Industrial Gases Market 2020
Industrial Application of gases has increased due to Industrialization. Variety of gases are used for manufacturing purpose. These gaseous substances are considered as Industrial gases which are used in various Industries. Majorly gases such as Acetylene, Xenon, Nitric Oxide, Nitrous Oxide, Oxygen, Carbon di-oxide, Hydrogen, Helium and Argon are used in Industries. Innovations in use of products have propelled the demand of the gases. Gases are even available in liquid format which are used as fuel in rocket. Liquid Oxygen and Hydrogen are instances of liquid gases. The high demand for fresh food also contributes towards use of gases that can be used in preserving food for long period of time. The Food and Beverage Industries majorly buy these Industrial Gases to chill, freeze and pack these goods. These gases are also used in various clinical processes in hospitals and pharmaceutical industries.
Environmental concerns have also paved way for alternative use of energy and thus use of renewable gases have increased. Urbanization and Industrialization in major countries will impact the market positively. Improvement in Economic Scenario, Concerns for Environment Protection, awareness about health concern and huge dependency on frozen food in food and beverage industry shall be major drivers for Global Industrial Gases Market.
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The Global Industrial Gases market report profiles the following companies- Air Liquide, Air Products & Chemicals, The Linde Group, Praxair, The BOC Group, BASF, Messer Group, Tai-yo Nippon Sanso and Matheson Tri-Gas, Inc. Air Liquide, Air Products & Chemicals, and Linde Group hold the majority of the market share of the Industrial Gases. Air Liquide operates in 80 countries and had a net revenue of about $23 billion in 2017. There is a proposed merger of equals between The Linde Group and Praxair which has already been approved by The European Commission (EU). This mer-ger would change the dynamics of the Industrial Gas industry.
Industrial Gases Market can be segregated into product and application segment. Considering the product segment, the industrial gases market can be divided into atmospheric gases, elemental gases, noble gases, compound gases, liquified gases, hydrocarbon gases and others. Secondly, the Industrial Gas Market as is used in variety of industrial application, the same can be segregated on the basis of industrial use into Energy and Power Sector, Oil and Gas, Mining, Petroleum and chemical, Food, Beverage, Pharmaceutical, Transportation and other industries. Based on Packaging, the Industrial Gases Market are segregated into tonnage, bulk and packaged distribution
The Global Industrial Gases Market report segments the market by gas type and by end-user industry. Gas type the market includes Oxygen, Nitrogen, Helium, Hydrogen, Carbon Diox-ide, Acetylene, Argon, and Others. Nitrogen is the largest segment in this category. Nitrogen is a critical cryogenic agent in cooling, chilling and food freezing. Because of its extremely cold temperatures, immersion freezing in liquid nitrogen is the fastest freezing method known for producing Individually Quick Frozen (IQF) foods. Nitrogen also plays a crucial role in reducing spoilage, discoloration and off–flavors, giving strength to retail packaging.
As the demand for frozen food products is increasing in the U.S., it will increase the demand for industrial gases especially Nitrogen, which has significant applications in frozen foods. Further, the market can be classified by End-user Industry. End-User Industries for Industrial gases are Chemicals & Refining, Manufacturing, Metals, Energy, Automotive, Food & Bev-erages, Health & Medicine, Electronics, and Others. By end user industry, manufacturing is the largest global segment of the industrial gas market mainly due to manufacturing de-mand for industrial gases such as nitrogen and hydrogen. For instance, in the automotive industry, nitrogen in combination with other welding gases is used to weld auto parts, frames, mufflers, and other components. Nitrogen is also used in high Reynolds-number wind tunnels, heat treating furnaces, and autoclaves, and to help create strong and light-weight materials. Hydrogen is used in the manufacture of heat treating furnaces and parts.
The demand for fresh food products is rising globally. Consumers are becoming more health-conscious and preferring safe and fresh food with fewer additives, which is increas-ing the demand for industrial gases that can be used in place of the chemical ingredients. Therefore, the food and beverage industry is buying large quantities of food-grade industrial gas which are used to chill, freeze and package the various food products. Thus, because of the growth in Food & beverage industry, the market for the industrial gases is expanding.
Key market segments covered
- Carbon Dioxide
By End-User Industry
- Chemicals & Refining
- Automotive & Aerospace
- Food & Beverages
- Health & Medicine
- Asia Pacific
- North America
- South America
- Rest of the World
The Global Industrial Gases Market is spread across the world in all major regions. Europe, North America, Asia Pacific, South America, Middle East and Africa are major regions where the Industrial Gases Market is concentrated. Germany, Russia, U.K., Spain, Italy, United States, Canada, Mexico, China, Japan, India, South Korea, Australia, Brazil, Argentina, Columbia, Saudi Arabia, Egypt, South Africa, United Arab Emirates are major countries in the regions wherein the Global Industrial Gases Market is concentrated. Major use of these gases are for preservation in food, beverage and pharmaceutical industries.
As per reports, the Global Industrial Gases Market is expected to grow at a CAGR of 7% and the market is expected to reach upto 35.37 billion USD between the forecast period of 2019 to 2023. Growing need for preservation of food and pharmaceutical products and use of alternative source of energy are major growth drivers. Asia Pacific and African regions are expected to pool high opportunities in the Industrial Gases Market. Industrial Gases are being offered to the end users such as manufacturers, distributors and retailers in innovative packaging which is user friendly as well as cost effective, thereby increasing demand of packaging materials such as plastic and aluminum also.
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Major Key Points of Global Industrial Gases Market
- Global Industrial Gases Market – Methodology and Scope
- Global Industrial Gases Market – Trends
- Global Industrial Gases Market – Industry Analysis
- Global Industrial Gases Market – By Gas Type
- Global Industrial Gases Market – By End-Use Industry
- Global Industrial Gases Market – By Geography
- Global Industrial Gases Market – Competitive Landscape
- Global Industrial Gases Market – Company Profiles
- Global Industrial Gases Market – Appendix
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