Global Oxygen Market Growth, Share, Size, Trends and Forecast (2025 - 2031)

• 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.

The global oxygen market is segmented by form, type, and application, each catering to distinct needs across various industries. In terms of form, the market is divided into Gas, Liquid, and Solid oxygen. Oxygen gas is the most widely used form, particularly in healthcare for respiratory support, and in industrial processes such as steel manufacturing and chemical production. Liquid oxygen is preferred in sectors where higher density and ease of transport are required, such as in aerospace, medical applications, and certain industrial uses. Solid oxygen, although less common, is used in niche applications like cryogenics and scientific research, driven by advancements in low-temperature technologies.

The market is also segmented by type, with Medical, Industrial, and Other categories. Medical oxygen is essential in hospitals and homecare for patients with respiratory issues, making it a critical product in the healthcare sector. The growing demand for medical oxygen is particularly notable with aging populations and increasing respiratory diseases. The Industrial oxygen segment includes applications in various industries such as metals and mining, oil and gas, and chemicals, where oxygen is used to enhance combustion, improve efficiencies, and support chemical reactions. Other types of oxygen include its use in specialized fields such as aerospace, food and beverage packaging, and environmental monitoring, all of which are contributing to the market’s growth.

In terms of applications, oxygen is utilized across several key sectors. The Metals and Mining industry consumes a significant amount of oxygen in steel production and mineral extraction processes, where it is used to improve combustion and efficiency. In the Chemical Industry, oxygen is a key component in producing chemicals like ethylene oxide and methanol, as well as in various oxidation processes. The Oil and Gas sector uses oxygen in refining, enhanced oil recovery, and other processes that require oxygen to enhance efficiency and reduce environmental impact. Oxygen is also critical in Healthcare, where it is used for patient care and surgery, and in the Pharmaceutical industry, where it supports fermentation and the production of drugs. The Other category includes oxygen’s role in niche applications like cryogenics, environmental management, and aerospace, all of which are expected to expand as technology and demand evolve. The growth across these segments highlights oxygen's essential role in modern industry and healthcare, driving market expansion globally.

Global Oxygen Segment Analysis

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

Global Oxygen Market, Segmentation by Form

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

The global oxygen market is segmented by form into Gas, Liquid, and Solid, each catering to distinct industries and applications. Oxygen gas is the most commonly used form, with significant demand in healthcare, industrial applications, and environmental management. In the healthcare sector, oxygen gas is primarily used for respiratory support in hospitals, clinics, and homecare settings, making it a critical component for patients with respiratory disorders. Additionally, oxygen gas is essential in industrial processes like steel manufacturing, chemical production, and welding, where it is used to enhance combustion and support various chemical reactions.

Liquid oxygen is another key segment in the global market, especially in industries requiring high concentrations of oxygen in a more compact and easily transportable form. Liquid oxygen is widely used in the medical field, where it is often stored and transported in tanks for use in emergency situations or for patients who require a larger supply of oxygen than can be delivered through gas. This form of oxygen is also critical in aerospace applications, where it is used as an oxidizer in rocket propulsion systems, and in various industrial processes, such as in the production of semiconductors or metal refining. The ability to store liquid oxygen at low temperatures allows for higher density and more efficient storage and transport, which is a key advantage in many applications.

The solid oxygen segment is less common but is used in very specialized applications, including in scientific research and certain advanced technologies. Solid oxygen is typically produced at extremely low temperatures and has unique properties that make it useful in cryogenics and specific types of experimental work. While its usage is limited compared to gas and liquid forms, solid oxygen plays an important role in the development of new materials, energy systems, and in the study of low-temperature physics. The demand for solid oxygen is expected to remain niche, but as scientific and technological advancements continue, it may see incremental growth in specialized fields. As the global market continues to evolve, the various forms of oxygen will see continued diversification of uses across different sectors, driven by innovation and growing demand in healthcare, industry, and research.

Global Oxygen Market, Segmentation by Type

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

The global oxygen market is segmented by type into Medical, Industrial, and Other categories, each with distinct uses and demands. The Medical oxygen segment is one of the most crucial, as oxygen is essential in treating patients with respiratory illnesses or conditions that impair breathing. It is commonly used in hospitals, clinics, homecare settings, and emergency services to support patients with conditions such as chronic obstructive pulmonary disease (COPD), asthma, and COVID-19. Medical oxygen is often administered through oxygen tanks or concentrators and is regulated to meet strict purity standards. The growing demand for healthcare services worldwide, particularly in aging populations, is expected to drive continued growth in the medical oxygen market.

