Market Research Future Published an Upcoming Research Report on Industrial Gases Market Research Report
Market Overview:
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.
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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.
Market Segmentation:
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.
Regional Analysis:
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.
Key players:
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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Market Snapshots
Industrial Gases are gaseous materials which are produced in large quantities for use in multiple manufacturing processes. Industrial gases are valued for their reactivity, inertness and other superior physical properties. Industrial gas demand across the globe is likely to increase and represent considerable growth over the next couple of years, projects Market Research Future (MRFR) in a detailed research report. Industrial gases are used in a myriad of applications across diverse industries. Industrial production has been showing positive signs across Europe and the Americas while the emerging economies are picking up rapidly which remains the key driver of the market. In addition to expected growth in industrial production, surging demand for industrial gases from applications in the energy, food & beverage, healthcare, electronics, and oil & gas industry sustains the growth of the global industrial gases market.
Industrial gases experience massive demand from the oil & gas industry. Refineries require vast quantities of industrial gases to control various processes. Moreover, stringent environmental norms lowering permissible sulfur content of refinery products has challenged refining operators to desulfurize crude which poses opportunities for the growth of the industrial gases market. Industrial gases find major applications in the food & beverages industry.
Consumers are progressively eyeing for alternatives to conventional preservation techniques which is providing indispensable growth prospects to food-grade industrial gases. Food-grade industrial gases such as carbon dioxide act as an effective and natural way of preventing food products from moisture degradation or oxidation. Industrial gases are such as oxygen, nitrogen, carbon dioxide, and various gas mixes are used by healthcare professionals in applications ranging from respiratory care to anesthesia.
However, industrial gases business is capital intensive and requires enormous investment which might be a limiting factor in the growth of the market. Emerging economies present a host of growth opportunities to the global industrial gases market. Developing countries such as China and India are endeavoring to increase their production capabilities in diverse industries such as metals, oil & gas, construction, and healthcare which induces high demand for industrial gases.
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Report Overview
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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