Oxygen Market

• In July 2021, Linde announced that it had started its new on-site facility in Qinzhou, China. The facility can supply up to 7,500 tons of oxygen per day.
• In June 2021, Air Liquide finalized the acquisition of Sasol's 16 Air Separation Units in Secunda, South Africa. The facility is the world's largest oxygen production site.
• In June 2021, Air Liquide and PAO Severstal, one of the leading steel producers, signed a new long-term contract to supply oxygen to the Severstal ChemMK site in Russia.
• In February 2021, Inox-Air Products announced plans to invest INR 2000 crore to build 8 new air separation units to meet India's growing demand for medical oxygen.

In this report, the Oxygen Market has been segmented by Form, Type, Application, Distribution Channel, and Geography.

Oxygen Market, Segmentation by Form

The Oxygen Market has been segmented by Form into Gas, Liquid, and Solid.

Gas

Gaseous oxygen is the most common form used in industrial processes, healthcare, and chemical manufacturing. It is widely applied in steelmaking, water treatment, and respiratory care. High demand for medical oxygen cylinders during health emergencies has driven this segment. Strong industrial reliance ensures steady market growth.

Liquid

Liquid oxygen is preferred for its storage efficiency and transportation convenience. It plays a critical role in aerospace propulsion, healthcare, and metallurgical operations. The ability to store oxygen in large quantities at cryogenic temperatures supports its use in hospitals and industries. Increasing demand for energy and aerospace applications is fueling growth.

Solid

Solid oxygen is less common but holds importance in scientific research and specialized industrial uses. It is mainly studied under cryogenic conditions for its unique properties. Though its commercial applications are limited, advancements in material science may expand its scope. The segment remains niche but strategically significant.

Oxygen Market, Segmentation by Type

The Oxygen Market has been segmented by Type into Medical, Industrial, and Others.

Medical

Medical oxygen is critical for respiratory support, emergency care, and chronic illness treatment. It is supplied in cylinders, concentrators, and pipeline systems in hospitals. The COVID-19 pandemic significantly boosted awareness and demand for medical oxygen. Growing healthcare infrastructure continues to sustain this segment’s expansion.

Industrial

Industrial oxygen supports metallurgy, chemical processing, and wastewater treatment. It enhances combustion efficiency and aids in various manufacturing activities. Demand remains high from steel, cement, and energy sectors. Continuous industrial growth worldwide is ensuring a stable market outlook.

Others

The “Others” category covers uses in aerospace, laboratories, and environmental applications. Research institutions use oxygen for controlled experiments and material testing. Niche applications in space exploration also contribute to demand. This segment, while smaller, adds diversification to the market landscape.

Oxygen Market, Segmentation by Application

The Oxygen Market has been segmented by Application into Metals and Mining, Chemical Industry, Oil and Gas, Healthcare, Pharmaceutical, and Others.

Metals and Mining

Oxygen plays a key role in steelmaking, smelting, and mineral processing. It improves combustion efficiency and reduces energy consumption in furnaces. The demand from large-scale mining operations continues to be significant. Expanding infrastructure projects worldwide drive the growth of this application segment.

Chemical Industry

The chemical industry utilizes oxygen in the production of ethylene oxide, methanol, and other key compounds. It enhances reaction efficiency and quality in industrial processes. Rising global chemical demand supports the consistent use of oxygen. The segment remains essential for manufacturing growth.

Oil and Gas

In the oil and gas sector, oxygen is used for enhanced recovery processes and refining. It helps optimize combustion and supports energy production activities. Demand is closely tied to fluctuations in the energy industry. As global fuel requirements persist, this segment maintains its relevance.

Healthcare

Healthcare applications include respiratory therapy, surgery, and emergency care. Hospitals rely heavily on continuous oxygen supply for patient care. With growing emphasis on healthcare accessibility, oxygen demand is steadily increasing. Rising chronic respiratory conditions further strengthen this segment.

