Industrial
Gas Market - Overview
Industrial gases find
application in a myriad of industrial and manufacturing processes owing to
their reactivity, inertness, and various other superior physical properties.
Market Research Future (MRFR) has recently published an in-depth report on the
global industrial gases market, outlining the various trends and patterns that
are likely to impact the market over the forecast period. MRFR has predicted a
positive growth curve for the industrial gases market.
The Industrial Gas Market is expanding owing to heightened demand for
industrial gases filed from industries such as metal fabrication and
production, automotive, chemical & petrochemical, biotechnology, steel, and
others. Increased industrial activities in the emerging economies have provided
favorable grounds for the growth of the market while industrial production in
developed regions such as the Americas and Europe has also been positive.
Industrial gases cater
majorly to the oil & gas industry, which requires industrial gases in
massive quantities to control various processes. additionally, the industry is
challenged with regulatory pressures to lower sulfur content of refinery
products, which generates huge demand for industrial gases in the
desulfurization process of crude. This presents a massive opportunity for the
industrial gases market. The advent of cryogenic technologies such as air
separation and hydrogen reforming technologies have contributed significantly
to the growth of the market.
On the other hand,
industrial gases market growth might be inhibited by the capital-intensive
nature of the market. Additionally, the manufacturing and utilization of
industrial gases are strictly regulated by stringent regulations. Storage and
transportation of industrial gases too involve significant cost as well as a
challenge which might restrain the growth of the market. However, the emerging economies of the APAC
region are likely to provide a host of opportunities to the market.
Competitive
Landscape
Praxair Inc., Airgas Inc.,
Messer Group GmbH, Bhuruka Gases Ltd., National Industrial Gas Plants -
Mohammed Hamad Al Mana Group, Buzwair Industrial Gases Factory, Yateem Oxygen,
Taiyo Nippon Sanso Corporation, Air Products and Chemicals Inc., Air Liquide
S.A., Air Products, BASF, Dubai Industrial Gases, Tripti Gases Pvt. Limited,
Asia Technical Gas Co (PTE) LTD (ATG), SICGIL India Limited, Ellenbarrie
Industrial Gases Ltd.,Cryotech Anlagebau GmbH, India Glycols Ltd.,MATHESON
Tri-Gas Inc., Ellenbarrie Industrial Gases Ltd., Gulf Cryo, Linde AG, The
Southern Gas Ltd., Bristol Gases – Concorde Corodex Group, Goyal MG Gases Pvt.
Ltd., Abdullah Hashim Industrial Gases & Equipment Co. Ltd., and Mohsin
Haider Darwish LLC are the key players in the industrial gases market.
Industrial
Gas Market Segmentation
The global industrial gas
market has been segmented based on type and application.
By type, the industrial
gases market has been segmented into oxygen, helium, nitrogen, hydrogen, carbon
dioxide, acetylene, argon, and others.
By application, the
industrial gases market has been segmented into healthcare, metal and
metallurgy, chemicals, pharma and biotech, automotive and aerospace,
electronics, pulp and paper, food and beverages, and others.
Regional
Analysis
Region-wise, the industrial
gases market has been segmented into North America, Rest-of-the-World (RoW),
Europe, and Asia Pacific (APAC).
High demand for industrial
gases is witnessed in North America on account of augmented demand from the
automotive and rapidly accelerating construction industry. The APAC industrial
gases market is likely to showcase prolific growth over the forecast period.
Fast-track industrialization in the region along with increasing use of
necessary oxygen furnace technology by major metal and metallurgy companies is
creating significant ways for the market to expand.
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