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. Adapting to the recent novel COVID-19 pandemic, the
impact of the COVID-19
on Industrial Gases Market is included in
the present report.
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.
Global Industrial
Gases Market 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. 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.
Moving forward, industrial gases are experiencing a
massive demand from the oil & gas industry as refineries require vast
quantities of industrial gases to control various processes. Moreover, some
essential yet stringent environmental norms are lowering permissible sulfur
content of refinery products, which in turn, has challenged refining operators
to desulfurize crude. This poses a significant opportunity for the growth of
the industrial gases market.
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.
Industrial Gases
Regional Industry 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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