(EMAILWIRE.COM, May 29, 2021 ) Increasing prevalence of various diseases related to breathing problems contribute to the global oxygen markets growth by increasing the need for use of oxygen for medical purposes. Diseases such as Chronic Obstructive Pulmonary Disease (COPD) are more prevalent in the geriatric population.
COPD is a type of obstructive lung disease that results in long-term breathing problems. COPD requires the use of oxygen concentrator, which is a device that improves the level of oxygen in blood in patients and addresses their breathing
problems. According to the United Nations (UN), in 2020, there an estimated 727 million persons aged 65 years or over worldwide and expected to reach 1.5 billion by 2050. Thus, the increased number of such cases has surged the demand for portable oxygen concentrators, therefore driving the oxygen markets growth.
The oxygen market consists of sales of oxygen and related services used in various applications such as steel mills to oxidize unwanted impurities in the steel. Oxygen is also used in the food industry, medical oxygen for respiration and in oxy-acetylene torches. Oxygen is a colorless non-metallic gas which is highly reactive in nature. Oxygen forms oxides with many compounds and other elements. It is widely used for industrial, medical, and scientific applications as an oxidizing agent or as a catalyst. Oxygen is available in cylinders, spray cans and containers etc.
Oxygen Market Report Segments:
1) By Product Type: Medical Oxygen, Industrial Oxygen, Others
2) By Application: Cosmetics, Pharmaceutical, Automobiles, Mining, Mineral Processing Applications
3) By Application: Metallurgical Industry, Chemical Industry, Health Care Industry, Others
Read More On The Global Oxygen Market Report:
http://www.thebusinessresearchcompany.com/report/oxygen-global-market-report
Oxygen Market Size Forecast:
The global oxygen market is expected to grow from $26.15 billion in 2020 to $27.26 billion in 2021 at a compound annual growth rate (CAGR) of 4.2%.The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $37.29 billion in 2025 at a CAGR of 8%.
Major Players in the Oxygen Market:
Linde Group, Praxair Technology Inc, Air Liquide, Taiyo Nippon Sanso, Yingde Gases, Air Water Inc, Airgas Inc., Guangdong Haute Gas Co. Ltd, Baosteel Metal Co. Ltd.
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Oxygen Global Market Report 2021 is one of a series of new reports from The Business Research Company that provide market overviews, analyze and forecast market size and growth for the whole market, segments and geographies, trends, drivers, restraints, leading competitors revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies. The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors approaches.
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