Asia Pacific Air Separation Plant Market Size study, by Process (Cryogenic, Non-cryogenic) by Gas (Nitrogen, Oxygen, Argon, Others) by End-use (Iron & steel, Oil & Gas, Chemical, Healthcare, Others) and Country Forecasts 2022-2032

Asia Pacific Air Separation Plant Market Size study, by Process (Cryogenic, Non-cryogenic) by Gas (Nitrogen, Oxygen, Argon, Others) by End-use (Iron & steel, Oil & Gas, Chemical, Healthcare, Others) and Country Forecasts 2022-2032

Asia Pacific Air Separation Plant Market is valued approximately USD 3.11 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 5.99% over the forecast period 2024-2032. An Air Separation Plant (ASP) is a facility used for the separation of atmospheric air into its primary components, primarily nitrogen, oxygen, and argon. The process typically involves cryogenic distillation, where air is cooled and compressed to very low temperatures, causing its components to liquefy at different points. These liquefied components are then separated through distillation processes. The key trend of Air Separation Plant Market in Asia Pacific is increasing focus on healthcare infrastructure development. There has been a rising demand for medical gases such as oxygen and nitrogen. Air separation plants play a crucial role in producing high-purity medical gases, which are essential for medical treatments and facilities.

Moreover, the rapid industrialization and urbanization in Asia Pacific countries are leading to increased demand for industrial gases. Air separation plants are essential for producing gases such as nitrogen, oxygen and argon, which find applications across various industries such as chemicals, metallurgy, healthcare, electronics, and food processing. Additionally, growing shift towards renewable energy, supportive initiatives and regulations, growing demand in metal fabrication and automotive industries and rising demand for LNG production are anticipated to support the market growth. However, the high cost associated with fabrication and operation are expected to hinder the market growth during the forecast period 2024-2032.

The key countries considered for the Asia Pacific Air Separation Plant market study includes China, India, Japan, South Korea, Australia and Rest of Asia Pacific. In 2023, China was the largest regional market in terms of revenue. The Air Separation Plant market in China is driven by the expanding healthcare sector, rising demand for industrial gases, growing Steel and Process Industries, and growing infrastructure projects, including construction, transportation, and energy, require substantial amount of industrial gases for various applications such as welding, cutting, and powering machinery. Also, the growing expansion of refineries in China creates significant demand for industrial gases, which in turn fuels the growth of the air separation plant market by requiring additional capacity to meet the rising needs of the refining industry. In March 2023, Saudi Aramco aims to initiate operations at its refinery and inaugurate its new petrochemical project in northeast China. The USD 10 billion endeavor, located in Panjin, Liaoning Province, marks Aramco's second significant venture in the refining and petrochemical sectors within China. Moreover, India is expected to grow with the highest CAGR during the forecast period 2024-2032.

Major market player included in this report are:
Taiyo Nippon Sanso Corporation
Daesung Industrial Co., Ltd.
Air Water Inc.
Hangzhou Hangyang Co., Ltd.
Company 5
Company 6
Company 7
Company 8
Company 9
Company 10

The detailed segments and sub-segment of the market are explained below:
By Process
Cryogenic
Non-cryogenic

By Gas
Nitrogen
Oxygen
Argon
Others

By End-use
Iron & steel
Oil & Gas
Chemical
Healthcare
Others
By Region:
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Years considered for the study are as follows:
Historical year – 2022
Base year – 2023
Forecast period – 2024 to 2032

Key Takeaways:
Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and country level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market

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