High Purity Oxygen Market Is Surpassing A Market Valuation Of US$ 44.5 Bn By 2030-End

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Attributed to high demand for high purity oxygen from a range of end-use industries, currently, the global high purity oxygen market accounts for nearly one-third of the global industrial gas market. Most demand has been driven by the steel industry, in which, over three-fourth of the steel is produced using high purity oxygen. Apart from the steel industry, the chemical industry has experienced higher growth as compared to other end-use segments. Growing demand for high purity oxygen in the chemical industry to increase reaction rate and yield efficiency will amplify market growth during the forecast period.

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Key Takeaways from High Purity Oxygen Market Study

  • Industrial grade has remained the primary grade consumed by end-use industries, currently accounting for over three-fourth of global consumption.
  • On the basis of supply, developed countries such as the United States, Germany, France, Belgium, the U.K., etc., are moving towards pipeline networks, which will drive this segment at a leading growth rate of 5% in the global high purity oxygen market.
  • Metal production and fabrication have driven the consumption of high purity oxygen during the historical period.
  • The medical & healthcare segment is set to create an absolute $ opportunity worth US$ 2 Bn by 2030.
  • China, being the largest steel and chemical producer, has driven the consumption of high purity oxygen, and currently accounts for over one-third of global consumption.

“The uncertain COVID-19 outbreak has skyrocketed the demand for medical grade oxygen, and this segment is poised to generate over 4 to 5 times more demand in 2020 as compared to 2019,” says a Fact.MR analyst.

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

  • Industrial Grade
  • Medical Grade
  • Electronic Grade
  • Others

Supply

  • Onsite & Pipeline
  • Merchant & Bulk
  • Packaged

End Use

  • Metal Production & Fabrication
  • Chemicals & Refinery
  • Medical & Healthcare
  • Electronics
  • Glass & Ceramics
  • Pulp & Paper
  • Others

Region

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • Middle East & Africa

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