- The industrial gas market gained a valuation of US$ 51.56 million in 2019. By 2023, the market attained a value of US$ 69.40 million, expanding at a CAGR of 6.10%.
- By product type, the oxygen segment is expected to gain a market share of 74% in 2024.
- Based on application, the manufacturing segment is projected to account for 57.50% in 2024.
- The United States industrial gas market is expected to accelerate at a CAGR of 4.30% over the forecast period.
- The Spain industrial gas market is predicted to expand at a 5.80% CAGR in the next 10 years.
- The India and China market are projected to surge at CAGRs of 11.60% and 8.70%, respectively, in the upcoming years.
New Developments Bringing Advancements in the Industrial Gas Market
- In February 2022, Linde announced gained a long-term contract with BASF to provide steam and hydrogen. The Linde’s capacity in the chemical park at Chalampé, France is going to be essentially doubled by the operation and construction of the latest hydrogen production facility. The new production facility of BASF hexamethylenediamine (HMD) will be supplied by this plant.
- In January 2022, Air Liquide invested approximately EUR 40 million in an Air Separation Unit (ASU) specialized in Industrial Merchant activities. The ASU is developed, owned, and operated by Air Liquide India.
- In February 2021, Air Products Inc. opened a new cryogenic nitrogen plant in the Bayan Lepas of Malaysia, which is expected to assist the company’s operations.
Industrial Gas Market Top Players
- Yingde Gases Group Company Limited
- Air Liquide S.A
- Linde Group
- Airgas Inc.
- Messer Group
- Buzwair Industrial Gases Factories
- Air Products and Chemicals Inc.
- Taiyo Nippon Sanso Corporation
- Air Water Incorporation
- BASF SE
- Others
Market Segmentation of Industrial Gas
By Product Type:
- Oxygen
- Nitrogen
- Carbon dioxide
- Hydrogen
- Argon
- Acetylene
- Others
By Application:
- Manufacturing
- Healthcare
- Food and Beverages
- Metallurgy and Glass
- Chemicals and Energy
- Retail
- Others
By Distribution:
- On-site
- Bulk (Liquid Gas Transport)
- Cylinder (Merchant)
Different Regional Markets are as follows:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
Advancements in Industrial Gases and Renewable Energy: Discover the Latest Trends and Investments—Read the Complete Report for In-Depth Analysis!
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries. Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube