Global Industrial Oxygen Market Will Reach US$ 158.02 Billion By 2033 with a CAGR of 8.4% | Report by Future Market Insights, Inc.

The industrial oxygen market is predicted to experience a robust CAGR of 8.4% between 2023 and 2033, resulting in a significant increase in global sales. Starting at a value of US$ 70.54 billion in 2023, the market is expected to reach US$ 158.02 billion by 2033. Industrial oxygen finds extensive usage across various sectors such as medical, food, metal production, pharmaceuticals, and even in the manufacturing of pulp. The glass and cosmetic industries represent a significant market segment for industrial oxygen. Thus, an upsurge in the usage of industrial oxygen in these sectors will foster growth for the industrial oxygen market in the upcoming years.  

High-purity oxygen is typically generated using various technologies, including cryogenic separation, pressure swing adsorption, and membrane technology. The principal areas of application for industrial oxygen include oxidation, combustion, and fermentation. The rise in these applications of industrial oxygen in end-users such as metalworking and welding, healthcare, chemistry, construction, and metallurgy, including the steel and iron industries will drive the global sales of the market. The high demand for industrial oxygen, due to its widespread use as an oxidizing agent for the production of various chemicals, in the chemical sector will also aid the market expansion. Furthermore, the increasing demand for purified industrial oxygen in the healthcare and medical sector is expected to drive the revenue growth of the industrial oxygen market. 

Drivers and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report: https://www.futuremarketinsights.com/reports/sample/rep-gb-10071

Several industrial oxygen manufacturers are adopting IoT technologies to connect smart devices and equipment, allowing real-time insights and identification of gaps in the manufacturing process. Data obtained from these devices are analyzed, processed, and interpreted by senior-level management and plant managers to achieve optimum production levels and improve quality. For example, smart systems embedded with analytics tools and software provide information on chemical reactor performance, alerting plant managers and operators to potential machine breakdowns. Other factors like increasing demand for industrial oxygen from the water treatment and construction industries will also drive the growth of the industrial oxygen market. However, the rising concern for the environment and the need for high-end equipment are certain factors that may deter the growth of the industrial oxygen market.

Key Takeaways: 

• The total sales of industrial oxygen in North America will reach a value of US$ 4.8 billion with the US registering an 8.9% year-on-year growth rate. 
• Expansion of aerospace, steel and iron, chemical, and automotive industries in Germany will bolster the demand for industrial oxygen in the country. 
• Based on product type, the liquefied oxygen segment will dominate the market with ownership of over 55% of the market share. 
• By end-user, the construction and metallurgy sectors will present impressive growth and create numerous opportunities for the market. 

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Competitive Landscape  

Leading market players are keen on expanding their production capacities by establishing facilities in emerging economies. Strategic mergers, acquisitions, partnerships, and collaborations are also employed by these businesses to enhance their market position. For instance, in September 2018, Air Liquide, an international energy and chemicals company, established the largest oxygen production unit in the world in Sasol.  

Air Liquide, Linde A.G., and Praxair Inc., among others, are some of the major players in the industrial oxygen market profiled in the full version of the report. 

Key Segments

By Product Type:

• Compressed Oxygen Gas
• Liquefied Oxygen

By End Use:

• Automotive & Aerospace
• Chemical Processing
• Energy

By Region:

• North America
• Latin America
• Europe
• Asia Pacific (APAC)
• Middle East & Africa (MEA)

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More Insights Into Industrial Oxygen Market  

In its latest report, FMI offers an unbiased analysis of the global industrial oxygen market, providing historical data from 2017 to 2022 and forecast statistics for 2023 to 2033. This report delivers a comprehensive study of market drivers, challenges, trends, and opportunities. To understand the global market potential, growth, and scope, the market is segmented on the basis of product type,  end-use, and region. 

According to FMI predictions, based on segmentation, the liquefied oxygen segment will witness heightened demand. This segment will hold over 55% of the overall market share owing to expansive usage across the medical, construction, and metallurgy sectors. In terms of end-users, the constriction and metallurgy segment will emerge as a highly opportunistic category for the industrial oxygen market. Based on region, North America will exhibit significant growth in this market with the US leading the market. The industrial oxygen market in the US will be driven by advancing end-use industries like healthcare, chemicals, construction, and metallurgy. Other countries like Germany, China, and India will also present substantial growth in the market and thereby contribute to the industrial oxygen market. 

Table of Content

1. Executive Summary | Industrial Oxygen Market
    1.1. Global Market Outlook
    1.2. Demand-side Trends
    1.3. Supply-side Trends
    1.4. Technology Roadmap Analysis
    1.5. Analysis and Recommendations

2. Market Overview
    2.1. Market Coverage/Taxonomy
    2.2. Market Definition/Scope/Limitations

3. Market Background
    3.1. Market Dynamics
        3.1.1. Drivers
        3.1.2. Restraints
        3.1.3. Opportunity
        3.1.4. Trends
    3.2. Scenario Forecast (TOC Continue...)

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