PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1493154
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1493154
Europe Air Separation Plant Market is valued approximately USD 1.10 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 2.70% 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. Moreover, in addition to large-scale production facilities, there is a growing interest in small-scale air separation plants, particularly in niche applications and remote locations. These modular and decentralized plants offer flexibility, scalability, and quicker deployment, catering to the evolving needs of various industries.
Moreover, the healthcare sector in Europe requires medical gases like oxygen and nitrogen for respiratory therapies, surgeries, and other medical procedures. With the aging population and advancements in medical technology, the demand for these gases is increasing, thereby boosting the need for air separation plants. Additionally, other factors support the market growth are growing demand for the industrial gases, expansion of oil & gas industry, rising demand from iron & steel industry, increasing industrial activities, and rising demand from manufacturing industry.
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 Europe Air Separation Plant market study includes UK, Germany, France, Italy, Spain, and Rest of Europe. In 2023, Germany was the largest market in terms of revenue. The Air Separation Plant market in Germany is driven by the growing Demand for specialty gases, cohesive government initiatives and incentives, growing healthcare infrastructure, and growing industrialization. In May 2022, PKN Orlen, a Polish company, has committed to investing in an air separation unit dedicated to the production of oxygen and nitrogen at the Plock refinery in Germany. This initiative, with an estimated cost of USD 172 million, is being undertaken in collaboration with Linde Group. The project aims to commence operations by early 2025. As a result, the investment by PKN Orlen in collaboration with Linde Group in an air separation unit at the Plock refinery in Germany serves as a significant catalyst for the growth of the Air Separation Plant market, both locally and regionally.