Industrial
Gases Industry Insights
Global
Industrial
Gases Industry is recorded to grow exhibiting a higher CAGR of by 2023
on account of rising demand filed from chemical & petrochemical, metal
fabrication & production, automobile, healthcare & pharmaceuticals, and
food & beverage industries and more. Market Research Future has published
this report covering essential accruals based on the latest trend, market
valuation, estimated growth graph, growth pattern, challenges, driving factors
for market growth and regional shares distribution.
Industrial
gases are defined to be specific gaseous materials that are produced for
industrial purposes. The most prominent are listed to be as oxygen, nitrogen,
carbon dioxide, helium, and hydrogen, although various other mixtures, which
are also manufactured and provided as gas cylinders. At times, several
industries such as steel, oil and gas, chemicals and petrochemicals,
biotechnology, medicine, environmental protection, and nuclear power require
such customized gases. Hence, the market for the same is feeding off the
prosperity of each of them.
Global
Industrial Gases Industry Drivers & Trends
The
analyst of the report has also stated that several vendors, who are the major
market players in the global industrial gases are steadily mounting, which is
making the market a competitive one.
Expansion of refinery capacities, increasing consumption of chemicals
& petrochemicals and rising adoption of enhanced oil recovery (EOR)
techniques in oil & gas sector are few of the primary factors boosting
growth in the global industrial gases market. Further, rising passenger car
sales are also anticipated to propel industrial gases demand in automobile
sector across the globe during the forecast period.
Growing
oil & gas production and processing activities in developing regions are
also anticipated to fuel demand for industrial gases globally. Industrial
production has been showing positive signs, while the emerging economies are
accepting it rapidly, hence remaining the key driver of the market. Also, it is
expected that the growth in industrial production is positive with swelling
demand for industrial gases from food & beverage, healthcare, electronics,
and oil & gas industry is eventually sustaining the growth of the global
industrial gases market.
The
global industrial gas market also is benefitting from the perspective of
consumer demand for freshness in food products. In recent times,
health-conscious consumers are on the verge of demanding fewer additives and
fresh food products, which surges the demand for industrial gases. As a result
of it, the food and beverage industry are buying increasing quantities
industrial gases which are used to freeze and package a variety of food
products such as dairy and frozen products, beverages, fruits, vegetables,
meat, fish, seafood, convenience foods, bakery, and confectionery.
Global
Industrial Gases Industry Segmentation
According
to the reports published by MRFR, the global industrial gas market has been
segmented based on gas type and application.
By
the mode of gas type, the industrial gases market comprises of oxygen, helium,
nitrogen, hydrogen, carbon dioxide, acetylene, argon, and others.
By
the mode of application, the industrial gases market comprises of healthcare,
metal and metallurgy, pharma and biotech, chemicals, automotive and aerospace,
electronics, food and beverages and more.
Regional
Outlook
Region
wise, the global industrial gases market is analyzed in the regions namely Asia
Pacific, North America, Europe and the rest of the world.
The
report thus analyzes that the industrial gases market in the North America
region is obsessed by the high demand for industrial gases in the automotive
and construction industries mainly, as they are rapidly developing in the
current period. Whereas, the industrial gases market in the Asia Pacific region
is expanding at a significant growth rate owing to the increased production
activities such as export of industrial gases and increasing use of necessary
oxygen furnace technology by major metal and metallurgy companies. These
activities are required with increasing consumption of industrial gases, which
is creating significant ways for the market to grow. With that, significant
rise in production capacity of various end-use industries such as chemicals,
metals, food, and beverages, healthcare and construction are also demanding for
industrial gases at a higher level, which in turn is boosting the growth of
industrial gases market in Europe.
Key
players:
The
bulging players that are operating in the global industrial gases market are
listed as Air Liquide S.A., Linde AG, Air Products, Praxair Inc., BASF, Gulf
Cryo, Airgas Inc., Air Products and Chemicals inc., Taiyo Nippon Sanso
Corporation, Ellenbarrie Industrial Gases Ltd., Messer Group GmbH, The Southern
Gas Ltd., MATHESON Tri-Gas Inc., Cryotech Anlagebau GmbH, Abdullah Hashim
Industrial Gases & Equipment Co. Ltd., Mohsin Haider Darwish LLC, Bhuruka
Gases Ltd., Asia Technical Gas Co (PTE) LTD (ATG), Buzwair Industrial Gases
Factory, Bristol Gases – Concorde Corodex Group, National Industrial Gas Plants
- Mohammed Hamad Al Mana Group, Yateem Oxygen, Dubai Industrial Gases, India
Glycols Ltd., Tripti Gases Pvt. Limited, SICGIL India Limited, Ellenbarrie
Industrial Gases Ltd., and Goyal MG Gases Pvt. Ltd.
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