According to TechSci Research report, “Global Air Separation Unit Market - By Region, Competition, Forecast & Opportunities, 2028”, Global Air Separation Unit Market is anticipated to grow at a 4.05% CAGR in the forecast period, 2024-2028, Over the time, factors such as increasing demand for industrial gases, spurred by the growth in steel and process industries, are likely to drive the market growth during the forecast period.
Based on End User, Global Air Separation Unit Market is segmented into— Chemical Industry, Oil and Gas Industry, Iron and Steel Industry, and other end Users. The iron and steel industry are one of the major consumers of ASUs, as steel production requires massive amounts of oxygen, most of which is sourced from the air using ASU technology. It is estimated that more than half of the global steel production uses the basic oxygen process (BOP), which uses pure oxygen to convert a charge of liquid blast-furnace iron and scrap into steel.
Hence, most steel plants install large ASUs to cater to the oxygen demand, which forms a critical part of plant operations. The iron and steel industry are one of the drivers of modern industrial growth, and steel production has been growing steadily over the past decade. According to the World Steel Association, as of December 2022, China upholds the world leader in crude steel production, with 77.9 million metric tonnes produced, a 10% decrease from the previous year. India, Japan, the United States, and Russia trail far behind.
In March 2022, INOX Air Products Ltd announced that it had won a contract to construct India’s largest Greenfield Oxygen Plant in India at the Steel Authority of India’s (SAIL) Bokaro plant in Jharkhand. Being built at a total investment of INR 750 crore, the plant will generate 2150 tonnes per day (TPD) of Industrial Gases, including 2000 TPD of Gaseous Oxygen, 150 TPD of Liquid Oxygen, 1200 TPD of Gaseous Nitrogen & 100 TPD of argon.
Such large investments and projects for the construction of new ASUs in steel plants are expected to drive the iron and steel segment of the Global ASU market during the forecast period. Therefore, based on the abovementioned factors, the iron and steel end-user segment is expected to witness significant demand for the global air separation unit market during the forecast period.
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Based on Region, Asia Pacific region is expected to dominate the market for Air Separation Unit during the forecast period. Asia-Pacific accounted for the largest air separation unit market share and is expected to continue its dominance during the forecast period. China is the world’s second-largest oil consumer but the sixth-largest oil producer.
It imports nearly 50% of its hydrocarbon demand, and to reduce dependence on energy imports and improve energy security, China has been trying to maximise its shale potential by exploiting its domestic reserves across various inland shale basins, such as the Sichuan basin. The shale revolution in China has resulted in unprecedented petrochemical capacity creation and expansion.
As a result, China has made significant investments in its refining and petrochemical infrastructure to appease domestic demand and reduce the petrochemical process for domestic industries. Due to an ever-rising demand for plastics and other petrochemicals from sectors such as food packaging, clothing, cosmetics and fertilisers, refining capacity has to be increased to handle the growing demand.
In January 2022, Air Liquide announced an investment of about INR 350 crore (USD42.28 million) in a new air separation unit dedicated to industrial merchant activities in Kosi, Uttar Pradesh, India. This unit will have a production capacity of 350 tons per day with a maximum of 300 tons of oxygen. The plant is likely to be operational by the end of this year. As a result, the increasing uptake of ASUs from the iron and steel, oil and gas, and chemical end user segments, majorly from China and India, is expected to increase the demand for air separation units in the region.
Major companies operating in the Global Air Separation Unit market are:
- Linde AG
- Messer Group GmbH
- Siad Macchine Impianti Spa
- Shanghai Chinllenge Gases Co. Ltd
- Taiyo Nippon Sanso Corporation
- Air Liquide SA
- Air Products and Chemicals Inc.
- Universal Industrial Plants Mfg Co. Pvt Ltd
- Bhoruka Gases Limited
- Sichuan Air Separation Plant Group
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“The Global Air Separation Unit Market is expected to expand during the projected period. A significant driver in the global air separation unit (ASU) market is the ever-expanding industrial gas demand across various sectors. ASUs play a central role in providing essential industrial gases such as oxygen, nitrogen, and argon, which are critical for a wide range of industrial processes. Industries like healthcare rely on medical gases for respiratory therapies and medical applications, while manufacturing sectors depend on these gases for welding, heat treatment, and materials processing.
Additionally, the electronics and semiconductor industry require ultra-high purity gases, particularly nitrogen, for semiconductor fabrication. The energy, petrochemical, chemical, and pharmaceutical sectors also utilize industrial gases extensively.
Moreover, as emerging economies industrialize, the demand for industrial gases is on the rise. This expanding industrial base in regions like Asia-Pacific and Latin America is driving the need for ASUs to ensure a consistent and reliable supply of gases. In summary, the substantial growth in industrial gas requirements worldwide is a primary driver fueling the global ASU market.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
Air Separation Unit Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented by Process (Cryogenic Distillation and Non-cryogenic Distillation), Gas (Nitrogen, Oxygen, Argon, and other gases), End User (Chemical Industry, Oil and Gas Industry, Iron and Steel Industry, and other end Users), By Region, Competition”, has evaluated the future growth potential of global Air Separation Unit market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the global Air Separation Unit market.
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