Global Industrial Gases Market size is projected to be valued $82 Billion by 2024; with a CAGR of 6.4% from 2017 to 2025. Industrial gases are formed in bulk and are available in all the three states of matter (liquid, solid, gas). Growth in industries such as automobile and construction has increased the industrial gas production. In addition, other industries also demand industrial gases owing to their various chemical properties such as inertness and reactivity.
Rising demand for packed food & beverages, globalization of the industry, resource constrains, and growing demand about medical grade gases for medical and health care industry are the factors driving the growth of the industrial gases market. Though, the growing environmental rules associated to the manufacture and usage of industrial gases and high cost of transport & storage of these gases may hinder the growth of the market. Moreover, capacity expansion and development of innovative technologies like molecular sieve separation might provide with several growth opportunities in the forecasted years.
The global industrial gases market is segmented on the basis of products type, production and delivery, application, and geography. The market is segmented by products type into hydrogen, oxygen, carbon dioxide, nitrogen, helium, argon, and acetylene. Further by production and delivery, the market is bifurcated into merchant gases (liquified, tank delivery), merchant gases (cylinder delivery), and high-volume gases (on-site generation). Further, application segment comprises petroleum refinery, chemical production, food processing, healthcare, electronics, metal processing, and other applications.
Based on geography, global industrial gases market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexico whereas Europe segment consist of UK, Germany, France, Spain, Italy, and Rest of Europe. Asia-Pacific is segmented into China, Japan, India, South Korea, and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.
The key market players operating in industrial gases market include The Linde Group, Messer Group GmbH, Taiyo Nippon Sanso Corporation, BASF SE, Yingde Gases Group Company, AIR WATER INC., and Buzwair Industrial Gases Factories, among others.
The report covers
Scope of the Global Industrial Gases Market
Products Type Segments
Production and Delivery Segments