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
Published Date: December - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Chemicals | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationMalaysia 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
Malaysia liquid oxygen market is anticipated to grow significantly in the projected period of 2028, due to increasing demand for liquid oxygen from the healthcare industry.
It is used in various medical applications, such as respiratory therapy, anesthesia, and cryosurgery. Liquid oxygen is classified as an industrial gas and is widely used for industrial and medical purposes. Liquid oxygen is obtained from the oxygen found naturally in air by fractional distillation in a cryogenic air separation plant. Liquid oxygen is lightweight, has lengthy durations, is not dependent on electricity, and can treat multiple disease.
Malaysia liquid oxygen market is a dynamic and competitive market that offers opportunities for growth and innovation. The market players are focusing on expanding their product portfolio, enhancing their quality standards, improving their distribution network, and increasing their market share. Along with this, merger, and acquisition activity in the liquid oxygen market enhances companies' presence in the region as these acquisitions help companies to better serve their customers and meet the growing demand for liquid oxygen in Malaysia in the forecasted period.
For instance, Air Liquide strengthened its position in Malaysia with the acquisition of Southern Industrial Gases Sdn Bhd in October 2019.
Rising Demand for Liquid Oxygen from Aerospace Industry
Liquid oxygen is used in aircraft oxygen systems, as it provides breathable air at high altitudes. The demand for air travel has been increasing. This leads to the growth of the aerospace industry in Malaysia, which further increases the number of commercial aircraft in the country, which has driven the demand for liquid oxygen in aircraft oxygen systems. Liquid oxygen is used in space exploration for various purposes, such as life support systems and propulsion systems as it is employed in cryogenic engines which provide more force with each kilogram of cryogenic propellant as compared to other solid and liquid propellant rocket engines. Liquid oxygen is commonly used in aeronautics due to its high oxidizing ability and high density, which makes it an efficient and powerful oxidizer for rocket propellants. In rocket engines, liquid oxygen is used as an oxidizer, which provides the oxygen required for the fuel combustion reaction. In addition, liquid oxygen is used in cold gas thrusters, which are small rocket engines used for maneuvering satellites and spacecraft in orbit. Liquid oxygen is preferred over other oxidizers because it has a high density, which allows for a higher fuel-to-oxidizer ratio, resulting in a higher specific impulse (i.e., the amount of thrust produced per unit of propellant consumed), thus augmenting the growth of Malaysia liquid oxygen market.
For instance, Astronautic Technology Sdn Bhd, a wholly owned company by the Malaysian government supervised by the Ministry of Science, Technology, and Innovation that focus mainly on the development of space and satellites technology by concentrating on research and development that includes advanced and innovative technologies for the space industry.
Moreover, chemical industries employ liquid oxygen to generate oxidation processes that help alter feedstock structure as well as liquid oxygen also plays a role in petroleum refining and recovery, improving flow and reducing viscosity, among other important functions.
For instance,
Therefore, the increasing demand from aerospace and process industry led to the growth of Malaysia liquid oxygen market in the projected year.
Download Free Sample Report Growing Demand from Healthcare Industry
The healthcare industry is one of the key end-users of liquid oxygen, using it in various medical applications, such as respiratory therapy, anesthesia, and cryosurgery.
For instance, Linde extends innovative mobile packaged oxygen to medical fraternity and hospitals in Malaysia.
Moreover, liquid oxygen is used in anesthetic procedures as well as used in life support systems for critically ill patients, such as those in intensive care units (ICUs). These systems deliver a high concentration of oxygen to the patient's lungs, which helps improve their breathing and can save their life leading to the huge demand for Malaysia liquid oxygen market.
Additionally, liquid oxygen is used in the steel production process to remove impurities and increase the quality of steel as well as liquid oxygen is also used in metal cutting and welding processes. Moreover, liquid oxygen is used in furnace heating in the steel industry as the furnace is used to heat the steel to a temperature suitable for processing along with this liquid oxygen is used to burn off impurities from scrap metal, which is then used in the steel production process.
For instance, The LION GROUP operates Antara Steel Mills in Labuan, Malaysia which are equipped with modern facilities comprising electric arc furnaces, ladle furnaces, and 6-strand continuous casting machines that use oxygen injection for increased furnace productivity and high carbon levels.
All these factors dominate the growth of the Malaysia liquid oxygen market in the upcoming years.
Increasing Demand for Vertical Storage Tank
The vertical storage tank 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. The cryogenic vertical-type storage tank is used for liquid oxygen as these tanks are powder and vacuum insulated in the annular space and equipped with various circuits to control product fill, pressure buildup, pressure relief, product withdrawal, and tank vacuum.
For instance, Linde group use Cryogenic Standard Tanks LITS 2 for storage and transportation of liquid oxygen.
However, the price of liquid oxygen is volatile resulting in changes in demand and supply which impact the profitability of the companies operating in the market resulting in
Recent Developments
- In 2023, Air Liquide signed a
record 52 new contracts for the on-site production of gases for its Industrial
Merchant business line in 2022.
- In 2023, Air Products to build
new Nitrogen plants and extend the pipeline network in Penang, Malaysia.
- In 2021, Air Liquide
finalizes the acquisition of the biggest oxygen production site in the world in
Secunda, South Africa.
Market Segmentation
Malaysia liquid oxygen market
Company Profiles
Air Liquide Malaysia Sdn Bhd, Air Products Malaysia Sdn Bhd, Ace Gases Marketing Sdn Bhd, Linde Malaysia Sdn Bhd, and KBS Industrial Gases Sdn Bhd
|
Attribute |
Details |
|
Base Year |
2022 |
|
Historic Data |
2018 – 2021 |
|
Estimated Year |
2023 |
|
Forecast Period |
2024 – 2028 |
|
Quantitative Units |
Revenue in USD Million, Volume in Units, and CAGR for 2018-2022 and 2023-2028 |
|
Report Coverage |
Revenue forecast,
volume forecast, Company shares, competitive landscape, growth factors, and trends |
|
Segments Covered |
Type End User |
|
Region Scope |
East Malaysia,
West Malaysia |
|
Key Companies Profiled |
Air
Liquide Malaysia Sdn Bhd, Air Products Malaysia Sdn Bhd, Ace Gases Marketing
Sdn Bhd, Linde Malaysia Sdn Bhd, KBS Industrial Gases Sdn Bhd |
|
Customization Scope |
10% free report customization with purchase. Addition
or alteration to country, regional & segment scope. |
|
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Options |
Avail customized
purchase options to meet your exact research needs. Explore purchase options |
|
Delivery Format |
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and Excel through Email (We can also provide the editable version of the report
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