Air Separation Plant Market: Unveiling Growth Opportunities in Industrial Gas, Healthcare, and Metal Fabrication Sectors
The air separation plant market is projected to grow from USD 5.4 billion in 2023 to USD 6.8 billion by 2028, at a CAGR of 4.6% from 2023 to 2028. The expanding industrial sector significantly influences the market for air separation plants, particularly in developing nations. Enormous quantities of gases like nitrogen, oxygen, and argon are needed by industries including oil & gas, chemicals, steel, healthcare, and electronics, and air separation plants produce these gases.
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Companies such as Linde Plc (UK), Air Liquide SA (France), Air Products and Chemicals, Inc. (US), Taiyo Nippon Sanso Corporation (Japan), and Messer Group GmbH (Germany) fall under the winners’ category. These are leading players in the air separation plant market globally. These players have adopted the strategies of acquisition, agreement, contract, divestment, expansion, investment, joint venture, merger, and new product development to fulfill the rising demand for air separation plants on the regional and global levels.
Linde Plc
Linde Plc operates in various business segments, such as chemical & energy, manufacturing, healthcare, metals & mining, food & beverage, and electronics. The company designs and manufactures equipment for air separation and other industrial gas applications. Linde Plc serves diverse industries, including healthcare, petroleum refining, manufacturing, food & beverage, fiber-optics, steel making, aerospace, chemicals, electronics, and water treatment. In January 2023, Linde Plc acquired remaining interests in NexAir, LLC, one of the US’s most prominent independent packaged gas distributors, to expand its presence in the Southeastern US.
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Air Products and Chemicals, Inc.
Air Products and Chemicals, Inc. has a geographic presence in the Americas, Asia Pacific, and Europe. The industrial Gases business of the company produces atmospheric gases, such as oxygen, nitrogen, and argon, and process gases, such as hydrogen, helium, carbon dioxide (CO2), carbon monoxide, syngas, and specialty gases. The company’s Industrial Gases – Global segment includes activities related to the sale of cryogenic and gas processing equipment for air separation. In May 2023, Air Products and Chemicals, Inc. acquired Uzbekneftegaz’s advanced gas-to-liquids facility in Uzbekistan.
Air Liquide SA
Air Liquide SA operates in North America, Europe, South America, Asia Pacific, Middle East & Africa. The company’s Global Markets & Technologies segment provides utility gases for companies operating in the maritime sector, namely, offshore oil and gas platforms (construction and maintenance, support to drilling, analytical services, diving gases), offshore wind turbines, and cryogenic transportation by sea. In February 2021, Air Liquide SA signed a new long-term contract to supply oxygen and nitrogen to one of BASF’s largest European sites.
The Asia-Pacific (APAC) region was indeed one of the largest and fastest-growing regions in the air separation plant market. The demand for air separation plants in the APAC region was driven by several factors, including rapid industrialization, increasing manufacturing activities, and the rising demand for gases in various industries. Countries like China, India, Japan, and South Korea have witnessed significant growth in their industrial sectors, leading to an increased need for industrial gases produced by air separation plants. These gases, such as oxygen, nitrogen, and argon, are vital in various industries, including metallurgy, healthcare, electronics, and chemicals.
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