NEW YORK, United States, Feb. 24, 2022 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “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” in its research database.
“According to the latest research study, the demand of global Oxygen Market size & share was valued at approximately USD 49 Billion in 2020 The market is expected to grow at a compound annual growth rate (CAGR) of 7.7% and is anticipated to reach around USD 83 Billion by 2028.”
What is Oxygen? How big is the Oxygen Market?
Oxygen Market Coverage & Overview:
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.
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Our Free Sample Report Consists of the following:
- Introduction, Overview, and in-depth industry analysis are all included in the 2021 updated report.
- The COVID-19 Pandemic Outbreak Impact Analysis is included in the package
- About 207+ Pages Research Report (Including Recent Research)
- Provide detailed chapter-by-chapter guidance on Request
- Updated Regional Analysis with Graphical Representation of Size, Share, and Trends for the Year 2021
- Includes Tables and figures have been updated
- The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
- Facts and Factors research methodology
(Please note that the sample of this report has been modified to include the COVID-19 impact study prior to delivery.)
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 it 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 the 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.
Global Oxygen Market Dynamics
- Increasing car use and industrialization have resulted in increased pollution fueling the market
Pollution levels have risen dramatically as a result of rising vehicle use and industrialization. This has resulted in an increase in the demand for and production of breathing aids, fueling the market's expansion. Furthermore, the rise of industries such as agriculture, automobiles, food & drinks, construction, and medicine has resulted in an increase in global demand for oxygen. This has been a primary driving force in the growth of the global oxygen market.
Also, the diverse applications of oxygen as a catalyst and oxidizing agent in the chemical industry have aided the market in establishing a firm foothold. Another element driving the global oxygen market's expansion is the use of oxygen in mining and mineral processing. Oxygen improves the overall effectiveness of these operations, lowering production costs. Furthermore, developments in oxygen therapy and flow controlling devices have fueled the industry's expansion.
Key Insights & Findings from the report:
- As per the analysis shared by our primary respondents, the Oxygen market is expected to grow at a CAGR of around 7.7% by 2028.
- Through primary research, it was established that the Oxygen market was worth about US$ 49 billion in 2020 and is predicted to grow around US$ 83 billion by 2028.
- According to the segmentation analysis, the gaseous form of oxygen will account for more than 69% of the market share by 2028.
- The automotive industry and mining & mineral processing are predicted to use the largest, with a combined market share of over 80% by 2028.
- It is expected that the Asia-Pacific region would maintain its dominant position in the worldwide oxygen market.
- During the projected period, North America and Europe are expected to see market growth of 7.8%.
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Leading Players in the Market:
- AirLiquide
- Hangzhou Hangyang CO. LTD
- Foshan Huate
- Praxair
- Yingde Gases
- Baosteel Gases
- Air Water
- Linde Group
- MESSER
- SCGC
- Taiyo Nippon Sanso
- Air Product
- Airgas
Key questions answered in this report:
- What is the size of the oxygen market and what is its expected growth rate??
- What are the main driving factors propelling the oxygen market forward?
- What are the leading companies in the oxygen industry?
- What segments does the oxygen market cover?
- How can I receive a free copy of the oxygen market sample report and company profiles?
Key Offerings:
- Market Size, Share, Trends & Forecast by Revenue | 2021−2028
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis by Form, by Application, by End-Use, and by Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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Report Scope
| Report Attribute | Details |
| Market Size in 2020 | USD 49 Billion |
| Projected Market Size in 2028 | USD 83 Billion |
| CAGR Growth Rate | 7.7% CAGR |
| Base Year | 2020 |
| Forecast Years | 2021-2028 |
| Key Market Players | AirLiquide, Hangzhou Hangyang CO., LTD, Foshan Huate, Praxair, Yingde Gases, Baosteel Gases, Air Water, Linde Group, MESSER, SCGC, Taiyo Nippon Sanso, Air Product, Airgas, among others |
| Key Segment | By Form, By Application, By End-Use, and By Region |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
| Purchase Options | Request customized purchase options to meet your research needs. Explore purchase options |
Oxygen Market: Segmentation Analysis
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.
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Regional Dominance:
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.
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
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