Industrial Gases Market Overview
Industrial Gases Market share is expected to grow at a significant CAGR of 6.16% during the projected period.
Industrial gases refer to gases such as Oxygen, carbon-di-oxide, Helium, Acetylene, Nitrogen, Argon, and Hydrogen that are utilized for industrial purposes. These gases are also popular as medical gases, fuel gas, and refrigerant gases according to their use in different industries. The manufacture of industrial gases is done through cryogenic filtration of air using separate air units. The supply of these gases is done to the end-users in the form of liquid or gas through gas tankers. The usage of industrial gases has increased in the industries like food and beverages, metals, construction, and mining. This factor has helped in boosting the industrial gas market towards growth.
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The rise in the consumption of crude oil consumption and its refinement has created new opportunities for the industrial gases industry. Due to the pollution in the environment, the requirement of refining the crude form came into existence. Many people are looking for alternatives to traditional preservations in the food sector. This has increased the development opportunities of industrial gas related to the food sector. The usage of gases like oxygen, nitrogen, and carbon-di-oxide is increasing in the medical sector. Oxygen present in excess quantity in lungs or body tissue is removed during surgery and an artificial breathing facility is provided to the patient. The oxygen demand was more during the pandemic situation of COVID’19. Carbon-di-oxide in combination with oxygen for respiratory stimulations. Nitrogen is utilized to find out the individual's capacity to withstand the simulated airplane cabin environment. It is done as a part of lung diagnostics.
The industrial gas market can be segmented based on application, type, end-users, and regions. According to the application category, the market is further divided into segments like Chemicals, Pharma, Biotech, healthcare, automotive, metallurgy, and aerospace. The type category is divided into segments like Oxygen, carbon-di-oxide, Helium, Acetylene, Nitrogen, Argon, and Hydrogen. The end-user category consists of segments like cylinder, on-site, and bulk. The regional category consists of segments like Europe, Asia-Pacific, North America, and the Rest of the world.
According to the regional category, Asia-Pacific is dominating the market because of the huge demand for quality gas solutions in the aerospace sector. According to the type category, the demand for the oxygen segment is more and this contributes to the maximum share of the market. All other categories have their respective contribution to the market growth.
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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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