alternative technologies will restrict the growth of the market to some extent. However, the growing demand for gases in the different verticals of developing nations will overpower those inhibitions, increasing the demand for air separation plants.
Air separation happens in two ways cryogenic and non-cryogenic processes, with more demand for the cryogenic distillation worldwide. Furthermore, the demand for air separation plants is steadily increasing in the other industries along with the typical chemicals, iron & steel, healthcare, and pharmaceuticals. The oil and gas industry is the rapidly growing segment with the increased demand for air separation plants in oil recovery, testing the leaks and others. The increase in electronic and metal fabrication industries made Asia Pacific as the leading market contributor in global air separation plants.
Independent Research Consultant
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