Industrial gases are gaseous materials that are manufactured for use in the industry. The principal industrial gases available are oxygen, nitrogen, helium, acetylene, argon, hydrogen, carbon dioxide and others (krypton, xenon, methane, carbon monoxide, etc.).
The global economy has grown faster in 2016 than it did in the year 2015 and economic experts predict that the trend is expected to continue at least coming few years. Industrial production has been showing positive sings across North America and Europe region and growing in Asia Pacific region. Moreover, growth in the emerging economies will remain the most important driver of global economic trends over the coming years. Demand from applications in energy, the environment, healthcare and electronics industries is expected to stimulate the global industrial gases market growth in the long-term.
On the basis of application, the global industrial gases market is segmented into automotive & aerospace, chemicals and petrochemical, energy and oil & gas, food and beverage industry, medical and pharmaceuticals, metallurgy and metal working industry, mining, transportation and others. Market size and forecast of each application and product type is presented for the period 2015 to 2025 along with respective CAGR % for the forecast period 2017-2025.
The market size and forecast for the period 2015-2025 along with the CAGRs for the period 2017-2025 for the mentioned segments are also presented in this study.
Qualitative information sets such as market dynamics (drivers, challenges and opportunities) and market inclination insights are provided in this market assessment report. Tools such as market competition analysis and attractive investment proposition are also included in this study for assessment of overall market competition. The report concludes with company profiles section that highlights key information about the major market players operating in the global industrial gases market.
Air Liquide S.A., Air Products and Chemicals Inc., Air Water Incorporation, Airgas Inc., BASF SE, Buzwair Industrial Gases Factories, Linde Group, Messer Group, Praxair Inc., Taiyo Nippon Sanso Corporation, Yingde Gases Group Company Limited are among the few key manufacturers in industrial gases market.
Purpose of the Report
The purpose of this strategic research study titled “Industrial gases Market - Growth, Opportunities, Share & Competitive Analysis, 2017 – 2025” is to offer industry investors, company executives, and industry participants with in-depth insights to enable them make informed strategic decisions related to the opportunities in the industrial gases market.
Target Audience
USP and Key Offerings
The report titled “Industrial gases Market - Growth, Opportunities, Share & Competitive Analysis, 2017 – 2025” offers strategic insights into the overall industrial gases market along with the market size, and estimates for the duration 2017 to 2025. The said research study covers in-depth analysis of multiple market segments based on product type, applications and cross-sectional study across different regions.
In order to help strategic decision makers, the report also includes competitive profiling of the leading players in industrial gases market in terms of their product portfolio, financial health and business strategies. Other in-depth analysis provided in the report includes:
Overall, the research study provides a holistic view of the industrial gases market, offering market size and estimates for the period from 2015 to 2025, keeping in mind the above mentioned factors.
By product, industrial gases market segmentation includes oxygen, nitrogen, helium, acetylene, argon, hydrogen, carbon dioxide and others (krypton, xenon, methane, carbon monoxide, etc.); of which, in 2016, hydrogen gas dominated the market in terms of revenue contribution and is further expected to remain dominant during the forecast period of 2017 to 2025. In 2016, segment accounted for more than 18% of total market share. Some of the major application areas of these industrial gases are metallurgy and metal working applications, pharmaceutical and chemical manufacturing, and food and beverages processes.
Oxygen is used to improve the reaction rates in the chemical industry. Oxygen enhances the biological activity of microorganisms in the food and beverage industry, and biotechnology industry. In several chemical processes carbon dioxide is used as raw material. Hydrogen and methane are used for chemical production and combustion processes. Moreover, nitrogen, helium, carbon dioxide, and argon are used as inert gases in several applications, such as maintenance of controlled room environment, welding and manufacturing of non-flammable devices.
Among considered applications, metallurgy and metal working industry segment holds the largest market share in 2016 at more than 20% of total demand for industrial gases and is expected to maintain its dominance through the forecast period. Growing use of high quality gas solutions in aerospace industry; and developing pharmaceutical, food and beverage industries in the emerging economies, such as China, India, and Brazil is a key factor driving growth industrial gases market, during the forecast period. Some of the other factors fuelling the industrial gases market growth include increasing refinery output particularly in countries, such as China and India. Furthermore increasing use of industrial gases in automotive & aerospace industries is likely to boost the demand in upcoming years.
In base year 2016, Asia pacific and Europe were the largest regional markets for industrial gases. In Asia Pacific, China and India serve potential markets for industrial gases in the next five to six years. Growing consumption of industrial gases in metallurgy and metal working industry and oil & gas sector especially in China and India, along with commercialization measures for industrial gases in various end-use industries is likely to fuel the industrial gases market growth. Also, the market is estimated to lose its share in developed regions to developing regions in the next few years.
Asia-Pacific accounted for the largest share in the global industrial gases market in 2016, with more than 33% market share in 2016 and it is also anticipated to witness the highest growth rate during 2017 - 2025.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Industrial Gases market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
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| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
