Air Separation Plant Market Size, Share, Analysis, Trends, Growth, 2032

Air Separation Plant Market Insights

According to a report from Zion Market Research, the global Air Separation Plant Market was valued at USD 5.73 Billion in 2023 and is projected to hit USD 8.78 Billion by 2032, with a compound annual growth rate (CAGR) of 4.4% during the forecast period 2024-2032. This report explores market strengths, weakness, opportunities, and threats. It also provides valuable insights into the market's growth drivers, challenges, and the future prospects that may emerge in the Air Separation Plant Market industry over the next decade.

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The report offers an assessment and analysis of the Air Separation Plant market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, revenue estimates, opportunities, evolving trends, and industry-validated data. The report provides historical data from 2018 to 2022 along with a forecast from 2024 to 2032 based on revenue (USD Billion).

Air Separation Plant Market: Overview

Air separation plants bifurcate air in the atmosphere into key components including oxygen and nitrogen as well as argon & other kinds of inert gases. Moreover, the common method for separating the air from the atmosphere is fractional distillation. Apart from this, air separation units also make use of vacuum pressure swing adsorption and pressure swing adsorption methods for separating a sole component from the air. Additionally, argon, oxygen, and nitrogen are utilized for semiconductor equipment fabrication that needs cryogenic distillation.

Air Separation Plant Market: Growth Dynamics

Escalating demand for air separation units in healthcare, iron & steel, chemical, oil & gas, and other end-use sectors. In addition to this, firms are highlighting re-engineering air separation methods for improving operational efficacy, surge production capacity, and minimize power usage & production costs, thereby driving market trends. Apparently, air separation units make use of atmospheric air separation methods in coal gasification as well as drug manufacturing activities, thereby steering the expansion of the air separation plant industry during 2020-2026. Furthermore, air separation units reduce technical risks and this will steer the business growth.

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Air Separation Plant Market: Report Scope

Air Separation Plant Market: Growth Dynamics

Asia Pacific Air Separation Plant Market Size To Hit Scalable Heights By 2032

The regional market growth over the assessment period is owing to a surge in the production of metals as well as their fabrication as well as their massive use in India, Japan, and China. With Asia Pacific accounting for the largest production & use of steel across the globe, the market for air separation plants in Asia Pacific is likely to gain traction over the years ahead. In addition to this, the Asia Pacific zone possesses one of the largest oil refining units, thereby further driving the industry landscape in the zone.

Air Separation Plant Market: Competitive Landscape

Key players profiled in the report include 

• Air Liquide SA
• Yingde Gases Group Co., Ltd.
• Taiyo Nippon Sanso Corporation 
• Enerflex Ltd. 
• Air Water Inc. 
• Messer Group GmbH 
• Air Products and Chemicals, Inc. 
• Daesung Industrial Co., Ltd.
• Enerflex Ltd.
• Linde Plc
• Messer Group GmbH.

The global Air Separation PlantMarket is segmented as follows:

By End-Use Industry

• Iron & Steel
• Healthcare
• Oil & Gas
•  Chemical

By Process

• Cryogenic
• Non-Cryogenic

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa