Air separation Plant Market Trends and Innovations: An Assessment of Emerging Technologies and Applications

 


Industry Analysis

Air separation plant market is expected to witness market growth at a rate of approximately 4.5% in the forecast period of 2021 to 2028 and is expected to reach USD 7,342.40 million by 2028. Data Bridge Market Research report on air separation plant market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The increasing demand from the end user industries is escalating the growth of air separation plant market.


Market Insights and Scope

Air separation plant assists in the separation of atmospheric air into nitrogen and oxygen as the name suggests. This also deals with other gases such as argon and other gases. These plants possess numerous applications various industries such as iron and steel, oil and gas, chemical and healthcare among others.

The rise in the up taking of alternate energy sources such as coal-to-liquid and coal-to-chemicals plants, large-scale gasification plants and oxygen-based gas-to-liquid acts as one of the major factors driving the growth of air separation plant market. The growth in steel and process industries leading the rise in demand for industrial gases and the important role of these plants in the production of iron and steel accelerate the air separation plant market growth. The implementation of stringent safety and environmental regulations and growing industrial development activities in MEA further influence the air separation plant market. Additionally, growth in population, rising research and development activities, growing demand from healthcare sector, expansion of end user industries and rising growing demand from healthcare sector positively affect the air separation plant market. Furthermore, high demand from chemical industry and rise in demand in developing economies extends profitable opportunities to the air separation plant market players in the forecast period of 2021 to 2028.   


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