Global Industrial Gases Market

Industrial Gases Market Size, Share, Growth Analysis, By Product Type(Oxygen, Nitrogen, Carbon Dioxide), By Distribution Channel(Cylinder, On-site), By End User(Energy, Residential, Commercial, Transport), By Region - Industry Forecast 2024-2031


Report ID: SQMIG10B2039 | Region: Global | Published Date: February, 2024
Pages: 257 |Tables: 91 |Figures: 76

Industrial Gases Market Insights

Industrial Gases Market size was valued at USD 94.52 billion in 2019 and is poised to grow from USD 100.32 billion in 2023 to USD 161.8 billion by 2031, growing at a CAGR of 6.16% in the forecast period (2024-2031).

Industrial gases are created as gaseous products for use in a wide range of industrial production processes at ambient temperature and pressure. Pure gases, compounds, and gas mixes are among them. Oxygen, nitrogen, hydrogen, carbon dioxide, carbon monoxide, acetylene, and noble gases are some of the most widely used industrial gases. Industrial gases are provided via gas cylinders, bulk liquid, or pipelines in either gaseous or liquified form. The industrial gases market is fueled by an increase in global oil & gas refining capacity as well as increased natural gas consumption for home and industrial applications.

Growing demand for industrial gases from key end-use sectors such the oil and gas, chemicals, petrochemicals, food and beverage, and power industries. The increasing use of industrial gases in various sectors such as construction, metals, mining, and food services is driving the market's expansion. Furthermore, increasing global demand for electronic gadgets and renewables are driving market expansion. Furthermore, rising crude oil consumption and the necessity for refining may boost demand for industrial gases during the anticipated period.

US Industrial Gases Market is poised to grow at a sustainable CAGR for the next forecast year.

Market Snapshot - 2024-2031

Global Market Size

USD 94.52 billion

Largest Segment

Cylinder

Fastest Growth

On-site

Growth Rate

6.16% CAGR

Global Industrial Gases Market, 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)

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Industrial Gases Market Segmental Analysis

Global Industrial Gases Market is segmented based on the Product Type, Distribution Channel, End User, and region. Based on the Type, the Global Industrial Gases Market is segmented as Oxygen, Nitrogen, and Carbon Dioxide. Based on the Distribution Channel, the Global Industrial Gases Market is segmented as Cylinder and On-site. Based on End User, the Global Industrial Gases Market is segmented as Energy, Residential and Commercial, Transport, and Industry. Based on Region Industrial Gases Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.

Industrial Gases Market Analysis by Product Type

In 2021, Oxygen had the highest revenue share. It is well recognized to increase the fuel's thermal efficiency. In addition to being used to gasify coal, oxygen is also employed to treat hazardous wastes and polluted water. In order to lessen pollution, the gas can also take the place of chlorine in the pulp and paper sector. The medical sector uses oxygen extensively as well. As a result, the demand for industrial oxygen is anticipated to increase in the upcoming years due to the widespread use of oxygen in numerous sectors.

Due to increased use of carbon dioxide for gas-based enhanced oil recovery in countries including the United States, Canada, Mexico, Brazil, and oil-producing nations in the Middle East, carbon dioxide is predicted to see substantial growth throughout the projection period. Additionally, the use of enhanced oil recovery to boost the effectiveness of oil production from oil wells will significantly grow as a result of fluctuating crude oil prices and an increase in the number of mature wells throughout the world.

Industrial Gases Market Analysis by Distribution Channel

In 2021, the cylinder segment had the highest revenue where packed cylinders are used to deliver gases (high-pressure gas or low-pressure liquid). However, this method of delivery is only suitable for clients with a modest need for industrial gases. Gases including nitrogen, oxygen, argon, helium, and hydrogen may easily be compressed into a cylinder at pressures of up to 300 bars for cylinder distribution. Additionally, several gases are available in liquid form at ambient temperature.

