Air Separation Plant Market 2024 – Market Size & Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Forecast 2034
Page: 215 | Report Code: MC240528 | Research Suite: Report (PDF) & Market Data (Excel)
An air separation plant is an industrial plant that is charged with the responsibility of splitting the main constituents of air, which include nitrogen, oxygen, argon and carbon dioxide among others. This separation is done through cryogenic distillation or through non-cryogenic techniques such as pressure swing adsorption (PSA) and membrane separation among others. These plants are essential in producing ultra-high purity gases which are used in various applications including medical, manufacturing, chemical, and electronics sectors. Cryogenic distillation on the other hand refers to the use of cold energy in liquefaction and separation of air by boiling point while non cryogenic distillation involves an entirely different process of separation by physical or chemical methods.
This is because air separation plants offer gases
that are of high purity for particular application in various fields. For
instance, oxygen in medical therapies and steel making, nitrogen in inert and
blanketing in chemical processes, and argon in welding and in electronics
making. The air separation plant market has grown significantly in the past few
years because of the higher industrialization levels, new technologies, and the
rising demand for industrial gases. These plants are useful for the production
of oxygen, nitrogen, and argon which are useful in areas such as health, the
oil and gas industry, the iron and steel industry as well as the chemical
industry among others.
The air separation plant market is anticipated to reach USD XXX.X million by 2034 from USD XXX.X million in 2023, at a CAGR of XX.X% during the forecast period.
The growing industrialization in emerging countries such as
China, India, and Brazil is leading to the increasing demand for industrial
gases and resulting in the growth of the air separation plants market.
Likewise, the new technologies like pressure swing adsorption (PSA), vacuum
pressure swing adsorption (VPSA) and membrane technologies have also taken place.
These technologies have higher purity levels, lower energy intensity, and
operational costs, which are anticipated to help bolster the growth of air
separation plant market during the forecast period 2024-2034.
Growth
Drivers:
The rise in demand of industrial
gases in industries is a key factor, which has a positive impact on the air
separation plant market. Healthcare, electronics, food and beverages,
metallurgic, chemical and oil and gas industries involve high use of industrial
gases like oxygen, nitrogen and argon among others. The three industries
continue to grow and develop, and as this occurs, there is a need for
industrial gases that are pure and dependable, which are provided by the
air-separating plants.
Thus, the healthcare industry can
be considered as a large and increasingly important customer for air separation
plants. The prevalence of respiratory diseases and procedures that entail
oxygen therapy has become on the rise, coupled with the recent hike in demand
for medical oxygen in the wake of the COVID-19 outbreak meaning that healthcare
providers source medical-grade oxygen from air separation plants. This is a key
factor that will continue to fuel market demand because hospitals, clinics, and
emergency care centers require a steady supply of high quality oxygen.
Developing nations will prove to
be highly lucrative for the global air separation plant market. Growth in
industrial output and increasing economic activity especially in the Asia, and
Latin America region spurred by China, India, Brazil and Indonesia fuels demand
for industrial gases and air separation plants. These regions are still
emerging markets because they have expanding industrial bases, higher
healthcare requirements, and governments who are favorably disposed towards
developing industry and technology.
The advances in technology have a
direct impact on the growth of the global air separation plant market. Recent
innovations include cryogenic distillation, PSA, VPSA, which have improved in
efficiency, purity, and energy intensity. These innovations bring industries
that are in search of affordable and environmentally friendly solutions to
their production of industrial gases, thus increasing the demand for air
separation plants.
Air Separation Plant Segmentation:
By Process:
·
Non-cryogenic
o Membrane Separation
o Pressure Swing Adsorption (PSA)
o Vacuum Pressure Swing Adsorption (VPSA)
·
Cryogenic
By Gas:
·
Oxygen
·
Nitrogen
·
Argon
·
Carbon
Dioxide
·
Others
By End-Use Industry:
·
Oil &
Gas
·
Iron &
Steel
·
Healthcare
·
Chemical
·
Others
By Region:
·
North America
·
Europe
·
Asia Pacific
·
Latin America
·
Middle East
and Africa
Air Separation Plant Market by Process Review:
Based on the process, the air separation plant market is segmented into two segments including non-cryogenic, which is further sub-segmented into membrane separation, pressure swing adsorption (PSA), and vacuum pressure swing adsorption (VPSA), and cryogenic. On the basis of process, the non-cryogenic segment is expected to dominate the market in terms of market share, while the cryogenic segment is predicted to grow at the highest rate in terms of CAGR during the forecast period.
