The Global Industrial Gases Market is expected to reach US $ 7.53 billion by 2029, thanks to growth in the cryogenics segment. The report analyzes industrial gas market dynamics by region and applications.
Industrial Gases Market Overview:The industrial gases market was valued at US $ 3.19 Bn. in 2021, and it is expected to reach US $ 7.53 Bn. by 2029 with a CAGR of 11.32% during the forecast period. The gaseous compounds created for use in industry are known as industrial gases. Nitrogen, oxygen, carbon dioxide, argon, hydrogen, helium, and acetylene are the most common gases accessible in gas cylinders, but many other gases and mixes are also available. The industry that produces these gases is referred to as industrial gas, and it includes the supply of equipment and technologies for producing and using the gases. Petrochemicals, chemicals, oil and gas, power, mining, steelmaking, metals, environmental protection, medicine, pharmaceuticals, biotechnology, food, water, fertilizers, nuclear power, electronics, and aerospace are just a few of the industries that consume industrial gases. Industrial gas is sold to other industrial businesses, usually in big quantities to corporate industrial clients for projects ranging from the construction of a process plant or pipeline to cylinder gas delivery. To know about the Research Methodology :- Request Free Sample Report The report has covered the market trends from 2022 to forecast the market through 2029. 2021 is considered a base year however 2021's numbers are on the real output of the companies in the market. Special attention is given to 2021 and the effect of lockdown on the demand and supply, and also the impact of lockdown for the next two years on the market. Some companies have done well in lockdown also and specific strategic analysis of those companies is done in the report.
Global Industrial Gases Market Dynamics:Surging Consumption of Industrial Gases in the Oil & Gas Industry: Global demand for gases has risen in response to rising global crude oil demand and the requirement for refining. Drilling, well raising, coiled tubing, pipe inerting and cooling, leak testing, inspection, maintenance, subsea works, spool base for pipe building, shipbuilding, gas analysis, and a variety of other critical operations all employ industrial gases on a big scale in the oil and gas industry. Expansion of the oil and gas industry is expected to surge demand for these industrial gases in various activities, resulting in market development. Growing Applications of Gases: Various emerging and developed countries like Vietnam, China, the United States, Germany, and others have seen rapid increases in the pace of urbanization and industrialization, influencing market trends for industrial gases over the forecast period. As a result of urbanization, this industry is anticipated to benefit from the rapid increase in the creation of new facilities such as manufacturing and processing sectors. According to World Bank data, by the end of 2021, several top nations such as Italy, India, China, and Vietnam had roughly 71%, 34%, 60%, and 37% of their people living in urban areas, respectively. Furthermore, as the application industry grows, so likely the demand for industrial gases. Surging Capital Appreciation in the Manufacturing and Processing Industries: Growing public and private financing to explore new horizons across a variety of industry verticals, such as metallurgy, food and beverage, mining, and metal, is expected to uplift the worldwide industrial gases market size, particularly in emerging countries. For example, the United Nations Conference on Trade and Development (UNCTAD) published the World Investment Report 2021 in June 2021, noting that overall foreign direct investment (FDI) inflow into the Asia Pacific amounted to around US $474 billion in 2021, accounting for approximately 30% of worldwide FDI movement. According to the organization, countries like China, India, and other Southeast Asian nations like Singapore and Malaysia are on track to become the region's major economies, drawing new investment opportunities. Stringent Rules and Regulations: During the forecast period, strict laws and regulations governing the manufacturing, storage, and transportation of gases are expected to hamper market expansion. The composition of hydrocarbons for the storage and distribution of industrial gases was established by EU Regulation 231/2012. The European Agreement on the Carriage of Dangerous Goods by Road, ADR 13 regulation, was used to bind the carriage of these gases. Prices for industrial gases rose in Q4 2021 and Q1 2021 as a result of prolonged environmental inspections and resulting manufacturing plant closures, as well as significant rises in transit costs from China when markets recovered after COVID-19. Some enterprises have voluntarily reduced production to avoid fines for failing to fulfill emissions requirements. As a result, the rising global price of industrial gases is likely to be a major stumbling block to the market's growth over the forecast period. Cost Structure for Industrial Gases: • The high cost of energy in the separation of industrial gases makes it a significant cost element, accounting for 50% of the total production cost. • Because electricity accounts for almost 50% of the cost of production, the cost of production swings with power costs. The weighting of cost components may vary depending on individual parameter price changes in each country. • The price of crude oil is expected to rise, putting upward pressure on distribution costs. The price of electricity is also predicted to rise modestly, increasing production costs. • When compared to smaller isolated ASUs for producing industrial gases independently, large-scale operations give cheaper production costs per unit of gas. • Due to the high capital expenditures of ASUs, major industrial customers must choose long-term gas purchase contracts (3 years for bulk liquid and 15 years for tonnage).
