Owing to the increased adoption of air separation plants in chemical, healthcare and food industry, revenue is set to steer up tremendously through 2029.
DUBAI, UAE / ACCESSWIRE / October 12, 2020 / The air separation plant market expected to surpass US$ 4870.6 million by 2029 as a part of which China and India is expected to witness a positive graph for the demand and production of air separation plants market. Due to increasing demand in major industries, manufacturers are working on developing on-site customized plant systems to gain a steady growth.
“Among the others, though chemical industry will hold maximum share, it will not outsell other major industries. It will surely dominate the market and will hold a considerable share but customized side of it will help the profit rise tremendously. Manufacturers are also focussing on better utilization of resources, raw materials and decreasing labour cost to enhance revenue generation.” states the FMI Analyst.
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Air Separation Plant Market – Key Highlights
- Application wise, chemical sector will attract maximum attention by covering major part of market share.
- On the basis of region, China, India and SEAP region will experience steer growth in demand for air separation plants.
- Cryogenic air separation plant will witness vast incremental opportunities through the forecast period.
- Due to rising demand of it in the oil and gas, healthcare and chemical sector, India might witness a steady growth and present lucrative opportunities soon.
Air Separation Plant Market – Driving Factors
- Advanced use of air separation plants in food, beverage, healthcare, oil & gas, chemical will steer the growth in near future.
- Demand is getting better due to eco-friendly technology and improved efficiency.
- Owing to growing use of industrial gases and need for reliable and cheap gas supply, demand for air separation plant is rising.
- Demand is also rising because chemical sector is presenting ample opportunities for investment.
Air Separation Plant Market – Key Restraints
- Complicated off-site design is likely to decline the market growth.
- Failure to fulfil all customization needs is posing major threat to this industry.
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Expected Impact on Market by Coronavirus Outbreak
Social distancing measures and lockdown has caused minimal contact thereby closing up the industries and reducing profits. Work from home facilities might have increased efficiency among the individuals but the work pressure has increased lately. The manufacturers in China and India are planning to launch new technologies and on-site customized plants as required by the clients. By end-use, chemical segment will present lucrative opportunities in the upcoming year as well.
Key players of the market are planning on launching ground-breaking process to widen the product margin. Product innovations and developing strong relationships with manufacturers are two important strategies. These strategies focus on driving the market revenue. Key players include Linde AG, Air Products and Chemicals, Inc., Air Liquide SA, Praxair Inc., Messer Group GmbH, Universal Industrial Gases, Inc., Taiyo Nippon Sanso Corporation, Technex Limited, Sichuan Air Separation Plant Group.
Design offered by the companies and manufacturers will move towards on-site plant delivery formats and proper demanded customization.
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More on the Report
The report analyses market on basis of segmentation by end use (food and beverage, oil and gas, healthcare, chemical), product type (cryogenic, non-cryogenic, membrane separation etc.), on the basis of gas (carbon, nitrogen and argon) on region (North America, Latin America, Europe, Asia).
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