Spain Air Separation Plant Market Outlook

the spain air separation plant market outlook (2018-2032) indicates a bright future for the sector. currently, the market is highly fragmented, with many local suppliers operating in the space, in addition to some renowned international vendors operating in the space. furthermore, the government has implemented certain fiscal incentives to promote the growth of the industry, especially of the larger players in the space, of which it has seen the results. growing demand for air separation systems, novel technologies and minimized operating costs are likely to play a major role in the growth of the industry in the years to come. the primary use of air separation plants in spain is converting air into gases such as oxygen, nitrogen and argon. as the population grows, there is a greater demand for these gases in the medical sector for general use, for rehabilitation, for anaesthesia and for surgical procedures. this is likely to be a major driver of industry growth in the forecast period. furthermore, industrial and manufacturing companies are increasingly utilizing air separation plants for their industrial processes, such as in steel, chemical and petrochemical industries, thereby driving the growth of the air separation plant market in spain. the emergence of smart air separation plants, which are engineered to optimize the gas production as per the requirement can be attributed to the growth of the market. their ability to reduce energy consumption while providing maximum efficiency is likely to revolutionize the industry. additionally, the development of novel technologies such as cryogenic separation technology and membrane air separation technology will further drive the growth of the industry. with the increasing demand for cost savings and operational efficiency, the new technologies are expected to experience high adoption rate in the upcoming years. the government is expected to continue to implement supportive initiatives such as bank funding and preferential tax policies to the industry. furthermore, the government is encouraging r&d activities in the sector, which will stimulate the growth in the sector. hence, while global economic headwinds have been a dampener to the industry, the market for air separation plants in spain is likely to witness healthy growth in the forecast period.