Air Separation Plant Market, By Gas, By Process, By End-use, By Country, and By Region - Industry Analysis, Market Size, Market Share & Forecast from 2023-2030
Air Separation Plant Market size was valued at USD 6,856.5 Million in 2022, expanding at a CAGR of 4.5% from 2023 to 2030.
An abundance of industrial gases, including nitrogen, argon, oxygen, and other rare gases, are produced in air separation plants. facilities of all sizes, small and large, employ these separation plants to create liquid products and gasses.
Air Separation Plant Market- Market Dynamics
Rising demand for industrial gases from various industries drives market expansion
The air separation plant industry is mostly driven by the growing need for industrial gases in an array of end-use industries, including healthcare, metallurgy, chemicals, food and beverage, and oil and gas. Industrial gases are used as feedstock for the synthesis of various chemicals and in many other applications, such as welding, metal manufacturing, and chemical processing. Medical applications that include respiratory therapy, anesthesia, and the treatment of various medical conditions include the use of industrial gases like oxygen and nitrogen. Medical oxygen demand increased significantly during the COVID-19 pandemic, underscoring the critical role that industrial gases play in the healthcare industry. The metallurgy industry uses industrial gases like nitrogen and oxygen to make steel and other metals. Utilizing industrial gases reduces emissions while improving manufacturing process quality and efficiency. In the chemical industry, industrial gases are utilized as feedstocks to create a wide range of chemicals, including plastics, polymers, and fertilizers. Industrial gases like nitrogen and hydrogen are used as reducing agents in chemical reactions. Overall, the growing requirement for industrial gases across a range of end-use industries is a major force behind the air separation plant industry as it creates a steady demand for the production of industrial gases.
Air Separation Plant Market- Key Insights
The Air Separation Plant industry is projected to grow at a significant rate due to the growing demand for industrial gases in various end-use industry
Based on gas segmentation, the nitrogen segment captures a significant market share during the forecast period
Based on process segmentation, the cryogenic segment is expected to dominate the market during the forecast period
Based on end-use segmentation, the iron & steel segment is expected to capture a substantial market share over the forecast period
Based on region, the Asia Pacific is expected to dominate the market during the forecast period
Air Separation Plant Market- Segmentation Analysis:
The Global Air Separation Plant Market is segmented based on Gas, Process, End-use, and Region.
Based on the gas, the market is bifurcated into nitrogen, oxygen, argon and others. The nitrogen segment captures a significant market share during the forecast period. Many industrial sectors, such as metallurgy, electronics manufacturing, petrochemicals, and chemicals, depend on nitrogen gas. The need for nitrogen gas is driven by the expansion of these sectors. Furthermore, the need for industrial gases-including nitrogen-to support infrastructure development and industry is growing as a result of the fast industrialization of emerging nations.
Based on the process, the industry is segmented into cryogenic and non-cryogenic. The cryogenic segment is expected to dominate the market during the forecast period. Cryogenic air separation plant demand is driven by the growth of businesses such as chemicals, steel, and healthcare, as well as by increased industrialization. Cryogenic procedures are also a popular option in sectors that value sustainability since they can comply with stringent environmental laws and emission limits.
Based on the end-use, the market is bifurcated into iron & steel, oil & gas, chemical, healthcare and others. The iron & steel segment is expected to capture a substantial market share over the forecast period. The iron and steel industry is a key consumer of industrial gases, particularly oxygen. Oxygen is used in the steelmaking process to enhance combustion and increase efficiency. It is commonly injected into blast furnaces to improve the production of pig iron, a crucial intermediate product in steel manufacturing.
Air Separation Plant Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. The Asia Pacific is expected to dominate the market during the forecast period. The need for industrial gases has grown across several industries, including electronics, steel, and chemicals, as a result of the quick industrialization and economic expansion of nations like China and India. In addition, China holds a leading position in the world steel market. Large volumes of nitrogen and oxygen are needed to produce steel, and air separation plants are crucial for providing these gases to the steelmaking process. For instance, China produced 2.954 million tons of steel on average each day, up 0.8% from July's average and 9.1% from the previous year, according to the China Iron and Steel Association (CISA). Thus, the aforementioned stats drive the market growth during the forecast period.
Air Separation Plant Market- Competitive Landscape:
There is fierce competition for market share among the many small- to large-scale producers and suppliers in this highly fragmented sector. This fragmentation meets certain industry demands while providing consumers with a large array of equipment and customization options. The market participants are seeking corporate growth through strategies including mergers and acquisitions, the construction of new production facilities, and regional expansion activities to fulfil the growing demand from a varied range of sectors.
Recent Developments:
In February 2023, Epiluvac AB was purchased by Veeco Instruments Inc. to work with Epiluvac's technological platform. Veeco's worldwide go-to-market abilities should thus demonstrate notable long-term growth.
