Industrial Oxygen Market is Poised to Exhibit A Moderate 6.0% CAGR through 2029

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Industrial Oxygen Market

• March 2020

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

• 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.
• 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
• FMIs 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.

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Industrial Oxygen Market Analysis
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. Press Release Source
https//www.globenewswire.com/news-release/2019/08
/22/1905632/0/en/Global-Demand-for-Industrial-Oxyg
en-Likely-to-Rise-at-6-CAGR-through-2029-Future-Ma
rket-Insights.html
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Industrial Oxygen Market Analysis

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Industrial Oxygen Market Analysis
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