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Asia Pacific Non-Cryogenic Air Separation Unit Market Analysis
Based on gas, the market is segmented into nitrogen, oxygen, argon, & others. The nitrogen-based air separation unit industry is expected to surpass USD 379 million by 2032. Strict environmental regulations and the regional shift towards sustainability are fueling the adoption of non-cryogenic Air Separation Units (ASUs). These units play a crucial role in processes aimed at reducing greenhouse gas emissions, including carbon capture and storage (CCS) and the production of low-carbon hydrogen.
Based on end use, the Asia Pacific non-cryogenic air separation unit market is segmented into iron & steel, oil & gas, healthcare, chemicals, others. The healthcare end use industry will grow at a rate of over 3% through 2032. The healthcare industry is a major driver of the market owing to the increasing need for medical oxygen and prompting increased investment in ASUs to secure a reliable supply. In addition, all time high use of oxygen in medical treatments, surgeries, and respiratory therapies continues to fuel demand, contributing to ongoing market growth.
China dominates the regional market and is projected to exceed USD 207 million by 2032. Rapid industrialization, urbanization, and growth in the manufacturing sectors in China are fuelling the demand for non-cryogenic ASUs. In addition, the shift towards renewable energy sources and the push for hydrogen production as a cleaner fuel in the country are creating demand for non-cryogenic ASUs.
The region is also experiencing substantial investments in healthcare infrastructure form countries like India, which in turn is inducing favourable market growth. For instance, in April 2024, the government of India allocated over USD 10.8 billion in its interim Budget for 2024–2025 for healthcare expenditure. This investment will strengthen the healthcare industry, thereby supporting the deployment of ASUs.
What is the projected growth rate of the Asia Pacific Non-Cryogenic Air Separation Unit Market?
The Asia Pacific Non-Cryogenic Air Separation Unit industry was worth USD 677.2 million in 2023 and is expected to grow at 4.4% CAGR from 2024 to 2032, driven by rising demand from sectors like healthcare, manufacturing, and energy.
Which industry is a major driver of the Asia Pacific Non-Cryogenic Air Separation Unit market?
The healthcare industry is a major driver, growing at a rate of over 3% by 2032. The increasing demand for medical oxygen in treatments, surgeries, and respiratory therapies is boosting the investment in non-cryogenic ASUs to ensure a reliable oxygen supply.
What is the forecasted market size for nitrogen-based air separation units in the Asia Pacific region?
The nitrogen-based air separation unit market in the Asia Pacific region is projected to surpass USD 379 million by 2032. The growing need for nitrogen, especially in industries like metal cutting, welding, and chemicals, is driving this segment's growth.
Which companies are prominent players in the Asia Pacific Non-Cryogenic Air Separation Unit industry?
Key market players include Air Liquide, Linde Plc, TAIYO NIPPON SANSO CORPORATION, AMCS Corporation, and Sichuan Air Separation Plant Group. These companies are actively involved in mergers, acquisitions, and strategic partnerships to strengthen their market positions.
How does China contribute to the growth of the Asia Pacific Non-Cryogenic ASU Market?
China dominates the regional market and is projected to exceed USD 207 million by 2032. Factors such as rapid industrialization, urbanization, and growth in the manufacturing sectors, alongside the push for renewable energy sources like hydrogen, contribute to the increasing demand for non-cryogenic ASUs.