The Global Industrial Oxygen Market was valued USD 21.5 BN (by revenue) in 2018 and is anticipated to reach USD 35.7 BN by 2025. The market is expected to exhibit a CAGR of 7.5% under the forecast period of 2019-2025. The industrial oxygen market is forecast to accomplish a robust growth over the forecast period owing to the increasing application of oxygen in gasification to generate electricity or steam. Also, rising demand for pure oxygen across nuclear reactors, laboratories, an optical fiber and semiconductors is further propelling the market growth. Additionally, the growing application of oxygen in order to enhance the combustion process across various sectors such as iron, glass, steel, and concrete manufacturing industries is also expected to expand the market presence.
Industrial gases are widely used in a variety of purity grades and for a wide range of purposes as these gases make production process safer and enhance product quality. The common gases used across various industries are nitrogen, oxygen, carbon dioxide, argon, hydrogen, helium, and acetylene. Out of which, oxygen is one of the most common gases used and is produced by air separation processes. Among various application, the steel industry has accounted for the largest consumption sector of industrial oxygen.
The report "Global Industrial Oxygen Market Report By Product (Compressed Oxygen And Refrigerated Liquid), By Application (Combustion, Oxidation And Ferment), By End-Use Industries (Chemical, Metal, Cement, Glass, Pharmaceutical, Water Treatment And Others) And By Regions - Industry Trends, Size, Share, Growth, Estimation And Forecast, 2018-2025 covers major segments, regional analysis and top companies engaged in the market.
The market segmentation has been done on the basis of product, application, end-use industries, and region. By-product the market has been bifurcated into compressed oxygen and refrigerated liquid. The refrigerated liquid is dominating the segment and is likely to maintain its dominance over the forecast period owing to high demand from various end-user industries. By application, the market has been segregated into combustion, oxidation, and ferment. Combustion has emerged as the largest application area owing to rising application of oxygen gas across various manufacturing industries as it enhances the endothermic process. By end-use industries, the market has been fragmented into chemical, metal, cement, glass, pharmaceutical, water treatment, and others. Metal (steel) is dominating the segment owing to the high demand for oxygen as it enhances the melting processes to cast iron and steel production. Geographically, the market has been analyzed across the region of North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. Currently, Asia-Pacific is leading the market owing to the presence of a large number of electronic manufacturing industries in the region, especially in countries like Japan, Singapore, China, Malaysia, and Thailand.
The Report Segments Global Industrial Oxygen Market -
By End-Use Industries
Players Profiled in the Report:
Air Liquide, Air Products and Chemicals Inc., Gulf Cryo, Linde Ag, Matheson Gas, Messer Group, Nexair LLC, Praxair, Southern Industrial Gas Berhad and Taiyo Nippon Sanso.
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