Air Separation Plant Market Is Expected To Reach US$ 7.74 Bn in 2027 | Credence Research

Air Separation Plant Market Is Expected To Reach US$ 7.74 Bn in 2027 | Credence Research

According to a new market report published by Credence Research, Inc., “Global Air Separation Plant Market – Growth, Future Prospects and Competitive Landscape, 2019 – 2027”, the global air separation plant market is expected to reach US$ 7.74 billion in 2027, with CAGR growth of 5.12 per cent over the forecast period from 2019 to 2027.

Market Insights

The global market for air separation plant is showing strong growth due to increased demand for industrial and specialty gasses in various end-user segments such as iron & steel, oil & gas, healthcare, etc. Increased demand, coupled with changes in trade barriers and the consolidation of individual Chinese steel works, has resulted in the growth of the steel industry in most regions of the world in 2018. As per the World Steel Association, global steel production increased by 4.6 percent year-on-year in 2018. Moreover, the global chemical market has also performed well due to strong demand, tight supply and strong profitability, which has resulted in a surge in reinvestment planning activities in North America, the Middle East, China and other Asian locations. Overall, the global air separation plant market is expected to register a CAGR of 5.12 per cent between 2019 and 2027.

Browse Full Report Originally Published by Credence Research at https://www.credenceresearch.com/report/air-separation-plant-market

Based on the process, the global market for air separation plant is segmented into cryogenic and non-cryogenic processes. The cryogenic segment had the largest market share of nearly 70% in 2018, with its routine applications in medium and large scale plant to produce nitrogen, oxygen and argon as gasses or liquid products. Further highly pure oxygen, nitrogen and argon gasses produced by cryogenic processes are used in the manufacture of semiconductor devices. The thriving iron and steel, metal manufacturing and semiconductor industries are expected to further increase the demand for cryogenic air separation plant in the coming decade.

Geographically, Asia Pacific was the largest air separation plant market, accounting for almost 35% of its share in 2018. The growth of industrial sectors in emerging economies, such as China and India, has made it one of the promising market regions. The increasing demand for air separation plant came mainly from the electronics and refinery industries, as well as from the number of coal-to-olefin (CTO) and methanol-to-olefin (MTO) projects in China. In addition, the expansion of healthcare facilities in the region, driven by an increasing population ageing and chronic diseases such as chronic obstructive pulmonary disease (COPD), provided market opportunities for growth.

The overall air separation plant market is quite competitive in nature, with market players focused on technological upgrades and partnerships. In addition, advancements in technology are also expected to create investment opportunities in the market. In November 2019, for example, Messer Group GmbH introduced its new cryogenic technology–Silensnow–for sustainable transport refrigeration. This new technology has made it possible to transport fresh and frozen products using dry ice snow in the inner city, day or night, summer or winter, without disturbing residents or interrupting the cold chain. In addition, Linde AG signed a MOU with Baowu Clean Energy Ltd. in November 2019 to cooperate on the research and development of China’s hydrogen market.

Some of the major companies profiled in the report include Linde AG, Air Liquide, Praxair Technology, Inc., Air Products and Chemicals, Inc., TAIYO NIPPON SANSO CORPORATION, Universal Industrial Gases, Inc. Universal Cryo Gas, LLC, ENERFLEX LTD., Messer Group GmbH, Technex, Yingde Gas Group Co., Ltd., etc. among others.

You can get the sample copy of this research by Credence Research here: https://www.credenceresearch.com/sample-request/60096

Market Segmentation

By Process Segment Type

  • Cryogenic
  • Non-cryogenic

By Gas Segment Type

  • Nitrogen
  • Oxygen
  • Argon
  • Others (Carbon dioxide, Neon, Helium, etc.)

By End-user Type

  • Iron & Steel
  • Oil & Gas
  • Chemical
  • Healthcare
  • Others (Food & Beverages, Electronics, Glass & Mineral etc.)

By Geography Segment

  • North America (the U.S., Rest of North America)
  • Europe (U.K., Germany, France, Rest of Europe)
  • Asia Pacific (China, Japan, India, Rest of Asia Pacific)
  • Rest of the World (the Middle East & Africa, Latin America)

Blog Medium: https://medium.com/@kumarganesh028/air-separation-plant-market-is-expected-to-reach-us-7-74-bn-in-2027-credence-research-4fbfd9ae4025

Our Blog: https://tcnindustry.com/2020/01/02/air-separation-plant-market-global-industry-size-share-growth-trends-analysis-and-forecast-2019-to-2027/