DUBLIN--(BUSINESS WIRE)--The "North America Air Separation Unit Market - Growth, Trends, and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
Active R&D activities reduce the energy requirements of air separation unit in tonnage quantities. Therefore, the increasing R&D activities and the ongoing optimization efforts are expected to result in an increased use of air separation units in the region, particularly in the United States and Canada.
Moreover, the growing demand for the industrial and specialty gases in the oil & gas industry, along with the increased purity level of gases, owing to the technological advancements in distillation and filtration capabilities, are some of the major factors driving the North American air separation unit market during the forecast period.
The end-user industries, such as petrochemical, fertilizers, and oil & gas, are expected to contribute to the significant level of industrial gas demand in North America, with United States leading the market. The expansion of planned LNG terminals in the region is expected to be a major driver for increasing the nitrogen demand. In addition, the increasing establishments of commercial gasification facilities are expected to have a huge requirement of oxygen. The developments in the Oxyfuel combustion process are expected to further drive the demand for oxygen, during 2018-2023. Hence, the increasing use of industrial gases is expected to propel the growth of the air separation unit market in North America.
Increasing population in the developing economies and the growing demand for plastics is likely to support the continuing growth in the demand for petrochemical products. The global demand for petrochemical products is expected to grow at 4.0%, 4.2%, and 4.3% in each of the years, 2017-2019, respectively. The growth in the petrochemical industry is expected to drive the demand for oxygen, used for oxidization, for processing refined crude oil.
Key Developments in the Market
- June 2017: Air Products and Linde North America formed a joint venture company, East Coast Nitrogen (ECN), to build a 1,100 ton per day world-scale air separation unit and industrial gas liquefier in Glenmont, New York. The project, with a capital investment of USD 60 million, is slated for commercial status by December 2018.
- Air Liquide SA
- Air Products and Chemicals Inc.
- Enerflex Ltd
- Linde AG
- Praxair Inc.
- Universal Industrial Gases Inc.
- Taiyo Nippon Sanso Corporation
Key Topics Covered
1. Executive Summary
2. Research Methodology
3. Market Overview
4. Market Dynamics
5. Value Chain Analysis
6. Porter's Five Force Analysis
7. Market Segmentation and Analysis
8. Regional Market Analysis
9. Key Company Analysis
10. Competitive Landscape
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