LONDON–(BUSINESS WIRE)–Technavio’s latest market research report on the global non-cryogenic air separation plants market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022.
According to Technavio analysts, the global non-cryogenic air separation plants market will grow at a CAGR of close to 3% during the forecast period. The rise in global demand for oil and gas is a major factor driving the market’s growth.
Non-cryogenic air separation plants are used in the oil and gas industry for a wide-range of applications. Many types of industrial gases are required in the oil and gas industry for applications such as oil refining, gas processing, and storing. To guarantee continuous and easy availability of industrial gases, small to large air separation plants are installed along with the oil and gas refineries.
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In this report, Technavio highlights the emerging carbon capture systems as one of the key emerging trends in the global non-cryogenic air separation plants market:
Emerging carbon capture systems
Majority of the industries are not being able to dispose their polluted air into the atmosphere owing to the emergence of stringent emission norms. The air from the industries should be purified to meet emission standards by various governments. In order to solve this issue, most of the industries such as coal power plants, and other manufacturing units use carbon capture systems, which will collect polluted air in large storage systems for purification.
“Several industries are focusing on implementing this technology to reduce carbon emissions. Developed countries such as the US are using carbon capture systems in industries to limit pollution rates. For example, companies such as Coffeyville Gasification Plants and Lost Cabin Gas Plants in the US use carbon capture systems to control carbon emissions. There is a rising trend of using air separation plants to generate oxygen and nitrogen from the polluted air. During the forecast period, this trend is expected to be adopted by many companies, which will drive the non-cryogenic air separation plants market,” says a senior analyst at Technavio for research on unit operations.
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Global non-cryogenic air separation plants market segmentation
This market research report segments the global non-cryogenic air separation plants market into the following end-users (metallurgy, oil and gas, chemicals, and healthcare,) and key regions (the Americas, APAC, and EMEA).
The metallurgy segment held the largest market share in 2017, accounting for nearly 33% of the market. The market share for this end-user is expected to decrease by 2022. The fastest growing end-user is healthcare, which will account for nearly 10% of the total market share by 2022.
APAC was the leading region for the global non-cryogenic air separation plants market in 2017, accounting for a market share of nearly 34%. By 2022, APAC is expected to continue dominating the market and register the highest growth rate.
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