Industrial Gases
Market Insights:
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. Global industrial
gases market 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.
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.
Leading 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.
Drivers and
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.
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.
Industrial Gases
Market 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
industrial gases market in the North America region is majorly driven by the
high demand for industrial gases in rapidly developing automotive and
construction industries in this region. The industrial gases market in the Asia
Pacific region is expanding at a significant growth rate owing to the increased
production activities for the export of industrial gases and also due to
increasing use of basic oxygen furnace technology by major metal and metallurgy
companies which is increasing the consumption of industrial gases in this
region. Rise in production capacity of various end-use industries such as
chemicals, metals, food and beverages, healthcare and construction are inducing
high demand for industrial gases, which in turn is propelling the growth of
industrial gases market in the Europe region.
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