Air Separation Plant Market is Expected to Expand at a CAGR of 4.9% by 2028 - Future Market Insights

VALLEY COTTAGE, New York, August 20, 2018 /PRNewswire/ --

Registering a steady CAGR of 4.9%, the global market for air separation plant will reach a valuation of US$ 7,891.1 Mn by 2028, with China holding majority of the global market share in the coming decade. Tremendous urbanization and industrialization is expected to generate demand for air separation plant in the SEA and Pacific region. As per a recent analysis by Future Market Insights, the demand for air separation plants in the global market is expected to be relatively strong over the forecast period of 2018-2028. Growth landscape of the air separation plant market will be positively impacted by the strong recovery underway in the emerging markets of developing world especially South East Asia & Pacific (SEAP). Cryogenic air separation plants are likely to dominate the market, with a total value share of 34.5% through 2018.

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An Overview of the Global Air Separation Plant Market 

A large share of the market revenue is likely to be generated by the chemical, iron and steel, healthcare, and food and beverages industries. Air separation plants are used for separating atmospheric air into industrial gases-including nitrogen, oxygen, argon, and other inert gases. Increasing demand for such industrial gases will create opportunities for the air separation plant market to grow in the coming years.

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Growing emphasis on gas packaging, rapid refrigeration, and freezing technologies in the food and beverages industry is fuelling the demand for liquid nitrogen freezing. Several air separation plant manufacturers are specifically launching units for gas-related products in the food industry. Additionally, demand for medical gases and equipment like infusion pumps and continuous positive airway pressure (CPAP) devices in hospitals and private homes, will ramp up the investments in air separation plants market in the coming years.