Global Industrial Gases Market Segment Analysis:Based on Type, the industrial gases market is segmented as, nitrogen, argon, oxygen, hydrogen, carbon dioxide, and others. In 2021, the oxygen segment was dominant and held xx% of the overall market share in terms of revenue as it is widely used in oxygen scarfing, gas welding, gas cutting, flame cleaning, flame straightening, and flame hardening, and it plays a crucial role in medical applications, which witnessed tremendous demand during the pandemic period 2021. The detailed segment information is also covered in the MMR's report. Based on Application, the industrial gases market is segmented as, cryogenics, coolant, cutting and welding, food processing, rubber, plastics, paints, and others. In 2021, the cryogenics segment was dominant and held more than xx% of the overall market share in terms of revenue. Many cryogenic applications use liquefied gases such as liquid nitrogen and liquid helium. Liquid nitrogen is the most widely consumed cryogenic element, and it is legally available throughout the world. Liquid helium is also widely used since it enables the lowest temperatures possible. The detailed segment information is also covered in the MMR's report.
Global Industrial Gases Market Regional Insights:In 2021, the Asia Pacific region was dominant and held more than xx% of the overall market share in terms of revenue. China contributed to a large portion of the region's consumption. India, on the other hand, is anticipated to develop at the quickest rate of xx% in the region. India is Asia-third-largest producer of iron and steel, with annual production expanding at a rapid rate of xx%. Industrial gases are also used in the transportation industry, such as pressurized nitrogen for tyre manufacture, high-pressure argon for airbags, and carbon dioxide and nitrogen for accurate and secure welding. China produced 18.17 million automobiles in Q3 2021 and is expected to produce 16.96 million vehicles in Q3 2022, a reduction of nearly 6.66%. Growing demand for iron and steel from various sectors, as well as prospective steel ventures, are predicted to expand the use of mechanical gas generation units to meet the mass requirements for modern gases. In the construction business, industrial gases are consumed for welding. China dominated the construction business in 2021, with a market worth USD 1092.9 billion and a 14.71% increase over the previous year. As a result, over the forecast period, the aforementioned variables are expected to have a substantial impact on the market. The objective of the report is to present a comprehensive analysis of the market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the global market dynamics, structure by analyzing the market segments and projecting the global market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global market makes the report investor's guide.
Global Industrial Gases Market Scope: Inquire before buying
Global Industrial Gases Market Report Coverage Details Base Year: 2021 Forecast Period: 2022-2029 Historical Data: 2017 to 2021 Market Size in 2021: US $ 3.19 Bn. Forecast Period 2022 to 2029 CAGR: 11.32% Market Size in 2029: US $ 7.53 Bn. Segments Covered: by Type • Oxygen • Nitrogen • Hydrogen • Argon • Carbon Dioxide • Other gases by Application • Cryogenics • Coolant • Cutting and Welding • Food Processing • Rubber • Plastics • Paints • Others
Industrial Gases Market, by Region• North America • Europe • Asia Pacific • The Middle East and Africa • South America
Industrial Gases Market, Key Players• AGA AB • Airgas • Air Liquide • Air Products and Chemicals • BASF SE • BOC • Gulf Cryo • The Linde Group • Messer Group • MOX-Linde Gases • Praxair • Nippon Gases • Matheson Tri-Gas • Rotarex • Universal Industrial Gases • Dubai Industrial Gases • Bristol Gases • Others
Frequently Asked Questions:1. What is the forecast period considered for the Industrial Gases market report? Ans. The forecast period for the industrial gases market is 2022-2029. 2. Which key factors are hindering the growth of the Industrial Gases market? Ans. The stringent rules and regulations governing the production, storage, and transportation of these gases are the key factors expected to hinder the growth of the market during the forecast period. 3. What is the compound annual growth rate (CAGR) of the Industrial Gases market for the next 6 years? Ans. The Industrial Gases market is expected to grow at a CAGR of 11.32% during the forecast period (2022-2029). 4. What are the key factors driving the growth of the Industrial Gases market? Ans. The growing manufacturing and processing industries, rapid urbanization globe are the key factors expected to drive the growth of the market during the forecast period. 5. Which are the worldwide major key players covered for the Industrial Gases market report? Ans. AGA AB, Airgas, Air Liquide, Air Products and Chemicals, BASF SE, BOC, Gulf Cryo, The Linde Group, Messer Group, MOX-Linde Gases, Praxair, Nippon Gases, Matheson Tri-Gas, Rotarex, Universal Industrial Gases, Dubai Industrial Gases, Bristol Gases, and Others.
