Global oxygen market Overview:
Oxygen is used in medical therapies in hyperbaric oxygen chambers for the treatment of soft tissue infections, thermal burns, crush injuries, diabetes wounds and late radiation injuries, some skin and flap transplants, etc. Oxygen respirators are used in hospitals to treat patients, as well as mountaineers and divers during diving and trekking. Oxygen is used in combination with acetylene to cut, melt and weld metals. It is also used by mining companies to take off rocks. Liquid oxygen is used to launch bi-propellant vehicles and oxygen gas is used to promote the combustion of rocket fuel in spacecraft. Oxygen is also used as an auxiliary gas for laser and plasma cutting.
Oxygen can also activate carbon capture processes. Oxygen is used in gasification processes, industrial heaters, industrial fermentation and boilers to improve productivity. In water treatment plants, oxygen is added directly to the wastewater to improve the efficiency of removing contaminants from the water. Most celebrities undergo facial spa treatments with oxygen. These facials provide instantaneous nutrition and radiance to the skin. Oxygen vapor under pressure under hyperbaric therapies strengthens the skin with essential nutrients.
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Global oxygen market – Drivers and restraints:
The growth of industries such as agriculture, automobiles, beverages, chemical products, construction equipment, food, glass, drugs, shipbuilding, space exploration, manufacturing, steel, etc., requires stable oxygen for the processes, increasing the demand for oxygen production worldwide. The versatile uses of oxygen in the chemical industry as an oxidizing agent and catalyst contribute to the growth of the oxygen market. The use of oxygen in the processing of metals, mines and minerals improves the efficiency of their processes, which reduces overall production costs. Oxygen consumption as a respiratory aid is increasing worldwide due to increased pollution, which effects the air and reduces the amount of natural oxygen for the breathing. Liquid oxygen is extremely cold outside of its vast applications. It can cause severe freezing and cryogenic burns on the skin. The lack of written safety instructions from oxygen providers can cause injuries when operating an oxygen device. The cost of producing oxygen for different purposes, such as medical and industrial, is high, which makes it an expensive chemical, affecting the growth of market.
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Global oxygen market – Geographical segmentation:
The global oxygen market is geographically segmented into North America, Asia-Pacific excluding Japan (APEJ), Eastern Europe, Western Europe, Latin America, Japan, and the Middle East & Africa. The APEJ region has a significant oxygen market share due to growth in the health and manufacturing sector. In addition, the growth of extractive industries and mineral processing, in which oxygen is a key catalyst, is helping to stimulate the growth of the oxygen market in the region. The market in North America and Europe, is more inclined towards increasing consumption of oxygen because of the increasing scientific and waste recycle applications.
Prominent Key Players in Global oxygen market:
Some of the prominent players in the global oxygen market are The Linde Group, Air Liquide, Praxair Technology, Inc., TAIYO NIPPON SANSO, Airgas, Inc., AIR WATER INC, Yingde Gases, Baosteel Metal Co., Ltd., and Guangdong Haute Gas Co., Ltd.
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