The global Air Separation Plant market is expected to register a CAGR of 4.7% in terms of volume during 2018 – 2028 with China, South East Asia & Pacific and North America accounting for significant market value shares by the end of the forecast period.
FMI delivers key insights on the global Air Separation Plant market in its report entitled ‘Air Separation Plant Market: Global Industry Analysis 2013 – 2017 and Opportunity Assessment 2018 – 2028’ The market value growth of the global Air Separation Plant market will remain attractive as market is expected to grow continuously at the at a CAGR of 4.9% in terms of value during the forecast period 2018 – 2028. In the report, average volume for Air Separation Plant has been expressed in Units i.e. price for the setting up of Air Separation plant is calculated on the basis of average cost incurred by the end user to install plant with production capacity by Unit addition of tons/day and also includes all the related accessories and equipment needed for commissioning of the project. On the basis of type, the Non-Cryogenic segment is expected to register attractive growth over the forecast period, while the Cryogenic segment is poised to dominate in terms of volume. Based on gas, the Nitrogen segment will gain market share penetration during the forecast period.
The annual revenue from Air Separation Plant globally is valued to be US$ 4,870.6 Mn by the end of 2018, which is further anticipated to grow at steady pace over the years. The dominating regions, i.e. North America, China, South East Asia & Pacific and Western Europe are collectively to account for majority share in the global Air Separation Plant market. These regions are likely to dominate the global market over the forecast period.
Global Air Separation Plant Market Dynamics
Rising demand of industrial gases from the major end-use industries such as chemicals, iron & steel, oil and gas, and energy has forced them to install the Air Separation Plant at their own sites to maintain cost effective and reliable supply. In terms of high growth regions, increasing urbanization and industrialization in the emerging economies of SEAP and Middle East along with China are anticipated to boom the demand of Air Separation Plants with growing demand from various other sectors food & beverages and healthcare. As technology continues to evolve, Air Separation Plant will continue to become more energy efficient. In addition, Air Separation Plants with advanced technologies focussing on minimising cost and technical risk through continuous analysis of operating data including pressure, flow and temperature will become inseparable features of the Air Separation Plant. On the other hand, the requirement of high capital cost for setting up new Air Separation Plant is expected to hinder the growth of the Air Separation Plant market. However, the demand of easy to install modular Air Separation Plant of small size are likely to gain market penetration in the coming years.
Global Air Separation Plant Market Forecast
On the basis of type, Future Market Insights suggests that the Non-Cryogenic segment will drive the overall market as Air Separation Plant installers will shift towards cost effective solutions. On the basis of gas, Oxygen Air Separation Plant will be dominating segment holding major share than Nitrogen and Argon Gases. Among End Use Industry, the Chemical segment will account for leading value share. In terms of volume, the Food & Beverages and Healthcare are also expected to play key role in overall growth of Air Separation Plant market over the forecast period.
The China Air Separation Plant market will lead the global Air Separation Plant market owing to increasing demand of industrial gases in the country. The Air Separation Plant market will continue to thrive in China due to presence of lucrative chemical and iron & steel industry in the region. The SEAP Air Separation Plant market will be very attractive market for the global players looking to create new revenue generation opportunities. The SEAP region is estimated to grow with above average CAGR respectively over the forecast period. MEA is also expected to hold a major revenue share in the global Air Separation Plant market over the forecast period.
Global Air Separation Plant Market Competitive Landscape
Examples of some of the market participants in the global Air Separation Plant market report include Linde AG, Air Products and Chemicals, Inc., Air Liquide SA, Praxair Inc., Messer Group GmbH, Universal Industrial Gases, Inc., Taiyo Nippon Sanso Corporation, Technex Limited, Sichuan Air Separation Plant Group, Ranch Cryogenics, Inc., AMCS Corporation, Yingde Gases Group Company Limited and others.
Summary: The Air Separation Plant market is expected to register a value CAGR of 4.9% during the forecast period
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