High Purity Oxygen Market Forecast, Trend, Analysis & Competition Tracking - Global Market Insights 2020 to 2030

Published on : Oct-2020 | List of Tables : 62 | List of Figures : 129 | No. of Pages : 170 | Report Code : FACT619MR |

Global High Purity Oxygen Market Overview

The global high purity oxygen market is expected to foray ahead on a positive growth trajectory, at a CAGR of 6% across the forecast period (2020-2030). Growth is attributed to increasing demand for high purity oxygen for a range of end uses, including, but not limited to, the steel industry, metal fabrication, welding, healthcare, chemicals, and paper. The steel industry has driven the consumption of high purity oxygen during the historical period, and is poised to lead demand over the forecast period too, accounting for near half of the global market share by 2030. Apart from steel industry, high purity oxygen is highly utilized to manufacture other metals, especially copper and lead. These factors are set to drive the expansion of the global high purity oxygen market size, allowing it surpass a market valuation US$ 44 Bn by 2030.

High Purity Oxygen Market End Use Insights

Over three-fourth of the steel is produced through blast oxygen furnaces, and continuous increasing adoption of similar production methods across numerous countries is set to bolster demand for high purity oxygen throughout the assessment period. Currently, the steel industry is the largest consumer of high purity oxygen, and is poised to drive global demand over the coming years. High purity oxygen is gaining traction in a range of niche applications such as optical fiber production, pharmaceuticals, petroleum, and wastewater treatment plants.

Along with the aforementioned applications, high purity oxygen is finding its way in research and analytical galaxies. Further, growing demand for high purity oxygen from the semiconductor industry for the formation of silicon dioxide and metal oxide, as an etchant for photoresist, and in mixtures with hydrocarbons for etching silicon, is projected to create lucrative avenues for suppliers in the high purity oxygen market space.

Regional Outlook of High Purity Oxygen Market

Currently, China is the largest steel producer in the world, and over three-fourth of regional steel is produced through the blast oxygen furnace method. In result, China is identified as a leading consumer in the high purity oxygen market, accounting for over one-third of global consumption. The scenario is projected to continue, owing to increasing steel production and increasing investments by steel manufacturers in the region. At present, China leads a plethora of markets, including, but not limited, to automotive, consumer electronics, chemicals, plastic, and steel. Continuous advancements in the aircraft & transportation industry, semiconductor industry, electric vehicle industry, and steel industry are set to drive the high purity oxygen market in China over the assessment period.

After China, East Asia is home to two developed countries - Japan and South Korea. Together, these countries accounted for near 10% of global steel production in 2019. In these regions, over two-third of the steel is produced through the blast oxygen furnace method. As such, the East Asia high purity oxygen market is poised to expand at a decent CAGR of 6% over the forecast period.

high purity oxygen market competition landscape

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High Purity Oxygen Market Manufacturers

The global high purity oxygen market is highly consolidated in nature, where the top players currently account for over two-third of global sales. Currently, Linde AG, Air Liquide, and Air Products and Chemicals Inc. are prominent suppliers of high purity oxygen. These market goliaths are poised to maintain their dominance throughout the assessment period, on the back of numerous organic and inorganic strategies. For instance, in 2018, The Linde Group merged with Praxair, Inc. As a result, Linde has become the world’s single biggest player in the industrial gases business. In 2019, Air Liquide singed a long-term agreement with Gulf Coast Growth Ventures, and to support this agreement, Air Liquide will build a new air separation unit to produce 2 kilo tons of oxygen per day.

high purity oxygen market regional share

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COVID-19 Impact on High Purity Oxygen Market

The spread of coronavirus has contracted the global economy with a great recession looming. Nearly all countries have imposed lockdowns and strict social distancing measures. This forced the shutting down of almost all production plants across the globe. As per the new normal, most people are working from their homes, which has declined fuel consumption drastically in the last few months. The scenario is projected to continue till a significant cure is found by researchers.

Europe and North America are two prominent consumers in high purity oxygen market, together accounting for nearly one-third of global demand in 2019. Along with leading high purity oxygen consumers, these are the most affected regions by the COVID-19 outbreak, and account for over half of global fatalities. The bad situation in these regions has impacted the global high purity oxygen market, which is however poised to recover from the fourth quarter of 2020 owing to easing of lockdowns and restrictions.

The Analyst’s Viewpoint

“For sustaining high profit margins in this competitive market, manufacturers in the high purity oxygen market are setting up widespread gas pipeline networks, which is poised to emerge as the choice of supply method among suppliers and consumers.”

