GCC Air Separation Plant Market Outlook

the gcc air separation plant market has been growing steadily over the past years and is expected to maintain its growth trajectory in the coming years due to a number of factors. in terms of supply, the installed base of air separation plants is expected to expand, driven primarily by the rising demand for industrial gases and the increasing demand of the downstream industries in the gcc countries. the oil & gas, petrochemical, water and wastewater, and food processing sectors are amongst the primary consumers of industrial gases. with regards to demand, the growing population and economic growth in the gcc countries has been driving the regional demand for industrial gases, particularly for nitrogen and oxygen. the demand for these two gases is expected to remain strong in the near term due to the expanding food processing and oil & gas sector activities. this is further supported by the large consumption of chemicals in the gcc countries in addition to the increasing urbanization and rise in commercial development. at the same time, the development of the local industrial air separation plant sector is becoming more important in the region. although, the majority of industrial air separation plants are still imported, more manufacturers are expected to enter the market in the near future. this will likely lead to an increase in capacity utilization and the availability of more varieties of industrial gases in different specifications in the market. moreover, the evolving regulatory framework in the gcc countries on air separation plants is expected to provide an impetus to the regional market. the regulations and standards adopted and implemented by the countries in the region are likely to boost the air separation plants industry, influencing the product design, production, distribution and end use. going forward, the gcc air separation plant market is expected to experience modest growth in the near term on the back of the rising demand from industries such as oil & gas, petrochemicals, food processing and wastewater. in addition, the evolving regulatory framework on air separation plants is expected to further propel the growth of the regional industry.