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Industrial Oxygen Market

Published Date : Jun 2024 | Forecast Year : 2019

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Industrial Oxygen Market Size, Share, Industry Trends Segmentation Analysis by Type (Gaseous Oxygen, Liquid Oxygen) by Application (Steel and Metal Production, Chemical and Petrochemical Industries, Healthcare, Wastewater Treatment) Growth, Demand, Regional Outlook, and Forecast 2024-2032

Report ID: AG923

Published : Jun 2024

Pages : 152

Category : Chemical & Material

Format : Industrial Oxygen Market

REPORT ATTRIBUTEDETAILS
MARKET SIZE (2032)USD 84.19 billion
MARKET SIZE (2023)USD 50.42 billion
CAGR (2023-2029)7.15%
HISTORIC YEAR2019
BASE YEAR2023
FORECAST YEAR2032
BY TYPEGaseous Oxygen
Liquid Oxygen
BY APPLICATIONSteel and Metal Production
Chemical and Petrochemical Industries
Healthcare
Wastewater Treatment
GEOGRAPHIC ANALYSISNorth America, Europe, Asia Pacific, Latin America, and Middle East & Africa
KEY PLAYERSLinde plc, Air Liquide S.A., Air Products and Chemicals, Inc., Praxair, Inc. (now part of Linde plc), Taiyo Nippon Sanso Corporation, Messer Group GmbH, SOL Group, Yingde Gases Group Company Limited, Gulf Cryo, Nexair LLC, BOC (a member of The Linde Group), Taiyo Oxygen, SIG Gases Berhad, Universal Industrial Gases, Inc., Matheson Tri-Gas, Inc..

Introduction: - 

Industrial oxygen is essential for many industrial processes, including steel production, chemical industry and wastewater treatment. It is mainly extracted from air by cryogenic distillation or pressure swing adsorption methods. In steel production, oxygen improves furnace efficiency and reduces greenhouse gas emissions. The chemical industry uses oxygen as a raw material in oxidation processes, while water purification supports it by supporting aerobic bacteria in the decomposition of organic matter. Medical facilities also use industrial oxygen for therapeutic purposes, such as to support the breathing of patients. In addition, oxygen fuels oxyfuel processes in cutting, welding and heating applications because it can withstand high flame temperatures. Its role extends to the production of ozone in water purification and to increasing efficiency in the production of glass and ceramics. In general, industrial oxygen is indispensable in many fields, facilitating key processes that support modern industrial and medical practices.

The global Industrial Oxygen Market value was 50.42 billion in 2023, it is Expected to Rise 84.19 billion 2032 with CAGR of 7.15%

Industrial Oxygen Market

Size, by Product, - (USD Billion)

Gaseous Oxygen

Liquid Oxygen

Others

Others

Other Products

18 16 14 12 10 8 6 4 2 0

The Market will Grow

At the CAGR of:

7.15%

The Forecast Market

Size for in USD:

$84.19 billionB

b0d51e3055fd6f23ff6a384a6e091406.svg

Market overview: -

The industrial oxygen market is strong and diverse due to its central role in various sectors around the world. Key industries include steel production, where oxidized processes are increasingly used for efficiency and environmental benefits. The chemical industry uses oxygen in oxidation reactions, while healthcare requires it for therapeutic purposes and medical gases. In addition, industrial oxygen supports key applications in wastewater treatment, increasing the efficiency and environmental sustainability of wastewater treatment plants worldwide. The market is characterized by gas production and distribution incumbents using advanced technologies such as cryogenic distillation and PSA to meet growing demand. Developing economies are witnessing increasing industrialization and urbanization, increasing the demand for oxygen in construction and infrastructure development. Innovations in production methods and distribution logistics further optimize supply chains and ensure reliable delivery to end users. Overall, the industrial oxygen market is poised for steady growth across the globe due to industrial expansion, technological advancements, and evolving environmental regulations.

Market trends: -

There are several important trends in the industrial oxygen market that will shape its future course. One important trend is the spread of oxidized processes in the steel and metal industry. This change is due to the need to increase efficiency, reduce carbon dioxide emissions and improve product quality. In addition, there is a growing focus on sustainable practices, leading to innovations in oxygen production methods that minimize energy consumption and greenhouse gas emissions. 

Another trend is the expansion of the use of industrial oxygen in health care, due to the increase in respiratory diseases and the need for reliable medical gas supply systems. In addition, the development of technology, for example the digitization and automation of production and distribution processes, increases operational efficiency and ensures reliable management of the supply chain. In addition, strict environmental regulations around the world are forcing industry to use cleaner technologies, including oxygen-based processes, to meet emission standards and reduce environmental impact. Overall, these trends highlight a dynamic market landscape for industrial oxygen characterized by innovation, sustainability and changing industry needs.