High Purity Oxygen Market: About the Report

Fact.MR published an exclusive forecast report on the high purity oxygen market for 2020 and 2030. The foremost objective of this report on the high purity oxygen market is to pitch spearhead insights on the market scenario, demand generators, and technological advancements in the high purity oxygen market. Also, the study on the high purity oxygen market addresses key dynamics that are expected to diversify the sales and future prominence of the high purity oxygen market.                 

The report on the high purity oxygen market begins with an executive overview, in which, product definition has been provided. The report further proceeds with the taxonomy of the high purity oxygen market, elaborating on key segments. Also, the report outlines visionary insights on the dynamics of the high purity oxygen market, including the drivers, restraints, opportunities, trends, and pricing analysis, along with the key buying factors for high purity oxygen. Supply chain analysis and pricing analysis of the high purity oxygen market along with the difference between high purity oxygen used as per application have also been included in the report, to help readers clearly understand the product framework map in the high purity oxygen market.

High Purity Oxygen Market - Scope of the Report

The high purity oxygen market study done by Fact.MR gives exclusive information about how the market will grow during the forecast period of 2020 – 2030. The study identifies crucial trends that are determining the growth of the high purity oxygen market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply of high purity oxygen. The report primarily conveys a summary of the market, considering present and upcoming global steel, automotive, electronics, and chemical industry developments, to reveal striking sides relating to the adoption of high purity oxygen across prominent regional markets.

A detailed assessment of the market supply chain analysis, business execution, and value chain analysis across regional markets has been provided in the report. A list of prominent companies operating in the high purity oxygen market enhances the reliability of this comprehensive research study.

High Purity Oxygen Market: Report Summary

The study offers an inclusive analysis on diverse features, including demand, revenue generation, and sales by key players in the high purity oxygen market across the globe. A comprehensive study on the market has been done through optimistic and conservative scenarios. The analysis and estimation of price point comparison by region with the global average price has been included in this study.

High Purity Oxygen Market: Segmentation

Fact.MR has segmented the high purity oxygen market on the basis of grade, supply, end use, and region.

Grade

Supply

End Use

Region

 Industrial Grade

Medical Grade

Electronic Grade

 Others

 Onsite & Pipeline

Merchant & Bulk

Packaged

 Metal Production & Fabrication

Chemicals & Refinery

Medical & Healthcare

 Electronics

Glass & Ceramics 

Pulp & Paper 

Others

 North America

Latin America

 Europe

East Asia

South Asia & Oceania

Middle East & Africa

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High Purity Oxygen Market: Analysis on Market Size Evaluation

Existing predictions of the high purity oxygen market, encompassing current as well as forthcoming values estimates, analysis on region-wise demand trends, and price index have been assimilated in the report.

Market estimations at the regional and global scale of high purity oxygen is available in terms of value (US$ Mn) and in terms volume (Tons). A Y-o-Y growth contrast of prominent high purity oxygen market segments, along with market attractiveness valuation computes have been incorporated in the report. Metrics mentioned above are also based on high purity oxygen types, where high purity oxygen witnesses steady demand.

High Purity Oxygen Market: Scrutinized Assessment on Regional Segments

Weighted sections have been elaborated in the report on the high purity oxygen market, which deliver projections on regional markets. These chapters highlight regional macros (political economic and business environment outlook), which are expected to have a momentous influence on the growth of the high purity oxygen market during the forecast period.

Country-specific valuation on the demand for high purity oxygen has been offered for each regional market, along with market scope estimates and forecasts, price index, price point assessment, and impact analysis of dynamics in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.

High Purity Oxygen Market: In-depth Analysis on Competitive Landscape

The report offers the competitive scenario of the high purity oxygen market, along with the profiles of prominent companies contributing to market expansion. Essential and up-to-date data as well as information correlated to market performers who are principally engaged in the production and supply of high purity oxygen has been presented with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits readers to take preemptive steps in advancing their businesses.

Company profiles have been combined in the report, which exert essentials such as form portfolio, along with all-inclusive SWOT analysis on each player. Company presence is mapped and presented through a matrix for all prominent players functioning in the high purity oxygen market. It offers actionable insights to readers, which helps in thoughtfully presenting market status, and predicting the competition levels in the high purity oxygen market. Prominent companies operating in the global high purity oxygen market include Air Liquide, Air Products and Chemicals, Inc., Air Water Inc., Iwatani Corporation, and Linde PLC.

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High Purity Oxygen Market Forecast, Trend, Analysis & Competition Tracking - Global Market Insights 2020 to 2030