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Global Industrial Oxygen Market Estimated to Reach USD 187.11 Billion by 2026

26-Mar-2020 | Facts and Factors

Findings from Facts and Factors report “Industrial Oxygen Market By Type (Compressed Oxygen, Refrigerated Liquid, and Others) and By Application (Combustion, Oxidation, Ferment, and Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” states that the global Industrial Oxygen market in 2019 was approximately USD 10.84 Billion. The market is expected to grow at a CAGR of 7.09% and is anticipated to reach around USD 187.11 Billion by 2026.

The industrial oxygen is ideally made by the compressed or stored in the form of refrigerated liquid.  Industrial oxygen is used in various industrial processes such as oxidizing agent and catalyst. The oxygen gas is helpful for various industries such as chemical, metal, cement, glass, pharmaceutical, water treatment, and pulp and water. These industries receive industrial oxygen in the form of cylinders, containers, and cans.

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The rise in demand for industrial oxygen by the steel and manufacturing industry is expected to drive significant demand for Industrial oxygen in the forthcoming period. In the steelmaking process, the industrial oxygen reacts with unwanted carbon and forms carbon dioxide which is released. Pure steel can be obtained by using this process. Moreover, a rise in demand for the oxygen from chemical and petrochemical processing industries also propelling the industrial oxygen market. Industrial oxygen is widely used in the chemical industry for synthesis and hydrocarbon breaking purposes. While in the petrochemical industry the industrial oxygen is majorly used for an oxidation purpose. At the same time industry also faces a few challenges. Blasts of the oxygen cylinder may hinder the growth of the product and brand. On the other hand, large scale industrial and infrastructure projects and increasing investment in the Asia Pacific is expected to create demand for the industrial oxygen in the forthcoming time.

The industrial oxygen market is bifurcated in the refrigerated liquid, compressed oxygen, and others. Refrigerated Liquid is expected to hold the largest market share in the forecasted time owing to the wide use of liquid industrial oxygen. The industrial oxygen is used in industrial as well as in the medical field. Also, according to an application, the industrial oxygen market is bifurcated as Industrial, combustion, ferment, and others. The industrial category is expected to fetch maximum revenue owing to momentous demand for the oxygen by the industries. The steel industry generates predominant demand for industrial oxygen.

According to the regional, the market is segmented as Europe, North America, Latin America, Asia Pacific and the Middle East and Africa. The Asia Pacific is expected to become the fastest-growing region owing to large scale industrial and infrastructure projects and increasing investment. The enormous industrial and infrastructural investment occurring in the Asia Pacific is expected to create a favorable ecosystem for the various manufacturing and chemical business. The easy and economical availability of the resources is pulling investors to invest in Asia. North America is expected to remain on the second rank followed by Europe. Latin America and the Middle East are expected to grow at the moderate to lower rate owing to moderate investment growth of the Industrial and infrastructure sector.

The market for industrial oxygen is quite competitive. The key players in the market include Air Products and Chemicals Inc., Norco, Linde AG, SOL Group, Southern Industrial Gas Berhad, Praxair, Air Liquide, Gulf Cryo, Matheson Gas, Nexair LLC, Messer Group, Taiyo Nippon Sanso, and Others.

This report segments the Industrial Oxygen market as follows:

Global Industrial Oxygen Market: By Type Segmentation Analysis

  • Compressed Oxygen
  • Refrigerated Liquid
  • Others

Global Industrial Oxygen Market: By Application Segmentation Analysis

  • Combustion
  • Oxidation
  • Ferment
  • Others

Global Industrial Oxygen Market: Regional Segmentation Analysis

  • North America
    • The U.S.
    • Canada
  • Europe
    • Germany
    • The UK
    • France
    • Spain
    • 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 Middle East & Africa

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