GCC Industrial Gas Market Size By Type (Nitrogen [By Application {Manufacturing, Metallurgy, Energy, Chemicals, Healthcare}, By Supply Mode {Packaged, Bulk, On-Site}], Oxygen [By Application {Manufacturing, Metallurgy, Energy, Chemicals, Healthcare}, By S

GCC Industrial Gas Market Size By Type (Nitrogen [By Application {Manufacturing, Metallurgy, Energy, Chemicals, Healthcare}, By Supply Mode {Packaged, Bulk, On-Site}], Oxygen [By Application {Manufacturing, Metallurgy, Energy, Chemicals, Healthcare}, By Supply Mode {Packaged, Bulk, On-Site}], Carbon Dioxide [By Application {Manufacturing, Metallurgy, Energy, Chemicals, Healthcare}, By Supply Mode {Packaged, Bulk, On-Site}], Argon [By Application {Manufacturing, Metallurgy, Energy, Chemicals, Healthcare}, By Supply Mode {Packaged, Bulk, On-Site}], Hydrogen [By Application {Manufacturing, Metallurgy, Energy, Chemicals, Healthcare}, By Supply Mode {Packaged, Bulk, On-Site}], Helium [By Application {Manufacturing, Metallurgy, Energy, Chemicals, Healthcare}, By Supply Mode {Packaged, Bulk, On-Site}], Krypton [By Application {Manufacturing, Metallurgy, Energy, Chemicals, Healthcare}, By Supply Mode {Packaged, Bulk, On-Site}], Xenon [By Application {Manufacturing, Metallurgy, Energy, Chemicals, Healthcare}, By Supply Mode {Packaged, Bulk, On-Site}]), Industry Analysis Report, Country Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2022-2030

The GCC industrial gas market is set to witness robust expansion through 2030 owing to rising demand for sustainable energy sources and cleaner energy transition.

Notably, surging research emphasis on industrial gases has been beneficial for the product landscape, thereby improving overall market dynamics. For instance, a March 2022 white paper by the Oil and Gas Climate Initiative (OGCI), an industry-led initiative that is working on expediting climate change response, showed that the deployment of CCUS (carbon capture, usage and storage) in GCC countries as a cost-efficient decarbonization solution could unlock enormous economic potential in the region.

The GCC industrial gas market has been segmented on the basis of product, supply mode, application, and country.

With respect to product, the market has been segregated into nitrogen, carbon dioxide, hydrogen, krypton, xenon, helium, argon, and oxygen. Increasing chemical synthesis in the GCC region is expected to augment the growth of the carbon dioxide sub-segment in the upcoming time period.

The argon sub-segment is slated to observe strong growth up to 2030. Growing focus on the use of argon gas in the illumination industry for the production of bulb filaments and lamps due to its ability to extend the life of bulbs is foreseen to augment segmental demand.

The GCC industrial gas market share from the helium sub-segment is poised to record considerable revenue growth over the analysis timespan. Rising demand from the party and entertainment industry for balloon inflation purposes is speculated to fuel demand for helium gas in the GCC region.

Increased focus on innovative chemical synthesis processes, aerospace research, and semiconductor manufacturing applications of the xenon gas is primed to boost the expansion of the xenon sub-segment. The emergence of the window insulation industry is projected to facilitate the growth of the krypton sub-segment in the forthcoming years.

With regards to application, the GCC industrial gas market has been divided into metallurgy, chemicals, healthcare, energy, manufacturing, and others. The manufacturing applications of industrial gases in GCC are expected to surpass $500 million in revenue by 2030. The others application segment, which includes research-oriented applications of industrial gases and scuba diving, is estimated to cross a valuation of $380 million by the end of the study timeframe.

Based on country, the GCC industrial gas market spans the geographies of Qatar, UAE, Saudi Arabia, Oman, Kuwait, and Bahrain. Emerging electronic and telecom industries are anticipated to facilitate the rise in consumption of industrial gases in Oman.

The Kuwait industrial gas market is primed to witness substantial progress through 2030 driven by high demand for industrial gases in the evolving domestic automotive and construction sectors. Meanwhile, the Bahrain industrial gas business is set to register significant gains over the forecast timeline on account of a strong presence of refining industries and petroleum production in the country.