Industrial Oxygen Market Size
[174+ Pages Research Report] Industrial Oxygen Market to surpass USD 19.93 billion by 2030 from USD 9.99 billion in 2020 at a CAGR of 7.15% within the coming years, i.e., 2020-30.
Product overview
Industrial oxygen is produced by air separation processes. The use of the oxygen wand is primarily based on its oxidizing and life-sustaining properties. Industrial gases are used in different degrees of purity and for a wide variety of purposes, including food gases and medical gases. They can make production processes safer and more profitable and improve product quality. They often help to protect the environment. Some processes and applications would be inconceivable without the chemical properties of gases. Oxygen is one of the most common gases. Among the various applications, the majority of industrial oxygen consumption is in the steel industry, which is 47.56%.
Market Highlights
The Industrial Oxygen Market is predicted to project a notable CAGR of 7.15% in 2030.
Increasing oxygen applications such as refined products, petrochemicals, agrochemicals, polymers, pigments, oleochemicals, and liquid waste are also likely to drive Industrial Oxygen Market. The unmet demand for mechanical ventilators is forcing biomedical scientists and engineers to develop makeshift of Improvised ventilators using ventilators such as PAPs, manual ventilators, nebulizers, oxygen concentrators, and others, which has been a key factor in the growth of the medical oxygen market recently.
Recent News and Developments:
April 2019 Eaton introduced new technologies for China's growing electric vehicle market. More than 60% of the world's electric vehicles are sold in China, and sales in the region are expected to increase as automakers strive to reduce emissions to meet requirements from China's Ministry of Industry and Information.In April 2021, the French industrial gas giant Air Liquide S.A. announced that it supplies most of its liquid oxygen production to the healthcare sector and plans to import supplies from the Asia-Pacific region
Industrial Oxygen Market: Segments
Oxygen segment to grow with the highest CAGR during 2020-2030
The Industrial Oxygen Market is segmented By Product into Oxygen, Refrigerated Liquid, Nitrogen. The Oxygen segment had the highest share of sales in 2020. Its high thermal efficiency-enhancing properties are increasing the Industrial Oxygen Market demand for industrial oxygen. It is used efficiently in the treatment of polluted water and hazardous waste, as well as in the coal gasification process, which therefore helps the application of oxygen in various industries will increase industrial oxygen demand on a large scale in the coming years.
Textile segment to grow with the highest CAGR during 2020-2030
The Industrial Oxygen Market is segmented By the End-User Industry into Chemical, Metal, Cement, Glass, Pharmaceutical, Water Treatment, Others. Increased production of textile products and increasing demand for industrial oxygen can contribute to healthy growth in the Industrial Oxygen Market. Increased uses for pad printing Screen printing and digital printing can drive growth in the ink segment. The use of digital inks in sports and leisure, packaging, and Textile industry can also drive the segment's growth in the Industrial Oxygen Market.
Market Dynamics
Drivers
Expansion of end-use sectors
The expansion of end-use sectors such as healthcare, chemistry, metalworking and welding, and construction and metallurgy, including the iron and steel industry, is expected to boost Industrial Oxygen Market in the coming years. The aerospace and construction sectors are expected to see a jump in the forecast period.
Increasing use of industrial oxygen in the Food and Beverage industry
Industrial gases have long been an integral part of the food and beverage industry. Nitrogen, carbon dioxide, and oxygen are examples of industrial gases in the food and beverage industry. The beverage industry is also used as an additive in food to improve the taste and texture of food. This diverse set of industrial gas applications in the ever-expanding food and beverage industry is expected to fuel the global Industrial Oxygen Market over the forecast period.
Restraint
Growing Environmental Concerns
Industrial oxygen production uses great amount of electricity and requires large and sophisticated equipment to separate, purify, and store these gases, which represent a threat to the steady growth of the Industrial Oxygen Market.
Impact of the COVID-19 on the Industrial Oxygen Market
The growing number of COVID19 patients has increased the demand for oxygen in 2020 and 2021 Demand is expected to increase in the first and second waves of the pandemic The third wave outbreak in certain regions has also boosted health care demand, adding to the negative outlook compensates for oxygen needs in other industries. Given that COVID19 is related to the respiratory syndrome, a significant increase in consumption was observed during the crisis. The negative outlook for the construction sector has also led to a decline in sales of industrial oxygen in the steel welding industry.
Industrial Oxygen Market: Key Players
Linde Group
Air Liquide
Praxair
Air Products and Chemicals
Taiyo Nippon Sanso
Air Water
Messer
Yingde Gases
SOL
Norco
Industrial Oxygen Market: Regions
Industrial Oxygen Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East, and Africa. The Asia-Pacific region dominated the global Industrial Oxygen Market in 2020 and had the largest market share. The growth of consumer industries in growing economies such as India, China, South Korea, and other Asian countries supported the development of the Industrial Oxygen Market in the Asia-Pacific region. According to the Food and Agriculture Organization of the United Nations, China is the world's largest nitrogen producer with an annual consumption of 44.97 million tons; With an annual consumption of 16.48 million tons, India ranks second. used to make fertilizers. In addition to the above factors, the growth of the pharmaceutical and medical sectors in the Asia-Pacific region has resulted in the region's broad market share in the global Industrial Oxygen Market.
Industrial Oxygen Market is further segmented by region into:
North America Market Size, Share Trends, Opportunities, Y-o-Y Growth, CAGR-United States and Canada
Latin America Market Size, Share Trends, Opportunities, Y-o-Y Growth, CAGR-Mexico, Argentina, Brazil, and Rest of Latin America
Europe market Size, Share Trends, Opportunities, Y-o-Y Growth, CAGR- United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
Asia Pacific Market Size, Share Trends, Opportunities, Y-o-Y Growth, CAGR-India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
Middle East and Africa Market Size, Share Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA
Industrial Oxygen Market report also contains analysis on:
Industrial Oxygen Market Segments:
By Product
By Application
Combustion
Oxidation
Ferment
By End-Use Industries
Chemical
Metal
Cement
Glass
Pharmaceutical
Water Treatment
Others
Industrial Oxygen Market Dynamics
Industrial Oxygen Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies Involved in the Market
Value chain of the Market
Market Drivers and Restraints
Industrial Oxygen Market Report Scope and Segmentation
Report Attribute Details
Market size value in 2020 USD 9.99 billion
Revenue forecast in 2030 USD 19.93 billion
Growth Rate CAGR of 7.15% from 2021 to 2030
Base year for estimation 2020
Quantitative units Revenue in USD million and CAGR from 2021 to 2030
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered Basis, Product, Application, End-Use Industries, and Region
Region scope North America; Europe; Asia Pacific; Latin America; Middle East & Africa (MEA)
Key companies profiled Linde Group, Air Liquide, Praxair, Air Products and Chemicals, Taiyo Nippon Sanso, Air Water, Messer, Yingde Gases, SOL, Norco
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