Acumen Research and Consulting estimates that global Industrial Gases market is expected to reach the market value of around US$ 105 Bn by 2027 and is anticipated to grow at a CAGR of around 5.9% in terms of revenue during the forecast period 2020 – 2027.
The word "industrial gasses" refers to the gasses generated for use in industry. The industrial gasses in particular include oxygen, nitrogen, carbon dioxide, hydrogens, argon, acetylene, and helium. In gas cylinders a wide range of industrial gasses and mixtures are given. Few manufacturing gases that are supplied to gas cylinder facilities include oxygen for surgical uses, ballon helium, welding gases and construction equipment, beer keg gasses and LPG. A wide range of small hand-carried gas tanks are also available for the supply of industrial gas.
The report provides analysis of global Industrial Gases market for the period 2016-2027, wherein 2020 to 2027 is the forecast period and 2019 is considered as the base year.
Industrial gasses are used in a variety of uses in different fields. Industrial growth in Europe and America shows promising indicators, though developing markets are steadily growing which continues to be the main driver of the market. Appliances in the, food and beverage, energy, electronics, healthcare, and petroleum & gas industry are supported by increased demand for industrial gases as well as increases in industrial production and support the global market for industrial gas. Significant competition from the oil and gas industry is faced in industrial gases. In order to monitor various processes, refineries need vast amounts of industrial gases. In addition, strict environmental standards which reduce the permitted sulfur content of refinery products have challenged refinery operators to desulfurize crude oil which offers opportunities for the growth of the industrial gas industry. Major applications in the food and beverage industry are seen with industrial gases. Consumers are increasingly searching for alternatives to conventional conservation strategies that offer critical prospects of growth to industrial food-grade gasses. The efficient and natural avoidance of moisture loss or decay by foodstuffs such as carbon dioxide is achieved by industrial gases. Industrial gasses are used by health care professionals in applications from respiratory care to anesthesia, such as nitrogen, oxygen, carbon dioxide and different gas mixes. However, the sector of industrial gas is capital-intensive and needs tremendous investment, which may hinder market expansion. Emerging markets give the global industrial gas industry a range of growth opportunities. Developing countries, like China and India, strive to expand production capacity in various industries such as metals, petroleum & gas, construction and health, resulting in high demand for industrial gases.
Asia Pacific region is anticipated to dominate the market led by China. Across developed countries such as India and China a significant increase has been noted in the domestic use of these industrial gasses. It is expected to lead to strong growth in industrial gas demand in Asia Pacific in the immediate future. After Asia Pacific, the North America and Europe dominate the industrial gas market.
The market research study on “Industrial Gases Market (Industrial Gases Market By Type: Oxygen, Nitrogen, Carbon Dioxide, Neon, Hydrogen, Krypton, Argon; Industrial Gases Market By Application: Petrochemical, Mining, Oil & Gas, Chemical, Nuclear Power, Pharmaceutical, Electronics, Others) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027” offers a detailed insights on the global Industrial Gases market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report also provides competitive landscape to understand the current stance of particular player. The report covers global Industrial Gases market size, and segment markets by type, application, and geography along with the information on companies operating in the market. The Industrial Gases market analysis is provided for major regional markets including North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report.
The global Industrial Gases market is segmented as below:
Industrial Gases Market By Type
Industrial Gases Market By Application
Oil & Gas
Industrial Gases Market By Geography
Middle East & Africa
Key Players and Market Situation
Participants include major global players such Air Gass and Chemicals Inc., Air Liquide S.A., The Linde Group, Ellenbarrie Industrial Gases Ltd., The Southern Gas Ltd., India Glycols Ltd., Bhuruka Gases Ltd., Praxair Inc., SICGIL India Limited, Tripti Gases Pvt. Limited, Others.
Demand for metal manufacturing & fabrication is a key driver of the market.
The market value of Industrial Gases is anticipated to be around US$ 105 Billion in 2027.
It is anticipated to grow around 5.9% CAGR amid the forecast period 2020-2027.
The key players operating in industrial gases market such as Air Gass and Chemicals Inc., Air Liquide S.A., The Linde Group, Ellenbarrie Industrial Gases Ltd., The Southern Gas Ltd., India Glycols Ltd., Bhuruka Gases Ltd., Praxair Inc., SICGIL India Limited, Tripti Gases Pvt. Limited, Others.
Asia Pacific is projected to grow at a fast pace during forecast period 2020-2027.
Asia Pacific held maximum share in 2019.
Increasing environmental concerns.