Industrial Oxygen Market Size and Future Prospects (2024-2032) | Linde Group, Air Liquide, Praxair, Air Products and Chemicals

Global Industrial Oxygen Market presents a variety of new trends that have a significant impact on market growth dynamics as well as the most recent industry knowledge. According to the most recent projection, global growth will reach its lowest point this year at 2.8% before edging up to 3.0% in 2024. Although more slowly than expected, the rate of global inflation will drop from 8.7% in 2022 to 7.0% this year and 4.9% by 2024. Notably, growth rates for emerging markets and developing economies have increased significantly in many cases, from 2.8 percent in 2022 to 4.5% this year.

The global industrial oxygen market size was US$ 10.1 billion in 2021. The global industrial oxygen market is forecast to grow to US$ 19.9 billion by 2030 by registering a compound annual growth rate (CAGR) of 8.1% during the forecast period from 2022 to 2030. 

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Air separation techniques are used to create industrial oxygen. The oxygen wand’s usage is mostly dependent on its ability to oxidize and support life. Industrial oxygen finds applications in food and medical industry, which come in various purity levels. They can enhance product quality, making industrial processes safer and more profitable.

Factors Influencing the Market
Expansion of end-use sectors, such as food, healthcare, chemistry, metalworking, and construction, will primarily drive the demand for industrial oxygen during the forecast period. The global industrial oxygen market may also witness ample growth opportunities due to its rising applications.
Growing healthcare expenditure and private and government spending will also contribute to the growth of the industrial oxygen market during the forecast period.
Changing lifestyles of people are driving the demand for processed food. Apart from that, the global food & beverage industry is gaining significant traction due to several factors, such as rising disposable income, growing global population, etc. Thus, it will offer lucrative growth opportunities for the industrial oxygen market during the study period.
Growing technological advancements will also bring untapped growth opportunities for the industrial oxygen market. For instance, Eaton introduced its new technology for China’s expanding electric vehicle sector in 2019. On the flip side, rising environmental concerns associated with industrial oxygen may restrict the market growth during the forecast period.

COVID-19 Impact Analysis
The COVID-19 pandemic significantly upsurged the demand for industrial oxygen. The COVID-19 infection directly affects the respiratory system. Most of the patients were admitted to the hospitals due to rising oxygen needs. As a result, the industrial oxygen industry witnessed a significant boom in the demand from the healthcare sector.

Regional Analysis
Based on regional analysis, the industrial oxygen market is forecast to record heavy growth in Asia-Pacific. The rise of the industrial oxygen market in the Asia-Pacific region is aided by the expansion of consumer industries in developing nations like India, China, South Korea, and other Asian nations. The Food and Agriculture Organization of the United Nations reports that China is the world’s greatest producer of nitrogen, with annual use of 44.97 million tons; India comes in second. Thus, the data depicts the future potential of the Asia-Pacific industrial oxygen market during the forecast period.

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Competitors in the Market
• Linde Group
• Air Liquide
• Praxair
• Air Products and Chemicals
• Taiyo Nippon Sanso
• Air Water
• Messer
• Yingde Gases
• SOL
• Norco
• Other Prominent Players

The report furnishes an intricate comprehension of each segment, delivering potential estimations for principal applications and insights into emerging prospects. Every regional market is meticulously scrutinized to ascertain its potential for growth, development, and demand in the forthcoming years.

As of the end of 2022, the Industrial Oxygen industry experienced notable growth in its workforce. Starting in January, employment within the Industrial Oxygen sector exceeded its pre-COVID levels, resulting in an expansion of payrolls by over 15,000 employees throughout the course of the year. The global Industrial Oxygen output demonstrated a remarkable increase of 5.2% during 2021, primarily attributed to a widespread economic upswing and a surge in demand for commodities. However, the momentum shifted in 2022, with the global industrial sector’s production contracting. This reversal followed a robust expansion in 2021, fueled by altered consumer spending patterns and substantial fiscal support.

Forecasts indicate that the global Industrial Oxygen output is set to rise by approximately 2.9% in 2023. This projection is underpinned by the gradual recovery of production in Western Europe from its previous troughs, as well as a rebound in output across the Asia/Pacific region. Maintaining its dominant position, China, accounting for nearly 45% of the global Industrial Oxygen market, remains both its largest producer and consumer. Remarkably, China’s market share has surged since 2010, when it stood at around 26%. This ascent has led to a substantial contribution to the nation’s GDP. Notably excelling as a top exporter, China leads in various sectors, including silicon, PVC, and several specific segments of the Industrial Oxygen market.

Market Segmentation
The global industrial oxygen market segmentation focuses on Product, Application, End-Use, and Region.
By Product
• Oxygen
• Refrigerated Liquid
• Nitrogen

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By Application
• Combustion
• Oxidation
• Ferment
By End-Use Industries
• Chemical
• Metal
• Cement
• Glass
• Pharmaceutical
• Water Treatment
• Others
By Region
● North America
o The U.S.
o Canada
o Mexico
● Europe
 Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
 Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
● Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
● Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
● South America
o Brazil
o Argentina
o Rest of South America

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Table of Contents:

Chapter 1: Introduction to the Global Industrial Oxygen Industry

Chapter 3: Dynamics of the Market

Chapter 4: Profiles of Leading Companies

Chapter 5: Competition in the Global Industrial Oxygen Market among Players

Chapter 6: Market Size across Global Regions

Chapter 7: Application Segments in the Global Market

Chapter 8: Segment Analysis of the Global Industrial Oxygen Industry

Chapter 9: Market Chain, Sourcing Strategies, and Downstream Buyers

Chapter 10: Strategies and Key Policies by Distributors/Suppliers/Traders

Chapter 11: In-depth Analysis of Key Marketing Strategies by Market Vendors

Chapter 12: Evaluation of Market Impact Factors

Chapter 13: Forecasted Global Industrial Oxygen Market Size (2024-2032)

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• In-depth Market Analysis: By scrutinizing regional market trends and drivers, the report provides a comprehensive understanding of the market landscape. It also highlights factors that might impede growth, allowing for informed decision-making.
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Key Questions Market Research and Analysis Report

• What is the current market size, both in terms of value and volume?
• What is the historical growth rate of the market, and what are the projected growth rates for the future?
• Who are the major players in the market, and what is their market share?
• What are the market trends and dynamics influencing the industry?
• What are the key drivers of market growth?
• What are the challenges and barriers faced by market participants?
• What are the emerging opportunities in the market?
• What is the competitive landscape of the market?
• What are the consumer preferences, behaviors, and buying patterns within the market?
• What is the market segmentation, and how are different market segments performing?
• What are the pricing trends and strategies in the market?
• What are the distribution channels and their effectiveness in reaching the target audience?
• What are the regulatory and legal factors impacting the market?

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