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL AIR SEPARATION PLANT MARKET KEY PLAYERS
Air Products and Chemicals, Inc.
AMCS Corporation
Air Liquide SA
Air Water Inc.
China Air Separation Equipment Co., Ltd.
Daesung Industrial Co., Ltd.
CRYOTEC Anlagenbau GmbH
Enerflex Ltd.
Gas Engineering, LLC
Gulf Gases, Inc.
Hangzhou Hangyang Co., Ltd.
Linde Plc
Messer Group GmbH
NOVAIR MEDICAL
Phoenix Corporation
Praxair Technology, Inc.
GLOBAL AIR SEPARATION PLANT MARKET, BY GAS
Nitrogen
Oxygen
Argon
Others
GLOBAL AIR SEPARATION PLANT MARKET, BY PROCESS
Cryogenic
Non-cryogenic
GLOBAL AIR SEPARATION PLANT MARKET, BY END-USE
Iron & steel
Oil & Gas
Chemical
Healthcare
Others
GLOBAL AIR SEPARATION PLANT MARKET, BY REGION
North America
The U.S.
Canada
Europe
Germany
France
Italy
Spain
United Kingdom
Russia
Netherlands
Sweden
Poland
Rest of Europe
Asia Pacific
India
China
South Korea
Japan
Australia
Thailand
Indonesia
Philippines
Rest of APAC
Latin America
Brazil
Mexico
Argentina
Colombia
Rest of LATAM
The Middle East and Africa
Saudi Arabia
United Arab Emirates
Israel
Turkey
Algeria
Egypt
Rest of MEA
Table of Contents
1. Air Separation Plant Market Overview
1.1. Study Scope
1.2. Market Estimation Years
2. Executive Summary
2.1. Market Snippet
2.1.1. Air Separation Plant Market Snippet by Gas
2.1.2. Air Separation Plant Market Snippet by Process
2.1.3. Air Separation Plant Market Snippet by End-use
2.1.4. Air Separation Plant Market Snippet by Country
2.1.5. Air Separation Plant Market Snippet by Region
2.2. Competitive Insights
3. Air Separation Plant Key Market Trends
3.1. Air Separation Plant Market Drivers
3.1.1. Impact Analysis of Market Drivers
3.2. Air Separation Plant Market Restraints
3.2.1. Impact Analysis of Market Restraints
3.3. Air Separation Plant Market Opportunities
3.4. Air Separation Plant Market Future Trends
4. Air Separation Plant Industry Study
4.1. PEST Analysis
4.2. Porter's Five Forces Analysis
4.3. Growth Prospect Mapping
4.4. Regulatory Framework Analysis
5. Air Separation Plant Market: COVID-19 Impact Analysis
5.1. Pre-COVID-19 Impact Analysis
5.2. Post-COVID-19 Impact Analysis
5.2.1. Top Performing Segments
5.2.2. Marginal Growth Segments
5.2.3. Top Looser Segments
5.2.4. Marginal Loss Segments
6. Air Separation Plant Market Landscape
6.1. Air Separation Plant Market Share Analysis, 2022
6.2. Breakdown Data, by Key Manufacturer
6.2.1. Established Players' Analysis
6.2.2. Emerging Players' Analysis
7. Air Separation Plant Market - By Gas
7.1. Overview
7.1.1. Segment Share Analysis, By Gas, 2022 & 2030 (%)
7.1.2. Nitrogen
7.1.3. Oxygen
7.1.4. Argon
7.1.5. Others
8. Air Separation Plant Market - By Process
8.1. Overview
8.1.1. Segment Share Analysis, By Process, 2022 & 2030 (%)
8.1.2. Cryogenic
8.1.3. Non-cryogenic
9. Air Separation Plant Market - By End-use
9.1. Overview
9.1.1. Segment Share Analysis, By End-use, 2022 & 2030 (%)
9.1.2. Iron & steel
9.1.3. Oil & Gas
9.1.4. Chemical
9.1.5. Healthcare
9.1.6. Others
10. Air Separation Plant Market- By Geography
10.1. Introduction
10.1.1. Segment Share Analysis, By Geography, 2022 & 2030 (%)
10.2. North America
10.2.1. Overview
10.2.2. Air Separation Plant Key Manufacturers in North America
10.2.3. North America Market Size and Forecast, By Country, 2018 - 2030 (US$ Million)
10.2.4. North America Market Size and Forecast, By Gas, 2018 - 2030 (US$ Million)
10.2.5. North America Market Size and Forecast, By Process, 2018 - 2030 (US$ Million)
10.2.6. North America Market Size and Forecast, By End-use, 2018 - 2030 (US$ Million)