Report Code : CVMI2412240 | Published Date : March 3, 2025

The Global Air Separation Plant Market was valued at USD 5.45 billion in 2023 and is projected to reach USD 8.91 billion by 2031, growing at a CAGR of 7.12%. Air separation plants (ASPs) are critical for producing industrial gases like oxygen, nitrogen, and argon, which are essential in sectors such as healthcare, metal fabrication, and electronics. The market is driven by rising demand for medical oxygen, green energy initiatives, and advancements in cryogenic technologies technology.

Key Market Drivers

  1. Healthcare Sector Expansion
    • The global medical oxygen market (a key ASP output) is growing at 8.2% CAGR, fueled by aging populations and respiratory diseases.
    • COVID-19 aftermath: Hospitals now maintain 30% higher oxygen reserves than pre-pandemic levels (WHO, 2024).
  2. Industrial Gas Demand
    • Steel and metal manufacturing consume 45% of nitrogen produced by ASPs.
    • Semiconductor industry growth (e.g., TSMC’s 3nm chips) requires ultra-high-purity gases, driving 20% annual ASP demand in Asia.
  3. Energy Transition and Sustainability
    • Blue hydrogen projects (e.g., Saudi Arabia’s NEOM) use ASPs to produce low-carbon nitrogen for ammonia synthesis.
    • Carbon capture initiatives rely on ASPs to separate CO₂ from flue gases (e.g., ExxonMobil’s 2024 Louisiana project).
  4. Technological Advancements
    • Modular ASPs: Small-scale, portable units (e.g., Linde’s N2GO) reduce costs for remote industries.
    • AI optimization: Predictive maintenance cuts downtime by 25% (Air Liquide, 2023).

 

Market Segmentation

By Process

  • Cryogenic Distillation (70% share): Dominates due to high purity (99.999%) for healthcare and aerospace.
  • Pressure Swing Adsorption (25%): Preferred for small-scale nitrogen generation (e.g., food packaging).

 

By End-Use Industry

  • Healthcare (30%): Oxygen for hospitals and home care.
  • Metals & Manufacturing (XX%): Nitrogen for welding and steelmaking.
  • Chemicals & Energy (XX%): Argon for solar panel production.

 

By Region

  • Asia-Pacific (40% share): China and India lead due to steel production and electronics manufacturing.
  • North America (XX%): Shale gas boom drives demand for nitrogen in fracking.
  • Europe (XX%): Green hydrogen projects fuel ASP investments.

 

Competitive Landscape

The market is oligopolistic, with the top 3 players controlling 60% share:

  1. Linde plc – Leader in cryogenic tech; won USD 1.2B contract for NEOM’s hydrogen plant (2024).
  2. Air Liquide – Investing USD 500M in modular ASPs for Africa.
  3. Air Products – Partnered with Intel to supply ultra-pure gases for semiconductor fabs.

 

Recent Developments

  • 2024: Siemens Energy launched AI-driven ASPs with 30% lower energy consumption.
  • 2023: India’s INOX Air commissioned the world’s largest oxygen plant (2,000 tons/day).




Reasons To Buy

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Scope

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Key Players

  • Air Separation Plant Market – Linde plc
  • Air Liquide S.A.
  • Praxair Technology Inc.
  • Messer Group GmbH
  • Taiyo Nippon Sanso Corporation
  • Air Products and Chemicals Inc.
  • Universal Industrial Gases Inc.
  • Hangzhou Hangyang Co. Ltd.
  • Yingde Gases Group
  • Sichuan Air Separation Plant Group.

 

