Cars powered by hydrogen gas are being produced by some automobile manufacturers driving demand for this industrial gas. These cars produce lower emissions than traditional vehicles, as the only emission from the car is water either in the form of water vapor or droplets there are no emissions of carbon dioxide, nitrogen or particulates. Consumers’ preference for alternative fuel vehicles is driving the demand for hydrogen powered vehicles and hydrogen gas. For example, Toyota launched hydrogen-electric fuelled Mirai car in October 2015 thereby indicating the possibilities for increases in hydrogen gas demand through the automobile industry.
THE BUSINESS RESEARCH COMPANY EXPECTS THE INDUSTRIAL GAS MARKET TO GROW TO $62 BILLION BY 2021
Asia Pacific was the largest region in the industrial gas market in 2017, accounting for two-fifth of the market share
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According to The Business Research Company’s Consultant, Nitin Gianchandani, the food and beverage industry is increasingly utilizing food-grade industrial gas. Food grade industrial gases include nitrogen, oxygen, and carbon dioxide which are used to chill, freeze and package a variety of food products such as dairy and frozen products, beverages, fruits and vegetables, meat, fish, seafood, convenience foods, bakery and confectionery. Health-conscious consumers are also demanding fewer additives, safer and fresher food products, so increasing the demand for industrial gases which can sometimes be used in place of chemical ingredients.
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The Linde Group was the largest player in the global industrial gas market in 2017 with revenues of $16.5 billion for the financial year 2016. The company’s growth strategy aims at increasing its production by expanding its production facilities. In 2016, Linde invested more than $100 million to construct new air separation plant and expand its production capacities in Claymont, Delaware. In 2017, the company started the construction of new air separation unit in Tanjung Kidurong, East Malaysia. The company also invested to expand its current air separation plant in the Philippines and construct a new nitrogen liquefaction plant in Apalit Pampanga.
Industrial gases are also referred to as bulk gases or commodity gases; they are produced in relatively large quantities by companies for use in a variety of industrial manufacturing processes. The industrial gas industry comprises establishments primarily engaged in manufacturing industrial organic and inorganic gases in compressed, liquid, and solid forms.
Industrial Gas Global Market Report 2018 is a detailed report giving a unique insight into this market. The report is priced at $4000 for an individual user. To use across your office, the price is $6000 and $8000 if you wish to use across a multinational company.
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