Global Industrial Gases Market Scenario:
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. Global Industrial Gases Market is recorded to grow exhibiting a higher CAGR of by 2023 on account of rising demand filed from chemical & petrochemical, metal fabrication & production, automobile, healthcare & pharmaceuticals, and food & beverage industries and more. Market Research Future has published this report covering essential accruals based on the latest trend, market valuation, estimated growth graph, growth pattern, challenges, driving factors for market growth and regional shares distribution.
The market is expanding owing to heightened demand for industrial gases filed from industries such as metal fabrication and production, automotive, chemical & petrochemical, biotechnology, steel, and others. Increased industrial activities in the emerging economies have provided favourable grounds for the growth of the market while industrial production in developed regions such as the Americas and Europe has also been positive.
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The bulging players that are operating in the global industrial gases market are listed as 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.
The Industrial Gas Market 2020 resonates promising opportunities. Industrial gases are used in large quantities across manufacturing processes. The characteristics that influence their applications include reactivity and inertness among others. The superior physical properties of these gases are poised to increase their demand over the next few years. The demand is assessed to exhibit considerable growth in the foreseeable future. Industrial production across the work is seen to grow on account of economic developments. Industries being the backbone of the economy receives grants and support from governments. Rising investments in industrialization is presumed to drive growth of the industrial gases market.
Growing oil & gas production and processing activities in developing regions are also anticipated to fuel demand for industrial gases globally. Industrial production has been showing positive signs, while the emerging economies are accepting it rapidly, hence remaining the key driver of the market. Also, it is expected that the growth in industrial production is positive with swelling demand for industrial gases from food & beverage, healthcare, electronics, and oil & gas industry is eventually sustaining the growth of the global industrial gases market.
The global industrial gas market also is benefitting from the perspective of consumer demand for freshness in food products. In recent times, health-conscious consumers are on the verge of demanding fewer additives and fresh food products, which surges the demand for industrial gases. As a result of it, the food and beverage industry are buying increasing quantities industrial gases which are used to freeze and package a variety of food products such as dairy and frozen products, beverages, fruits, vegetables, meat, fish, seafood, convenience foods, bakery, and confectionery.
Global Industrial Gases Market Segmentation:
According to the reports published by MRFR, the global Industrial Gases Industry has been segmented based on gas type and application.
By the mode of gas type, the industrial gases market comprises of oxygen, helium, nitrogen, hydrogen, carbon dioxide, acetylene, argon, and others.
By the mode of application, the industrial gases market comprises of healthcare, metal and metallurgy, pharma and biotech, chemicals, automotive and aerospace, electronics, food and beverages and more.
Region-wise, the industrial gases market has been segmented into North America, Rest-of-the-World (RoW), Europe, and Asia Pacific (APAC).
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.
June 2019 – Air Liquide China, supplier of industrial gases and services to various industries, announced agreement to sell its subsidiary integrated gas complex Air Liquide Fuzhou to Fujian Shenyuan New Materials. The industrial gases complex includes a coal gasification unit, an air separation unit, an ammonia plant, and a synthetic gas purification unit.
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