Abstract
Summary
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. Industries are being forced to invest in dependable and effective air separation systems by stringent government laws and safety standards connected to the use of industrial gases. The air separation plant market is expanding due to restrictions regarding gas purity, storage, and transportation.
“By process, the cryogenic segment is estimated to be the fastest-growing segment of the air separation plant market from 2023 to 2028.”
Based on the process, cryogenic is estimated to be the fastest-growing segment during the forecast period. Industrial gases like oxygen, nitrogen, and argon can be produced on a massive scale by using cryogenic air separation. The cryogenic technique makes it possible to separate and purify air components effectively, assuring a steady supply of gases in large numbers. Cryogenic air separation technology has advanced recently, increasing energy effectiveness, better process control, and purer generated gases. These technological developments increase the appeal of cryogenic air separation plants to industries, increasing demand.
“By gas, the nitrogen segment is estimated to be the fastest-growing segment of the air separation plant market from 2023 to 2028.”
Based on gas, nitrogen is estimated to be the fastest-growing segment during the forecast period. Nitrogen is a highly demanded industrial gas due to its adaptability and variety of uses, which ensures a continual demand for nitrogen output from air separation plants. The oil & gas sector uses nitrogen for purging, cleaning, and enhanced oil recovery (EOR) procedures. Additionally, nitrogen is used in gas blanketing to shield equipment from corrosion and stop the creation of explosive combinations.
“By end-use industry, the iron & gas segment is estimated to be the fastest-growing air separation plant market segment from 2023 to 2028.”
Based on the end-use industry, the end-use industry is estimated to be the fastest-growing segment during the forecast period. The iron and steel industry routinely uses oxygen enrichment to increase combustion effectiveness and lower energy usage. Various steelmaking processes, including oxygen furnaces, oxygen converters, and ladle furnaces, all rely on oxygen. Air separation plants provide high-purity oxygen for use in various operations. The adoption of oxygen enrichment technologies drives the demand for air separation plants.
“The air separation plant market in the Asia Pacific region is projected to witness the highest CAGR during the forecast period.”
The Asia Pacific region is projected to register the highest CAGR in the air separation market from 2023 to 2028. The Asia Pacific region is known for its ongoing innovation and technological developments. Investments in air separation plants need to consider eco-friendly practices and technologies due to the region's growing emphasis on environmental sustainability and energy efficiency. Manufacturers of air separation plants in the area are investing in R&D to increase plant productivity, increase automation, and lower energy usage. These developments increase the appeal of air separation plants to industries, hence raising demand.
Profile break-up of primary participants for the report:
• By Company Type: Tier 1 – 55%, Tier 2 – 30%, and Tier 3 – 15%
• By Designation: C-level Executives – 21%, Directors – 23%, and Others – 56%
• By Region: North America – 45%, Europe –27%, Asia Pacific – 15%, South America-7% , and Middle East & Africa-6%
The air separation plant report is dominated by players such as 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), Inox Air Products Private Limited (India), Hangzhou Hangyang Co., Ltd. (China), Universal Industrial Gases, Inc. (US), Nikkiso Cosmodyne, LLC. (US) and others.
Research Coverage:
The report defines, segments, and projects the air separation plant market size based on process, gas, end-use industry, and region. It strategically profiles the key players and comprehensively analyzes their market share and core competencies. It also tracks and analyzes competitive developments, such as acquisitions, agreements, contracts, divestment, expansion, investment, joint venture, mergers, and new product development undertaken by them in the market.
Reasons to Buy the Report:
The report is expected to help the market leaders/new entrants by providing them with the closest approximations of revenue numbers of the air separation plant market and its segments. This report is also expected to help stakeholders understand the market’s competitive landscape better, gain insights to improve the position of their businesses and make suitable go-to-market strategies. It also enables stakeholders to understand the market’s pulse and provides information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
• Analysis of key drivers (growing demand for industrial gases from the dynamic manufacturing sector), restraints (high cost associated with fabrications, component assembly, and operations), opportunities (emerging application from glass, gasification, and gas to liquid industries), and challenges (development of affordable as well as effective technologies) influencing the growth of the air separation plant market.
