Market Research Future (MRFR) has published a cooked research report on the “global industrial gases market” that contains the information from 2018 to 2050. The Industrial Gases market is estimated to register a CAGR of 6.13% during the forecast period of 2022 to 2050.
MRFR recognizes the following companies as the key players in the global industrial gases market— Linde PLC (Ireland), Air Liquide (France), BASF SE (Germany), Air Products and Chemicals Inc. (US), Messer Group GmbH (Germany), Iwatani Corporation (Japan), SOL Group (Italy), Matheson Tri-gas Inc. (US), Taiyo Nippon Sanso Corporation (Japan), and Elliniki Gases S.A. (Greece).
The global industrial gases market is accounted for to register a CAGR of 6.13% during the forecast period and is estimated to reach USD 4,896.62 million by 2050.
Industrial gases refer to a broad range of gases that are used in various industrial end users. These gases are typically produced, stored, and distributed in large quantities for use in industries such as manufacturing, energy, healthcare, electronics, and more. Industrial gases can be categorized into different types based on their properties and end users.
Gases such as oxygen, acetylene, and argon are widely used in welding and cutting processes. Oxygen supports combustion, acetylene provides a high-temperature flame, and argon serves as a shielding gas to protect the weld zone. Moreover, industrial gases like nitrogen, hydrogen, and helium are utilized in metal manufacturing processes such as annealing, heat treating, and metal refining. These gases can create inert atmospheres, control reactions, and improve the quality of the final product. Additionally, carbon dioxide is widely used in the food and beverage industry for carbonation of soft drinks, packaging, and preservation of perishable foods. Nitrogen is used for food packaging to displace oxygen and extend the shelf life of products.
The primary force behind the growth of the industrial gases market worldwide is the increasing demand from the oil & gas industry. Types of industrial gases include hydrogen, oxygen, nitrogen, carbon-dioxide, and others. Whereas end users of industrial gases include industry, transportation, agriculture, energy, and others.
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The global industrial gases market has been segmented based on type, end user, and region.
The global industrial gases market segmentation, based on type has been segmented as hydrogen, oxygen, nitrogen, carbon-dioxide, and others. Among these, the oxygen type is projected to dominate the global industrial gases market revenue through the projected period as estimated by MRFR analysts.
Oxygen is essential for combustion processes in industries such as metal cutting, welding, and heating. It supports the chemical reactions that produce heat and energy, making it crucial for various industrial applications. Oxygen is extensively used in the steelmaking industry. It is injected into blast furnaces to enhance combustion and increase the temperature, allowing for more efficient production of iron and steel. Oxygen also helps remove impurities from molten metal and improves the overall quality of the steel. Oxygen serves as an oxidizer in many chemical reactions and synthesis processes. It is used for the production of chemicals, pharmaceuticals, and intermediates. Oxygen enrichment can enhance the performance and efficiency of certain chemical reactions.
Based on end user, the market is segmented into industry, transportation, agriculture, energy, and others. Out of which the industry segment dominated the base year market and is also projected to be holding a dominating share in the forecasted period as well. Industrial gases are in high demand from industries such as manufacturing, healthcare, electronics, food and beverage, and chemicals. These sectors rely on industrial gases for a wide range of applications, including welding, cutting, heating, packaging, metal refining, and more. The consistent and substantial demand from these industries drives the growth and dominance of industrial applications in the market. Industrial gases have diverse applications across various industries. They serve critical functions such as providing an inert atmosphere, supporting combustion, enhancing chemical reactions, controlling temperature, and preserving quality. The versatility and adaptability of industrial gases make them indispensable in numerous industrial processes, contributing to their dominance in the market.
By Country, the study segments the Industrial Gases market into Serbia, Hungary, Romania, and Greece. Romania experienced significant economic growth over the past decades. Romania has a well-developed industrial gases market. The demand for industrial gases in the country is driven by various sectors, including manufacturing, metallurgy, chemicals, healthcare, and food and beverage. The market size and growth of the industrial gases sector in Romania are influenced by the overall economic performance and industrial development of the country.
Romania has a significant presence of industrial gas producers and suppliers. Several multinational companies, as well as local players, operate in the market. These companies produce and supply industrial gases such as oxygen, nitrogen, carbon dioxide, and argon to meet the domestic demand. Local production helps ensure a stable supply of industrial gases within the country..
Key Findings of the Study