Asia Pacific Air Separation Plant Market Outlook

the asia pacific air separation plant market is set to experience substantial growth during the forecast period of 2018-2032, driven by increasing demand from end-use industries, such as oil and gas production, chemical production, and power generation. in addition, the growing demand for hydrogen as a premises fuel is further fueling the growth of the market. increasing efforts to increase product quality and reduce operating costs are other factors that are supporting the growth of the market. factors such as shortage of skilled labor and high cost of plant establishment also provide an impetus for the growth of this market. to capitalize on these opportunities, regional countries have been investing heavily in targeted plant development and construction projects. in the asia pacific region, developing countries such as india and china are expected to account for major shares of the air separation plant market during the forecast period. india holds significant untapped potential in terms of markets for air separation plants; hence, international and domestic players have started investing in the country. the application of air separation plants is of major importance to the production of hydrogen. due to increasing emphasis on hydrogen fuel cell technology in various countries, the demand for hydrogen has been witnessing a steady increase. as a result, demand for cryogenic air separation plants, which are used for the production of oxygen and nitrogen, has been increasing. this, along with growing demand from end-use industries, is expected to contribute significantly to the growth of the market. various companies operating in the air separation plant market have been launching environment-friendly products in order to meet the stringent emission regulations put in place by the government. such initiatives are expected to create positive sentiments towards the market in the coming years. further, numerous foreign companies have been entering india, china, and other asian countries, which is yet another precursor to the growth of the market. in conclusion, the asia pacific air separation plant is set to witness healthy growth during the forecast period of 2018-2032, driven by increasing demand from end-use industries and various initiatives undertaken by the leading market players.