Global Oxygen Market- Overview:
Oxygen is a colorless gas that is a vital factor in sustaining life. Oxygen is available in bottles, containers and cans. They are mainly used for industrial, medical and scientific applications. Oxygen is used as an oxidizing agent and catalyst in various scientific and industrial processes. The oxygen market is experiencing significant growth that has led to an increase in related markets, such as medical oxygen generators, air and oxygen mixers, and fixed and portable oxygen concentrators.
The global oxygen market is divided into different forms, applications, end users and geographical areas. Based on a form of oxygen, the market separates into solids, liquids and gases. Based on applications, the market is classified in cosmetic, pharmaceutical, automotive, mining and mineral processing applications. Based on the end users, the market is classified in the industrial, medical and scientific sectors.
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Global Oxygen Market-Drivers and Restraints:
The oxygen market is a growing market due to factors such as increased oxygen demand in sectors such as automotive, agriculture, chemicals, beverages, food, construction equipment, medicine, glass, space exploration, shipbuilding and steelworks. The increasing use of oxygen as a catalyst and oxidizing agent, and the increasing use of oxygen as a device and respiratory aid due to increasing contamination is another factor that contributes to the growth of the market. However, the growth of the oxygen market has certain limiting factors, such as the lack of safety measures taken during the handling of oxygen that results in serious injuries and a high cost of oxygen production for purposes in the industrial and medical sectors.
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Global Oxygen Market-Geographic Segmentation:
Most of the oxygen market is in the hands of the Asia-Pacific region. This growth can be attributed to reasons such as growth in the manufacturing sector and medical care. In addition, the growth of the mineral processing and extraction industries, where oxygen is a key catalyst, is also contributing to the expansion of the oxygen market in the region. Regions such as China, Japan, India, Australia and New Zealand make an important contribution to the Asia-Pacific market. The market in North America and Europe is growing strongly due to the increase in oxygen consumption in waste recycling and scientific applications. The main contributing countries are the United States and Canada in North America and Italy, Germany, the United Kingdom, France, Spain, Poland and Russia in the European region. The countries of Latin America, such as Brazil, Mexico and Argentina, as well as the countries of the Middle East and Africa, such as South Africa and North Africa, represent an equal share of the market.
Some of the Key Players in Global Oxygen Market:
The Linde Group, Praxair Technology Inc., Air Liquide, Airgas Inc., Taiyo Nippon Sanso, Yingde Gases, Air Water Inc, Guangdong Haute Gas Co. Ltd., and Baosteel Metal Co. Ltd.
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