Over the projected period, the on-site category is anticipated to increase at the quickest rate. The setting up of the filing station at the firm facility or another location is included in the on-site section. Large amounts of gases at a range of pressures and states are supplied using this distribution method. The industry is anticipated to expand significantly because on-site generation eliminates a number of issues related to the transportation and distribution of hydrogen. Due to new technologies becoming available at lower prices than provided distribution routes, on-site hydrogen generation in small-scale companies has grown in favor.

Industrial Gases Market Analysis by End User

With consumption expanding at an average annual rate of more than 3.1%, the industrial sector is anticipated to be the key driver of rising gas demand through the year 2028. Gas usage as a fuel for industry, which is mostly driven by China, India, and growing Asian markets, and demand for natural gas as a feedstock for chemicals and fertilizers, that is mainly driven by gas producers and exporters, both contribute to growth in this way.

A mild heating season and lockdown-induced limits on business activities hurt the residential and commercial sectors in 2021. As development potential outside of a select group of nations, led by China, India, and Iran, that are continuing to build their city gas distribution networks, is still restricted, such a comeback is anticipated to remain an exceptional occurrence. Gas as a transport fuel is predicted to expand at a higher pace of more than 4.8%, largely due to the rising use of LNG for trucks and river transport in Asia. Growing gas production and processing capacity supports the rise of the energy sector's own consumption, at an average 2%.

Global Industrial Gases Market By Distribution Channel , 2021(%), 2023 (%)

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Industrial Gases Market Regional Insights

The Asia-Pacific region's gas production is expected to increase by more than 6.8%. The majority of the region's growth is being driven by China, where domestic gas production is expected to increase by over 21.7% by 2028 as a result of continuing official support for increasing gas output. India is anticipated to expand and generate more in comparison to 2021. More seasoned suppliers like Malaysia and Indonesia, however, experience a slight dip during the projection period. While Norwegian production is rebounding following the decline in 2020 and significant maintenance in 2021, other European domestic production is anticipated to have a nearly 25% decline. This is a result of the North Sea's depleting fields, the Netherlands's closure of Groningen, and the terminal output reduction of smaller fields there and around Europe.

Global Industrial Gases Market By Geography, 2021 - 2028, 2024-2031
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Industrial Gases Market Dynamics

Industrial Gases Market Driver

  • The efficiency with which the steel and refining industries are managed is one of the key elements promoting the growth of the industrial gases market. Additionally, the government is investing a significant amount of money in various research and development (R&D) projects to support a number of businesses, which is assisting the market's expansion.
  • The demand for many industry-grade gases is being driven by the rising demand for a number of surgical and respiratory applications. A higher demand for products is also being caused by the considerable expansion of the healthcare sector, which has seen significant development as a result of the COVID-19 epidemic. The industry is anticipated to experience favorable growth in the approaching years as patient improvement and infrastructure improvement become increasingly important. Furthermore, the adoption of technologically advanced procedures used in healthcare applications, such as the use of nitrogen to maintain essential tissue and blood, is expected to aid in the growth of the worldwide industrial gases market over the next few years.

Industrial Gases Market Restraint

  • Industrial gas emissions into the atmosphere contribute to global warming and air pollution. As a result, manufacturers and regulatory agencies have found it difficult to avoid and accept natural-based industrial gases, as well as meet the need for experienced staff while working with flammable gases. Climate change, health-care needs, increased energy consumption, and expanding infrastructure projects are all contributing to a growing awareness of the need to develop sustainable Industrial Gases.
  • Changes in one process can endanger the creation of feedstock for another in the highly interrelated world of chemical synthesis. The infrastructure required for raw material extraction, production, and manufacture is very expensive, which keeps polluting methods in place and prevents technological advancement. Another potential source of inertia comes from the educational system, as most engineering, product design, and chemical synthesis students receive little to no training in how to incorporate sustainability and safety considerations into product design.

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Industrial Gases Market Competitive Landscape

Global Industrial Gases market is consolidated. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies in order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.