Global Air Separation Plant Market Report

  1. 1. Global Air Separation Plant Market Research Report
    1. 1.1 Study Objectives
    2. 1.2 Global Air Separation Plant Market - Overview
    3. 1.3 Reason to Read This Report
    4. 1.4 Methodology and Forecast Analysis
    2. Global Air Separation Plant Market Research Report - Preface
    1. 2.1 Global Air Separation Plant Market Research Report – Detailed Scope and Definitions
      1. 2.1.1 By Product Type
      2. 2.1.2 By End-user
      3. 2.1.3 By Region
    3. Global Air Separation Plant Market Dynamics
    1. 3.1. Drivers - Macro-Economic Based, Supply Side, and Demand Side Drivers
    2. 3.2. Restraints – By Product Type, By End-user, By Country
    3. 3.3. Opportunities – By Product Type, By End-user, By Country
    4. 3.4. Trends – By Product Type, By End-user, By Country
    5. 3.5. PEST Analysis
    6. 3.6. Porters Five Rule Analysis
    7. 3.7. Company’s Share Analysis (CSA) by Region or By Country
    8. 3.8. Global Air Separation Plant Market Research Report – DROTs Impact Analysis
    4. Global Air Separation Plant Market Research Report, Historic Data 2019 - 2023 and Forecast Analysis Data 2024 - 2031
    1. 4.1. Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
    2. 4.2. Annual Market Trend Assessment – Year-on-Year (YoY) Growth Analysis (%)
    3. 4.3. Incremental Market Value/Volume Opportunity between 2019 - 2023 and 2024 - 2031
    4. 4.4. Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
    5. Global Air Separation Plant Market, By Product Type, 2019 - 2023 and Forecast, 2024 - 2031 (Market Value, In USD Mn)
    1. 5.1 Nitrogen
      1. 5.1.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
      2. 5.1.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
      3. 5.1.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
      4. 5.1.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
    2. 5.2 Oxygen
      1. 5.2.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
      2. 5.2.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
      3. 5.2.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
      4. 5.2.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
    3. 5.3 Argon
      1. 5.3.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
      2. 5.3.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
      3. 5.3.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
      4. 5.3.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
    4. 5.4 Others
      1. 5.4.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
      2. 5.4.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
      3. 5.4.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
      4. 5.4.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
    6. Global Air Separation Plant Market, By End-user, 2019 - 2023 and Forecast, 2024 - 2031 (Market Value, In USD Mn)
    1. 6.1 Chemical
      1. 6.1.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
      2. 6.1.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
      3. 6.1.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
      4. 6.1.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
    2. 6.2 Medical
      1. 6.2.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
      2. 6.2.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
      3. 6.2.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
      4. 6.2.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
    3. 6.3 Food & Beverage
      1. 6.3.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
      2. 6.3.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
      3. 6.3.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
      4. 6.3.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
    4. 6.4 Metallurgical
      1. 6.4.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
      2. 6.4.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
      3. 6.4.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
      4. 6.4.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
    5. 6.5 Energy.
      1. 6.5.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
      2. 6.5.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
      3. 6.5.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
      4. 6.5.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
    7. Global Air Separation Plant Market Forecast, By Region, 2019 - 2023 and 2024 - 2031 (Market Value, In USD Mn)
    1. 7.1 North America
      1. 7.1.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
      2. 7.1.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
      3. 7.1.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
      4. 7.1.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
    2. 7.2 Europe
      1. 7.2.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
      2. 7.2.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
      3. 7.2.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
      4. 7.2.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
    3. 7.3 Asia-Pacific
      1. 7.3.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
      2. 7.3.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
      3. 7.3.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
      4. 7.3.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
    4. 7.4 Latin America
      1. 7.4.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
      2. 7.4.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
      3. 7.4.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
      4. 7.4.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
    5. 7.5 Middle East & Africa
      1. 7.5.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
      2. 7.5.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
      3. 7.5.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
      4. 7.5.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
    6. 7.6 Global Air Separation Plant Market - Opportunity Analysis Index, By Product Type, By End-user, and Region, 2024 - 2031
    8. North America Global Air Separation Plant Market Analysis, 2019 - 2023 and Forecast, 2024 - 2031 (Market Value, In USD Mn)
    1. 8.1 By Product Type Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
