Industrial Gases Market by Type (Carbon Dioxide, Hydrogen, Nitrogen), Application (Aerospace, Construction, Electronics), Distribution Channel - Global Forecast 2024-2030

Industrial Gases Market by Type (Carbon Dioxide, Hydrogen, Nitrogen), Application (Aerospace, Construction, Electronics), Distribution Channel - Global Forecast 2024-2030

The Industrial Gases Market size was estimated at USD 106.15 billion in 2023 and expected to reach USD 114.48 billion in 2024, at a CAGR 7.85% to reach USD 180.21 billion by 2030.

The industrial gases market comprises the sales, production, and distribution of gases, including oxygen, nitrogen, argon, helium, and various other gases for industrial use. These gases are used across a wide range of industries, including healthcare, chemicals, food and beverages, electronics, energy, and manufacturing, due to their essential properties in various processes such as oxidation, combustion, refrigeration, and preservation. Industrial gases hold significant roles across different sectors. In the healthcare industry, oxygen is vital for respiratory care, while nitrous oxide is commonly used as an anesthetic gas. The food and beverage industry employs carbon dioxide for carbonation and nitrogen to prevent oxidation in packaged foods. The manufacturing sector uses these gases for welding and cutting processes, metal fabrication, and enhancing product quality. Industrial gases are also pivotal in the production of electronics, where ultra-pure gasses are used for semiconductor manufacturing. The industrial gases market is growing due to rising demand for industrial gasses for energy conservation, increasing adoption in the mining and construction sector, and surging use in the aerospace and food and beverage sectors. However, the adoption of industrial gasses is hindered by associated adverse health impacts and stringent environmental regulations and policies for industrial gas emissions. On the other hand, ongoing research activities to develop new gas-related technologies and rapid technological advancements to improve production efficiency and enhance gas purity present potential opportunities for the industrial gases market in the coming years.

Regional Insights

In the United States, the industrial gases market is maturing, with high demand in the healthcare, oil and gas, and chemicals sectors. Consumer behavior tends to favor suppliers offering innovative solutions regarding gas delivery and sustainability. Recent investments have focused on the expansion of liquid gas production facilities and infrastructural developments in the hydrogen market, gearing towards a low-carbon economy. In Canada, the market is defined by its focus on the environmental applications of industrial gases, particularly in treatment processes for water and industrial effluents. In South America, the market is experiencing moderate growth, with countries such as Brazil and Argentina playing significant roles. Economic volatility and political instability have historically affected investment and growth in this region. Europe's industrial gases market is experiencing growth led by the emphasis on energy efficiency and reduced carbon emissions. The region's stringent environmental regulations are nurturing a demand for clean technologies, including industrial gases, in various applications such as waste-to-energy. Furthermore, the well-established healthcare system in Europe contributes to the constant demand for medical gases, which is further accelerated amid public health challenges. The Middle East market for industrial gases is growing due to the expansion of the healthcare, food processing, and metal fabrication sectors. Africa is an emerging market with growth potential, particularly in healthcare, mining, and metal processing industries. APAC is expected to be the fastest-growing market for industrial gases. The region's vast manufacturing base, led by countries such as China, India, Japan, and South Korea, drives a substantial demand for industrial gases. Rapid industrialization, investment in infrastructure, and policies supporting manufacturing are pivotal in this growth. Additionally, the expanding healthcare sector in these populous countries is propelling the demand for medical gases, thus contributing significantly to the market's expansion.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Industrial Gases Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

Rising demand for industrial gases for energy conservation
Surging use in aerospace and food & beverage sector
Increasing environmental consciousness with the expanding scope for cleaner and greener gases

Market Restraints

Fluctuations in the availability of raw materials associated with industrial gases

Market Opportunities

Ongoing research activities to develop new gas-related technologies
Emerging potential of hydrogen gas in the renewable sector

Market Challenges

Stringent environmental regulations and policies for industrial gas emissions

Market Segmentation Analysis

Type: Growing usage of hydrogen as a source of clean energy for transportation and power generation
Application: Growing potential of the industrial gases construction sector for steel manufacturing and fabrication

Market Disruption Analysis

Porter’s Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Industrial Gases Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Industrial Gases Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Meritus Gas Partners Announces Partnership with Dallas-Based Airco Gases Southwest

Meritus Gas Partners strategically partnered with Airco Gases Southwest, LLC to enhance its business scope and leverage synergies in the highly competitive industrial gases sector. This collaboration aligns with Airco's vision of scaling up regional successes to a national level by leveraging the aligned business models and customer-focused values of both Meritus and Airco.

Air Products to Acquire, Own and Operate Industrial Gas Complex at Uzbekneftegaz's Advanced Gas-to-Liquids Facility in Uzbekistan for USD 1 Billion

Air Products and Chemicals, Inc. solidified its presence within the industrial gas sector by entering into a definitive investment agreement valued at USD 1 billion with Uzbekneftegaz JSC and the Republic of Uzbekistan's government to take ownership and operational control of a cutting-edge natural gas-to-syngas facility in the Qashqadaryo Province. This move taps into the strategic potential of Uzbekneftegaz JSC's state-of-the-art gas-to-liquid (GTL) complex, with its annual production capacity of 1.5 million tonnes of synthetic fuels.

INOX Air planes INR 3,000 crore investment by 2025 to meet rising demand

INOX Air Products announced a significant investment strategy, committing a robust INR 3,000 crore across ten sites over the nation by 2025. These plants are projected to bolster production, adding a staggering capacity of 1,800 tonnes of oxygen daily.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Industrial Gases Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Industrial Gases Market, highlighting leading vendors and their innovative profiles. These include Air Liquide S.A., Air Water Inc., Asia Technical Gas Co. (Pte) Ltd., BASF SE, Bhuruka Gases Limited, Ellenbarrie Industrial Gases Ltd., Evonik Industries AG, Goyal MG Gases Pvt. Ltd., Gulf Cryo, INOX-Air Products Inc., International Industrial Gases Ltd., Iwatani Corporation, Linde PLC, Messer Group, Mitsubishi Chemical Group Corporation, MVS Engineering Pvt. Ltd., National Gases Ltd., Praxair Technology, Inc., PT Samator Indo Gas Tbk, Siad S.p.A., SOL Group, Southern Gas Limited, Strandmøllen A/S, Taiyo Nippon Sanso Corporation, and Universal Industrial Gases, Inc..

Market Segmentation & Coverage

This research report categorizes the Industrial Gases Market to forecast the revenues and analyze trends in each of the following sub-markets:

Type
Carbon Dioxide
Hydrogen
Nitrogen
Compressed Gas
Liquid Nitrogen
Noble Gas
Argon
Helium
Krypton
Neon
Radon
Xenon
Oxygen
Application
Aerospace
Construction
Electronics
Energy & Power
Healthcare
Manufacturing
Distribution Channel
Bulk (Liquid Gas Transport)
Cylinder (Merchant)
On-site
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas
Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam
Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom

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