1. Global Industrial Gases Market: Research Methodology 2. Global Industrial Gases Market: Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to Global Industrial Gases Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Industrial Gases Market: Competitive Analysis 3.1. MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2. Consolidation in the Market 3.2.1 M&A by region 3.3. Key Developments by Companies 3.4. Market Drivers 3.5. Market Restraints 3.6. Market Opportunities 3.7. Market Challenges 3.8. Market Dynamics 3.9. PORTERS Five Forces Analysis 3.10. PESTLE 3.11. Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • Latin America 3.12. COVID-19 Impact 4. Global Industrial Gases Market Segmentation 4.1. Global Industrial Gases Market, by Type (2021-2029) • Oxygen • Nitrogen • Hydrogen • Argon • Carbon Dioxide • Other gases 4.2. Global Industrial Gases Market, by Application (2021-2029) • Cryogenics • Coolant • Cutting and Welding • Food Processing • Rubber • Plastics • Paints • Others 5. North America Industrial Gases Market (2021-2029) 5.1. Global Industrial Gases Market, by Type (2021-2029) • Oxygen • Nitrogen • Hydrogen • Argon • Carbon Dioxide • Other gases 5.2. Global Industrial Gases Market, by Application (2021-2029) • Cryogenics • Coolant • Cutting and Welding • Food Processing • Rubber • Plastics • Paints • Others 5.3. North America Industrial Gases Market, by Country (2021-2029) • United States • Canada • Mexico 6. European Industrial Gases Market (2021-2029) 6.1. European Industrial Gases Market, by Type (2021-2029) 6.2. European Industrial Gases Market, by Application (2021-2029) 6.3. European Industrial Gases Market, by Country (2021-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Industrial Gases Market (2021-2029) 7.1. Asia Pacific Industrial Gases Market, by Type (2021-2029) 7.2. Asia Pacific Industrial Gases Market, by Application (2021-2029) 7.3. Asia Pacific Industrial Gases Market, by Country (2021-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. The Middle East and Africa Industrial Gases Market (2021-2029) 8.1. The Middle East and Africa Industrial Gases Market, by Type (2021-2029) 8.2. The Middle East and Africa Industrial Gases Market, by Application (2021-2029) 8.3. The Middle East and Africa Industrial Gases Market, by Country (2021-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. Latin America Industrial Gases Market (2021-2029) 9.1. Latin America Industrial Gases Market, by Type (2021-2029) 9.2. Latin America Industrial Gases Market, by Application (2021-2029) 9.3. Latin America Industrial Gases Market, by Country (2021-2029) • Brazil • Argentina • Rest Of Latin America 10. Company Profile: Key players 10.1. AGA AB 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. CNH Industrial NV 10.3. Airgas 10.4. Air Liquide 10.5. Air Products and Chemicals 10.6. BASF SE 10.7. BOC 10.8. Gulf Cryo 10.9. The Linde Group 10.10. Messer Group 10.11. MOX-Linde Gases 10.12. Praxair 10.13. Nippon Gases 10.14. Matheson Tri-Gas 10.15. Rotarex 10.16. Universal Industrial Gases 10.17. Dubai Industrial Gases 10.18. Bristol Gases 10.19. Others