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Description
The global air separation plant market size valued at USD 5.06 billion in 2020 and expected to reach USD 7.68 billion by 2026, witness a CAGR of 5.34% during forecast period 2021-2026. Air separation plants are used for the production of different atmospheric industrial gases like argon, oxygen, nitrogen and other rate gases. Such separation plants are broadly used in small to large scale plants for the production of gases as well as other liquid products. A few of the air separation plants produce xenon, neon, oxygen and compressed dry air. The air segmentation plant is growing rapidly as there is a great demand for high purity products in different industries like steel, chemical and medical. Global air separation plant market is expanding greatly with several product quality as well as environment prevention rules combining together for increasing the scope of use of pure air-based gases around many industries. There are many industries continue to use huge volumes of pure oxygen as well as other air gases over ambient air for reducing pollution and stick to clean initiatives. The gas and oil industry becomes the key consumer of pure air gases leading towards the overall growth of the global air separation plants market. Such end-use segment is anticipated to offer huge growth opportunities in upcoming years particularly in the region like North America. The booming food industry around the globe is becoming a key consumer of food-grade air gases like oxygen, nitrogen, carbon and dioxide for use around several application areas. Because of the fast increase in demand for pure air gases, several growth opportunities will be provided by the air separation plants market. There are several new key players entering into this market. air separation plants are usually considered to be the feasible means of recovering rare gases needed in the industries.
