Attributed to high demand for high purity oxygen from a range of end-use industries, currently, the global high purity oxygen market accounts for nearly one-third of the global industrial gas market. Most demand has been driven by the steel industry, in which, over three-fourth of the steel is produced using high purity oxygen. Apart from the steel industry, the chemical industry has experienced higher growth as compared to other end-use segments. Growing demand for high purity oxygen in the chemical industry to increase reaction rate and yield efficiency will amplify market growth during the forecast period.
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These aforementioned factors are projected to fuel the global high purity oxygen market at a CAGR of 6%, surpassing a market valuation of US$ 44.5 Bn by 2030-end.
Key Takeaways from High Purity Oxygen Market Study
- Industrial grade has remained the primary grade consumed by end-use industries, currently accounting for over three-fourth of global consumption.
- On the basis of supply, developed countries such as the United States, Germany, France, Belgium, the U.K., etc., are moving towards pipeline networks, which will drive this segment at a leading growth rate of 5% in the global high purity oxygen market.
- Metal production and fabrication have driven the consumption of high purity oxygen during the historical period.
- The medical & healthcare segment is set to create an absolute $ opportunity worth US$ 2 Bn by 2030.
- China, being the largest steel and chemical producer, has driven the consumption of high purity oxygen, and currently accounts for over one-third of global consumption.
“The uncertain COVID-19 outbreak has skyrocketed the demand for medical grade oxygen, and this segment is poised to generate over 4 to 5 times more demand in 2020 as compared to 2019,” says a Fact.MR analyst.
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High Purity Oxygen Market: Segmentation
Fact.MR has segmented the high purity oxygen market on the basis of grade, supply, end use, and region.
Grade
- Industrial Grade
- Medical Grade
- Electronic Grade
- Others
Supply
- Onsite & Pipeline
- Merchant & Bulk
- Packaged
End Use
- Metal Production & Fabrication
- Chemicals & Refinery
- Medical & Healthcare
- Electronics
- Glass & Ceramics
- Pulp & Paper
- Others
Region
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East & Africa
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The report covers following High Purity Oxygen Market insights and assessment that are helpful for all participants involved in the Intradermal Injections market:
- Data on recently introduced regulations and their impact on key industries and on demand in Intradermal Injections
- Latest industry Analysis on High Purity Oxygen Market with key analysis of market drivers, trends, and influencing factors
- Key trends Analysis of High Purity Oxygen Market and changing consumer preferences in major industries.
- Changing Intradermal Injections demand and consumption of diverse products
- Major trends underlining funding by key investors in numerous countries
- New investment opportunities in diverse technology and product or service types
- Comprehensive data and Competitive analysis of Intradermal Injections major players
- High Purity Oxygen Market sales in US will grow at a steady pace, driven by growing consumer confidence and economic recovery
- Intradermal Injections demand forecast in Europe remains stable, as many countries such as UK, France, and Germany focus on boosting growth
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