Air Separation Plant Market Overview:
Global Air Separation Plant Market size and share is currently valued at USD 5,201.0 Million in 2024 and is anticipated to generate an estimated revenue of USD 7,715.9 Million by 2032, according to the latest study by Polaris Market Research. Besides, the report notes that the market exhibits a robust 5.0% Compound Annual Growth Rate (CAGR) over the forecasted timeframe, 2024 – 2032
Key Market Drivers:
- Growing Demand for Industrial Gases: Industries such as steel, chemical, oil and gas, and healthcare require large volumes of gases like oxygen, nitrogen, and argon for various processes. The increasing industrial activities globally have escalated the demand for these gases, thereby driving the need for air separation plants.
- Advancements in Air Separation Technologies: Innovations in cryogenic and non-cryogenic processes have enhanced the efficiency and cost-effectiveness of air separation units. These technological advancements enable the production of high-purity gases, meeting the stringent requirements of various end-use industries.
- Expansion of the Healthcare Sector: The healthcare industry relies on high-purity oxygen for medical applications, including respiratory therapies and surgical procedures. The growing healthcare infrastructure, especially in emerging economies, has increased the demand for medical-grade gases, propelling the air separation plant market.
- Environmental Regulations and Clean Energy Initiatives: The shift towards cleaner energy sources and stringent environmental regulations have led to the adoption of technologies like coal gasification and oxygen-based gas-to-liquid processes. Air separation plants play a crucial role in these applications by supplying the necessary high-purity gases.
- Economic Growth in Emerging Markets: Rapid industrialization and urbanization in regions such as Asia-Pacific have spurred the demand for industrial gases. The establishment of new manufacturing facilities and expansion of existing ones necessitate the installation of air separation plants to ensure a steady supply of essential gases.
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Key Companies in Air Separation Plant Market:
- Air Liquide Engineering & Construction
- Air Products and Chemicals, Inc.
- Air Water Inc.
- AMCS Corporation
- CRYOTEC Anlagenbau GmbH
- DIG AIRGAS CO., LTD.
- ENERFLEX LTD.
- GAS Engineering, LLC.
- Gulf Process Gases, LLC
- HangZhou Oxygen Plant Group
- KaiFeng Air Separation Group Co., Ltd.
- Linde Plc.
- Novair
- Phoenix Equipment Corporation
- TAIYO NIPPON SANSO CORPORATION
- Technex
- Yingde Gases Group Co., Ltd.
Air Separation Plant Market Segmentation:
Air Separation Plant Market, Gas Outlook (Revenue, USD Million, 2019-2032)
- Oxygen
- Nitrogen
- Argon
- Others
Air Separation Plant Market, Process Outlook (Revenue, USD Million, 2019-2032)
- Cryogenic Distillation
- Non-cryogenic Distillation
Air Separation Plant Market, End-Use Outlook (Revenue, USD Million, 2019-2032)
- Healthcare
- Chemical
- Iron & Steel
- Oil & Gas
- Others
Air Separation Plant Industry Developments: