The Asia-Pacific industrial gases market is estimated to reach 50.35 million tons by the end of this year. It is projected to reach 60.58 million tons in the next five years, registering a CAGR of 3.77% during the forecast period.
The COVID-19 pandemic affected several industries negatively. The lockdown in most countries in the region caused disruptions in industrial activities and freight transportation that disturbed the supply chain in nearly every end-user industry. However, the conditions started recovering in 2021, restoring the market's growth trajectory.
The Asia-Pacific industrial gases market is consolidated in nature. The major players include (not in any particular order) Linde PLC, Air Liquide, Air Products and Chemicals Inc., Nippon Sanso Corporation, and Iwatani Corporation.
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