Market Insights
Air separation is a vital activity which provides required components across a wide variety of industries. Market Research Future has published its detailed report on the global air separation plant market which is anticipated to grow consistently over the forecast period of 2016 to 2022. Air separation plants are actively used to separate atmospheric air into primary components which include oxygen, nitrogen, hydrogen, and other inert gases. Valued at USD 4,132 Mn in 2015, the global air separation plant market is expected to grow to reach an evaluation of USD 5,852.7 Mn by the end of the review period.
Several advancements in the separation process used in air separation plants; this has led to increased use and construction of such plants. Industrial applications of specialty gases such as carbon dioxide, helium, argon, hydrogen, nitrogen, oxygen, and acetylene have grown, and as a result, there has been the considerable growth of the air separation market. Specialized applications for the same requires the use of these gases, making them indispensable in lighting, laser & chemicals among others. Moreover, these separated gases are also used extensively in various end-use industries which are flourishing and increasing the demand for gases provided by air separation plants.
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Market Segmentation
The global air separation market is segmented on the basis of type, process, application, gas, and region. By type, the market is categorized into under 20,000 M3/H, 20,000-40,000 M3/H, 40,000 – 80,000 M3/H, and more than 80,000 M3/H. By process, the market is divided into cryogenic distillation process and noncryogenic distillation process. By application, the market includes paper, metallurgy, chemical, oil & gas, and others. By gas, the market is segmented into oxygen, nitrogen, argon, and carbon dioxide.
The global division of the air separation market segments it into North America, Europe, Asia Pacific, and the Rest of the World.
Regional Analysis
Asia Pacific accounts for the largest regional market with a market share of 40.70% and a projected CAGR of 6.09% during the assessment period. The region’s growth is driven by the high number of industrial activities and the growing healthcare sector which is increasingly imposing stringent environmental regulations.
Meanwhile, the North American market accounts for the second largest region which was valued at USD 1,223.1 Mn in 2015. Growth is led by the US, and the region is expected to witness a CAGR of 4.70% over the forecast period.
Key Players
Market players profiled in the report include Air Products and Chemicals Inc., Messer Group GmbH, Linde AG, Praxair Inc., Air Liquide S.A, Taiyo Nippon Sanso Corporation, Enerflex, Universal Industrial Gases, Technex Limited, and Gas Engineering LLC.
Latest Industry News
Praxair has commenced operations at two new air separation plants in Southern China PetroChemical Park. The increased capacity has four air separation units and has 2,400 tonnes per day of oxygen capacity each. The plants primarily serve China National Offshore Oil Corporation.
Air Products has received a contract to supply syngas to Jiutai New Material Co Lt in China. Commencement of operations is projected in the fourth quarter of 2021.
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