The global air separation plant market size is expected to reach USD 6.37 billion by 2028 according to a new study by Polaris Market Research. The report “Air Separation Plant Market Share, Size, Trends, Industry Analysis Report, By Gas (Oxygen, Nitrogen, Argon, Others); By Process; By End-Use; By Region; Segment Forecast, 2021 - 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The driving factors of the separation plant industry include the rising need to improve manufacturing productivity and the growing modernization of manufacturing processes. Rapid technological advancements and the introduction of stringent government regulations have further increased the adoption of separation plants.
The outbreak of COVID-19 has necessitated the use of separation plants to overcome the shortage of medical oxygen in hospitals. Nevertheless, the pandemic has had a severe impact on businesses such as industrial production, transportation, oil and gas, chemicals, and automotive, stifling market growth.
On the basis of gas, the market is segmented into oxygen, nitrogen, argon, and others. The demand for nitrogen is anticipated to increase during the forecast period owing to wide use in applications such as food and beverages, stainless steel manufacturing, fire suppression systems, and tire filling systems, among others.
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Nitrogen is used to preserve food products as it provides an unreactive atmosphere. Pure nitrogen or in combination with carbon dioxide preserves the freshness of packaged or bulk foods. It is also utilized in chemical analysis and in the reduction of the volume of liquid samples. It also finds application in manufacturing fertilizers, nitric acid, nylon, dyes, and explosives. Governments across the globe are introducing stringent regulations owing to rising environmental concerns and growing awareness, supporting the industry growth.
On the basis of process, the market is segmented into cryogenic distillation and non-cryogenic distillation. The demand for cryogenic distillation is expected to increase during the forecast period owing to its high efficiency and cost-effectiveness. This factory is used in medium to large-scale plants for a high yield of gases such as oxygen and nitrogen. Technological advancements and investments in R&D have resulted in the development of advanced separation factories with higher efficiency.
Some leading market participants include Air Products and Chemicals, Inc., Air Liquide SA, Air Water Inc., China air separation equipment Co., Ltd., AMCS Corporation, CRYOTEC Anlagenbau GmbH, Enerflex Ltd., Gas Engineering, LLC, WesTech Engineering, Inc., Gulf Gases, Inc., Toro Equipment, Daesung Industrial Co., Ltd., Hangzhou Hangyang Co., Ltd., Linde Plc, NOVAIR MEDICAL, Messer Group GmbH, Phoenix Corporation, Taiyo Nippon Sanso Corporation, Praxair Technology, Inc., Technex, and Yingde Gases Group Co., Ltd.
Industry players are collaborating with each other for research and development, strengthening industry presence, and technological innovation. Greater need to cater to growing customer requirements has encouraged industry participants to leverage new technologies to develop high-quality products.
Polaris Market Research has segmented the air separation plant market report on the basis of gas, process, end-use, and region:
Air Separation Plant, Gas Outlook (Revenue, USD Billion, 2016 - 2028)
Air Separation Plant, Process Outlook (Revenue, USD Billion, 2016 - 2028)
Air Separation Plant, End-Use Outlook (Revenue, USD Billion, 2016 - 2028)
Air Separation Plant, Regional Outlook (Revenue, USD Billion, 2016 - 2028)