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75% of Sales in High Purity Oxygen Market to Concentrate in Industrial Grade Segment

The high purity oxygen report published by Fact.MR delves into major observations concerning prominent expansion parameters prevailing across key segments for the upcoming decade. The report also delves on information regarding major growth driver, trends and opportunities across leading segments including grade, supply, and end-use across seven regions.

NEW YORK , Dec. 6, 2021 /PRNewswire/ -- Fact.MR – A Market Research and Competitive Intelligence Provider: As per Fact.MR, the global high purity oxygen market is poised to expand at a healthy 6% CAGR over the forecast period of 2020 and 2030. Increasing applications of high purity oxygen across steel, medical, paper, and chemical industries will drive the sales.

High purity oxygen is extensively used in steel industry, for metal fabrication, welding, and others. With such increasing applications in diverse end-use sectors, the high purity oxygen market is expected to hold over 1/3rd of the global industrial market.

As per Fact.MR, as high purity oxygen has low melting and boiling points and have excellent stability in room temperature, it is heavily used in healthcare and steel industries. Due to its aforementioned properties, over 3/4th of steel is produced using high purity oxygen.

Apart from steel industry, the chemical industry is the second-largest end-use industry experiencing high growth in high purity oxygen market. Countries such as India , the U.S., Germany , and Belgium are adopting pipeline networks, boosting the growth in the market.

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Regionally, East Asia is expected to dominate the global high purity oxygen market. While China is projected to lead the market, South Korea and Japan are expected to, collectively, accounted for 10% of steel production, increasing the sales at 6% CAGR.

"Key players in the global high purity oxygen market are collaborating with chemical and steel industry manufacturers, setting up widespread gas pipeline networks across India , China , Japan , and South Korea . This is expected to create growth opportunities for the market players, especially across Asia Pacific ," says a Fact.MR analyst.

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As per Fact.MR, the global high purity oxygen market is expected to be consolidated in nature. Tier-1 players are expected to dominate the global market, accounting for nearly 60%-70% of the market share.

These leading players are aiming for organic and inorganic strategies such as mergers, acquisitions, and product development to gain competitive edge in the industry. For instance,

Key Players in the High Purity Oxygen Market Include:

More Valuable Insights on High Purity Oxygen Market

Fact.MR provides an unbiased analysis of the high purity oxygen market, presenting historical demand data (2014-2019) and forecast statistics for the period from 2020-2030. The study divulges compelling insights on the global high purity oxygen market with a detailed segmentation on the basis of:

Key Questions Covered in High Purity Oxygen Market Report

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