Industrial Gases Industry Analysis
Industrial gases are also referred to as bulk gases or commodity gases; they are produced in large quantities by companies for use in a variety of industrial manufacturing processes. The industrial gases manufacturing market consists of the sales of industrial gases by entities (organizations, sole traders or partnerships) that produce industrial organic and inorganic gases in compressed, liquid, and solid forms.
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Industrial Gas Market Size
The global industrial gas market grew at a compound annual growth rate (CAGR) of over 2% during the historic period. This growth can be attributed to several factors such as emerging markets growth, technology development, and increasing applications of industrial gas in healthcare. By 2022 the industrial gas market is expected to grow at a CAGR of around 4.5%.
L’Air Liquide S.A is estimated to be the largest player with around 25% in the industrial gas market share, followed by The Linde Group, Praxair Inc., Air Products and Chemicals Inc., and Taiyo Nippon Sanso Corp.
L’Air Liquide’s Gas & Services division, involved in industrial gas production, generated revenues of around $17 billion for the financial year 2017. The Gas & Services division provides industrial and specialty gases, application, technologies, welding, healthcare specialty ingredients, safety equipment, and related services to industrial, healthcare and electronic companies.
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Company profiles included in the report are L`Air Liquide S.A, The Linde Group, Praxair Inc., and Air Products and Chemicals Inc.
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