Pharmaceutical

Pharmaceutical industries employ oxygen in drug manufacturing and sterilization processes. It supports bioreactors and laboratory environments for research. Rising drug development activities drive oxygen use in this sector. Continued innovation ensures expanding opportunities in this field.

Others

The Others application segment includes environmental treatment, aerospace, and scientific research. Specialized uses include space missions and laboratory testing. Though smaller in share, these niches reflect strategic importance. Technological innovations may further broaden this segment.

Oxygen Market, Segmentation by Distribution Channel

The Oxygen Market has been segmented by Distribution Channel into Direct Sales and Online Sales.

Direct Sales

Direct sales dominate the market, especially in industrial and healthcare sectors. Companies prefer long-term contracts to ensure uninterrupted supply. Bulk deliveries and pipeline systems are common in direct channels. This segment remains reliable due to established supplier relationships.

Online Sales

Online sales of oxygen equipment and supplies are gaining traction. Growing adoption of e-commerce platforms and digital healthcare solutions supports this trend. Patients increasingly purchase oxygen concentrators and cylinders online. Rising digital penetration is accelerating growth in this segment.

Oxygen Market, Segmentation by Geography

In this report, the Oxygen Market has been segmented by Geography into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.

Oxygen Market Share (%), by Geographical Region

North America

North America accounts for approximately 28% of the market share. High demand comes from healthcare, aerospace, and industrial sectors. The U.S. leads the region with significant infrastructure and manufacturing capacity. Continuous innovation sustains the market’s leadership position.

Europe

Europe holds nearly 25% of the global market share. Demand is driven by healthcare services, pharmaceuticals, and heavy industries. Countries such as Germany and France contribute significantly. The region’s focus on sustainable development supports further growth.

Asia Pacific

Asia Pacific dominates with around 34% market share. Strong growth in China, India, and Japan drives expansion. Rapid industrialization, healthcare investments, and large population bases fuel demand. This region is expected to continue as the fastest-growing market.

Middle East & Africa

Middle East & Africa contribute nearly 7% of the market. Growth is supported by oil and gas, healthcare, and industrial projects. Countries like UAE and South Africa show rising adoption. Investments in infrastructure enhance the segment’s outlook.

Latin America

Latin America holds around 6% of the global share. Brazil and Mexico dominate demand from healthcare and mining industries. Economic development is boosting oxygen consumption across the region. Strong focus on healthcare is a key driver of growth.

This report provides an in depth analysis of various factors that impact the dynamics of Global Oxygen Market. These factors include; Market Drivers, Restraints and Opportunities Analysis.

Drivers, Restraints and Opportunity Analysis

Drivers

• Medical therapy
• Industrial processes

• Steelmaking efficiency : The global oxygen market plays a pivotal role in enhancing the efficiency and productivity of steelmaking processes, driving innovation and optimization within the steel industry. Oxygen is a key component in the modern steelmaking method known as the basic oxygen furnace (BOF) process. In this process, oxygen is blown into the molten iron to oxidize impurities such as carbon, silicon, and manganese, leading to their removal as slag. This results in the production of high-quality steel with precise control over composition and properties. The use of oxygen in the BOF process improves energy efficiency, reduces greenhouse gas emissions, and enhances the overall competitiveness of steel manufacturers on the global stage.

  Oxygen is also utilized in the electric arc furnace (EAF) steelmaking process, which is an alternative method predominantly used for recycling scrap steel. In the EAF process, oxygen injection helps accelerate the melting of scrap and facilitates chemical reactions, leading to the removal of impurities and the production of molten steel. This efficient utilization of oxygen in the EAF process contributes to the sustainability of steel production by reducing energy consumption and minimizing the need for raw materials extraction.

  The development of advanced oxygen technologies, such as oxygen enrichment and post-combustion oxygen injection, continues to drive improvements in steelmaking efficiency. Oxygen enrichment involves increasing the oxygen content in the air fed to combustion processes, leading to higher flame temperatures and faster heating rates in steelmaking furnaces. Post-combustion oxygen injection, on the other hand, allows for precise control over the combustion process, optimizing heat transfer and reducing fuel consumption. These innovations underscore the critical role of oxygen in driving continuous improvement and sustainability within the global steel industry, ultimately contributing to the production of high-quality steel products for various applications worldwide.

