The global Oxygen Market size was significantly robust in 2021 and is expected to register a rapid revenue CAGR over the forecast period. Increasing use of oxygen in the metallurgical industry, such as in steel making due to its carbon content reducing properties and its adoption in the medical sector relating to life support and neonatal care are major factors driving market revenue growth.
Oxygen (O2) is a highly reactive and flammable gas, which is regarded as the most abundant element on Earth. It is produced commercially by fractional distillation of air, where it gets distilled out in the gaseous state. Electrolysis of water is also implemented to produce it, wherein water is split into two gases, hydrogen and O2. Steel smelting is a major application of product since it removes excess carbon content from pig iron. Being highly flammable substance, flames prepared from its compounds are used for welding in the construction industry. Moreover, plastic production involves use of this material in monomer formations whereas the paper industry requires it as a bleaching agent. Furthermore, petrochemical plants utilize it to reduce sulfur vapor emission, due to stringent emission norms.
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The report offers details about financial standing, global positional, license agreement, business expansion plans and product portfolios of each player operating in the market. The global Oxygen market is extremely competitive and comprise various key players operating at global and regional levels. These players are adopting various strategies such as mergers and acquisitions, collaborations, joint ventures, partnerships, RD investments and new product launches to gain robust footing in the market and expand their product portfolio.
Key Companies in the market include: Air Liquide S.A. (France), The Messer Group GmbH (Germany), Praxair Inc. (U.S.), Airgas Inc. (U.S.), The Linde Group (Ireland), Nippon Sanso Holdings Corporation (Japan), Shanghai Baosteel Gases Ltd. (China), Foshan Huate Gas Co., Ltd. (China), Yingde Gases Group Company (China), Guangdong Huate Gas Co. (China)
The materials and chemicals industry revenue has rapidly expanded over the recent past. The global Oxygen market is expected to register robust revenue growth during the forecast period, 2021-2028. Revenue growth of the global market is significantly driven by factors such as high demand for raw materials and chemicals across various sectors including food and beverages, paper pulp, chemicals and medical, biotechnology and pharmaceutical and rapid urbanization and industrial developments worldwide. In addition, increasing per capita income, rising investments by public and private organizations and rising demand for eco-friendly and sustainable products due to rising awareness about carbon emissions are expected to boost global market growth during the forecast period.
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Type (Revenue, USD Million; 2019-2030)
- Medical Oxygen
- Industrial Oxygen
Application/ End Use Outlook (Revenue, USD Million; 2019-2030)
- Metallurgical Industry
- Chemical Industry
Key Regional Markets Covered in the Report:
North America (U.S.A., Canada, Mexico)
Europe (Italy, U.K., Germany, France, Rest of Europe)
Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
Key questions covered in the global Oxygen market report:
- What is the expected market size of the global Oxygen market during the forecast period?
- What factors are expected to hamper global Oxygen market growth over the forecast period?
- Which application segment is expected to dominate other application segments over the forecast period?
- Which region is expected to dominate in terms of revenue during the forecast period?
- What are the key outcomes of Porter’s Five Forces analysis and SWOT analysis?
- Which leading players are operating in the global Oxygen market?
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