• Product Development/Innovation: Detailed insights on upcoming technologies, research &
development activities in the air separation plant market.
• Market Development: Comprehensive information about lucrative markets – the report analyses
the air separation plant market across varied regions.
• Market Diversification: Exhaustive information about new products & services, untapped
geographies, recent developments, and investments in the air separation plant market.
• Competitive Assessment: In-depth assessment of market shares, growth strategies, and service
offerings of leading players like Linde Plc (UK), Air Liquide SA (France), Air Products and Chemicals, Inc. (US), Taiyo Nippon Sanso Corporation (Japan), Messer Group GmbH (Germany), among others in the air separation plant market.
Table of Contents
1 INTRODUCTION 35
1.1 STUDY OBJECTIVES 35
1.2 MARKET DEFINITION 35
1.3 INCLUSIONS & EXCLUSIONS 36
1.4 MARKET SCOPE 38
1.4.1 AIR SEPARATION PLANT MARKET SEGMENTATION 38
1.4.2 YEARS CONSIDERED FOR THE STUDY 38
1.5 CURRENCY 39
1.6 LIMITATIONS 39
1.7 STAKEHOLDERS 39
1.8 SUMMARY OF CHANGES 40
2 RESEARCH METHODOLOGY 41
2.1 RESEARCH DATA 41
2.1.1 SECONDARY DATA 42
- 2.1.1.1 Key data from secondary sources 42
2.1.2 PRIMARY DATA 43
- 2.1.2.1 Key data from primary sources 43
- 2.1.2.2 Companies participating in primary research 43
- 2.1.2.3 Key industry insights 44
- 2.1.2.4 Breakdown of primary interviews 44
2.2 BASE NUMBER CALCULATION 45
2.2.1 SUPPLY-SIDE APPROACH 45
2.2.2 DEMAND-SIDE APPROACH 46
2.3 MARKET SIZE ESTIMATION 46
2.3.1 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH 47
2.3.2 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH 47
2.4 RECESSION IMPACT 48
2.5 DATA TRIANGULATION 48
2.6 ASSUMPTIONS 49
2.7 RISK ASSESSMENT 50
3 EXECUTIVE SUMMARY 51
4 PREMIUM INSIGHTS 56
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN GLOBAL AIR SEPARATION PLANT MARKET 56
4.2 ASIA PACIFIC AIR SEPARATION PLANT MARKET, BY END-USE INDUSTRY AND COUNTRY 57
4.3 AIR SEPARATION PLANT MARKET, MAJOR COUNTRIES 57
5 MARKET OVERVIEW 58
5.1 INTRODUCTION 58
5.2 MARKET DYNAMICS 59
5.2.1 DRIVERS 59
- 5.2.1.1 Growing demand for industrial gases from dynamic manufacturing sectors 59
- 5.2.1.2 Increased demand from healthcare and medical applications 61
5.2.2 RESTRAINTS 62
- 5.2.2.1 High cost associated with fabrication and operation 62
5.2.3 OPPORTUNITIES 63
- 5.2.3.1 Transition to green technologies 63
- 5.2.3.2 Demand for industrial oxygen in Africa 63
- 5.2.3.3 Emerging applications in glass, gasification, and gas-to-liquid industries 63
5.2.4 CHALLENGES 64
- 5.2.4.1 Development of affordable and more effective technologies 64
- 5.2.4.2 Hazards associated with cryogenic air separation technology 64
5.3 PORTER’S FIVE FORCES ANALYSIS 65
