Industrial Gases Market Research Report – Forecast to 2030

Industrial Gases Market Research Report: Type (Oxygen, Helium, Nitrogen, Hydrogen, Carbon Dioxide, Acetylene, Argon and Others) and Application (Healthcare, Metal and Metallurgy, Pharma and Biotech, Chemicals, Automotive and Aerospace and Others) – Forecast to 2030

ID: MRFR/E&P/5046-HCR | October 2020 | Region: Global | 100 pages

Industrial Gases Market Overview

According to the reports, during the projected period, the Industrial Gases Market size is expected to grow at a significant CAGR of 6.23 percent.

The term "industrial gases" refers to gaseous materials produced for industrial purposes. These industrial gases include nitrogen, carbon dioxide, oxygen, argon, hydrogen, acetylene, and helium. Industrial output has been showing indications of improvement across Europe and the Americas, while developing nations are quickly expanding, which remains the market's primary driver. In addition to projected expansion in industrial output, rising demand for natural chemicals from applications in the energy, catering services, pharmaceuticals, electronics, and oil and gas industries drives the global industrial gases market forward. The oil and gas sector places a high demand on industrial gases. To regulate various operations, refineries require large amounts of industrial gases.

Growing urbanization and industrialization, increasing application of industrial gases in various sectors such as construction, metals, and mining, and foodservice and rising demand for alternative energy sources are some of the factors likely to fuel the growth of the industrial gases market during the forecast period. On the other hand, rising global crude oil consumption and the requirement for refining will open up new prospects for the industrial gases industry throughout the aforementioned time period. Furthermore, severe environmental standards decreasing the allowed sculpture concentration of refinery products have pushed refining operators to desulfurize crude, creating the potential for market development. Industrial gases are widely used in the food and beverage industries. Consumers are increasingly looking for alternatives to traditional preservation procedures, which is creating vital development opportunities for food-grade industrial gases.

This report contains all the information on the global Industrial Gases Market value strengths. The report also contains the culmination of dynamics, segmentation, key players, regional analysis, and other important factors. And a detailed analysis of the global Industrial Gases Market outlook and forecast for 2023 is also included in the report.

Covid 19 Analysis

Due to the closure of industrial activity in areas severely impacted by COVID-19, demand for industrial-grade carbon dioxide has been on the decline. However, demand for greenhouse gases has been higher than usual due to medicinal and fire-fighting uses. The need for a significant number of COVID care facilities around the country, as well as a few medicinal applications of carbon dioxide, has led to a recent increase in demand for medical-grade carbon dioxide.

Major 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.

Market Dynamic

  •         Drivers

With the increase in industrial activity, the number of production units producing various types of industrial gases for diverse application sectors is rising. This drives the industrial gas market growth in both emerging and established nations. The market for industrial gases such as cutting and welding gases in metalworking and welding applications is being driven by the rapidly expanding building and construction activities in emerging nations.

  •         Opportunities

During the projected period, capacity expansion combined with developing novel technologies such as molecular sieve separation is likely to provide significant potential opportunities.

  •         Restraints

The transportation, storage, and manufacture of industrial gases are governed by a plethora of strict regulatory regulations. It may stifle development.

  •         Challenges

The release of industrial gases into the atmosphere contributes to global warming and air pollution. As a result, avoiding and adopting natural-based industrial gases and the requirement for skilled personnel when working with flammable gases became a challenge for manufacturers and regulatory authorities. Because of climatic conditions, health care demands, increasing energy consumption and expanding infrastructure projects, there is a rising awareness of the need to develop sustainable Industrial Gases.

Cumulative Growth Analysis

Bulk oxygen is frequently used in the medical sector to reduce the danger of excess oxygen in the lungs or body tissue during surgery and to provide artificial breathing. Nitrogen is used in pre-flight lung diagnostic to determine an individual's capacity to react to a simulated airplane cabin environment. Carbon dioxide can be utilized during insufflations and combined with oxygen to stimulate the respiratory simulation. As a result, the use of technology in healthcare, such as gases, has grown dramatically in recent years.

The worldwide medical technology sector had a turnover of USD 429.8 billion in 2019, up 6.3 percent from the previous year, stimulating demand for the industrial gas market. According to the India Brand Equity Foundation (IBEF), the Indian healthcare industry is anticipated to reach around USD 372 billion by 2022, owing to rising per capita income, increased health awareness, and other factors that boost demand for medical gases. As a result of all of these reasons, the worldwide industrial gas market trend is expected to expand over the projected period.

Value Chain Analysis

According to the reports, the global industrial gases market is segmented based on product, application, distribution, and region. In 2020, Oxygen had the highest revenue share. It is known to enhance fuel thermal efficiency. Oxygen is utilized in the treatment of contaminated water and hazardous wastes and the gasification of coal. To pollution, the gas can also be used to substitute chlorine in the pulp and paper sector. Oxygen is also used extensively in the medical field. As a result, the widespread use of oxygen in many industries is projected to drive demand for industrial oxygen in the future years. In 2020, the cylinder (merchant) category had the highest revenue share. Gases are supplied in the form of packed cylinders in this sector (high-pressure gas or low-pressure liquid). This method of delivery, however, is only suitable for clients with limited demand for industrial gases.

