Global Industrial Oxygen market will reach 68200 million US$ by the end of 2025
Published Date: 2019/8/15
Industrial oxygen is produced by air separation processes. The application of oxygen stem is mainly on its oxidizing and life-sustaining properties.
Industrial gases are used in a variety of purity grades and for a wide range of purposes, including food gases and medical gases. Industrial gases can make production processes safer and more cost-effective and improve product quality. They often contribute to environmental protection. Some processes and applications would even be inconceivable without the chemical properties of gases. Oxygen is one of the most widely used gases. Among various application, steel industry accounts for the largest consumption share of industrial oxygen, which was 47.56%.
According to its production process, industrial gases can be dived into atmospheric gases and process gases. For atmospheric gases, the raw material is air and the key production unit is air separation plant. Oxygen is mainly produced via air separation plant. When considering the industry oxygen supply mode, three modes are preferred: on-site, bulk/merchant and packaged/cylinder. Each supply mode has its own characteristics and all of industrial gases manufacturers operate their gas business under the three modes. Globally, on-site type oxygen accounts for about 50%
Global Industrial Oxygen market size will increase to 68200 Million US$ by 2025, from 43100 Million US$ in 2018, at a CAGR of 6.8% during the forecast period. In this study, 2018 has been considered as the base year and 2019 to 2025 as the forecast period to estimate the market size for Industrial Oxygen.
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