Industrial Gases Market Demand, Growth, Trends, Value and Market Forecast 2023-2030

Global Industrial Gases Market is segmented By Gas Type(Oxygen, Nitrogen, Helium, Hydrogen, Carbon Dioxide, Acetylene, Argon, Others (Xenon), By End-Use Industry (Chemicals & Refining, Automotive & Aerospace, Manufacturing, Metals, Electronics, Health & Medicine, Electronics, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030

Industrial Gases Market Overview

The Industrial Gases Market is expected to grow at a high CAGR of 6.11% during the forecasting period (2023-2030). Industrial Gases are gaseous materials that are produced for use in various industries. The significant gases which are used in the industry include oxygen, nitrogen, carbon dioxide, acetylene, hydrogen, argon, and helium. The demand for fresh food products is rising globally. Consumers are becoming more health-conscious and preferring safe and clean food with fewer additives, increasing the demand for industrial gases that can be used in place of chemical ingredients. Therefore, the food and beverage industry is buying large quantities of food-grade industrial gas which is used to chill, freeze and package various food products. Thus, because of the growth in Food & beverage industry, the market for industrial gases is expanding.

Industrial Gases Market Scope and Summary

Industrial Gases Market Trends

• The increasing demand for the high-grade industrial gases market share in Healthcare is also a significant driver for the market.

• In contrast to oxygen, which is used in medical facilities to aid in the treatment of hypoxemia and hypoxia, carbon dioxide is used for insufflation. It is often combined with oxygen or air as a respiratory stimulant to promote deep breathing.

• Nitrous oxide, nitric oxide, and other industrial gases like hydrogen, helium, and xenon are also being prepared for clinical use in pharmaceutical products.

Industrial Gases Market Drivers

Thus, the broad applications of Industrial gases in the healthcare sector are boosting the market for Industrial Gases. The stringent laws and regulations associated with the manufacturing, storage, and distribution of Industrial Gases tend to decrease the profit margin for the companies. And also the cost involved in the room of Industrial Gases is very high. So, these factors can be a potential barrier to market growth.

Industrial Gases Market Segmentation Analysis

• The Global Industrial Gases Market report segments the market by gas type and by end-user industry. Gas type in the market includes Oxygen, Nitrogen, Helium, Hydrogen, Carbon dioxide, 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 freezing 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.

• Most noteworthy, 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.

Global Industrial Gases Market Geographic Share

• North America contributes significantly to the Industrial Gas Market. It is because of the rapid rise in the automotive and construction sector in the U.S. which is propelling the demand for Industrial Gases.

• Also, the consumption of industrial gases is increasing in refineries as there is a high demand for cleaner-burning fuels in the U.S. which is driving the need for Hydrogen in the U.S.

• APAC is predicted to be the fastest-growing region during the forecast period owing to the demand for industrial gases in the manufacturing, chemicals, healthcare, and food sector in this region because of rapid urbanization and a fast-growing population.

• Moreover, governments in countries like China, India, and Indonesia are taking various initiatives to develop alternative energy sources. This is fuelling the growth of gasification plants which uses a substantial amount of Industrial Gases.

Industrial Gases Market Companies and Competitive Analysis

• 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 Industrial Gases. Air Liquide operated in 80 countries and had net revenue of about 23 billion in 2017.

Industrial Gases News

There is a proposed merger of equals between The Linde Group and Praxair which has already been approved by The European Commission (EU). This merger would change the dynamics of the Industrial Gas industry.