5.3.1 THREAT OF NEW ENTRANTS 66
5.3.2 THREAT OF SUBSTITUTES 66
5.3.3 BARGAINING POWER OF SUPPLIERS 66
5.3.4 BARGAINING POWER OF BUYERS 67
5.3.5 INTENSITY OF COMPETITIVE RIVALRY 67
6 INDUSTRY TRENDS 68
6.1 PATENT ANALYSIS 68
6.1.1 METHODOLOGY 68
6.1.2 PATENT PUBLICATION TRENDS 68
6.1.3 INSIGHT 69
6.1.4 JURISDICTION ANALYSIS 69
6.1.5 TOP COMPANIES/APPLICANTS 70
- 6.1.5.1 Major patents 70
6.2 REGULATORY LANDSCAPE 71
6.2.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 75
6.3 KEY CONFERENCES AND EVENTS, 2023 76
6.4 SUPPLY CHAIN ANALYSIS 76
6.5 VALUE CHAIN ANALYSIS 79
6.6 CASE STUDY ANALYSIS 81
6.6.1 INDUSTRIAL 81
- 6.6.1.1 Hangzhou Hangyang Co., Ltd. helps Zhongxin Nenghua Technology Co., Ltd. to design deep cryogenic separation device 81
- 6.6.1.2 Linde plc agrees to supply nitrogen, oxygen, and compressed air to BorsodChem Zrt 81
- 6.6.1.3 Air Products and Chemicals, Inc. to construct coal-to-methanol production facility in Indonesia 82
6.6.2 CHEMICAL 82
- 6.6.2.1 Air Liquide to provide gaseous oxygen, nitrogen, and syngas to Eastman Chemical Company 82
- 6.6.2.2 Air Products and Chemicals, Inc. announces buy-back of ASUs from Shanxi Jinmei Huayu Coal Chemical Co., Ltd 82
6.6.3 FOOD & BEVERAGES 82
- 6.6.3.1 Linde plc supplies nitrogen and oxygen for MEGlobal’s new ethylene glycol plant 82
6.6.4 GLASS & CERAMICS 83
- 6.6.4.1 Messer Group GmbH to construct air separation unit for Saint-Gobain Isover AG 83
6.6.5 ELECTRONICS & SEMICONDUCTOR 83
- 6.6.5.1 Linde plc to provide high purity on-site plants in Taiwan 83
- 6.6.5.2 Linde plc sets up high purity nitrogen generator for leading Chinese semiconductor manufacturer 83
- 6.6.5.3 Linde plc provides new air separation unit for Samsung 83
- 6.6.5.4 Air Products and Chemicals, Inc. sets up first cryogenic nitrogen separation plant in Malaysia 83
6.6.6 HEALTHCARE 84
- 6.6.6.1 Air Liquide China builds ASU to meet increasing demand for medical gases 84
6.7 B2B MARKETING CHANNELS - COMPARATIVE ANALYSIS 84
6.7.1 CASE STUDY - LINDE PLC USES MULTIPLE MARKETING CHANNELS TO INCREASE FOOTPRINT 87
6.8 PARTNERSHIPS 87
6.9 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS 97
6.10 ECOSYSTEM 98
6.11 TECHNOLOGY ANALYSIS 99
6.11.1 BASIC AIR SEPARATION PLANT COMPONENTS 99
- 6.11.1.1 Main Air Compressor (MAC) 99
- 6.11.1.2 Pre-purification Unit (PPU) 99
- 6.11.1.3 Cold box 99
- 6.11.1.4 Expander 99
6.11.2 CRYOGENIC DISTILLATION 100
6.11.3 PRESSURE SWING ADSORPTION 100
6.11.4 MEMBRANE SEPARATION 100
6.12 IMPORT & EXPORT TRADE ANALYSIS 100
6.13 KEY STAKEHOLDERS AND BUYING CRITERIA 102
6.13.1 KEY STAKEHOLDERS IN BUYING PROCESS 102
6.13.2 BUYING CRITERIA 102
7 AIR SEPARATION PLANT MARKET, BY PROCESS 104
7.1 INTRODUCTION 105
7.2 CRYOGENIC 106
7.2.1 INCREASING DEMAND FOR GASES FOR INDUSTRIAL ACTIVITIES TO DRIVE SEGMENT 106
