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Why to Start a Cryogenic Oxygen Manufacturing Plant in India

A cryogenic oxygen plant is an industrial facility that creates molecular oxygen at relatively high purity. Oxygen is the most common element in the earth's crust and the second largest industrial gas. The global cryogenic equipment market is projected to reach USD 17.1 billion by 2025 from an estimated USD 12.6 billion in 2020, at a CAGR of 6.4% during the forecast period. Increasing demand for industrial gases and investments in LNG infrastructure is driving the cryogenic equipment market. There is a tremendous increase in demand for LNG globally. According to the International Gas Union, in 2018, LNG trade rose by 9.8% year on year growth from 2017. To meet the high demand for LNG, countries are witnessing high investments in infrastructure related to storage and regasification of LNG. In 2018, two new regasification terminals came online in Bangladesh and Panama. Such infrastructure construction projects create demand for equipment such as tanks, vaporizers, valves, and heat exchangers. Due to such factors, cryogenic equipment related to LNG is set to grow at the highest CAGR of 7.8% during the forecast period.


 



Related projects:- Industrial Gases Projects


The global cryogenic tanks market size was valued at USD 5.7 billion in 2019 and is projected to expand at a compound annual growth rate (CAGR) of 4.9% from 2020 to 2027. The growth can be attributed to the growing demand for low-temperature operations in various end-use industries such as metal processing, healthcare, food technology, and others. The cryogenic tanks are specially designed to be used for keeping away the heat contained in the vessel from the liquid.

 

Related Books:- BOOKS & DATABASES

 

Market Analysis of the Cryogenic Oxygen Industry 

Global Cryogenic Tanks Market is anticipated to cross USD 9 billion by 2026, as reported in the latest study by Global Market Insights, Inc. Increasing LNG trade along with growing investments across chemical, healthcare and food & beverage industry will boost the deployment of these tanks.

Increasing demand for natural gas on account of development of gas-based power generation plants along with increasing use of gas across heating and transportation sector will propel the cryogenic tanks industry size. Increasing investments across manufacturing and MSME sector including food & beverage, chemicals, rubber, and agriculture will provide favorable opportunities business expansion. In addition, the industry players are widely deploying the tanks for storing and transportation of liquids owing to their low heat loss characteristics.



 

Related Book: The Complete Book on Industrial Gases (Acetylene, Argon, Butane, Butene, Carbon Dioxide, Carbon Monoxide, Ethane, Ethene, Helium, Hydrogen Chloride, Hydrogen, Krypton, Liquefied Natural Gas (LNG), Methane, Neon, Nitrogen, Nitrogen Trifluoride Gas, Nitrous Oxide, Oxygen, Ozone, Propane, Propene, Refrigerant Gases, Sulphur Dioxide Gas, Sulphur Hexafluoride Gas, Xenon, Gas Mixtures with Machinery Equipment Details and Factory Layout)

 

Cryogenic tanks market is set to witness over 4% CAGR through 2026. Ongoing development of LNG infrastructure along with extensive investments toward development of natural gas-powered generation systems will spur the business growth. Low heat loss, longer service life and minimum maintenance cost are some of key features which will boost the product adoption. Progressive initiatives by EU and respective government authorities and increasing FDI have provided opportunities for the development of chemical, healthcare and other manufacturing industries across the region. In addition, the revival of economies post coronavirus pandemic has also led the governments to invest heavily on development sustainable infrastructure which will encourage the product demand.

The growing healthcare industry across the globe coupled with high R&D spending in the pharmaceutical industry is expected to further fuel the market growth. However, factors such as concern regarding cryogenic leakages and high capital costs may restrain the growth.


Related Videos:- Oxygen and Nitrogen Gas Production. Industrial Gas Plant

 

Conclusion

 

“Cryogenic Oxygen Manufacturing Plant” is the project report by NPCS. The scope of this and all the other project report by NPCS is assessing market potential, negotiating with collaborators, investment decision making, corporate diversification planning etc. in a very planned manner by formulating detailed manufacturing techniques and forecasting financial aspects by estimating the cost of raw material, formulating the cash flow statement, projecting the balance sheet etc.

 

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#feasibilityReport #NPCS #industrialproject #entrepreneurindia #startupbusiness  #BusinessIdeas  #StartupBusinessIdeas  #BusinessOpportunity #Oxygen #OxygenPlant #OxygenIndustry #OxygenProduction #OxygenMarket #Productionmanufacturing

 

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Annexure 21 :: Employees Expenses
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Annexure 32 :: Depreciation Charges - As per IT Act WDV (P & M)
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