Aug 28, 2017 SOURCE: BusinessWire

Air Separation Plant Market - Trends and Forecasts by Technavio

According to the latest market study released by Technavio, the global air separation plant market is expected to grow at a CAGR of almost 4% during the forecast period.

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Technavio has published a new report on the global air separation plant market from 2017-2021. (Graphic: Business Wire)

This research report titled ‘Global Air Separation Plant Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.

The global air separation plant market is mainly driven by the rise in demand from end-user industries such as metallurgy, oil and gas, chemicals, healthcare, and others. These sectors require industrial gases during manufacturing and production process. Industrial gases of the highest level of purity are achieved through air separation plants.

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Technavio’s analysts categorize the global air separation plant market into five major segments by end users. They are:

Metallurgy
Oil and gas
Chemicals
Healthcare
Others

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The top three segments based on end-user for the global air separation plant market are discussed below:

Global air separation plant market by metallurgy segment

The growth in metallurgy industries such as steel and iron manufacturing, metal fabrication, metal processing, and non-ferrous metal production will drive the demand for industrial gases, thereby driving the demand for air separation plants, globally. Gas-based technologies and various gases help in lowering operation costs and improving productivity.

According to Anju Ajaykumar, a lead unit operations research analyst from Technavio, “The increase in demand from construction and energy sectors is expected to boost the metal industry in the US during the forecast period. In 2016, steel prices rose significantly, which prompted steel manufacturers to increase the level of steel production. Strong non-residential activities will improve the construction sector in the US, which will drive the demand for steel. This is expected to propel the growth of the air separation plant market in the metallurgy industry.”

Global air separation plant market by oil and gas segment

Industrial gases, particularly oxygen and nitrogen, find large applications in oil and gas production. These gases are used during oil or natural gas recovery, oilfield services, oil sand production, pipeline services, and offshore oil and gas production. Nitrogen injection is done for enhancing oil and natural gas recovery while oxygen is used in gasification.

“The expansion of downstream and midstream activities during the forecast period will drive the growth of the oil and gas industry. For instance, Fadhili gas processing plant by Saudi Aramco in Saudi Arabia is expected to commence its operations by 2019. This project was awarded to four companies for developing and constructing gas processing plants to meet the growing demand for power,” says Anju.

Global air separation plant market by chemicals segment

The chemicals industry utilizes industrial gases such as hydrogen, nitrogen, oxygen, syngas, and carbon monoxide as feedstocks in the production of many basic chemicals. Oxygen, hydrogen, and carbon monoxide also act as reaction agents that are mandatory in various process steps of the chemical production chain.

Petrochemicals are obtained from refining and processing of natural gas and petroleum as they require inert gases for storage and transportation. Many principle active ingredients that are used in pharmaceuticals or chemicals are sensitive to humidity or oxygen.

The top vendors highlighted by Technavio’s research analysts in this report are:

Air Liquide
Air Products and Chemicals
Linde Group
Praxair

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