Industrial Gases

Industrial Gases

Global Industrial Gases Market to Reach US$157.2 Billion by 2030

The global market for Industrial Gases estimated at US$105.0 Billion in the year 2023, is expected to reach US$157.2 Billion by 2030, growing at a CAGR of 5.9% over the analysis period 2023-2030. Industrial Oxygen, one of the segments analyzed in the report, is expected to record a 6.0% CAGR and reach US$46.5 Billion by the end of the analysis period. Growth in the Industrial Nitrogen segment is estimated at 6.5% CAGR over the analysis period.

The U.S. Market is Estimated at US$28.0 Billion While China is Forecast to Grow at 9.5% CAGR

The Industrial Gases market in the U.S. is estimated at US$28.0 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$35.7 Billion by the year 2030 trailing a CAGR of 9.5% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 3.2% and 4.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.9% CAGR.

Global Industrial Gases Market - Key Trends & Drivers Summarized

What Are Industrial Gases and Where Are They Used?

Industrial gases such as oxygen, nitrogen, carbon dioxide, argon, and hydrogen are pivotal to various industrial processes and applications. These gases are used across a broad spectrum of industries including healthcare, where oxygen is crucial for patient care, and manufacturing, where gases like nitrogen and carbon dioxide are used for their inert properties in processes that require non-reactive environments. Argon is widely used in welding, and hydrogen serves as a fuel and reducing agent in chemical processes. The versatility of these gases makes them integral to the operations of sectors ranging from electronics to food processing, each relying on specific properties of these gases to enhance product quality, safety, and efficiency.

How Are Innovations Impacting the Industrial Gases Sector?

Innovation within the industrial gases sector is heavily focused on improving the efficiency and sustainability of gas production and delivery. Advanced separation technologies, such as pressure swing adsorption and cryogenic distillation, have enhanced the purity and yield of these gases, making processes more cost-effective. Moreover, innovations in packaging, storage, and transport technologies, including the development of lightweight, high-capacity cylinders and more efficient cryogenic tanks, have significantly improved the safety and environmental footprint of transporting these gases. Additionally, the industry is increasingly turning to on-site production facilities, which reduce the need for transportation and associated emissions, while providing users with a steady, reliable supply of necessary gases.

What Trends Are Shaping the Industrial Gases Market?

Several key trends are shaping the industrial gases market today. There is a growing demand for clean energy sources, which has led to an increased use of hydrogen as a fuel. The rise in healthcare standards and an aging global population are driving the demand for medical gases for use in therapeutic and diagnostic applications. Furthermore, environmental concerns and regulations are pushing industries to adopt cleaner technologies and practices, where gases like oxygen and hydrogen play critical roles in reducing emissions and enhancing energy efficiency. The expansion of the food and beverage industry also boosts the need for gases that ensure food preservation and safety.

What Are the Key Drivers of Growth in the Industrial Gases Market?

The growth in the industrial gases market is driven by several factors. Rapid industrialization in emerging economies is increasing the demand for gases used in manufacturing and processing industries. Technological advancements that enhance the efficiency and environmental sustainability of gas production are also crucial drivers, as they meet the stringent regulatory standards for emissions and energy use. Moreover, the expanding healthcare sector globally requires a steady supply of medical gases, which supports sustained growth in this segment. The ongoing developments in sectors such as electronics, where gases are used in the production of semiconductors and display panels, further fuel the demand for high-purity gases. These combined factors ensure robust growth and continued innovation within the global industrial gases market.

Select Competitors (Total 38 Featured) -

• Abrasive-Form
• A-Gas International
• Air Liquide SA
• Air Products Inc.
• Air Products Sp. z o.o.
• Air Water, Inc.
• Alang Industrial Gases
• AP+M
• Ap2e
• B.I.G. Industries Berhad

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