Malaysia Liquid Oxygen Market to be Dominated by the Aerospace Industry through 2028
Malaysia liquid oxygen market is expected to grow
in the forecast period due to the growing demand for liquid oxygen from the
healthcare industry.
According to TechSci Research
report, “Malaysia Liquid Oxygen
Market- Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028”, Malaysia liquid oxygen market size is anticipated
to increase at a substantial rate in the forecast period. A significant factor fueling the growth of Malaysia liquid oxygen
market due to the increasing demand from the aerospace
and aircraft industry as liquid oxygen is the most common cryogenic liquid
oxidizer propellant for spacecraft rocket applications, usually in combination
with liquid hydrogen, kerosene, or methane. Liquid oxygen is also used in life
support system for astronauts and in the space station. Along with this, liquid oxygen is used
in aircraft oxygen systems, which provide breathable air at high altitudes. Moreover,
liquid oxygen is used in the pulp and paper industry as a bleaching and oxidizing
agent which improves the physical properties of various process (liquor) streams
as well as reduces the operating cost by reducing the amount of bleaching
chemicals resulting in enhanced growth of Malaysia liquid oxygen market.
For instance, Air Products and
Chemicals, Inc. uses oxygen in delignification technology, which removes 40-50%
of the residual lignin in non-bleached pulp.
Furthermore, the market is
being further stimulated by increasing demand from the healthcare industry, submarine,
and gas Industries.
However, volatility in the
prices of liquid oxygen results in changes in demand and supply which impact
the profitability of the companies operating in the market resulting in restraining
the growth of the market. Also, liquid oxygen faces competition from other
industrial gases, such as nitrogen and argon which are used for some of the
same applications and due to being cheaper or more readily available in some
cases results in slow down the market growth.
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Malaysia liquid oxygen market is segmented based on type, end
user, and region.
Based on the type,
the market is divided into vertical storage tanks and horizontal storage tanks.
Vertical storage tank segment is expected to hold
the largest market share in the forecast period. As it is more stable,
distributes pressure more evenly, is less expensive to install, has better
energy efficiency, and takes up less floor space than a horizontal design.
Based on the end
user, the market is categorized into aerospace, submarine, gas industries,
medical, and others. Health care segment is expected to hold the largest market
share in the forecast period. As liquid oxygen is also used in
cryotherapy, a medical treatment that involves exposing the body to extremely
low temperatures to treat certain conditions, such as warts, skin tags, and
cancerous tumors.
Major
companies operating in the Malaysia liquid oxygen market are:
- Air Liquide Malaysia Sdn Bhd
- Air Products Malaysia Sdn Bhd
- Ace Gases Marketing Sdn Bhd
- Linde Malaysia Sdn Bhd
- KBS Industrial Gases Sdn Bhd
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“Malaysia
liquid oxygen market has seen significant growth in recent years, driven by the
increasing demand from various sectors, including healthcare, aerospace,
submarine, gas industry, chemical industry, pulp, and paper industry. As, Malaysia has a huge palm tree, which serves as a raw material for paper
and pulp manufacturing resulting in increasing the utilization of liquid
oxygen as it works as an oxidizing agent and helps in replacing bleaching agents
that helps in reducing the operating costs of the process as well as liquid oxygen
also reduce the emission of chlorinated byproducts and lowers the organic load
and toxicity of the resulting wastewater. Due to this, the demand of liquid
oxygen increases in the process industries. Additionally, it can be used in
extended oxygen delignification (EOD) to increase the efficiency of the fiber
lines creating lucrative opportunities for market growth. Moreover, increasing
demand for liquid oxygen in various medical applications, such as respiratory
therapy, anesthesia, and cryosurgery create huge prospects of market growth
during the forecast period” said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based global management consulting firm.
“Malaysia Liquid Oxygen Market, By Type (Vertical
Storage Tank, Horizontal Storage Tank), By End User (Aerospace, Submarine, Gas
Industries, Medical, and Others), By Region, Competition, Forecast and
Opportunities, 2028”, has evaluated the future
growth potential of Malaysia liquid oxygen market and provides statistics &
information on market size, structure, and future market growth. The report
intends to provide cutting-edge market intelligence and help decision-makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in Malaysia liquid oxygen market.
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