Industrial Gases Market Top Player's Company Profiles

  • Linde plc
  • Air Liquide
  • Air Products and Chemicals, Inc.
  • Praxair, Inc.
  • Taiyo Nippon Sanso Corporation
  • Messer Group GmbH
  • Yingde Gases Group Co., Ltd.
  • Gulf Cryo
  • Universal Industrial Gases, Inc.
  • Coregas Pty Ltd
  • Matheson Tri-Gas, Inc.
  • SOL Group
  • The BOC Group Limited
  • Nippon Gases
  • Air Water Inc.
  • TAIYO TOYO SANSO Corporation
  • Asia Technical Gas Co. (Pte) Ltd
  • Iceblick Ltd
  • Airgas, Inc.
  • Iwatani Corporation

Industrial Gases Market Recent Developments

  • In June 2022, Air Products has said it will support China’s new round of development, with a focus on the energy transition, as it looks to help the country meet its decarbonisation goals and lay the foundations for a cleaner future.
  • In April 2022, Cryogenic Industrial Solutions (CIS) has confirmed its acquisition of Colorado-based NITRO Crete. NITRO Crete will continue to be led by its current CEO Stephen De Bever.

Industrial Gases Key Market Trends

  • Bulk oxygen is frequently needed in the medical field to reduce the risk of having too much oxygen in the lungs or other body tissues during operations and to provide artificial breathing. Nitrogen is used in pre-flight lung diagnosis to determine an individual's ability to respond to a simulated aeroplane cabin environment. Carbon dioxide can be utilised during insufflation and combined with oxygen to stimulate respiratory simulation.
  • Power-to-Liquids technologies are receiving more investment as they move closer to scaling up commercialization because e-fuels like e-methane, e-kerosene, and e-methanol provide a method to replace traditional fossil fuels in operating internal combustion engines.

Industrial Gases Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.

According to our Global Industrial Gases Market Analysis, in terms of product type, the oxygen segment held the largest share due to effects of covid-19 pandemic. In terms of distribution channel, the cylinder segment accounted for a maximum market share as various gases are easily compressed and are easy to handle followed by on-site due to introduction of new technologies the Industrial Gases market is likely to witness upswings. In terms of end user, the industrial sector expected for the largest share in coming years.

Report Metric Details
Market size value in 2023 USD 94.52 billion
Market size value in 2031 USD 161.8 billion
Growth Rate 6.16%
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Product Type
    • Oxygen, Nitrogen, Carbon Dioxide
  • Distribution Channel
    • Cylinder, On-site
  • End User
    • Energy, Residential, Commercial, Transport, Industry
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Linde plc
  • Air Liquide
  • Air Products and Chemicals, Inc.
  • Praxair, Inc.
  • Taiyo Nippon Sanso Corporation
  • Messer Group GmbH
  • Yingde Gases Group Co., Ltd.
  • Gulf Cryo
  • Universal Industrial Gases, Inc.
  • Coregas Pty Ltd
  • Matheson Tri-Gas, Inc.
  • SOL Group
  • The BOC Group Limited
  • Nippon Gases
  • Air Water Inc.
  • TAIYO TOYO SANSO Corporation
  • Asia Technical Gas Co. (Pte) Ltd
  • Iceblick Ltd
  • Airgas, Inc.
  • Iwatani Corporation
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Historical Year 2019

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Industrial Gases Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Industrial Gases Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Industrial Gases Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Industrial Gases Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Industrial Gases Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Industrial Gases Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Industrial Gases Market size was valued at USD 94.52 billion in 2019 and is poised to grow from USD 100.32 billion in 2023 to USD 161.8 billion by 2031, growing at a CAGR of 6.16% in the forecast period (2024-2031).