7.3 NON-CRYOGENIC 107
7.3.1 COST-EFFECTIVENESS AND EASY START-UP FEATURES TO FUEL DEMAND 107
- 7.3.1.1 Pressure swing adsorption (PSA) 108
- 7.3.1.2 Vacuum pressure swing adsorption (VPSA) 108
- 7.3.1.3 Membrane separation 108
8 AIR SEPARATION PLANT MARKET, BY GAS 110
8.1 INTRODUCTION 111
8.2 NITROGEN 112
8.2.1 USE IN BLANKETING AND INERTING ACROSS MULTIPLE END-USE INDUSTRIES TO BOOST DEMAND 112
8.3 OXYGEN 114
8.3.1 RISING NEED FOR MEDICAL OXYGEN TO FUEL SEGMENT GROWTH 114
8.4 ARGON 115
8.4.1 WIDE USAGE IN INDUSTRIAL AND ELECTRONICS APPLICATIONS TO DRIVE DEMAND 115
8.5 OTHERS 117
9 AIR SEPARATION PLANT MARKET, BY END-USE INDUSTRY 118
9.1 INTRODUCTION 119
9.2 IRON & STEEL 120
9.2.1 HIGH CONSUMPTION OF GAS IN PRODUCTION PROCESS TO DRIVE MARKET 120
9.3 OIL & GAS 121
9.3.1 USE OF INDUSTRIAL GASES FOR DOWNSTREAM AND UPSTREAM PROCESSES TO BOOST SEGMENT GROWTH 121
- 9.3.1.1 Upstream 122
- 9.3.1.2 Downstream 122
9.4 CHEMICAL 123
9.4.1 RESURGENCE IN GLOBAL CHEMICAL INDUSTRY TO DRIVE DEMAND 123
9.5 HEALTHCARE 124
9.5.1 INCREASING CONSUMPTION OF MEDICAL GASES TO DRIVE SEGMENT 124
9.6 OTHERS 125
10 AIR SEPARATION PLANT MARKET, BY REGION 127
10.1 INTRODUCTION 128
10.2 ASIA PACIFIC 129
10.2.1 ASIA PACIFIC: IMPACT OF RECESSION 130
10.2.2 CHINA 133
- 10.2.2.1 Increasing steel production to spur market growth 133
10.2.3 JAPAN 135
- 10.2.3.1 Demand for industrial gases from manufacturing sector to drive market 135
10.2.4 INDIA 136
- 10.2.4.1 Growing metal and construction industries to fuel market growth 136
10.2.5 SOUTH KOREA 138
- 10.2.5.1 Increasing use of electronic appliances to drive demand 138
10.2.6 AUSTRALIA & NEW ZEALAND 139
- 10.2.6.1 Demand from iron & steel and healthcare industries to contribute to market growth 139
10.2.7 REST OF ASIA PACIFIC 141
10.3 EUROPE 142
10.3.1 EUROPE: IMPACT OF RECESSION 143
10.3.2 GERMANY 146
- 10.3.2.1 Rising demand from manufacturing industry to boost market 146
10.3.3 FRANCE 147
- 10.3.3.1 Chemical and food & beverage industries to drive demand 147
10.3.4 UK 149
- 10.3.4.1 Demand for medical gases from healthcare industry to drive market 149
10.3.5 ITALY 150
- 10.3.5.1 Increasing demand from chemical industry to boost market 150
10.3.6 SPAIN 152
- 10.3.6.1 Increasing industrial activities to drive demand 152
10.3.7 REST OF EUROPE 153
10.4 NORTH AMERICA 154
10.4.1 NORTH AMERICA: IMPACT OF RECESSION 154
10.4.2 US 158
- 10.4.2.1 Increasing consumption of industrial gases to drive market 158
10.4.3 CANADA 159
- 10.4.3.1 Expansion of oil & gas industry to fuel market growth 159
10.4.4 MEXICO 161
- 10.4.4.1 Rising demand from iron & steel industry to drive market 161
10.5 MIDDLE EAST 162
10.5.1 MIDDLE EAST: IMPACT OF RECESSION 162
10.5.2 UAE 165
- 10.5.2.1 Growing petrochemical infrastructure to fuel market 165
