Air Separation Plant Market Size, Opportunities, Share, Growth, Regional Trends, Key Segments, Graph, Top Manufacturers and Forecast To 2028

May 27 19:11 2024
Air Separation Plant Market Size, Opportunities, Share, Growth, Regional Trends, Key Segments, Graph, Top Manufacturers and Forecast To 2028
Browse 234 market data Tables and 47 Figures spread through 294 Pages and in-depth TOC on “Air Separation Plant Market”
Air Separation Plant Market by Process (Cryogenic, Non-cryogenic), Gas (Nitrogen, Oxygen, Argon), End-Use Industry (Iron & Steel, Oil & Gas, Chemical, Healthcare), and Region (North America, APAC, Europe, RoW) – Global Forecast to 2028

 The air separation plant market size is projected to grow from USD 5.4 billion in 2023 to USD 6.8 billion by 2028, at a CAGR of 4.6% from 2023 to 2028. The market for air separation plants is expanding due to developments in cryogenic technology, including increased energy efficiency, enhanced process automation, and the development of more efficient heat exchangers. 

Based on the process, the cryogenic segment is projected to be the fastest-growing segment from 2023 to 2028. Cryogenic is the preferred process for producing high-purity oxygen and nitrogen in all plants growing liquefied industrial gas products. Cryogenic air separation processes are used in medium-to-large scale plants to produce nitrogen, oxygen, argon, and other atmospheric gases in liquid or gaseous forms.

Download PDF Brochure: 

The need for gases like nitrogen and oxygen rises as industries grow and develop. These gases, which are essential for several industrial processes, must be continuously and reliably supplied, resulting in the need for cryogenic air separation systems. 

Based on gas, the nitrogen segment is projected to be the fastest-growing segment from 2023 to 2028. The inert properties of nitrogen make it an excellent blanketing gas in many applications. Nitrogen is used in various industries such as chemicals, pharmaceuticals, oil & gas processing, glass & ceramic manufacture, steelmaking, metal refining & fabrication, and healthcare. In the chemical and petrochemical industries, nitrogen is used. In order to stop dangerous reactions, regulate atmospheres, and maintain a secure working environment, it is utilized for inerting and purging systems. 

Request Sample Pages: 

Based on the end-use industry, the iron & steel segment is projected to be the fastest-growing segment from 2023 to 2028. Iron & steel industries have enormous requirements for oxygen, nitrogen, and argon during the production and finishing processes that air separation plants produce. In the steel industry, most oxygen produced by air separation plants is used to oxidize and remove contaminants. Nitrogen gas is produced by air separation plants and utilized in the steel industry to control combustion. To create inert atmospheres, nitrogen is fed into furnaces and other high-temperature activities. It enhances safety and product quality, lowers the production of dangerous gases, and aids in preventing oxidation. 

Based on region, Asia Pacific is projected to be the fastest-growing market for air separation plants during the forecast period. Particularly in nations like China, India, and Southeast Asian countries, this region is undergoing rapid industrialization. One of the leading producers and users of steel worldwide is China. For oxygen-enriched blast furnaces and basic oxygen furnaces (BOF), which increase the productivity and efficiency of the steelmaking processes, the steel industry needs a lot of oxygen. Industrial gases produced by air separation plants are essential to sectors like metal production, electronics, manufacturing, chemicals, and healthcare. The growing industrial sector is driving the region’s demand for air separation facilities.

Request Customization: 

The major players operating in the air separation plant market include 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), Air Water Inc. (Japan), Enerflex Ltd. (Canada), Yingde Gases Group Co., Ltd. (Hong Kong), Inox Air Products Private Limited (India), Hangzhou Hangyang Co., Ltd. (China), Universal Industrial Gases, Inc. (US), Nikkiso Cosmodyne, LLC. (US) and others.

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

Media Contact
Company Name: MarketsandMarkets™ Research Private Ltd.
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States