About Air Separation Plant
Air separation plants are designed to obtain gases such as oxygen, nitrogen, and argon through the process of compression, cooling, liquefaction, and distillation. The major end-users of such industrial gases are metal and glass manufacturing, chemicals, refining, oil and gas, healthcare, paper and pulp, electronics, aerospace, water and wastewater, food and beverage, etc. There are various gases present in the atmospheric air such as oxygen, nitrogen, carbon dioxide, hydrogen, helium, nitrogen, etc.
Technavio’s analysts forecast the global air separation plant market to grow at a CAGR of 3.54% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global air separation plant market for 2017-2021. To calculate the market size, the report considers the demand for air separation plants.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Air Separation Plant Market 2017-2021
Technavio recognizes the following companies as the key players in the global air separation plant market: Air Liquide, Air Products and Chemicals, Linde Group, and Praxair.
Other Prominent Vendors in the market are: AMCS Corporation, Enerflex, Ranch Cryogenics, TAIYO NIPPON SANSO CORPORATION, and UNIVERSAL BOSCHI.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Developments in emerging economies. Water and wastewater management, chemicals, pharmaceuticals, and food and beverage industries are growing in emerging economies. Despite the slowdown in China’s economic growth, it is the leading player in the chemicals industry. China is also the leading home for the Asian pharmaceuticals industry.”
According to the report, one of the major drivers for this market is Rise in demand from chemical sector in India. Increasing demand from process, manufacturing, and agricultural sectors has been one of the major factors for the significant growth of the petrochemical and chemical industry in India. Petrochemical and chemical plants include ethylene plants, methanol plants, and fertilizer production plants. Industrial gases play a key role during production process of chemical and petrochemical products.
Further, the report states that one of the major factors hindering the growth of this market is Slowdown in steel industry. The global steel industry is facing a downturn due to the decline in demand for steel. China is the major consumer and producer of steel in the world. However, the country witnessed an economic slowdown primarily due to production overcapacity and downturn in real estate. Owing to the production overcapacity in the steel sector, the government is transforming its investment-driven structure to consumption-driven structure. This will lead to reduced consumption of steel in the country owing to reduced investments in infrastructure and construction. Apart from lower steel consumption, the country started dumping unwanted steel to other markets at a lower price.
Air Liquide, Air Products and Chemicals, Linde Group, Praxair, AMCS Corporation, Enerflex, Ranch Cryogenics, TAIYO NIPPON SANSO CORPORATION, and UNIVERSAL BOSCHI.