As per the recent research conducted by a leading market insights provider FMI, the global Industrial Oxygen market will expand at a healthy CAGR over the forecast period between 2023 and 2033. The aim of this study is to analyze key market dynamics affecting the sales of Industrial Oxygen and provide vital insights to business owners to get benefited from forthcoming opportunities.
The report conducts an in-depth analysis into factors affecting the change in consumer behavior and purchasing patterns. It highlights the key growth prospects for the demand and sales across seven major regions. It also provides refines sales projections and assist market players in identifying the remunerative segments among the verticals.
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Upsurge in the Trend of Green Chemistry to Facilitate the Growth in the Industrial Oxygen Market
Governments of several countries are emphasizing on implementing regulations on chemicals that are hazardous for environment, owing to the rising concerns regarding environment sustainability. Hence, growing trend of green chemistry or sustainable chemistry is being witnessed across the chemical industry.
Citing this trend, chemical manufacturers are reviewing their business strategies and shifting their focus towards adopting eco-friendly practices for the production of sustainable alternatives or less toxic chemicals. This is expected to favor the growth in the Industrial Oxygen market.
Key Industrial Oxygen Market Takeaways and Projections
- The U.S. will lead the North America Industrial Oxygen market, projecting the fastest growth in the region between forecast period
- Germany will collectively hold the largest share in the Europe market over the assessment period.
- India will emerge as a highly remunerative market in South Asia, contributing significant revenue share in the region through forecast period.
- China will dominate the East Asia market, accounting for the largest demand share during the forecast period.
- In terms of segments, will hold the lion’s share in the market, expanding at a robust CAGR during the next ten years.
Competitive Landscape Analysis
Key market players operating in the industrial oxygen sector are focusing on expanding production capacities by setting up new production units, especially in emerging economies. Prominent key players are also aiming at strategic mergers and acquisitions to enhance their geographic market presence. Dominant companies in the industry are concentrating on technological advancements in order to boost their production capacity at minimal operating costs. The survey offers insights into critical trends and opportunities across technology industry and studies their impact on demand-supply forces in the Industrial Oxygen market.
Industrial Oxygen Demand Analysis by Category
By Product Type:
- Compressed Oxygen Gas
- Liquefied Oxygen
By End Use:
- Automotive & Aerospace
- Chemical Processing
- Energy
By Region:
- North America
- Latin America
- Europe
- Asia Pacific (APAC)
- Middle East & Africa (MEA)
Why Buy FMI’s Report?
- Extensive analysis on high growth niche markets across major regions
- Detailed assessment on key segments and sub-segments
- Recent and upcoming strategies tracked of manufacturers for the Industrial Oxygen market
- Reliable information on new product launches, technological advancements, and more
- Valuable insights on the impact of regulatory framework on the global Industrial Oxygen market
More Insights into the Industrial Oxygen Market
The United States is expected to dominate the global industrial oxygen market as it accounted for around US$ 4.8 billion market share in 2021 and the global industrial oxygen market grew at a robust rate of 8.9% year on year, bucking initial skepticism about how the market would perform during a global pandemic.
Significant growth in the automotive, aerospace, iron and steel, chemical, metal fabrication, and welding industries and the healthcare sector are anticipated to boost the growth of the industrial oxygen market in Germany. Germany is expected to witness growth at the rate of 7.3% over the forecast period.