Industrial Gases market is consolidated. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies in order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D. 'Linde plc', 'Air Liquide', 'Air Products and Chemicals, Inc.', 'Praxair, Inc.', 'Taiyo Nippon Sanso Corporation', 'Messer Group GmbH', 'Yingde Gases Group Co., Ltd.', 'Gulf Cryo', 'Universal Industrial Gases, Inc.', 'Coregas Pty Ltd', 'Matheson Tri-Gas, Inc.', 'SOL Group', 'The BOC Group Limited', 'Nippon Gases', 'Air Water Inc.', 'TAIYO TOYO SANSO Corporation', 'Asia Technical Gas Co. (Pte) Ltd', 'Iceblick Ltd', 'Airgas, Inc.', 'Iwatani Corporation'

The efficiency with which the steel and refining industries are managed is one of the key elements promoting the growth of the industrial gases market. Additionally, the government is investing a significant amount of money in various research and development (R&D) projects to support a number of businesses, which is assisting the market's expansion.

Bulk oxygen is frequently needed in the medical field to reduce the risk of having too much oxygen in the lungs or other body tissues during operations and to provide artificial breathing. Nitrogen is used in pre-flight lung diagnosis to determine an individual's ability to respond to a simulated aeroplane cabin environment. Carbon dioxide can be utilised during insufflation and combined with oxygen to stimulate respiratory simulation.

The Asia-Pacific region's gas production is expected to increase by more than 6.8%. The majority of the region's growth is being driven by China, where domestic gas production is expected to increase by over 21.7% by 2028 as a result of continuing official support for increasing gas output. India is anticipated to expand and generate more in comparison to 2021. More seasoned suppliers like Malaysia and Indonesia, however, experience a slight dip during the projection period. While Norwegian production is rebounding following the decline in 2020 and significant maintenance in 2021, other European domestic production is anticipated to have a nearly 25% decline. This is a result of the North Sea's depleting fields, the Netherlands's closure of Groningen, and the terminal output reduction of smaller fields there and around Europe.

Industrial Gases Market size was valued at USD 94.52 billion in 2021 and is poised to grow from USD 100.32 billion in 2022 to USD 161.8 billion by 2030, growing at a CAGR of 6.16% in the forecast period (2023-2030).

Industrial Gases market is consolidated. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies in order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D. 'Linde plc', 'Air Liquide', 'Air Products and Chemicals, Inc.', 'Praxair, Inc.', 'Taiyo Nippon Sanso Corporation', 'Messer Group GmbH', 'Yingde Gases Group Co., Ltd.', 'Gulf Cryo', 'Universal Industrial Gases, Inc.', 'Coregas Pty Ltd', 'Matheson Tri-Gas, Inc.', 'SOL Group', 'The BOC Group Limited', 'Nippon Gases', 'Air Water Inc.', 'TAIYO TOYO SANSO Corporation', 'Asia Technical Gas Co. (Pte) Ltd', 'Iceblick Ltd', 'Airgas, Inc.', 'Iwatani Corporation'

The efficiency with which the steel and refining industries are managed is one of the key elements promoting the growth of the industrial gases market. Additionally, the government is investing a significant amount of money in various research and development (R&D) projects to support a number of businesses, which is assisting the market's expansion.

Bulk oxygen is frequently needed in the medical field to reduce the risk of having too much oxygen in the lungs or other body tissues during operations and to provide artificial breathing. Nitrogen is used in pre-flight lung diagnosis to determine an individual's ability to respond to a simulated aeroplane cabin environment. Carbon dioxide can be utilised during insufflation and combined with oxygen to stimulate respiratory simulation.

The Asia-Pacific region's gas production is expected to increase by more than 6.8%. The majority of the region's growth is being driven by China, where domestic gas production is expected to increase by over 21.7% by 2028 as a result of continuing official support for increasing gas output. India is anticipated to expand and generate more in comparison to 2021. More seasoned suppliers like Malaysia and Indonesia, however, experience a slight dip during the projection period. While Norwegian production is rebounding following the decline in 2020 and significant maintenance in 2021, other European domestic production is anticipated to have a nearly 25% decline. This is a result of the North Sea's depleting fields, the Netherlands's closure of Groningen, and the terminal output reduction of smaller fields there and around Europe.

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Global Industrial Gases Market

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