Air Separation Plant Market worth $5.9 billion by 2026 – Exclusive Report by MarketsandMarkets™ – MENAFN.COM

SourceMENAFN
SectorIndustrial
CountryGulf

(MENAFN - PR Newswire) CHICAGO, April 7, 2021 /PRNewswire/ -- According to the new market research report " Air Separation Plant Market By Process (Cryogenic, Non-cryogenic), Gas (Nitrogen, Oxygen, Argon, Others), End-Use Industry (Iron & Steel, Oil & Gas, Chemical, Healthcare, Others) and Region - Global Forecast to 2026" , published by MarketsandMarkets™, the global market for Air Separation Plants was valued at USD 4. 5 billion in 2021 and is projected to reach USD 5. 9 billion by 2026, at a CAGR of 4. 9% between 2021 and 2026.

The global market for air separation plants is driven by strong growth in demand, especially from the iron & steel, oil & gas, chemical, healthcare, and other end use industries. On the basis of process, the cryogenic process segment is projected to grow at the highest CAGR from 2021 to 2026. Cryogenic technology was commercialized in 1902 and has since been used extensively by companies across multiple industries that require gases such as nitrogen, oxygen, and others. Being the oldest air separation technology available, it has evolved considerably over the years, resulting in improved efficiency and high purity of yield gases. The growing demand for fabricated metals and alloys across ...read more...