According to FMI, global sales of air separation plants was $5.9 billion in 2022. The market is anticipated to expand further to approximately $7.9 billion by the conclusion of 2028 with 5% CAGR. This growth is attributed to the escalating utilization of air separation plants in the oil and gas sector for extracting diesel and natural gas.
The demand for nitrogen, both in gaseous and liquid states, is being propelled by a rising need for swift refrigeration, gas packaging, and freezing technologies within the food and beverages industry. As air separation plants play a crucial role in extracting nitrogen from the atmosphere, the heightened demand for nitrogen is expected to foster market growth.
Key Takeaways from Air Separation Plant Market Study
- The U.S. is anticipated to account for the lion’s share in North America market, owing to the increasing shell gas exploration activities across the country.
- China is expected to register robust growth in the air separation plant market, on the back of growing adoption in production of chemicals and iron & steel.
- India is forecast to emerge as a highly attractive market in South Asia & Pacific, driven by the upsurge in trend of industrialization in the country.
- The U.K. and Germany are estimated to collectively account for the largest share in Europe market, favored by increasing applications across the food & beverage industry.
- In terms of end use industry, the chemical industry segment is projected to exhibit steady growth, accounting for around 20% of the overall sales through 2028.
Key Drivers
- Surging demand for medical oxygen and equipment such as continuous positive airway pressure (CPAP) devices and infusion pumps in hospitals for patient treatments is expected to increase the sales of air separation plants across the healthcare segment.
- Increasing use of argon gas in casting and welding industries, especially, in manufacturing of specialty alloys and titanium is a primary factor propelling the demand across the argon segment.
Key Restraints
- Extravagant cost of installation, component assemble, operation, and maintenance of air separation plants is hindering the sales in the market.
- High energy consumption for cryogenic separation plants as compared to non-cryogenic plants is a factor restraining the growth in the cryogenic separation plant segment.
Competitive Landscape
Key manufacturers of air separation plants are focusing on mergers and acquisitions to strengthen their global footprint and establish their business different countries. Apart from this, some of the players are aiming at expanding their production capacity to cater to demand for industrial gasses.
For instance,
- In November 2021, Nippon Gases, a leading Japanese industrial and medical gases provider, announced signing an agreement with a renowned Italian stainless steel manufacturer, Cogne Acciai Speciali. As per the agreement, Nippon Gases will assist the latter company to modernize its air separation unit to increase its efficiency and reduce energy consumption in production.
- In April 2020, CryopAL, a subsidiary of Air Liquide, announced increasing its production of liquid oxygen for medical use to three times of its current production to meet the increasing demand and supply oxygen to patients suffering from respiratory insufficiency.
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Some of the key players operating in the market profiled by FMI are:
- Linde AG
- Air Products and Chemicals Inc.
- Air Liquide SA
- Praxair Inc.
- Messer Group GmbH
- Universal Industrial Gases Inc.
- Taiyo Nippon Sanso Corporation
- Technex Limited
- Sichuan Air Separation Plant Group
- Ranch Cryogenics Inc.
- AMCS Corporation
- Yingde Gases Group Company Limited.
- Others
More Valuable Insights on Air Separation Plant Market
FMI, in its new report, offers an unbiased analysis of the global air separation plant market, analyzing forecast statistics between 2022 and 2028. The survey reveals growth projections on in air separation plant market with detailed segmentation:
By Type:
- Cryogenic Air Separation Plants
- Non-cryogenic Air Separation Plants
- Pressure Swing Adsorption (PSA)
- Vacuum Pressure Swing Adsorption (VPSA)
- Membrane Separation
By Gas:
- Oxygen
- Nitrogen
- Argon
- Diesel
By End-use Industry:
- Air Separation Plants for Chemical Industry
- Air Separation Plants for Iron & Steel Industry
- Air Separation Plants for Healthcare Industry
- Air Separation Plants for Food & Beverage Industry
- Air Separation Plants for Paper & Pulp Industry
- Air Separation Plants for Oil & Gas Industry
- Others
By Region:
- North America Air Separation Plant Market
- Latin America Air Separation Plant Market
- Europe Air Separation Plant Market
- East Asia Air Separation Plant Market
- South Asia & Pacific Air Separation Plant Market
- Middle East & Africa (MEA) Air Separation Plant Market
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About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.
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