Industrial Oxygen Market Estimated to Expand at a Double-Digit CAGR ~ 6% through 2019-2029

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Industrial Oxygen Market

• July 2019

Report Id REP-GB-10071 Published On
July-2019 Category Chemicals and Materials
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Industrial Oxygen Market Analysis

• A Staggering CAGR 6 Projected for Industrial
  Oxygen Market During 2019-2029
• VALLEY COTTAGE -- Future Market Insights (FMI),
  in its new publication, offers a perspective on
  the future trajectory of the global industrial
  oxygen market for the period between 2019 and
  2029. As per the report, global sales of
  industrial oxygen reached 380 million tons in
  2018, equaling revenues worth US 45 Mn. With
  rapid growth in steel production to meet the
  demand from upcoming infrastructural projects,
  industrial oxygen manufacturers are hard-pressed
  to adopt advanced technologies, to enhance their
  production capacities.
• Demand for high-grade industrial oxygen is
  rapidly expanding in healthcare industry. As
  governments continue to put emphasis on greater
  healthcare access in rural communities, the FMI
  study finds that key market players are working
  on installing small- and medium-sized separate
  oxygen generation plants for hospitals in remote
  areas, to avoid any shortage in critical
  situations.
• Market players have been strategically
  establishing air separation unit (ASU) production
  facilities, especially in developing countries,
  in partnership with local manufacturers. The
  report suggests that these partnerships aim to
  address the bulk requirements of industrial
  oxygen and other industrial gases in a whopping
  number of steel projects. However, industrial
  oxygen manufacturing uses tremendous amount of
  electricity and requires large and sophisticated
  equipment to separate, purify, and store these
  gases, which represent a threat to the steady
  growth of the market.

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Industrial Oxygen Market Analysis

• Key Players Explore Untapped Markets to Drive
  Sales Opportunities
• FMI's study finds that the industrial oxygen
  market is likely to grow at a CAGR of 6 through
  2029. One of the recent trends in the market is
  cracking the code of MA activities with regional
  stakeholders to reduce transportation expense and
  supply loads, which in turn, reduces the overall
  cost for end users. With variation in the demand
  from different end users, compressed oxygen gas
  in single cylinders, which continues to be a
  low-cost, versatile method of oxygen supply, are
  likely to witness significant sales even in
  cost-sensitive markets. However, liquefied oxygen
  will continue to gain momentum in a multitude of
  industries, attributing to its high convenience
  quotient in terms of transportation and storage,
  irrespective of volume.
• According to the study, innovations have been
  forthcoming for application of high-purity (gt99)
  industrial oxygen in a number of non-traditional
  areas. The market has been benefiting from rising
  demand for food-grade industrial gases that not
  only comply with the food grade standards but
  also help maintain the freshness of end products.
  Further, considering the limiting features of
  conventional stationary oxygen concentrators for
  patients with chronic obstructive pulmonary
  disease (COPD), market players mainly operating
  in medical gases sector are working on portable
  oxygen concentrators.

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Industrial Oxygen Market Analysis

• As industrial oxygen remains critical to the
  successful operations of a variety of
  manufacturing processes in steel and chemical
  industries, significant focus has been placed on
  the development of large-scale cryogenic air
  separation technology. Representing revenue share
  of 70, cryogenic air separation process of
  industrial oxygen continues to witness higher
  investments and innovations, according to the
  study.
• The study opines that as manufacturing base of
  the world continues to shift towards developing
  countries in Asia Pacific where operational costs
  are relatively low, market stakeholders are
  directing their investments in setting up
  production facilities catering to steelmaking and
  other manufacturing industries. In Asia Pacific,
  demand for industrial oxygen keeps cropping up in
  various sectors including pharmaceutical
  biotechnology and water wastewater treatment,
  providing an added advantage to manufacturers,
  looking to reach newer consumer bases.
• As per the study, ongoing consolidation of key
  players are creating entry barriers for local
  players. With the similarities of core
  businesses, there has been no significant
  obstacles to mergers for leading stakeholders.
  However, lack of funding and minimal technology
  upgradation have restricted the competitive
  advantage for smaller players. Moreover,
  manufacturers and suppliers of industrial oxygen
  will remain focused on establishing long-term
  supply agreements with end users to stay ahead of
  the pack.

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Industrial Oxygen Market Analysis

• Press-release Source - https//www.prnewswire.com/
  news-releases/industrial-oxygen-market-is-expected
  -to-grow-at-a-cagr-of-6-during-the-forecast-period
  -of-2019-to-2029--future-market-insights-300887288
  .html
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Industrial Oxygen Market Analysis

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