Industrial Oxygen Market Segmentation: -

Types:

  • Gaseous Oxygen
  • Liquid Oxygen

Applications

  • Steel and Metal Production
  • Chemical and Petrochemical Industries
  • Healthcare
  • Wastewater Treatment
  • Oxy-fuel Combustion
  • Other Industrial Applications

Regions:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

    Industrial Oxygen Market

    Share, by end user, (USD Billion)

    Analytica Global 50.42 billion%

    Steel and Metal Production

    Chemical and Petrochemical Industries

    Healthcare

    Wastewater Treatment

    Other End-Users

    b0d51e3055fd6f23ff6a384a6e091406.svg

    84.19 billion

    Total Market Size

    USD (Billion),

    7.15%

    CAGR

    -

Top Companies: -

  • Linde plc
  • Air Liquide S.A.
  • Air Products and Chemicals, Inc.
  • Praxair, Inc. (now part of Linde plc)
  • Taiyo Nippon Sanso Corporation
  • Messer Group GmbH
  • SOL Group
  • Yingde Gases Group Company Limited
  • Gulf Cryo
  • Nexair LLC
  • BOC (a member of The Linde Group)
  • Taiyo Oxygen
  • SIG Gases Berhad
  • Universal Industrial Gases, Inc.
  • Matheson Tri-Gas, Inc.

Regional Insights: -

In North America, a strong industrial gas sector, led by major players such as Linde plc and Air Products, supports strong demand for steel production and healthcare applications, with a focus on sustainability initiatives. Europe emphasizes reducing its carbon footprint, adopting oxygen-enhanced processes in steel production, and strict environmental regulations affecting marketing strategies. The Asia-Pacific region is experiencing rapid industrialization, particularly in China and India, which is driving demand across sectors including manufacturing and healthcare, supported by infrastructure investment. Latin America has a growing industrial base and increasing investments in healthcare will lead to market growth. Meanwhile, in the Middle East and Africa, the growth of the oil and gas sector and the development of infrastructure support the growing demand for industrial gases, including oxygen, to diversify the economy and improve health services. These regional nuances shape market trends, investment opportunities, and regulations in the global industrial oxygen market.

Industrial Oxygen Market

Size, by Product, - (USD Billion)

NORTH AMERICA $ 21

The Market will Grow

At the CAGR of:

7.15%

The Forecast Market

Size for in USD:

$84.19 billionB

b0d51e3055fd6f23ff6a384a6e091406.svg

Market opportunity: -

Growing Industrialization: As economies continue to industrialize, especially in developing markets in parts of Asia Pacific, Latin America, and Africa, the demand for industrial oxygen is expected to increase significantly. Industries such as steel, chemicals and healthcare rely heavily on oxygen for various processes. For example, oxidized processes in steel production increase efficiency and reduce emissions in line with global sustainability goals. Rapid urbanization and infrastructure development in these regions further increases the need for construction materials and machinery, which in turn increases the demand for industrial gases, including oxygen.

Innovations in Gas Applications: Innovative applications of industrial oxygen such as wastewater treatment, food processing and pharmaceutical manufacturing are opening up new opportunities for market growth. The role of oxygen as an enhancer of biological treatment processes in sewage plants, in food safety through modified atmosphere packaging, and in supporting pharmaceutical production that meets strict purity standards highlights its various applications outside of traditional industry.

Market Challenges: -

Safety and Use Hazards: Handling industrial oxygen is an inherent safety hazard due to its flammability and concentrated burning potential. Ensuring strict adherence to safety protocols, employee training programs and comprehensive emergency response plans is essential to reducing operational risks and ensuring workplace safety. Compliance with safety standards and regulatory requirements is non-negotiable but requires constant vigilance and investment.

Industrial Oxygen Market TO (USD BN)

Industrial Oxygen Market

CAGR OF

7.15%

Industrial Oxygen Market

b0d51e3055fd6f23ff6a384a6e091406.svg
Analytica Global 84.19 billion%

Recent development: -

It includes technological innovations in production methods and sustainability initiatives to reduce carbon emissions. The pandemic has increased the demand for medical oxygen, which has led to an expansion of the healthcare infrastructure. Mergers and acquisitions continue to shape the competitive landscape, increasing market concentration and geographic scope. Diversification of applications outside traditional areas and a strong focus on security and regulatory compliance are further driving industry trends, reflecting the dynamic and evolving market environment worldwide.

Frequently Asked Question (FAQ): -

Q1. How big is the Industrial Oxygen Market?

The Industrial Oxygen Market size will be worth 84.19 billion by 2032.

Q2. What is the growth rate of Industrial Oxygen Market?

The growth rate of the Industrial Oxygen Market is 7.14%.

Q3. Which region held the largest market share in the Industrial Oxygen Market?

North America region had the largest share in the Industrial Oxygen Market 

Q4. What are the top players operating in the Industrial Oxygen Market?

Linde plc, Air Liquide S.A., Air Products and Chemicals, Inc., Praxair, Inc. (now part of Linde plc), Taiyo Nippon Sanso Corporation, Messer Group GmbH, SOL Group, Yingde Gases Group Company Limited, Gulf Cryo, Nexair LLC, BOC (a member of The Linde Group), Taiyo Oxygen, SIG Gases Berhad, Universal Industrial Gases, Inc., Matheson Tri-Gas, Inc.

Industrial Oxygen Market - Global Outlook & Forecast 2024-2029

Analytica Global
Analytica Global
Analytica Global
Analytica Global
Analytica Global
Analytica Global
Analytica Global
Analytica Global
Analytica Global
Analytica Global
Analytica Global
Analytica Global

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