Air
Separation Plant Market by Gas Review:
Based on the gas, the market is
segmented into oxygen, nitrogen, argon, carbon dioxide, and others. On the basis
of gas, the nitrogen segment is expected to be the largest in terms of market
share, while the oxygen segment is predicted to grow at the highest rate in
terms of CAGR during the forecast period.
Air
Separation Plant Market by End-Use Industry Review:
Based on the end-use industry, the
market is segmented into oil & gas, iron & steel, healthcare, chemical,
and others. On the basis of end-use industry, the chemical segment is expected
to be the largest in terms of market share, while the healthcare segment is predicted
to grow at the highest rate in terms of CAGR during the forecast period.
Regional
Outlook:
The air separation plant market research report offers
detailed analysis and forecasts for five major regions i.e., North America,
Europe, Asia Pacific (APAC), Latin America, and the Middle East & Africa.
The Asia Pacific region is forecasted to dominate the global
air separation plant market followed by North America, Europe, Latin America,
and Middle East & Africa during the forecast period 2023-2030.
The Asia Pacific region is expected to underscore its market
dominance in the global air separation plant market, with an anticipated market
size of XX.X% in 2023. The main driving forces for the regional air separation
plant market include increased industrialization, increasing need for
healthcare services, and favorable government policies. States such as China
and India are rapidly industrializing especially in areas such as
manufacturing, chemicals and electronics. This increased industrial activity
increases the requirement of industrial gases, thereby positively influencing
the air separation plant market. However, ongoing investments in R&D to
refine the air separation technologies and to increase efficiency as well as to
cut down the operating costs are expected to fuel the regional air separation
plant market during the forecast period 2024-2034.
Increasing industrialization, expansion of healthcare
facilities, and favorable government policies are some of the factors that make
the region an essential market for the air separation plant.
There is an ongoing infrastructure growth in the Asia
Pacific countries that prop up the setting and functioning of air separation
plants. Infrastructure development in the transportation sector, electricity sector,
and industrial parks fosters favorable conditions for industrial developments
hence the need for industrial gases and air separation plants.
Furthermore, diversification and increased usage of industrial gases in various industries across the ASIA PACIFIC region contribute to the growth of the industrial gases market. Different industries such as manufacturing, chemicals, electronics, and healthcare among others benefit in the use of air separation plants for on-site generation of gases and hence boost the market in the area. Moreover, the improvement of air separation technologies like pressure swing adsorption (PSA), and vacuum pressure swing adsorption (VPSA) increases the efficiency and reliability to cut costs which in turn will foster the market growth in the region during the forecast period of 2024-2034.
North America has the significant market share of the global
air separation plant market, contributing to nearly XX. X% market share in
2023. The region has a well-developed industrial infrastructure, a sound
healthcare system, and a large number of key market players. In the
manufacturing industry across the United States of America and Canada,
industrial gases find its extensive application in metal fabrication, chemical
production, and electronics manufacturing. In addition, constant capital
spending’s on the research and development of new air separation technologies
has seen efficiencies increase, coupled with declining operation costs, which
is projected to fuel the growth of the market within the region for the
forecast period of 2024-2034.
Key
Companies in Air
Separation Plant Market:
The research report offers a competitive analysis of
prominent companies operating in the air separation plant market. Some of the
leading players profiled in the market research report include:
·
Linde plc
·
Air Liquide Engineering &
Construction
·
Air Products and Chemicals, Inc.
·
TAIYO NIPPON SANSO CORPORATION
·
Messer Group
·
AIR WATER, INC
·
Enerflex Ltd.
·
Yingde Gases
·
INOX-Air Products
·
Universal Industrial Gases, Inc.
·
Hangzhou Oxygen Plant Group co., Ltd
· Other Players