This MRFR study presents complete research on key trends in the global industrial gases market and an outlook for industrial gases sub-markets across regions (North America, Asia Pacific, Europe, and the Rest of the World) where the market is likely to witness significant growth during the review period. It also includes a market assessment of major types of industrial gases (oxygen, helium, nitrogen, hydrogen, carbon dioxide, acetylene, argon, and others). The study finds that industrial gases find application in healthcare, metal and metallurgy, pharma and biotech, chemicals, automotive and aerospace, electronics, pulp and paper, food and beverages and other industries.
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Industrial gases are produced in relatively large quantities and are utilized for variety of industrial purposes. The principal industrial gases are nitrogen, oxygen, argon, hydrogen, carbon dioxide, helium and acetylene. Market Research Future (MRFR) has published a detailed report stating that the global industrial gases market is anticipated to expand at a significant growth rate in the forthcoming years.
Market Drivers and Restraints:
Industrial gases are extensively utilized in various end-use industries such as metal and metallurgy, healthcare, chemicals, automotive, aerospace, food and beverages and others. Metal manufacturing activities have increased exponentially in the last few years. With rapid adoption of advanced technologies and new techniques by the manufacturers for steel production, there has been a significant rise in the demand for oxygen. Adoption of gas metal arc welding process by manufacturers in order to improve the quality and productivity is one of the major factors that are driving the global industrial gases market towards higher verticals
The development of cryogenic technologies such as air separation and hydrogen reforming technologies are acting as the cornerstone for the expansion of industrial gases market, globally. Utilization of industrial gases for packaging and other purposes in food and beverages industry and high demand or gases such as argon and oxygen for metal fabrication purposes in the automotive and aerospace industries are resulting in the significant growth of the global industrial gases market.
Use of cryogenic distillation for production of oxygen in large quantities is fueling the commercial demand for oxygen in the global market, which in turn is propelling the growth of the global industrial gases market. High demand for liquefied gases such as liquid nitrogen, LPG, carbon dioxide and others has created potential opportunities for the expansion of the global industrial gases market. However, strict regulatory framework regarding the manufacturing and utilization of industrial gases and high transportation and storage associated with these gases are likely to restrain the growth of the global industrial gases market in the coming years.
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The global industrial gas market has been segmented on the basis of gas type and application. Based on gas type, the industrial gases market has been segmented into oxygen, helium, nitrogen, hydrogen, carbon dioxide, acetylene, argon and others. Based on application, the industrial gases market has been segmented into healthcare, metal and metallurgy, pharma and biotech, chemicals, automotive and aerospace, electronics, pulp and paper, food and beverages and others.
The region-wise analysis of the global industrial gases market includes four major regions such as 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.
The prominent players that are operating in the global industrial gases market are 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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