Air Liquide Is One Of The Largest Players In The Oxygen Market, According To The Business Research Company’s Oxygen Market – By Type (Medical Oxygen, Industrial Oxygen, Others), By End-User Sector (Mineral Processing, Automobiles, Healthcare, Cosmetics, Mining, Pharmaceuticals, Others), And By Region, Opportunities And Strategies – Global Forecast To 2030
(Companies Covered: Air Liquide, The Linde Group, Mitsubishi Chemical Holdings Corporation, Air Products and Chemicals Inc, Yingde Gases)
The global oxygen market reached a value of nearly $27,741.8 million in 2019, having increased at a compound annual growth rate of 6.1% since 2015. The market is expected to decline from $27,741.8 million in 2019 to $27,548.0 million in 2020 at a rate of -0.7%. The decline is mainly due to lockdown and social distancing norms imposed by various countries and economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is also restrained due to uncertain demand from the industrial sector due to uncertain demand. The market is then expected to recover slightly and grow at a rate of 0.11% from 2021 ad reach $27,482.3 million in 2023. The market is expected to reach $30,052.0 million in 2025, and $36,553.2 million in 2030.
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The oxygen market consists of the sales of oxygen by entities (organizations, sole traders or partnerships) that manufacture oxygen gas in compressed, liquid, and solid forms. Oxygen is used as medical oxygen for respiration, as industrial gas in different industries, and is also used in oxy-acetylene torches. Oxygen is a colorless non-metallic gas which is highly reactive in nature. Oxygen forms oxides with many compounds and other elements.
Global Oxygen Market Segmentation –
1) By Oxygen Type: Medical Oxygen, Industrial Oxygen, Others.
2) By Application: Mineral Processing, Automobiles, Healthcare, Cosmetics, Mining, Pharmaceuticals, Others.
Global Oxygen Market Driver –
The increased demand for portable oxygen driven by home healthcare is expected to drive the market. A portable oxygen concentrator is a medical device that helps individuals with a low level of blood oxygen. The device is used to provide oxygen therapy to people that require greater oxygen concentrations than the levels of ambient air. The factors fueling the demand for portable oxygen concentrators is an increasing prevalence of chronic obstructive pulmonary diseases, growing consumer awareness for oxygen therapy devices, a changing consumer lifestyle, and a rise in investment by manufacturing companies towards the production of homecare products. People are also increasingly using oxygen pods or oxygen therapy for anti-ageing applications.
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Few Points From The Global Oxygen Market TOC
1. Oxygen Market Executive Summary
2. Table Of Contents
3. List of Figures
4. List of Tables
5. Report Structure
6.1. Segmentation By Geography
6.2. Segmentation By Type
6.3. Segmentation By Application
7. Oxygen Market Characteristics
7.1. Market Definition
7.2. Market Segmentation By Type
7.3. Market Segmentation By Application
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