Get right information air separation plant market and analysis report.
Air separation plant market is estimated to be worth 7.27 Billion USD by 2026. Air separation plant market is expected to grow substantially over a period of next 6 to 8 years. This is natural keeping in mind the increasing industrial output. As Iron & Steel, Oil & Gas, Chemical & Healthcare industries will grow, there is no denying the fact that air separation industry will also see sustained growth for a decade from now on. In a recent industry forecast, the global market is going to be worth USD 7.27 Billion by 2026, at a CAGR of 5.3% from 2016 to 2026.
Big spurt in demand for air separation plants in steel and petroleum industry
Growth in the air separation plant industry is based upon the strong demand for industrial and specialty gases across various industrial segments such as iron & steel, healthcare, oil & gas, and energy. However, there will be numerous opportunities for investment for big players in the industry. High processing cost will be a big issue for the industry. On top of it, uncertain demand and significant improvements in the field of alternative technologies is also going to be an important issue for the industry.
It goes without saying that iron & steel and chemical industries are amongst the largest end users of air separation plant market. Other sectors like healthcare, etc, also account for significant percentage of end-users. From 2016 to 2021, it is projected that oil & gas industry will grow at the fastest rate. There are many applications for air separation plants in the industry like leak testing and oil recovery.
Cryogenic process: Most used process in air separation industry
Air separation plant works either on a cryogenic process or on a non-cryogenic process. However, cryogenic process is the most commonly used process in the industry. The cryogenic air separation plant market will grow at the fastest growth. Cryogenic process is used for manufacturing medium to large-scale air separation plants to generate oxygen, nitrogen, argon and various other gases in liquid or gaseous form.
China, India & Japan –three growth drivers in the air separation plant industry
There is great demand for air separation plants in the Asia-Pacific region because of increasing demand. In fact, Asia-Pacific region was the largest market in 2015 because of sustained growth in metal fabrication and electronic industries such as China, India & Japan. Important players in the industry include names like Linde AG (Germany), Praxair, Inc. (USA), Air Liquide S.A. (France), Universal Boschi (India), Taiyo Nippon Sanso Corporation (Japan), etc.
N2 plant manufactured by our company are high quality and provide pure nitrogen that can be used in numerous industries including chemical, petroleum, steel, pharmaceuticals, biotech, etc. The plants are easy to configure and can be scaled to operation of all sizes. The non-metallic element is used both as a gas and liquid. It is reported that two-third of nitrogen produced is used in the gaseous form and the one-third is used as liquid. The gas is used for providing an inert atmosphere for prevention of oxidation that can cause explosion, fire and moisture.
