The report "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", is expected to grow from USD 5.4 billion in 2023 to USD 6.8 billion by 2028, at a CAGR of 4.6%. Crucial information accessible in this research report includes air separation plant market growth drivers, restraints, current trends, economic and financial structures, and other pertinent market details. Due to rapid urbanization and infrastructural development worldwide, emerging economies need a consistent supply of industrial gases for manufacturing, building, and healthcare facilities. Air separation plants are essential for breaking down air into its three main constituents, oxygen, nitrogen, and argon, which are used in a variety of industrial operations. To meet the expanding industrial and infrastructure needs, there is an increase in the demand for air separation plants. 

Browse 234 market data Tables and 47 Figures spread through 294 Pages and in-depth TOC on "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"

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=210435735

Air Separation Plant Market Dynamics

Driver: Growing demand for industrial gases from dynamic manufacturing sectors

Air separation plants are in greater demand due to the rising need for industrial gases like oxygen, nitrogen, and argon in several industries. Industrial gases are essential to steel, chemical, and oil & gas production processes. The use of industrial gases in environmental applications has expanded as a result of the growing focus on environmental sustainability and energy efficiency. The need for industrial gases and air separation facilities rises in tandem with the expansion of these sectors.

Restraint: High costs associated with fabrication, component assembly, and operations

Large-scale machinery, including distillation columns, heat exchangers, compressors, and storage tanks, are produced as part of the manufacture and fabrication of air separation plants. These parts frequently require specialized production techniques, which raises the cost. Air separation systems are frequently modified to meet unique application needs and site requirements. The cost of fabrication may go up if the design is customized and site-specific factors are taken into account. Specific materials that can withstand high temperatures and pressures are needed for air separation plants. These materials are frequently more expensive than conventional materials.

Opportunity: Transition to green technologies

As part of broader efforts to minimize carbon emissions and promote sustainability, the industry has placed much importance on converting air separation plants to green technologies. Air separation facilities are looking into integrating renewable energy sources like wind and solar power to meet their energy needs. Installing on-site renewable energy systems or obtaining renewable energy from the grid might be part of this. The carbon footprint connected to the operation of air separation plants can be significantly decreased by employing renewable energy.

Challenge: Hazards associated with cryogenic air separation technology

There are some risks associated with cryogenic air separation technology, which is often used in air separation plants and must be managed appropriately. One of the leading products of air separation facilities is high-purity oxygen. Oxygen enrichment in the atmosphere or small areas can provide a highly combustible atmosphere. Hazards from fire or explosion are now becoming more probable. Stringent safety precautions must be in place to avoid oxygen enrichment and guarantee optimum ventilation.

Get Sample Copy of this Report: https://www.marketsandmarkets.com/requestsampleNew.asp?id=210435735

By process, the cryogenic segment accounted for the highest air separation plant market share from 2023 to 2028.

The cryogenic segment, by process, the market accounted for the highest share. To produce medical-grade oxygen and nitrogen, which are utilized in healthcare facilities for respiratory therapy, anesthesia, and other medical purposes, cryogenic air separation plants are required. Medical-grade oxygen from cryogenic facilities is necessary for patients who need prompt respiratory support in emergency departments and intensive care units (ICUs). The need for cryogenic air separation facilities in the healthcare industry is rising due to the growing population and the development of healthcare infrastructure.

By gas, the nitrogen segment accounted for the highest air separation plant market share from 2023 to 2028.

The nitrogen segment, by gas, the market accounted for the highest share. Nitrogen is used in various industries, such as in the oil & gas industry nitrogen is used to purge equipment, tanks, and pipelines of toxic vapors & gases and to maintain an inert atmosphere for storing flammable liquids. In the steel industry, nitrogen is used to treat melt in steel manufacturing and as a shielding gas in the heat treatment of iron, steel, and other metals. In the making of steel, nitrogen is employed as a cooling medium. It is frequently used in the process of quenching, which involves rapidly cooling hot steel by exposing it to a nitrogen atmosphere.

By end-use industry, the iron & steel segment accounted for the highest air separation plant market share from 2023 to 2028.

The iron & steel segment, by end-use industry, market accounted for the highest share. Global infrastructural growth, urbanization, and industrial expansion drive the iron and steel industry’s growth. Steel is a key component of machinery and equipment made for a variety of industries, including those in agriculture, mining, energy, and manufacturing. As emerging economies continue to engage in infrastructure development, it is anticipated that the demand for steel in the construction sector will stay robust. As steel production expands, industrial gases produced by air separation plants, such as oxygen, nitrogen, and argon, are in greater demand.

Asia Pacific is the largest region in the air separation plant market.

The need for medicinal gases produced by air separation plants, such as oxygen and nitrogen, is driven by the region’s expanding population and rising healthcare spending in Asia. Medical technology has advanced in the Asia Pacific region, which has led to a greater reliance on medical gases in a variety of diagnostic and therapeutic applications. These gases are utilized in hospitals, clinics, and other healthcare facilities for anesthesia, respiratory therapy, and other medical operations. The demand from the healthcare industry is driving the air separation plant market in the region.

Inquire Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=210435735

Air Separation Plant Market Key Players

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.

Linde Plc

Linde Plc operates in various business segments, such as chemical & energy, manufacturing, healthcare, metals & mining, food & beverage, and electronics. The company designs and manufactures equipment for air separation and other industrial gas applications. Linde Plc serves diverse industries, including healthcare, petroleum refining, manufacturing, food & beverage, fiber-optics, steel making, aerospace, chemicals, electronics, and water treatment. In January 2023, Linde Plc acquired remaining interests in NexAir, LLC, one of the US's most prominent independent packaged gas distributors, to expand its presence in the Southeastern US.

Air Products and Chemicals, Inc.

Air Products and Chemicals, Inc. has a geographic presence in the Americas, Asia Pacific, and Europe. The industrial Gases business of the company produces atmospheric gases, such as oxygen, nitrogen, and argon, and process gases, such as hydrogen, helium, carbon dioxide (CO2), carbon monoxide, syngas, and specialty gases. The company’s Industrial Gases – Global segment includes activities related to the sale of cryogenic and gas processing equipment for air separation. In May 2023, Air Products and Chemicals, Inc. acquired Uzbekneftegaz’s advanced gas-to-liquids facility in Uzbekistan.