High Purity Oxygen Market to Surpass US$ 44.5 Bn Driven by High Demand for Metal Production & Fabrication

The high purity oxygen report published by Fact.MR delves into major observations concerning prominent expansion parameters prevailing across key segments for the upcoming decade. The report also delves on information regarding major growth driver, trends and opportunities across leading segments including grade, supply, and end-use across seven regions.

NEW YORK, Dec. 6, 2021 /PRNewswire/ -- Fact.MR – A Market Research and Competitive Intelligence Provider: As per Fact.MR, the global high purity oxygen market is poised to expand at a healthy 6% CAGR over the forecast period of 2020 and 2030. Increasing applications of high purity oxygen across steel, medical, paper, and chemical industries will drive the sales.

High purity oxygen is extensively used in steel industry, for metal fabrication, welding, and others. With such increasing applications in diverse end-use sectors, the high purity oxygen market is expected to hold over 1/3^rd of the global industrial market.

As per Fact.MR, as high purity oxygen has low melting and boiling points and have excellent stability in room temperature, it is heavily used in healthcare and steel industries. Due to its aforementioned properties, over 3/4^th of steel is produced using high purity oxygen.

Apart from steel industry, the chemical industry is the second-largest end-use industry experiencing high growth in high purity oxygen market. Countries such as India, the U.S., Germany, and Belgium are adopting pipeline networks, boosting the growth in the market.

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Regionally, East Asia is expected to dominate the global high purity oxygen market. While China is projected to lead the market, South Korea and Japan are expected to, collectively, accounted for 10% of steel production, increasing the sales at 6% CAGR.

"Key players in the global high purity oxygen market are collaborating with chemical and steel industry manufacturers, setting up widespread gas pipeline networks across India, China, Japan, and South Korea. This is expected to create growth opportunities for the market players, especially across Asia Pacific," says a Fact.MR analyst.

Key Takeaways:

• In terms of grade, industrial grade segment is expected to account for over 3/4^th of global market share
• Based on supply, onsite & pipeline segment is expected to expand at over 5% CAGR over the forecast period
• Sales of high purity oxygen in medical and healthcare segment is expected to create an absolute $ opportunity of US$ 2 Bn by 2030
• China is expected to spearhead the growth of East Asia high purity oxygen market on the back of increasing applications in chemical industry
• The U.S. is expected to dominate the North America high purity oxygen market with rising expansion of its healthcare industry

Growth Drivers:

• Increasing application of high purity oxygen in medical and chemical industry will propel the sales over the forecast period
• Expansion of steel industry across China, Japan, and South Korea is expected to create incremental growth prospects for market players over the coming years

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Competitive Landscape

As per Fact.MR, the global high purity oxygen market is expected to be consolidated in nature. Tier-1 players are expected to dominate the global market, accounting for nearly 60%-70% of the market share.

These leading players are aiming for organic and inorganic strategies such as mergers, acquisitions, and product development to gain competitive edge in the industry. For instance,

• In June 2020, Peak Gas Generation, leading brand of Peak Scientific and global leader in on-site gas generation for manufacturing and processing industries, announced the launch of its very first oxygen gas generator, the i-Flow O2, to add to its already successful i-Flow range of nitrogen gas generators.

Key Players in the High Purity Oxygen Market Include:

• SOL Spa
• Taiyo Nippon Sanso Corporation
• Messer Group GmbH
• Yingde Gases Group
• Iwatani Corporation
• Linde PLC
• Air Liquide
• Air Products and Chemicals Inc.
• Others

More Valuable Insights on High Purity Oxygen Market

Fact.MR provides an unbiased analysis of the high purity oxygen market, presenting historical demand data (2014-2019) and forecast statistics for the period from 2020-2030. The study divulges compelling insights on the global high purity oxygen market with a detailed segmentation on the basis of:

Grade:

• Industrial Grade
• Medical Grade
• Electronic Grade
• Others

Supply:

• Onsite & Pipeline
• Merchant & Bulk
• Packaged

End-Use:

• Metal Production & Fabrication
• Chemicals & Refinery
• Medical & Healthcare
• Electronics
• Glass & Ceramics
• Pulp & Paper
• Others

Regions:

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• MEA

Key Questions Covered in High Purity Oxygen Market Report

• The report offers insight into the high purity oxygen market demand outlook for 2020-2030.
• The market study also highlights projected sales growth for high purity oxygen market between 2020 and 2030.
• High purity oxygen market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry.
• High purity oxygen market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others.

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