What Factors Impacting Air Separation Unit Market Growth?
As per the analysis by Market Research Future Reports (MRFR), the global air separation plants market is estimated to value over USD 6,636 million by 2025 with a CAGR of 5.02% during the forecast period.
The global air separation plant is very competitive and is likely to experience expansion during the review period. The expansion of the air separation unit market 2020 is affected by product innovation and technologies. Moreover, increased demand for industrial and specialty gases has resulted in an expansion of the market at a global level. Moreover, the rapid industrialization in developing economies and increased usage of industrial gases in the PV industry and innovating technologies are estimated to propel the market during the review period. However, the expenses involved are a huge barrier to the expansion of the global air separation plants market. The expense of electricity is the most considerable operating price incurred in air separation plants. Apart from this, the electric motors that are used for the compression device, cooling system and heaters also add more to the cost. Additionally, the expensive cost of laser and infrared technology-based equipment for operation tracking in plants for the appropriate and efficient solution will add more to the overall expense. These factors are likely to bring constraints to the expansion of the global air separation unit market during the review period.
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On the basis of application, the global air separation plants market has been classified as an oil and gas industry, chemical, metallurgy, paper, and others. In 2018, the metallurgy vertical reigned the market and was dominant throughout the period.
On the basis of process, the global air separation plants market has been classified into non-cryogenic and cryogenic distillation. Between these two processes, the cryogenic distillation process acquires the largest market share, followed by the non-cryogenic distillation process.
On the basis of type, the global air separation market has been classified into 20000 m3/h, 20,000-40,000 m3/h, 40,000-80,000 m3/h, and more than 80,000 m3/h. In 2018, the global market was dominated by 20,000-40,000 m3/h vertical and is anticipated to dominate throughout the review period. They are generally used in welding, heat treatment process, and pulp and paper industry. This is expected to increase the demand for 20,000-40,000 m3/h capacity type air separation plants in the global market during the review period.
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In the Asia Pacific region, the increasing demand for industrial gases with high purity levels from end-use sectors such as chemical and petrochemicals, oil & gas industry has led to the expansion of the air separation plants sector. Additionally, strict safety and environmental regulations in the field of the healthcare vertical and as well as growing demand for photovoltaic products is affecting the demand for air separation plants.
Europe is a potential land for air separation plants under verticals such as by gas and process. European governments like Germany and France spend an enormous amount on technology and infrastructure for lessening the cost of capital and making the process efficient.
North America is one of the leading producers and distributors of cylinder filling plants, high purity oxygen and various gas producer for industrial, medical, and other applications.
The major players of the global air separation plants market are Air Liquide SA, Linde AG, Praxair, Inc., Taiyo Nippon Sanso Corporation, Air Products and Chemicals, Inc., Messer Group GmbH, Enerflex Ltd., Technex Ltd., Universal Industrial Gases, and Gas Engineering LLC.
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