According to the report by TechSci Research, the Global Air Separation Unit Market is expected to witness a growth rate of 4.05% CAGR during the forecast period from 2024 to 2028. The increasing demand for industrial gases, particularly driven by growth in steel and process industries, is a major factor contributing to the anticipated market growth.

Segmentation

The Global Air Separation Unit Market is categorized based on end-users into the Chemical Industry, Oil and Gas Industry, Iron and Steel Industry, and other end users. The iron and steel industry, being a significant consumer of Air Separation Units (ASUs), especially for steel production requiring substantial oxygen, is expected to fuel the market's growth. Notably, more than half of global steel production relies on the basic oxygen process (BOP), utilizing pure oxygen for steel conversion. Large ASUs are installed in most steel plants to meet the critical oxygen demand, a vital aspect of plant operations. Despite fluctuations, the iron and steel industry has been a driver of industrial growth globally, with China leading in crude steel production.

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Report Scope:

In this report, the Global Air Separation Unit Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • Air Separation Unit Market, By Process:

o   Cryogenic Distillation

o   Non-cryogenic Distillation 

  • Air Separation Unit Market, By Gas:

o   Nitrogen

o   Oxygen

o   Argon

o   Other Gases 

  • Air Separation Unit Market, By End User:

o   Chemical Industry

o   Oil and Gas Industry

o   Iron and Steel Industry

o   Other End Users 

  • Air Separation Unit Market, By Region:

    • North America

      • United States

      • Canada

      • Mexico

    • Asia-Pacific

      • China

      • India

      • Japan

      • South Korea

      • Indonesia

    • Europe

      • Germany

      • United Kingdom

      • France

      • Russia

      • Spain

    • South America

      • Brazil

      • Argentina

    • Middle East & Africa

      • Saudi Arabia

      • South Africa

      • Egypt

      • UAE

      • Israel

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Air Separation Unit Market.

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Recent Developments

In March 2022, INOX Air Products Ltd secured a contract for constructing India's largest Greenfield Oxygen Plant at the Steel Authority of India’s (SAIL) Bokaro plant in Jharkhand. This substantial investment is expected to drive the iron and steel segment of the Global ASU market.

Regional Dominance

The Asia Pacific region is anticipated to dominate the Air Separation Unit market during the forecast period. China, as the world's second-largest oil consumer and sixth-largest oil producer, has been maximizing its shale potential to reduce energy imports and enhance energy security. The shale revolution in China has led to significant investments in refining and petrochemical infrastructure, meeting the rising demand for plastics and petrochemicals in various sectors. In January 2022, Air Liquide announced a substantial investment in a new air separation unit in Uttar Pradesh, India, highlighting the region's growing demand for ASUs.

Key Players

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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Industry Insight

Mr. Karan Chechi, Research Director with TechSci Research, emphasized the pivotal role of ASUs in providing essential industrial gases for various applications across sectors. The report highlights the substantial growth in global industrial gas requirements, driven by emerging economies' industrialization, particularly in Asia-Pacific and Latin America.

The report, titled "Air Separation Unit Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028," aims to provide comprehensive market intelligence, assisting decision-makers in making informed investment decisions. It identifies and analyzes emerging trends, essential drivers, challenges, and opportunities in the global Air Separation Unit market.

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About Techsci Research

TechSci Research is a research-based management consulting firm providing market research and advisory solutions to its customers worldwide, spanning a range of industries. TechSci Research's core values are value, integrity, and insight. Led by a team of dynamic industry experts, TechSci Research provides its customers with high-value market research and advisory services that help them identify new market opportunities, growth engines, and innovative ways to capture the market share. As a result, TechSci's client leads rather than follow market trends.

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