Selbyville, Delaware,, Nov. 04, 2024 (GLOBE NEWSWIRE) -- The chemical air separation unit market is predicted to cross USD 2 billion by 2032, as reported in a research study by Global Market Insights Inc. Rising demand for industrial gases in chemical manufacturing and advancements in air separation technology will drive business growth.
ASUs are pivotal in producing high-purity industrial gases, such as oxygen, nitrogen, and argon, which are vital for a myriad of applications. The burgeoning chemical sector, spurred by a global uptick in demand for chemicals and specialty products, is amplifying the need for efficient and large-scale ASUs. This demand is especially pronounced in industrializing regions like Asia-Pacific, where chemical manufacturing is gaining momentum. As chemical firms strive to optimize their production processes and enhance product quality, the uptake of advanced air separation technologies is set to rise.
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The chemical air separation unit market is segmented by process into cryogenic and non-cryogenic categories. The cryogenic air separation unit sector is anticipated to record USD 1.2 billion by 2032. Innovations in air separation processes, particularly in cryogenic and non-cryogenic technologies, are markedly boosting the efficiency and capacity of ASUs. These technological strides ensure higher gas purity, reduced energy consumption, and adaptable operations, aligning perfectly with the chemical industry's specific demands.
The chemical air separation unit market from the gas segmentation in the market includes nitrogen, oxygen, argon, and others. Nitrogen gas is projected to grow at a rate exceeding 5% by 2032. Its role in inerting is paramount, as it mitigates explosive reactions and curtails environmental contamination risks. The heightened focus on sustainability and adherence to regulations is propelling the uptake of sophisticated ASUs in the chemical domain. Moreover, the increasing demand for nitrogen in the electronics and food processing industries is further boosting its market expansion.
Asia Pacific chemical air separation unit market, with projections indicating growth surpassing USD 800 million by 2032. The swift industrialization, urbanization, and manufacturing sector expansion in nations like China and India are driving the demand for cryogenic ASUs in the chemical realm. As these countries evolve, their chemical sector's dependence on advanced air separation technologies for diverse industrial and environmental applications is poised to escalate, further bolstering the cryogenic ASU market.
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Partial chapters of report table of contents (TOC):
Chapter 1 Methodology & Scope
1.1 Research design
1.1.1 Research approach
1.1.2 Data Collection methods
1.2 Base estimates & calculations
1.2.1 Base year calculations
1.2.2 Key trends for market estimation
1.3 Forecast model
1.4 Primary research and validation
1.4.1 Primary sources
1.4.2 Data mining sources
1.5 Market definitions
Chapter 2 Executive Summary
2.1 Industry 3600 synopsis, 2021 – 2032
Chapter 3 Chemical Air Separation Unit Market Insights
3.1 Industry ecosystem analysis
3.2 Regulatory landscape
3.3 Industry impact forces
3.3.1 Growth drivers
3.3.2 Industry pitfalls & challenges
3.4 Growth potential analysis
3.5 Porter's Analysis
3.5.1 Bargaining power of suppliers
3.5.2 Bargaining power of buyers
3.5.3 Threat of new entrants
3.5.4 Threat of substitutes
3.6 PESTEL Analysis
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Non-Cryogenic Air Separation Unit Market Size - By Gas (Nitrogen, Oxygen, Argon), End Use (Iron & Steel, Oil & Gas, Healthcare, Chemicals), Regional Outlook & Forecast, 2024 – 2032
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Air Separation Unit Market Size - By Process (Cryogenic, Non-Cryogenic), Gas (Nitrogen Oxygen, Argon), End Use (Iron & Steel, Oil & Gas, Healthcare, Chemicals) & Forecast, 2024 - 2032
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
