Demand for Air Separation Plant to Reach New Heights as Manufacturers Increase Focus on Technological Innovations| MarketsandMarkets™

Air separation plants are industrial facilities that separate atmospheric air into its three primary constituents: oxygen, nitrogen, and argon. To allow for the separation of the components, the air is compressed and cooled. The oxygen, nitrogen, and argon are then collected and used in a variety of ways, including the production of industrial gases, welding, flame-cutting, and fertilizer production. Because of the numerous industrial and commercial applications for the gases produced by air separation plants, they are in high demand. The global air separation plants market is projected to reach USD 5.9 billion by 2026, at a CAGR of 4.9% between 2021 and 2026. The global market for air separation plants is driven by strong growth in demand, especially from the iron & steel, oil & gas, chemical, healthcare, and other end-use industries.

The Asia Pacific air separation plant market is expected to grow at the fastest rate during the forecast period, owing to rising demand for air separation plants from the region's expanding petrochemical and power industries. The region's expanding industrial sector is expected to be a major driver of the air separation plant market's growth. Furthermore, rising demand for nitrogen and oxygen for industrial applications such as metal cutting and welding is expected to drive the growth of the region's air separation plant market. The increasing use of air separation plants for the production of medical oxygen is also expected to boost the growth of the region's air separation plant market. Furthermore, rising government initiatives to promote the growth of renewable energy sources are expected to fuel regional demand for air separation plants, driving market growth.

Linde Plc (UK), Air Liquide SA (France), Air Products and Chemicals, Inc. (US), Taiyo Nippon Sanso Corporation (Japan), Messer Group GmbH (Germany), Daesung Industrial Co., Ltd. (South Korea), Air Water Inc. (Japan), Enerflex Ltd. (Canada), Yingde Gases Group Co., Ltd. (Hong Kong), are among the key players leading the market through their innovative offerings, enhanced production capacities, and efficient distribution channels. Other noteworthy players included in this report are Inox Air Products Private Limited (India), Hangzhou Hangyang Co., Ltd. (China), Universal Industrial Gases, Inc. (US), Nikkiso Cosmodyne, LLC. (US), and SIAD Macchine Impianti S.p.A. (Italy). Apart from global companies, the air separation plant market comprises several companies that conduct their business activities at a regional and local level. These include Ranch Cryogenics, Inc. (US), Technex Limited (Ukraine), Phoenix Equipment Corporation (US), AMCS Corporation (US), Universal ING. L. & A. Boschi Plants Private Limited (India), China National Air Separation Plant Corporation (China), Gas Engineering, LLC. (US), Cryotec Anlagenbau GmbH (Germany), and Novair SAS (France). Key market players have focused on agreements, acquisitions, contracts, new product launches, expansions and investment to cater to the demand for air separation plants across various end-use industries.
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