The Asia-Pacific air separation unit market size is anticipated to register a significant CAGR of more than 4.74% during the forecast period, 2021–2028. Growth of the market is attributed to the increasing infrastructure development activities, notably in China and India.
An air separation unit separates atmospheric air into its major components, which are usually nitrogen and oxygen, with argon and other uncommon inert gases. Fractional distillation is the most frequent method of air separation. Cryogenic air separation units (ASUs) are designed to give nitrogen or oxygen while also producing argon in the process. Air separation is the most premium way to make rare noble gases like neon, krypton, and xenon.
The Covid-19 pandemic affected the demand and supply of Asia-Pacific air separation unit market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.
The report on the Asia-Pacific air separation unit market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes |
Details |
Report Title |
Asia-Pacific Air Separation Unit Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year |
2020 |
Historic Data |
2018–2019 |
Forecast Period |
2021–2028 |
Segmentation |
By Process (Cryogenic Distillation and Non-cryogenic Distillation), Gas (Nitrogen, Oxygen, Argon, and Others), End User (Oil and Gas Industry, Steel Industry, Chemical Industry, Food and Beverage Industry, Healthcare Industry, and Others), and Geography (Japan, China, India, and Rest of Asia-Pacific) |
Geographical Scope |
Japan, China, India, and Rest of Asia-Pacific |
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
Key Players Covered in the Report |
Messer Group GmbH, Air Liquide, Linde PLC, Praxair Technology, Inc., and Air Products & Chemicals, Inc. |
On the basis of process, the Asia-Pacific air separation unit market is divided into cryogenic distillation and non-cryogenic distillation. The cryogenic distillation process is expected to represent a key share of the market during the forecast period due to its ability to create high-purity oxygen gas at a rapid pace. Cryogenic process was first commercialized in 1902, and it has since been widely used by enterprises in a variety of sectors that require gases like nitrogen and oxygen. As the oldest air separation method, it has progressed significantly over time, resulting in increased efficiency and excellent purity of yield gases.
Based on end-user, the Asia-Pacific air separation unit market is segregated into oil and gas industry, steel industry, chemical industry, food and beverage industry, healthcare industry, and other end users. The chemical industry segment is expected to represent a key share of the market during the forecast period. It relies on industrial gases such as oxygen and nitrogen. They are employed for a variety of purposes, including facilitating reactions, increasing efficiency, and reducing the risk of explosions.
Fertilizers require nitrogen to function properly. It is used to increase the fertility of the soil. It's also found in other fertilizers like ammonia and urea, where it helps to boost plant growth and output. The Asia-Pacific region is a prominent chemical producer. The region's commoditized chemical output accounts for the majority of overall chemical output. As a result of shift in the chemical manufacturing business, the Asia-Pacific region is projected to witness significant investments in new plant building. As a result, demand for air separation units in the chemical industry is projected to increase.
In terms of gas the Asia-Pacific air separation unit market is divided into nitrogen, oxygen, argon, and other gases. The nitrogen gas segment is anticipated to grow at rapid pace during the forecast period. Nitrogen blanketing is a technique for protecting flammable or explosive substances and liquids from air contact. Certain chemicals, solid surfaces, and stored food products have qualities that must be protected against atmospheric oxygen and moisture breakdown. This is accomplished by storing these materials in a nitrogen-rich environment.
On the basis of geography, the market is classified as Japan, China, India, and Rest of Asia-Pacific. China is anticipated to dominate the market during the forecast period. In 2019, China had more than 50% of the market share, and this trend is anticipated to continue during the forecast period. Large-scale gasification facilities, gas-to-liquids, coal-to-liquids, and coal-to-chemicals facilities, which need massive amounts of oxygen, are anticipated to meet the country's expanding need for alternative energy sources. Furthermore, China intends to raise the amount of nitrogen used in oil recovery activities, which is projected to raise demand for industrial gases. China's growing need for industrial gases such as nitrogen and oxygen is expected to drive the market during the forecast period. According to a 2019 world steel organization study, China produces the most of the crude steel, accounting for 51.3 percent of worldwide crude steel output of 1,808 million metric tons. Other Asia-Pacific countries, such as India and Japan, each have 5.9% and 5.8% of the total share.
The Asia-Pacific air separation unit market has been segmented on the basis of
Process
Gas
End User
Geography
Key Players
Key players competing in the Asia-Pacific air separation unit market include Messer Group GmbH, Air Liquide, Linde PLC, Praxair Technology, Inc., and Air Products & Chemicals, Inc.
Some of these players are using several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares.
The Asia-Pacific air separation unit market has been segmented on the basis of
Process
Gas
End User
Geography
Key Players
Key players competing in the Asia-Pacific air separation unit market include Messer Group GmbH, Air Liquide, Linde PLC, Praxair Technology, Inc., and Air Products & Chemicals, Inc.
Some of these players are using several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares.
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