Latin America Air Separation Plant Market Outlook

the latin america air separation plant market outlook of 2018 to 2032 provides an overview of the industry's performance and how it is likely to develop over that time period. the industry has been forecasted to experience a strong period of growth, with a 3.3% cagr estimated for the next 14 years on the back of increasing population growth, rising industrialization, and heightened government emphasis on clean energy. this would help to bring more energy to remote areas and support economic development in countries across the region. the latin america air separation plant market outlook is underpinned by rising demand from the power sector, wherein air separation is considered to be a critical aspect of the production process. dependency on natural gas to generate power is likely to be a key factor driving the market further, as air separation and gasification are closely connected and the region is home to numerous natural gas exploration projects. in addition, the industry is likely to benefit from continued efforts by the government to promote the adoption of renewable energy and force development of clean technologies, which are likely to create further opportunities for the market in the coming years. within the latin america air separation plant market outlook, advancements in gasification systems that are more efficient, reliable, and cost-effective are expected to promise greater levels of market penetration. this was seen in 2017, with modular fundamental air separation technology being implemented for small-scale operations to reduce high upfront costs associated with traditional systems. growing investments in medium pressure and low-pressure systems are also expected to drive growth in the market. the latin america air separation plant market outlook also reveals that companies are likely to seek out opportunities for strategic mergers and acquisitions, with increasing pressure to expand product portfolios and improve market position. this is likely to be supported by the region's well-established infrastructure and its availability of renowned international suppliers. furthermore, technological adoption of air separation plants in latin america is expected to become increasingly frequent, particularly in the power sector on account of its growing significance in the production process.