The manufacturing application category had the highest revenue share in 2020 and is expected to expand significantly throughout the forecast period. Because of the increasing manufacturing industries in India, China, Brazil, and South Korea, demand for industrial gases such as nitrogen, oxygen, carbon dioxide, and hydrogen is expected to rise significantly in developing countries. The rising need for sophisticated industrial gases in the electronic sector is projected to further expand this segment's expansion.

Segmentation Overview

The market is segmented based on product, application, distribution, and region. The global industrial gases market is expected to witness decent growth during the forecast period.

By Application

Based on the application, the market is segmented into healthcare, manufacturing, metallurgy & glass, food & beverages, retail, chemicals & energy, and others

By end-users

Based on the propulsion types, the market is segmented into on-site, bulk (Liquid Gas Transport), and cylinder (Merchant)

Regional Analysis

According to the reports, based on region, the global industrial gases market is divided into north America, Europe, Asia pacific, central and south America, and middle east and africa. Asia Pacific had the greatest industrial gases market share in 2020 and is expected to grow at the fastest CAGR over the forecast period. The growing demand for industrial gases in the Asia Pacific region may be linked to the rise of end-use industries in China, India, South Korea, and Japan. These nations are major industrial gas markets both internationally and in Asia Pacific.

In 2020, China will be the largest country-level market. Due to an increase in demand for high-quality gas solutions in the aerospace sector, Asia Pacific had the highest demand for industrial gases. Furthermore, substantial expansion in the food and beverage and pharmaceutical companies in emerging nations such as India and China is projected to create a plethora of possibilities for market growth throughout the projection period.

Competitive landscape

Due to the extremely high transportation costs, consumer density benefits and rivalry are reduced. Price, brand image, quality, technology, and distribution network are some of the criteria that industry participants compete on. To gain economies of scale, local firms supply international corporations in addition to their domestic sales. The existence of a high number of market participants has resulted in a fierce rivalry. The only methods that businesses can use to thrive in this extremely competitive global market are new and multifunctional product innovations, better quality, and effective pricing.

Report Overview

The following report comprises of –

  •         Market overview 

  •         Covid 19 Analysis

  •         Market Dynamic

  •         Drivers

  •         Opportunities

  •         Restraints 

  •         Challenges

  •         Cumulative Growth Analysis

  •         Value Chain Analysis

  •         Segmentation Overview 

  •         By Application 

  •         By End-Users

  •         Regional Analysis

  •         Competitive landscape

Recent Developments

  •         Air Products Inc. will open a new cryogenic nitrogen facility in Malaysia's Bayan Lepas in February 2021, which will help the company's operations.

  •         Linde PLC announced in December 2020 that it will form an equal-share joint venture with Sahara International Petrochemical Company (Sipchem) to construct production and delivery systems to fulfil Saudi Arabia's rising demand for industrial gases.

Product Outlook

  •         Oxygen

  •         Nitrogen

  •         Hydrogen

  •         Carbon dioxide

  •         Acetylene

  •         Argon

  •         Others

  •       Application Outlook

  •         Healthcare

  •         Manufacturing

  •         Metallurgy & Glass

  •         Food & Beverages

  •         Retail

  •         Chemicals & Energy

  •         Others

  •       Distribution Outlook

  •         On-site

  •         Bulk (Liquid Gas Transport)

  •         Cylinder (Merchant)

  •       Regional Outlook

  •         North America

o    U.S.

o    Canada

o    Mexico

  •         Europe

o    U.K.

o    Germany

o    France

o    Italy

  •         Asia Pacific

o    China

o    India

o    Japan

o    South Korea

  •         Central & South America (CSA)

o    Brazil

  •         Middle East & Africa

o    Saudi Arabia

o    UAE

Report Scope:
Report Attribute/Metric Details
  Market Size

  • 2027: USD 114.06 Billion
  • 2030 : Significant value
  •   CAGR   5.39% CAGR (2022-2030)
      Base Year   2021
      Forecast Period   2022 to 2030
      Historical Data   2019 & 2020
      Forecast Units   Value (USD Million)
      Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
      Segments Covered   Type and Application
      Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
      Key Vendors   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, Air Products and Chemicals Inc., Cryotech Anlagebau GmbH,The Southern Gas Ltd., India Glycols Ltd., Praxair Inc., Yateem Oxygen, SICGIL India Limited,Buzwair Industrial Gases Factory, Air Products, Abdullah Hashim Industrial Gases & Equipment Co. Ltd., Mohsin Haider Darwish LLC, and Ellenbarrie Industrial Gases Ltd.
      Key Market Opportunities   New product launches and R&D Amongst major key Players
      Key Market Drivers

  • Surging demand for industrial gases from applications in the energy
  • Growth in industrial production

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    Frequently Asked Questions (FAQ) :

    A beneficial CAGR is expected to steer the market growth in the forecast period.

    A beneficial revenue level is estimated to be gained by the market.

    Tripti Gases Pvt. Limited, National Industrial Gas Plants - Mohammed Hamad Al Mana Group and Ellenbarrie Industrial Gases Ltd are a few of the contenders.

    The North American region is likely to define the global market in the coming period.

    The surging demand for industrial gases from uses in the food & beverage, energy, and healthcare sectors is estimated to aid in market development.