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Air Separation Unit Market Size (2024 - 2029)

The air separation unit market is anticipated to experience growth driven by the rising demand for industrial gases, particularly due to expansion in the steel and process industries. Despite the high costs associated with supplying high-purity industrial gases, which is prompting some companies to explore alternative separation techniques, the market is poised for opportunities, especially in regions like the Middle East and Africa, where urbanization and industrialization are on the rise. The Asia-Pacific region is expected to lead the market, with significant demand originating from countries such as India and China.

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Market Size of Air Separation Unit Industry

Air Separation Unit - Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
CAGR 4.82 %
Fastest Growing Market Asia-Pacific
Largest Market Asia-Pacific

Major Players

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*Disclaimer: Major Players sorted in no particular order

Air Separation Unit Market Analysis

The air separation unit (ASU) market size is expected to grow from USD 5.32 billion by the end of this year to USD 6.73 billion after five years, at a CAGR of 4.82% during the forecast period.

  • Over the medium term, factors such as increasing demand for industrial gases, spurred by the growth in steel and process industries, are likely to drive the market growth during the forecast period.
  • On the other hand, since the cost to supply high-purity industrial gases is huge, several operating companies are shifting toward alternate air separation techniques, such as pressure swing adsorption (PSA), as a cost-effective solution that may restrain the market for air separation units.
  • Nevertheless, countries such as Saudi Arabia, the United Arab Emirates, and South Africa have been witnessing a high growth rate of urbanization and industrialization activities. They are expected to offer growth opportunities for air separation unit players. Therefore, the increase in industrial development activities in the Middle East and African region presents a good market opportunity for air separation unit market players in the coming years.
  • Asia-Pacific is expected to dominate the market during the forecast period, with most of the demand coming from countries like India, China, etc.

Air Separation Unit Industry Segmentation

Air separation units (ASU) are the devices used to extract gases, like nitrogen, oxygen, argon, etc., from the atmosphere through cryogenic distillation or non-cryogenic distillation.

The air separation unit market is segmented by process, gas, end user, and geography. By process, the market is segmented into cryogenic distillation and non-cryogenic distillation. By gas, the market is segmented by gas into nitrogen, oxygen, argon, and other gases. By end user, the market is segmented as chemical industry, oil and gas industry, iron and steel industry, and other end users. The report also covers the market size and forecasts for the air separation unit market across major regions. The report offers the market size in value terms in USD for all the abovementioned segments. 

Process
Cryogenic Distillation
Non-cryogenic Distillation
Gas
Nitrogen
Oxygen
Argon
Other Gases
End User
Chemical Industry
Oil and Gas Industry
Iron and Steel Industry
Other End Users
Geography (Regional Market Analysis {Market Size and Demand Forecast till 2028 (for regions only)})
North America
United States of America
Canada
Rest of the North America
Asia
China
India
South Korea
Japan
Rest of the Asia
Europe
United Kingdom
Germany
Italy
France
Rest of the Europe
Middle-East and Africa
Saudi Arabia
United Arab Emirates
South Africa
Rest of the Middle-East and Africa
South America
Brazil
Argentina
Rest of the South America
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Air Separation Unit Market Size Summary

The air separation unit (ASU) market is poised for significant growth over the forecast period, driven by the increasing demand for industrial gases, particularly in the steel and process industries. The iron and steel sector, a major consumer of ASUs, relies heavily on these units for oxygen supply, which is essential for steel production processes. The ongoing industrialization and urbanization in regions like the Middle East and Africa, along with the robust growth in Asia-Pacific, particularly in China and India, are expected to bolster the market. However, the high cost of supplying high-purity industrial gases is prompting some companies to explore alternative air separation techniques, which could pose a challenge to market expansion.

Asia-Pacific is anticipated to maintain its dominance in the ASU market, with China leading due to its substantial investments in refining, petrochemical infrastructure, and electronics manufacturing. The region's demand is further fueled by the increasing steel production in India and the ongoing shale revolution in China, which has expanded petrochemical capacities. Major players in the market, such as Linde AG, Messer Group GmbH, and Air Products and Chemicals Inc., are actively investing in new projects and partnerships to meet the rising demand for industrial gases. These developments, coupled with strategic investments in air separation units, are expected to drive market growth and enhance the competitive landscape in the coming years.

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Air Separation Unit Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Market Size and Demand Forecast in USD billion, till 2028

    3. 1.3 Recent Trends and Developments

    4. 1.4 Market Dynamics

      1. 1.4.1 Drivers

        1. 1.4.1.1 Increasing Demand for Industrial Gases

        2. 1.4.1.2 Growth in Steel and Process Industries

      2. 1.4.2 Restraints

        1. 1.4.2.1 The Huge Cost to Supply High-Purity Industrial Gases

    5. 1.5 Industry Supply Chain Analysis

    6. 1.6 Porter's Five Forces Analysis

      1. 1.6.1 Bargaining Power of Suppliers

      2. 1.6.2 Bargaining Power of Consumers

      3. 1.6.3 Threat of New Entrants

      4. 1.6.4 Threat of Substitutes Products and Services

      5. 1.6.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Process

      1. 2.1.1 Cryogenic Distillation

      2. 2.1.2 Non-cryogenic Distillation

    2. 2.2 Gas

      1. 2.2.1 Nitrogen

      2. 2.2.2 Oxygen

      3. 2.2.3 Argon

      4. 2.2.4 Other Gases

    3. 2.3 End User

      1. 2.3.1 Chemical Industry

      2. 2.3.2 Oil and Gas Industry

      3. 2.3.3 Iron and Steel Industry

      4. 2.3.4 Other End Users

    4. 2.4 Geography (Regional Market Analysis {Market Size and Demand Forecast till 2028 (for regions only)})

      1. 2.4.1 North America

        1. 2.4.1.1 United States of America

        2. 2.4.1.2 Canada

        3. 2.4.1.3 Rest of the North America

      2. 2.4.2 Asia

        1. 2.4.2.1 China

        2. 2.4.2.2 India

        3. 2.4.2.3 South Korea

        4. 2.4.2.4 Japan

        5. 2.4.2.5 Rest of the Asia

      3. 2.4.3 Europe

        1. 2.4.3.1 United Kingdom

        2. 2.4.3.2 Germany

        3. 2.4.3.3 Italy

        4. 2.4.3.4 France

        5. 2.4.3.5 Rest of the Europe

      4. 2.4.4 Middle-East and Africa

        1. 2.4.4.1 Saudi Arabia

        2. 2.4.4.2 United Arab Emirates

        3. 2.4.4.3 South Africa

        4. 2.4.4.4 Rest of the Middle-East and Africa

      5. 2.4.5 South America

        1. 2.4.5.1 Brazil

        2. 2.4.5.2 Argentina

        3. 2.4.5.3 Rest of the South America

Air Separation Unit Market Size FAQs

The Air Separation Unit Market is projected to register a CAGR of 4.82% during the forecast period (2024-2029)

Linde AG, Messer Group GmbH, Air Liquide SA, Air Products and Chemicals, Inc. and SIAD Macchine Impianti S.p.A. are the major companies operating in the Air Separation Unit Market.

Air Separation Unit Market Report Snapshots

Air Separation Unit Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)