The Industrial oxygen segment is another significant contributor to the global market. Oxygen is used extensively in various industrial processes, including steel manufacturing, chemical production, petroleum refining, and welding. In the steel industry, for example, oxygen is used to increase combustion efficiency, improve production processes, and reduce costs. Oxygen also plays a critical role in the production of chemicals like ethylene oxide, hydrogen, and methanol. The demand for industrial oxygen is closely tied to the expansion of industries such as manufacturing, chemicals, and energy, with growth expected in emerging economies as industrialization increases. Additionally, industrial oxygen is crucial in processes like water treatment, where it is used to support aerobic biological treatment systems.

The Other category encompasses oxygen used in a variety of specialized applications outside of medical and industrial fields. This includes uses in aerospace, where oxygen is vital in space exploration and aviation, particularly for life support systems and propulsion. Oxygen is also used in the food and beverage industry for packaging, where it helps preserve products by removing oxygen from packaging to extend shelf life. Other niche applications for oxygen include its use in laboratory research, environmental monitoring, and cryogenics. Although smaller in scale compared to the medical and industrial segments, the "Other" category represents diverse and growing applications, especially as technology advances and new industries emerge. As global industries continue to expand, the demand for oxygen across these segments will increase, with each sector contributing to the overall growth of the market.

Global Oxygen Market, Segmentation by Application

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

The global oxygen market is segmented by application into Metals and Mining, Chemical Industry, Oil and Gas, Healthcare, Pharmaceutical, and Other sectors, each with unique requirements and growing demands. In the Metals and Mining industry, oxygen plays a critical role in steelmaking and the production of non-ferrous metals, where it is used to enhance combustion and improve efficiency in smelting and refining processes. Oxygen is also essential in gold and silver extraction, where it aids in oxidation reactions. As the demand for metals continues to rise globally, especially with infrastructure development and industrial expansion, the need for oxygen in these processes is expected to increase.

In the Chemical Industry, oxygen is crucial for various processes such as the production of chemicals like ethylene oxide, hydrogen, and methanol. It is also used in chemical reactions that require oxidation to produce valuable by-products. The Oil and Gas industry relies on oxygen for various applications, particularly in the refining process where it enhances combustion and helps reduce emissions. Oxygen is also used in enhanced oil recovery (EOR) techniques, where it is injected into oil reservoirs to increase the extraction of crude oil. As global demand for energy rises, the application of oxygen in the oil and gas sector will continue to grow, especially with increasing environmental regulations driving the adoption of more efficient technologies.

In the Healthcare sector, oxygen is vital for treating respiratory diseases, providing life support for patients in critical care, and supporting anesthesia during surgery. The Pharmaceutical industry also uses oxygen in the production of certain medications and in the development of biotechnological processes. Oxygen is essential for cell cultures and fermentation processes that are used to produce vaccines and other biopharmaceutical products. The Other category includes niche applications such as oxygen's role in aerospace for life support systems and propulsion, as well as in environmental monitoring, cryogenics, and the food and beverage industry for packaging. The growing demand for oxygen across these diverse applications reflects its essential role in modern industry and healthcare, and the market is expected to see sustained growth across all sectors.

Global Oxygen Market, Segmentation by Geography

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

Global Oxygen Market Share (%), by Geographical Region, 2024

North America stands as a significant market for oxygen, driven by its extensive industrial base, including manufacturing, healthcare, and metallurgy sectors. The United States, in particular, exhibits substantial demand for oxygen in steelmaking, chemical manufacturing, and medical applications. The region's advanced infrastructure, technological innovation, and stringent safety standards contribute to the efficient production, distribution, and utilization of oxygen for diverse industrial and commercial purposes.

In Europe, the oxygen market demonstrates steady growth, supported by the region's focus on environmental sustainability, renewable energy, and healthcare advancements. Countries such as Germany, the United Kingdom, and France lead the market, leveraging oxygen in industries such as automotive manufacturing, aerospace, and healthcare services. Europe's emphasis on reducing carbon emissions and transitioning towards cleaner energy sources drives demand for oxygen in hydrogen production, fuel refining, and wastewater treatment processes. The region's robust healthcare infrastructure relies on oxygen for medical gas therapy, respiratory support, and anesthesia administration, highlighting its critical role in ensuring patient care and treatment outcomes.

The Asia Pacific region represents a dynamic and rapidly expanding market for oxygen, fueled by industrialization, urbanization, and infrastructure development. China, India, and Southeast Asian countries drive significant demand for oxygen in steel production, construction, and manufacturing sectors. The region's burgeoning healthcare industry also contributes to oxygen market growth, with increasing investments in medical gas infrastructure, hospital facilities, and emergency response services. Asia Pacific's growing emphasis on environmental sustainability and clean energy initiatives drives demand for oxygen in renewable fuel production, wastewater treatment, and air pollution control applications, positioning the region as a key contributor to the global oxygen market.

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