Industrial Gases Market Research Revealing The Growth Rate And Business Opportunities To 2030

 

Industrial Gases Market Overview:

The Industrial Gases Market size is expected to grow at a CAGR of 6.30% during the forecast period 2022-2030, due to surging demand for industrial gases from applications in the energy.

Industrial gases are the gases that go material that is useful for industrial reasons. Oxygen, Carbondixode, Nitrogen, Acetylene, argon, and Helium to name some are the major gases that industries use the most. Such gases are supplied to different end-use industries. The supply of the same is done with the help of the gas tanker in the gaseous and liquefied form. Such gases are manufactured from the cryogenic filtration of the air process with the help of air separation units. It is also known as medical gases, fuel gases, refrigerant gases, and especially per the application in different industries.

Industrialization and urbanization are growing to a great extent. There is also an increased application noted with regards to the industrial gases in different sectors like metals, construction, food service, and mining as an alternative source of energy. This is one of the crucial of all factors which is pacing the industrial gas growth in the forecast timeline.

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There is also increased consumption of the global crude oil and the need to refine is soon going to open new prospects for the industry of the industrial gases throughout the aforementioned timeline. The environmental standards are decreasing the already allowed refinery products sculpture concentration. This has led to more demand for the refining operators so the crude can be desulfurized and there can be a good market development noted. Industrial gases are used on a wide scale in the industries of the food and beverages sector. Consumers are now looking for alternatives to the regular preservation process which is actually creating a crucial development scope for the food-grade industrial gases.

The impact of Covid-19 has been quite a lot on many industries and countries. There was a demand for closing different industrial activities, especially in those areas which were badly impacted due to such virus outbreaks. The demand for industrial-grade carbon dioxide also declined to a great extent. The greenhouse gases, on the other hand, had a great demand as compared to the regular ones during the pandemic phase because of the fire fighting and medicinal uses. The requirement for Covid-19, care facilities across the country, and also carbon dioxide medicinal applications have contributed to the rise in the demand for medical-grade carbon dioxide.

Market Segmentation:

As per the Application

l  Chemicals

l  Energy

l  Retail

l  Beverages

l  Metallurgy

l  Manufacturing

l  Healthcare

l  Glass

l  Food

As per the end-users

l  On-Site

l  Bulk

l  Cylinder

Regional Classification:

In the regional analysis that has been made on the market for industrial gases, it is noted that the market is categorized into North America, Europe, Asia-Pacific, Central and South America, and the Middle East and Africa. Asia-pacific presently is holding a huge share of the market.

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Industry News:

In Malaysia's Bayan Lepas, Air Products Inc. will start with a cryogenic nitrogen facility to help the company's operations.

Key Players

• Air Liquide S.A.
• Asia Technical Gas Co (PTE) LTD (ATG)
• Taiyo Nippon Sanso Corporation
• Linde AG
• Dubai Industrial Gases
• MATHESON Tri-Gas Inc.
• National Industrial Gas Plants - Mohammed Hamad Al Mana Group
• Tripti Gases Pvt. Limited
• Ellenbarrie Industrial Gases Ltd.
• Gulf Cryo
• Messer Group GmbH
• Bhuruka Gases Ltd.
• Goyal MG Gases Pvt. Ltd
• Airgas Inc.
• Bristol Gases – Concorde Corodex Group
• BASF
• Others