Industrial gases such as hydrogen, carbon dioxide, nitrogen, oxygen, etc., have been widely used commodity chemicals in a number of industries such as metallurgy, chemical processing, and electronics. The Air Separation Module Kit Market has been extensively used in the inerting system for the generation of the commodity chemicals inside the fuel tanks, which in turn decreases the level of oxygen and offsets the risk of explosion.
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Surge in the production of natural and shale gas in parallel to the escalating number of gas processing and biogas projects have accelerated the adoption rate of air separation module kit. Applications of air separation module kit have been gaining popularity, on the back of their utilization in the steel industry, pharmaceutical industry, metal and steel industry in the production processes of flat screens, solar cells, glass, motor vehicles, and electronics devices. With the extensive adoption trends of air separation module kit, the air separation techniques are gradually being re-engineered and the focus has been emphasized on enhancing their overall efficiency by reducing the high capital costs and energy required for the air separation process, which is predicted to bode well for the growth of the air separation module kit.
Air Separation Module Kit Market – Novel Developments
The air separation module kit market remains highly competitive, owing to a large number of partakers focusing towards fulfilling the demand generated from the end-users, which has further boosted the sales prospects of their products. Key strategies adopted by the significant players include strategic merger and acquisition, productive collaboration, agreements, diversification of portfolios with new product launches, and business expansion. The significant players operating in the air separation module kit market include Honeywell International, Air Liquide Advanced Separations LLC, Parker-Hannifin Corporation, Air Products and Chemicals Inc., Schlumberger Ltd., UBE Industries Ltd., FujiFilm Manufacturing Europe B.V., Atlas Copco AB, Membrane Technology and Research Inc., Evonik Industries, and Generon LLC.
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In May 2018, Air Products and Chemicals Inc. entered into a productive agreement with Royal Dutch Shell with an aforethought to obtain access to the patent portfolios for the gasification of biomass & coal and to share the patent rights of residue & biomass gasification. This step will further expand the offerings of the company in synthesis gas.
In April 2017, Honeywell International won a contract from Dangote Oil Refinery for offering technology licensing, critical equipment, and design services and look after the development of the largest single-train refinery. According to the agreement, Dangote will be able to access Honeywell’s processes such as RFCC, CCR Platforming, Butamer, Penex, and Unicracking, which will enhance the performance of the refinery.
In 2016, Air Liquide Advanced Separations LLC entered into an agreement with Maoming Petrochemicals Co., a subsidiary of China Petroleum & Chemical Corp. which states that the company will make a hefty investment of US$ 45 Mn for the development of a novel air separation module kit that boasts the per day oxygen production capacity of nearly 850 tons.
Air Separation Module Kit Market – Dynamics
Nitrogen Separation Application to Contribute Massively to the Growing Size of the Air Separation Module Kit Market
Among the other gas separation applications, separation of Nitrogen is expected to uphold the demand for air separation module kit on the back of its popularity in a number of industrial applications. Sales of air separation module kit are further expected to remain fueled by the cost-effectiveness of the kits as compared to the other traditional methodologies.
With the notable surge in the demand for oxygen and nitrogen enrichment from various industries, players operating in the air separation module kit market are endeavoring in the direction of enriching the features of their products, which is further anticipated to boost their desirability, thereby influencing the growth of the air separation module kit market in the forthcoming years.
Europe to Remain a Leading Air Separation Module Kit Market
Western Europe has been witnessing an imperative demand for effective air separation module kit from the natural gas processing plants for the separation of hydrogen among other applications. In addition to this, rising penetration of air separation modules as a dependable substitute of the customary air separation technologies is anticipated to simultaneously offer lucrative growth opportunities to the air separation module kit market in the upcoming years in this region.
Following the growth footsteps of Europe, North America is envisaged to hold promising growth prospects for the air separation module kit market, on the back of the large concentration of industries that demand effective air separation technologies, which is fulfilled by the significant players operating in this region.
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Air Separation Module Kit Market to Pave Path for Augmented Revenue during the Period between 2018-2
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