Global Oxygen Market Size & Share Value Projected Over USD 83 Billion by 2028

02-Mar-2020 | Facts and Factors

Findings from Facts and Factors report “Oxygen Market - By Form (Solid, Liquid, and Gaseous), By Application (Cosmetics, Mining & Mineral Processing, Automobiles, Pharmaceuticals, and Others), By End-Use (Scientific, Medical, and Industrial), and By Region: Global Industry Perspective, Market Size, Statistical Research, Market Intelligence, Comprehensive Analysis, Historical Trends, and Forecast 2021–2028” states that the global oxygen market in 2020 is approximately USD 49 Billion. The market is expected to grow at a CAGR of 7.7% and is anticipated to reach around USD 83 Billion by 2028.

Oxygen is a colorless and odorless element that exists commonly in gaseous form at normal temperatures. It is an essential element for life and constitutes nearly 21% of the earth’s atmosphere. From an industrial perspective, oxygen is a non-metal chemical element and a highly reactive oxidizing agent which actively produces oxides by reacting with different compounds and elements.

The most common method of oxygen production is through air separation with the use of a cryogenic distillation process or vacuum/pressure/hybrid swing absorption process. However, the cost of production is very high in the absorption process. Innovative and economical methods, such as membrane gas separation, for the production of oxygen are actively finding broader applications in various industries. The industries have a moderate necessity for highly pure oxygen with a purity level of up to 45%. Oxygen is generally stored in containers and cylinders in the form of liquid.

The foremost consumers of oxygen are the steel manufacturing industries, metal refineries. The oxygen is also used in petroleum processing, pharmaceuticals, glass and ceramic production, effluent plant treatment as well as paper and pulp production. Steel industries which are primary consumers of oxygen, use oxygen for increasing combustion temperatures thereby reducing the consumption of other energy materials. In pharmaceutical oxygen is used for the manufacturing of propylene oxides, ethylene oxides, and synthesis gas. In refineries, oxygen is used as a regenerator catalyst to enhance the quality of air feed in catalytic cracking units. The consumption of oxygen as a catalyst and oxidizing agent in these industries has seen an upward trend which in turn has increased the size of the global oxygen market. Moreover, the rising application of oxygen in breathing aids and apparatus in hospitals as well as in diving and trekking adventures is an additional factor that is propelling the growth of oxygen market. However, the cost of oxygen is still a major factor restricting the growth in smaller-scale applications. Moreover, continuous innovation in portable concentrators is changing the dynamics of the oxygen market, particularly in the healthcare segment.

The segmental analysis predicts the gaseous form of oxygen to occupy more than 69% of the market share by 2028 while being the highest consumed form of oxygen throughout the period.

Among the applications, the automobile industry and mining & mineral processing are expected to be major areas of consumption while acquiring a combined market share of greater than 80.5% by 2028. Oxygen consumption in mining and mineral processing is expected to grow in synergy with the global oxygen market while exhibiting a CAGR of around 8.9% during the forecast period of 2021 to 2028.

The global market is split into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. Asia Pacific region will continue to dominate the global market share of the oxygen market. North America and Europe are expected to witness market growth of 7.8 % during the forecast period. Asia Pacific, North America, and Europe together will contribute to more than 90 % of global oxygen consumption.

Report Scope

Major players in the global oxygen market covered in this report include Airgas Inc., Yingde Gases, The Linde Group, Air Liquide, Baosteel Metal Co. Ltd., Praxair Technology Inc., Air Water Inc., Guangdong Haute Gas Co. Ltd., and Taiyo Nippon Sanso.

Browse the full “Oxygen Market - By Form (Solid, Liquid, and Gaseous), By Application (Cosmetics, Mining & Mineral Processing, Automobiles, Pharmaceuticals, and Others), By End-Use (Scientific, Medical, and Industrial), and By Region: Global Industry Perspective, Market Size, Statistical Research, Market Intelligence, Comprehensive Analysis, Historical Trends, and Forecast 2021–2028" report at https://www.fnfresearch.com/oxygen-market

This report segments the oxygen market as follows:

Global Oxygen Market: By Form Segmentation Analysis

• Solid
• Liquid
• Gaseous

Global Oxygen Market: By Application Segmentation Analysis

• Cosmetics
• Mining and Mineral Processing
• Automobiles
• Pharmaceuticals
• Others

Global Oxygen Market: By End-Use Segmentation Analysis

• Scientific
• Medical
• Industrial

Global Oxygen Market: Regional Segmentation Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of the Middle East & Africa

About Us:

Facts & Factors is a leading market research organization offering industry expertise and scrupulous consulting services to clients for their business development. The reports and services offered by Facts and Factors are used by prestigious academic institutions, start-ups, and companies globally to measure and understand the changing international and regional business backgrounds. Our client’s/customer’s conviction on our solutions and services has pushed us in delivering always the best. Our advanced research solutions have helped them in appropriate decision-making and guidance for strategies to expand their business.

Contact Us:

Facts & Factors
A 2108, Sargam,
Nanded City,
Sinhagad Road,
Pune 411041, India
USA: +1 (347) 690-0211
Email: [email protected]
Web: https://www.fnfresearch.com