COVID-19 Impact on the Industrial Oxygen Market Supply Chain: In-Depth Analysis by 2028
Industrial Oxygen Market: Overview
Industrial oxygen has been used in wide spectrum of applications such as in food, metal making, medical, and pharmaceutical sectors. It has also been used in pulp manufacturing. A range of technologies are used in these application to meet the objective of generating high-purity oxygen. These include cryogenic separation, pressure swing adsorption, membrane technology. Players in the market are leaning on improving these technologies to meet the demanding requirements in nuclear reactors, optical fiber, and semiconductor manufacturing. The consumption of industrial oxygen in the glass industry has also large part of demand. The key application areas are in combustion, oxidation, and fermentation.
Rise in demand for medical-grade oxygen cylinders in the healthcare sector is new avenue for capitalization for suppliers of industrial oxygen. The two main forms of industrial oxygen are compressed oxygen and refrigerated liquid.
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Industrial Oxygen Market: Competitive Analysis and Key Developments
In recent months, ensuring proper and ample supply of oxygen is crucial around the world to manage the rapidly rising epidemic of the novel coronavirus. Industrial oxygen manufacturers and sellers are required to gird up their loins to provide the gas for meeting the temporary needs of medical oxygen. The Government of India has been actively involved in setting the right regulatory framework for this provisioning, which will crucial for reducing the hospitalization stays due to the patients with coronavirus infections.
The Directorate General of Health Services in view of supporting the proposal by All India Industrial Gases Manufacturer’s Association (AIIGMA) has asked all manufacturers of industrial oxygen in India to sell the gas once their license gets approved. This is a much needed step that is expected to help the healthcare system of the country to combat the coronavirus infection morbidity and mortality.
It is expected that such developments will nudge governments in other nations to urgently frame norms in improving the availability of oxygen. This might offer a big force in increasing the momentum for the growth of the industrial oxygen market.
The names of top players include Southern Industrial Gas Berhad, Taiyo Nippon Sanso, Praxair, Messer Group, Linde Ag, Air Liquide, and Gulf Cryo.
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Industrial Oxygen Market: Key Trends
The demand in the industrial oxygen market has prospered due to its use in wide range of applications. Of these, use of oxygen in metalworking industry and municipal solid waste gasification has fueled the expansion. In developing nations, a number of steel manufacturers have collaborated with manufacturers and sellers of industrial oxygen to ensure a steady supply. Several end-use industries have tried to reduce or fill the gap between the supply and demand for oxygen. This has strengthened the prospects of the industrial oxygen market.
Advances in the chemistry of production of oxygen have also boosted the market. In addition, strides made by nuclear industry have also bolstered the demand for oxygen. In developing regions of the world, demand in the industrial oxygen has thrived due to the rising application of industrial oxygen in semiconductor manufacturing.
Industrial Oxygen Market: Regional Analysis
The report offers an assessment of the prevailing and emerging opportunities for sellers and manufacturers of oxygen in key regional markets. Some of the regions that contribute promising revenue streams are North America, Europe, Latin America, the Middle East, Africa, and Asia Pacific. North America has been lucrative market, with demand fueled by substantial uptake of high-purity industrial oxygen in all industries.
Meanwhile, Asia Pacific economies are expected to offer sizable revenue shares to the global industrial oxygen market in the next few years. The growth will come from developing countries. Europe is also expected to be a promising market.
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