Global Industrial Oxygen Market – Industry Trends and Forecast to 2029

Industrial Oxygen Market Analysis and Size

Industrial oxygen has been widely used in many applications such as in medical, food, metal making, and pharmaceutical sectors and it is also been used in the manufacturing of pulp. A range of technologies are used to generate high-purity oxygen, including pressure swing adsorption, cryogenic separation, and membrane technology. The use of industrial oxygen in the glass sector has also the large part of demand in the whole market. The key application areas of industrial oxygen are in oxidation, combustion, and fermentation.

Data Bridge Market Research analyses that the industrial oxygen market is expected to undergo a CAGR of 8.50% during the forecast period. This indicates that the market value, which was USD 65,100.00 million in 2021, would rocket up to USD 125,031.34 million by 2029.  In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Industrial Oxygen Market Scope and Segmentation

Market Definition

Industrial oxygen is a type of oxygen which is used in industrial purposes such as manufacturing plants, for tasks which may include oxidation, combustion and even to help accelerate the certain chemical reactions.

Industrial Oxygen Market Dynamics

Drivers

• Growth of end user industry

The development of end-user sectors such as metalworking and welding, healthcare, chemistry and construction and metallurgy and the steel and iron industry are expected to drive the growth of the industrial oxygen market during forecast period.

• Rise the demand in chemical sector

Industrial oxygen is high in demand because it is widely used in chemical sector as raw material during the chemical reaction. It is used as an oxidizing agent for the production of several chemicals. It is also used by mining companies to blast off the rocks. Also, gaseous oxygen is used to support rocket fuel combustion in spaceships and liquid industrial oxygen is used as a fuel bipropellant vehicle. The rising demand in the chemical sector is expected to drive the market's growth rate.

• Rising demand in healthcare sector

The constantly increasing demand of industrial oxygen after purification process in healthcare and medical sector has been increasing the sales of industrial oxygen which are expected to drive the revenue growth of the industrial oxygen market

Opportunities

• Industrial Oxygen Manufacturers Adopting IoT Technology

Many industrial oxygen manufacturers are adopting IoT (Internet of Things) technologies to connect smart devices and equipment to locate gaps and garner real time insights in the manufacturing process. The data obtained is analyzed, processed and interpreted by the senior level management and plant managers to achieve optimum production levels and improve quality. For instance, smart systems give information on the performance of chemical reactors working condition with embedded analytics tools and software to notify plant managers and operators on possible machine breakdowns.  Some of the key companies adopting IoT include Air Liquide and Linde Gases. 

Restraints/Challenges

• Increasing environmental concern

However, during industrial oxygen production, a large amount of electricity is used and needs sophisticated and large equipment to purify, separate and store these gases, which creates a problem to the steady growth of the industrial oxygen market.

This industrial oxygen market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the industrial oxygen market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

COVID-19 Impact on Industrial Oxygen Market

Rising number of COVID-19 patients has increased the demand for oxygen. The rising demand for industrial oxygen when it changes into medical oxygen is expected to increase the market's growth rate. The outbreak of this pandemic has also increased demand in the healthcare sector which has reimbursed the negative outlook of industrial oxygen demand in other sectors. The construction industry's negative outlook also has reduced the sales of industrial oxygen in the welding and steel industries.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Development

• In April 2021, Air Liquide S.A. which is the French industrial gas giant has announced that they will supply most of its liquid oxygen to the healthcare and medical sector and plans to import supplies from the Asia-Pacific region

Global Industrial Oxygen Market Scope

The industrial oxygen market is segmented on the basis of product, usage and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product

• Compressed Oxygen Gas
• Liquefied Oxygen

Usage

• Welding
• Cutting
• Flame Cleaning,
• Steel Production
• Others

End User

• Automotive and Aerospace
• Chemical Processing
• Energy

Industrial Oxygen Market Regional Analysis/Insights

The industrial oxygen market is analysed and market size insights and trends are provided by country, product, usage and end user as referenced above.

The countries covered in the industrial oxygen market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the industrial oxygen market due to the growing number of cancer patients and increasing demand for non-medical applications such as in the field of food security.

Asia-Pacific will continue to project the highest compound annual growth rate during the forecast period of 2022-2029 due to the rising elderly population and growing healthcare expenditure in this region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Industrial Oxygen Market Share Analysis

The industrial oxygen market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to industrial oxygen market.

Some of the major players operating in the industrial oxygen market are:

• Air Liquide S.A. (France),
• HangZhou Oxygen plant group (China)
• Praxair Technology  Inc., (U.S.)
• AIR WATER INC (Japan)
• Linde Plc (Ireland),
• Messer Group (Germany
• SCG (Thailand)
• Taiyo Nippon Sanso Corporation (Japan)
• Air Products Inc. (U.S.)
• Airgas Inc, (U.S.)
• Gulf Cryo (U.A.E.)
• Yingde Gases Group (China),
• Air Products and Chemicals Inc. (U.S.)
• Universal Industrial Gases Inc, (U.S.)
• Axcel Gases (U.S.)
• International Industrial Gases Ltd (India)
• SOL Group (Italy)

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