[148 Pages] Air Separation Plant Market research report categorizes the global market by End User (Chemical, Healthcare, Iron & Steel, Oil & Gas), Process (Non-Cryogenic, Cryogenic), Gas (Oxygen, Argon, Nitrogen) & by Geography.
2. Air Separation Plant Market worth 7.27 Billion USD | Global
Forecast to 2026
The global Air Separation Plant Market is projected to reach USD 7.27 Billion by 2026, at a CAGR
of 5.3% between 2016 and 2026. This growth of this market can be attributed to the growing
demand from the metal fabrication industry in the developed economies, including the U.S. and
the European countries, coupled with the increasing expenditure on iron & steel production and
petrochemical industries in emerging economies including China, India, Brazil, South Africa, and
the UAE.
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Air separation plants are used for purification of various components of air, in particular oxygen,
nitrogen, argon, and sometimes other rare inert gases. For air separation, effective sizing and
selection of separation equipment is always a combination of analytical modeling and empirical
observation.
Air separation plants are manufactured depending on what gases are produced, capacity, and
purity. The most apt process which has the least energy consumption and purchase price is
selected without neglecting the requirement in the end-use specifications. Cryogenic and non-
cryogenic are the two technologies that are used for air separation process, the most commonly
used technology being the cryogenic process. Cryogenic technology is a process of high energy
consumption.
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The emerging economies have been focusing on industrialization over the last few decades.
Countries such as China, India, Indonesia, South Africa, and Brazil are transforming their
economies from being agriculture-based to manufacturing- and other industries-based. With the
emergence of new industries and technological developments in the manufacturing sector, the
need for effective air separation plant has increased significantly. The global air separation plant
market is projected to reach USD 7.27 billion by 2026, at a CAGR of 5.3% from 2016 to 2026.
On the basis of end users, the air separation plant market has been categorized into iron & steel,
oil & gas, chemical, healthcare, and others. The others segment includes food & beverage, glass,
and coal gasification industries.
3. Iron & steel segment dominated the air separation plant market in 2015 with a share of around
60%. This segment is expected to continue its dominance in the coming years owing to the high
demand from North America, South America, and Africa. Moreover, increasing demand for iron &
steel products from developing countries in Asia-Pacific and the Middle Eastern regions for
infrastructural development is also boosting the growth of the air separation plant market.
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The primary processes involved in air separation are cryogenic and non-cryogenic. Between 2016
and 2021, the cryogenic segment is projected to be the fastest-growing process segment owing to
the high demand from the iron & steel industry. The reliability of cryogenic ASU technology is
very high, often exceeding 99%, which has increased its demand from fabricated metals and
alloys industry across the globe. In addition, increasing dependency on pure gases for enhancing
end products and rapid industrialization are expected to drive this segment during the next five
years.
In 2015, Asia-Pacific dominated the global air separation plant market, followed by North America
and Europe. Asia-Pacific is also the fastest-growing air separation plant market. The air separation
plant market is developed in North America and Europe, while in China, India, and other APAC
countries, this market is projected to grow significantly from 2016 to 2021. These countries are
transforming their economies from agriculture-based to manufacturing and other industry-based
economies. The growth of the Asia-Pacific region is supplemented by the expansion of the metal
fabrication industry, growth of the chemical and electronics sectors, coupled with the growing
medical/healthcare industry in developing economies such as Indonesia, India, and China.
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