Restraints

• Supply Constraints
• Safety Regulations

• Infrastructure Limitations : Infrastructure limitations present significant challenges in the Global Oxygen Market, affecting the production, distribution, and accessibility of this critical industrial gas across various regions. In many parts of the world, especially in developing countries and rural areas, inadequate infrastructure hampers the efficient production and delivery of oxygen to industries, healthcare facilities, and end-users. Limited access to reliable energy sources, water, and transportation networks constrains the establishment of oxygen manufacturing plants and storage facilities, hindering market growth and industrial development in these regions.

  Infrastructure limitations impact the distribution and supply chain logistics of oxygen, leading to inefficiencies and disparities in market accessibility. In remote or underserved areas with poor road networks or inadequate storage facilities, transporting oxygen cylinders or bulk liquid oxygen becomes challenging, resulting in delays, product shortages, and increased costs. Unreliable electricity grids and insufficient backup power systems pose risks to oxygen production and distribution operations, particularly in regions prone to natural disasters or political instability, further exacerbating infrastructure limitations in the global oxygen market.

  Addressing infrastructure limitations in the Global Oxygen Market requires coordinated efforts among governments, industry stakeholders, and international organizations to invest in infrastructure development, technology upgrades, and capacity-building initiatives. Strategic investments in oxygen production plants, storage facilities, and distribution networks can improve market accessibility and ensure reliable oxygen supply to industries, healthcare facilities, and communities. Leveraging innovative technologies such as on-site oxygen generation systems, decentralized production units, and mobile oxygen plants can enhance flexibility and resilience in oxygen supply chains, particularly in underserved areas with limited infrastructure. By prioritizing infrastructure investments and adopting sustainable development strategies, the global oxygen market can overcome infrastructure limitations and promote economic growth, industrialization, and public health worldwide.

Opportunities

• Medical Oxygen
• Industrial Oxygen

• Aerospace Oxygen : Aerospace oxygen systems play a critical role in ensuring the safety and well-being of astronauts and passengers in aircraft. These systems provide a controlled and breathable supply of oxygen in environments where the natural atmosphere is insufficient, such as at high altitudes or in space. In aerospace applications, oxygen is not only necessary for respiration but also for various onboard systems, such as fuel combustion and avionics operation. The demand for aerospace oxygen systems stems from both manned space missions and commercial aviation, where safety standards mandate the availability of oxygen in case of emergency depressurization or during prolonged flights at high altitudes.

  In the global oxygen market, aerospace applications represent a specialized segment characterized by stringent quality and safety requirements. The market is driven by ongoing advancements in aerospace technology, including the development of more efficient and compact oxygen generation and delivery systems. Increasing investments in space exploration by government agencies and private companies are fueling demand for aerospace oxygen systems. As space missions become more ambitious, with plans for lunar exploration, Mars missions, and beyond, the need for reliable oxygen supply systems will continue to grow.

  Despite the challenges posed that aerospace oxygen market has remained resilient due to its essential role in ensuring the safety of astronauts and passengers. While the impacted commercial aviation, leading to a temporary reduction in air travel demand, long-term prospects for the aerospace oxygen market remain positive. As the aviation industry gradually recovers and space exploration efforts resume, the demand for aerospace oxygen systems is expected to rebound, driven by both existing and emerging players in the aerospace sector.

Key players in Global Oxygen Market include:

• Linde Group
• AirLiquide
• Praxair
• Air Product
• Taiyo Nippon Sanso
• Airgas
• MESSER
• Air Water
• Yingde Gases

In this report, the profile of each market player provides following information:

• Company Overview and Product Portfolio
• Key Developments
• Financial Overview
• Strategies
• Company SWOT Analysis