Some of the major factors driving the growth of the global industrial gases market are rapid industrialization and increasing population. Industrial gases have applications in various industries, such as petrochemicals, oil and gas, mining, pharmaceuticals, electronics, fertilizer, and nuclear power; which is fueling the growth of the global industrial gases market. In addition, the advancement in industrial gas production technology, and huge demand in emerging economies, such as India and China are driving the growth of the global industrial gases market.
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Moreover, the increased demand for high quality gas solutions in aerospace industry; and significant growth of pharmaceutical, food and beverage industries in the emerging economies, such as China, India, and Brazil are creating ample opportunities for the growth of the global industrial gases market, during the forecast period. In addition, the increasing adoption of cryogenic processes for industrial air separation and increasing usage of gaseous mixtures, such as syngas (a mixture of carbon monoxide and hydrogen) are the key trends witnessed in the global industrial gases market. However, huge capital required for the production and purification of industrial gases, and high cost associated with storage and transportation of the industrial gases are restraining the growth of the global industrial gases market to some extent.
Industrial gases refer to the group of gases, which are produced for usage in several industries. Some of the major industrial gases are oxygen, helium, nitrogen, carbon dioxide, argon, acetylene, and others. The industrial gases are exploited for their physical and chemical properties, such as coldness, inertness and reactivity. The industrial gases are used to maintain and protect product quality, and produce specialty products. These gases are produced, stored, and transported in both liquid and gas form. Oxygen is utilized to enhance the reaction rates in the chemical and biochemical reactions. In food and beverage and biotechnology industries, oxygen enhances the biological activity of microorganisms. Carbon dioxide is used as raw material for several chemical processes, such as neutralizing alkaline materials. 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, wielding, manufacturing of non-flammable devices, and sparging process. Some of the major application areas of these industrial gases are metal fabrication, steel production, biopharmaceutical and chemical manufacturing, plastic and rubber manufacturing, and brewing processes.
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Geographically, Asia-Pacific leads the global industrial gases market, owing to high demand of industrial gases in chemical, pharmaceutical and steel industry, large population, and rapid industrialization. In addition, the high demand of gaseous mixtures in steel and polymer industries is also supporting the growth of the industrial gases market in the region. Moreover, the increasing gross domestic product and growing consumption of industrial gases in India and China are driving the growth of the industrial gases market in Asia-Pacific.
The key players operating in the global industrial gases market are Praxair Inc., Air Products and Chemicals Inc., Linde AG, Air Products and Chemicals Inc., Air Liquide, Airgas Inc., and Taiyo Nippon Sanso Corporation
Global Industrial Gases Market, By Type
- Carbon Dioxide
Global Industrial Gases Market, By Geography
- North America
- Rest of the World
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