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Released March 13, 2024 | NEW DELHI
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Researched by Industrial Info Resources (Sugar Land, Texas)--Amid continuous industrial advancement worldwide, the demand for industrial gases across various industries is witnessing an upsurge. Owing to the essential role that air separation units (ASUs) play in facilitating industrial gases in various industrial processes, the air separation unit market continues to experience steady growth globally.
ASUs are used to separate atmospheric air into its key components, primarily nitrogen, oxygen and argon. These high-purity gases find their applications in industries like chemical and petrochemicals, metals, electronics, food and beverage, and healthcare.
Industrial Info is tracking more than 443 active capital spending projects with investments worth US$17 billion geared toward ASUs. Approximately 71% of the total spending is aimed at unit addition projects while 26% is aimed at grassroot projects. Subscribers to Industrial Info's Global Market Intelligence (GMI) Chemical Processing Project Database can click here for a list of detailed project reports.
Approximately 40% of the global spending is in the planning phase, 30% has progressed to the engineering phase and the remaining 30% is undergoing construction.
Asia holds the largest share in ASUs with investments worth US$15 billion, contributing 89% to the global ASU market. Within the Asian region, China and Iran are the top spending drivers with investments totaling US$13 billion.
Owing to its rapid industrialization and expanding manufacturing base, China dominates the global ASU market with investments nearing US$10 billion across more than 150 projects, and is focusing about 80% of the spending on unit addition projects.
Iran is driving more than US$2 billion worth of investments, mainly fueled by its vast oil refining and petrochemical sector as well as large copper industry that require ASUs to provide high purity oxygen for their industrial processes.
After Asia, North America and Europe emerge as notable investors in ASUs with about US$1 billion and US$847 million, respectively.
SATA Investment Company, Ningxia Baofeng Energy Group Company Incorporated, Linde PLC and Air Liquide SA are the key players in the ASU market.
China's Ningxia Baofeng Energy Group Company Incorporated is spending US$969 million for an ASU addition project to produce oxygen in Ordos, China. Subscribers can click here for the project report and click here for the plant profile.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 Trillion (USD).
ASUs are used to separate atmospheric air into its key components, primarily nitrogen, oxygen and argon. These high-purity gases find their applications in industries like chemical and petrochemicals, metals, electronics, food and beverage, and healthcare.
Industrial Info is tracking more than 443 active capital spending projects with investments worth US$17 billion geared toward ASUs. Approximately 71% of the total spending is aimed at unit addition projects while 26% is aimed at grassroot projects. Subscribers to Industrial Info's Global Market Intelligence (GMI) Chemical Processing Project Database can click here for a list of detailed project reports.
Approximately 40% of the global spending is in the planning phase, 30% has progressed to the engineering phase and the remaining 30% is undergoing construction.
Asia holds the largest share in ASUs with investments worth US$15 billion, contributing 89% to the global ASU market. Within the Asian region, China and Iran are the top spending drivers with investments totaling US$13 billion.
Owing to its rapid industrialization and expanding manufacturing base, China dominates the global ASU market with investments nearing US$10 billion across more than 150 projects, and is focusing about 80% of the spending on unit addition projects.
Iran is driving more than US$2 billion worth of investments, mainly fueled by its vast oil refining and petrochemical sector as well as large copper industry that require ASUs to provide high purity oxygen for their industrial processes.
After Asia, North America and Europe emerge as notable investors in ASUs with about US$1 billion and US$847 million, respectively.
SATA Investment Company, Ningxia Baofeng Energy Group Company Incorporated, Linde PLC and Air Liquide SA are the key players in the ASU market.
China's Ningxia Baofeng Energy Group Company Incorporated is spending US$969 million for an ASU addition project to produce oxygen in Ordos, China. Subscribers can click here for the project report and click here for the plant profile.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 Trillion (USD).
