Gases such as Oxygen, hydrogen, nitrogen, and carbon dioxide are the most common gases used as industrial gases. Other industrial gases include argon, neon, xenon, and krypton. Industrial gases are distributed to the end-use industries in liquefied form through gas tankers. These gases are generally manufactured from cryogenic filtration of air through air separation units (ASU).
The global industrial gases market is anticipated to grow as a result of increasing demand in the metal industry, chemicals, healthcare, energy, and other sectors. These drivers are supported by the high rise in demand from emerging economies such as China and India. Rapid industrialization and rising demand in automotive, chemicals, electronics and heavy machinery along with technological developments in the market have propelled the growth of the global industrial gases industry.
In addition, the factor such as growth in metal manufacturing and processing industries such as oil & gas, food & beverages, and so on drive the growth of the industrial gases market. Furthermore, rising demand for high-grade industrial gases in healthcare is anticipated to provide lucrative growth opportunities for the industrial gases market.
“Global Industrial Gases Market was Valued at US$ 90.1 Bn in 2018 and it is Expected to Reach More than US$ 144.6 Bn by 2027, Likely to Grow with the CAGR of 5.4% During the Forecast Period.”
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The oxygen segment is expected to dominate the industrial gases market during the forecast period. Oxygen was the largest product segment, accounting for over xx % of global revenue share in 2018 and this trend is expected to continue over the forecast period. Oxygen gas finds its wide applications in the metallurgy industry, such as welding, fabrication and other processes. Asia Pacific region dominated the industrial gases market in the country owing to various upcoming metallurgical projects along with the presence of major steel production units in this region. In addition, the healthcare and medical sectors are also found the major applications of oxygen.
The Asia Pacific accounted for the largest market for industrial gas over 30% of the global industrial gases market and this trend will continue for the next few years. The fastest growth is attributed to the high demand for industrial gases in the chemical, pharmaceutical and steel industry along with the large population and rapid industrialization in the region. In addition, the high demand for gaseous mixtures in steel and polymer industries is supporting the growth of the industrial gases market in the region
The industrial gases market has been dominated by large players of the gases industry such as Air Liquide S.A., Airgas, Inc., The Linde Group, and Messer Group GmbH. Some of the key players in the global Industrial Gases market are Southern Gas Ltd., Universal Industrial Gases, Inc., Gulf Cryo, International Industrial Gases Limited, Goyal MG Gases Pvt. Ltd., Ellenbarrie industrial Gases, MVS Engineering Pvt. Ltd., and National Gases Ltd.
Impact of COVID-19 on Economy, Industry and Company
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in demand & supply gap, production delay and weak consumer demand of end products across industries.
At Bizizz Market Research, our analyst has done extensive research across industries and identified various methodologies which would assist C-Level executives to counter this ongoing threat and make informed business decisions.
Areas at which Bizizz Market Research would help decision makers are:
a) Insights on current demand & supply gap analysis
b) Impact on value chain and supply chain and strategies adopted to off set its impact
c) Impact on Industry / company revenue and predictive intelligence on forecast sales
d) In-depth analysis on market segmentation – both value and volume analysis
e) Market assessment, regional
and country attractiveness, competitive benchmarking
and entry strategy
f) Prioritizing strategies and
how it would impact company’s short to long-term business
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