      1. 8.1.1 Nitrogen
      2. 8.1.2 Oxygen
      3. 8.1.3 Argon
      4. 8.1.4 Others
      8.2 By End-user Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
      1. 8.2.1 Chemical
      2. 8.2.2 Medical
      3. 8.2.3 Food & Beverage
      4. 8.2.4 Metallurgical
      5. 8.2.5 Energy.
      8.3 Country Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
      1. 8.3.1 United States
      2. 8.3.2 Canada
      8.4 North America Global Air Separation Plant Market – Opportunity Analysis Index, By Product Type, By End-user, and Country, 2024 - 2031
      8.5 Regional Trends Analysis
      8.6 North America Global Air Separation Plant Market Research Report - Company Profiles
      1. 8.6.1 Company 1 (United States)
      2. 8.6.2 Company 2 (Canada)
      3. 8.6.3 Company 3 (Canada)
    9. Europe Global Air Separation Plant Market Analysis, 2019 - 2023 and Forecast, 2024 - 2031 (Market Value, In USD Mn)
    1. 9.1 By Product Type Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
      1. 9.1.1 Nitrogen
      2. 9.1.2 Oxygen
      3. 9.1.3 Argon
      4. 9.1.4 Others
      9.2 By End-user Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
      1. 9.2.1 Chemical
      2. 9.2.2 Medical
      3. 9.2.3 Food & Beverage
      4. 9.2.4 Metallurgical
      5. 9.2.5 Energy.
      9.3 Country Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
      1. 9.3.1 Germany
      2. 9.3.2 United Kingdom
      3. 9.3.3 France
      4. 9.3.4 Spain
      5. 9.3.5 Italy
      6. 9.3.6 Russia
      7. 9.3.7 Netherlands
      8. 9.3.8 Poland
      9. 9.3.9 Rest of Europe
      9.4 Europe Global Air Separation Plant Market – Opportunity Analysis Index, By Product Type, By End-user, and Country, 2024 - 2031
      9.5 Regional Trends Analysis
      9.6 Europe Global Air Separation Plant Market Research Report - Company Profiles
      1. 9.6.1 Company 1 (Germany)
      2. 9.6.2 Company 2 (United Kingdom)
      3. 9.6.3 Company 3 (United Kingdom)
    10. Asia-Pacific Global Air Separation Plant Market Analysis, 2019 - 2023 and Forecast, 2024 - 2031 (Market Value, In USD Mn)
    1. 10.1 By Product Type Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
      1. 10.1.1 Nitrogen
      2. 10.1.2 Oxygen
      3. 10.1.3 Argon
      4. 10.1.4 Others
      10.2 By End-user Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
      1. 10.2.1 Chemical
      2. 10.2.2 Medical
      3. 10.2.3 Food & Beverage
      4. 10.2.4 Metallurgical
      5. 10.2.5 Energy.
      10.3 Country Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
      1. 10.3.1 China
      2. 10.3.2 Japan
      3. 10.3.3 India
      4. 10.3.4 South Korea
      5. 10.3.5 Australia & NZ
      6. 10.3.6 ASEAN
      7. 10.3.7 Rest of Asia-Pacific
      10.4 Asia-Pacific Global Air Separation Plant Market – Opportunity Analysis Index, By Product Type, By End-user, and Country, 2024 - 2031
      10.5 Regional Trends Analysis
      10.6 Asia-Pacific Global Air Separation Plant Market Research Report - Company Profiles
      1. 10.6.1 Company 1 (China)
      2. 10.6.2 Company 2 (Japan)
      3. 10.6.3 Company 3 (Japan)
    11. Latin America Global Air Separation Plant Market Analysis, 2019 - 2023 and Forecast, 2024 - 2031 (Market Value, In USD Mn)
    1. 11.1 By Product Type Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
      1. 11.1.1 Nitrogen
      2. 11.1.2 Oxygen
      3. 11.1.3 Argon
      4. 11.1.4 Others
      11.2 By End-user Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
      1. 11.2.1 Chemical
      2. 11.2.2 Medical
      3. 11.2.3 Food & Beverage
      4. 11.2.4 Metallurgical
      5. 11.2.5 Energy.
      11.3 Country Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
      1. 11.3.1 Brazil
      2. 11.3.2 Mexico
      3. 11.3.3 Argentina
      4. 11.3.4 Peru
      5. 11.3.5 Colombia
      6. 11.3.6 Rest of Latin America
      11.4 Latin America Global Air Separation Plant Market – Opportunity Analysis Index, By Product Type, By End-user, and Country, 2024 - 2031
      11.5 Regional Trends Analysis
      11.6 Latin America Global Air Separation Plant Market Research Report - Company Profiles
      1. 11.6.1 Company 1 (Brazil)
      2. 11.6.2 Company 2 (Mexico)
      3. 11.6.3 Company 3 (Mexico)
    12. Middle East & Africa Global Air Separation Plant Market Analysis, 2019 - 2023 and Forecast, 2024 - 2031 (Market Value, In USD Mn)
    1. 12.1 By Product Type Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
      1. 12.1.1 Nitrogen
      2. 12.1.2 Oxygen
      3. 12.1.3 Argon
      4. 12.1.4 Others
      12.2 By End-user Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
      1. 12.2.1 Chemical
      2. 12.2.2 Medical
      3. 12.2.3 Food & Beverage
      4. 12.2.4 Metallurgical
      5. 12.2.5 Energy.
      12.3 Country Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
      1. 12.3.1 Saudi Arabia
      2. 12.3.2 UAE
      3. 12.3.3 South Africa
      4. 12.3.4 Egypt
      5. 12.3.5 Israel
      6. 12.3.6 Rest of Middle East and Africa
      12.4 Middle East & Africa Global Air Separation Plant Market – Opportunity Analysis Index, By Product Type, By End-user, and Country, 2024 - 2031
      12.5 Regional Trends Analysis
      12.6 Middle East & Africa Global Air Separation Plant Market Research Report - Company Profiles
      1. 12.6.1 Company 1 (Saudi Arabia)
      2. 12.6.2 Company 2 (UAE)
      3. 12.6.3 Company 3 (UAE)
    13. Competition Landscape
    1. 13.1 Strategic Dashboard of Top Market Players
      13.2 Company Profiles (Introduction, Financial Assessments, Portfolio of Offerings, Milestones and Achievements, Strategic Initiative, and SWOT Analysis)
      1. 13.2.1 Air Separation Plant Market – Linde plc
      2. 13.2.2 Air Liquide S.A.
      3. 13.2.3 Praxair Technology Inc.
      4. 13.2.4 Messer Group GmbH
      5. 13.2.5 Taiyo Nippon Sanso Corporation
      6. 13.2.6 Air Products and Chemicals Inc.
      7. 13.2.7 Universal Industrial Gases Inc.
      8. 13.2.8 Hangzhou Hangyang Co. Ltd.
      9. 13.2.9 Yingde Gases Group
      10. 13.2.10 Sichuan Air Separation Plant Group.
    14. Data Collection Method and Research Approach
    15. Principal Presumptions and Acronyms



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