10.5.3 SAUDI ARABIA 167
- 10.5.3.1 Growing demand for industrial gases to drive market 167
10.5.4 QATAR 168
- 10.5.4.1 Demand from manufacturing and healthcare industries to boost market 168
10.5.5 KUWAIT 170
- 10.5.5.1 Use of air separation plants in refineries and petroleum companies to spur demand 170
10.5.6 OMAN 171
- 10.5.6.1 Demand from oil & gas and chemical industries to fuel market 171
10.5.7 REST OF MIDDLE EAST 172
10.6 SOUTH AMERICA 173
10.6.1 SOUTH AMERICA: IMPACT OF RECESSION 174
10.6.2 BRAZIL 176
- 10.6.2.1 Increasing industrialization to spur market growth 176
10.6.3 ARGENTINA 178
- 10.6.3.1 Growth of oil & gas industry to boost demand for nitrogen and oxygen 178
10.6.4 CHILE 179
- 10.6.4.1 Strong economic landscape to drive demand 179
10.6.5 REST OF SOUTH AMERICA 180
10.7 AFRICA 182
10.7.1 AFRICA: IMPACT OF RECESSION 182
10.7.2 SOUTH AFRICA 184
- 10.7.2.1 Large customer base to drive market 184
10.7.3 REST OF AFRICA 186
11 COMPETITIVE LANDSCAPE 188
11.1 OVERVIEW 188
11.2 KEY PLAYER STRATEGIES 189
11.3 REVENUE ANALYSIS 191
11.3.1 REVENUE ANALYSIS OF TOP PLAYERS IN AIR SEPARATION PLANT MARKET 191
11.4 MARKET SHARE ANALYSIS: AIR SEPARATION PLANT MARKET (2022) 192
11.5 COMPANY FOOTPRINT ANALYSIS 195
11.6 COMPANY EVALUATION QUADRANT, 2022 198
11.6.1 STARS 198
11.6.2 EMERGING LEADERS 198
11.6.3 PERVASIVE PLAYERS 198
11.6.4 PARTICIPANTS 198
11.7 SMALL AND MEDIUM-SIZED ENTERPRISES (SME) MATRIX, 2022 199
11.7.1 PROGRESSIVE COMPANIES 199
11.7.2 DYNAMIC COMPANIES 200
11.7.3 RESPONSIVE COMPANIES 200
11.7.4 STARTING BLOCKS 200
11.8 COMPETITIVE BENCHMARKING 202
11.9 COMPETITIVE SCENARIO 203
12 COMPANY PROFILES 210
12.1 KEY PLAYERS 210
12.1.1 LINDE PLC 210
12.1.2 AIR LIQUIDE SA 222
12.1.3 AIR PRODUCTS AND CHEMICALS, INC 230
12.1.4 MESSER GROUP GMBH 242
12.1.5 TAIYO NIPPON SANSO CORPORATION 249
12.1.6 DAESUNG INDUSTRIAL CO., LTD 255
12.1.7 AIR WATER INC 257
12.1.8 ENERFLEX LTD 260
12.1.9 YINGDE GASES GROUP CO., LTD 263
12.1.10 INOX AIR PRODUCTS PRIVATE LIMITED 267
12.1.11 HANGZHOU HANGYANG CO., LTD 270
12.2 SME PROFILES 272
12.2.1 SIAD MACCHINE IMPIANTI S.P.A 272
12.2.2 UNIVERSAL INDUSTRIAL GASES, INC 273
12.2.3 NIKKISO COSMODYNE, LLC 274
12.2.4 RANCH CRYOGENICS, INC 275
12.2.5 TECHNEX LIMITED 276
12.2.6 PHOENIX EQUIPMENT CORPORATION 277
12.2.7 AMCS CORPORATION 279
12.2.8 UNIVERSAL ING. L. & A. BOSCHI PLANTS PRIVATE LIMITED 281
12.2.9 CHINA NATIONAL AIR SEPARATION PLANT CORPORATION 282
12.2.10 GAS ENGINEERING, LLC 283
12.2.11 CRYOTEC ANLAGENBAU GMBH 284
12.2.12 NOVAIR SAS 285
12.2.13 BDMGASPLANTS 286
12.2.14 OXYPLANTS INDIA PVT LTD 287
13 APPENDIX 288
13.1 DISCUSSION GUIDE 288
13.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 291
13.3 CUSTOMIZATION OPTIONS 293
13.4 RELATED REPORTS 293
13.5 AUTHOR DETAILS 294