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| Industrial Gases Market Scope |
| Report Coverage |
Details |
| Base year |
2024 |
| Historic period |
2019 - 2023 |
| Forecast period |
2025-2029 |
| Growth momentum & CAGR |
Accelerate at a CAGR of 5.7% |
| Market growth 2025-2029 |
USD 31.1 billion |
| Market structure |
Fragmented |
| YoY growth 2022-2023 (%) |
5.5 |
| Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
| Performing market contribution |
APAC at 45% |
| Key countries |
China, US, Japan, Canada, Germany, India, UK, South Korea, France, and Italy |
| Key companies profiled |
Air Liquide SA, Air Products and Chemicals Inc., AIR WATER INC., Airgas Inc., Asia Technical Gas Co Pte Ltd., BASF SE, Buzwair Industrial Gases Factories, Chemix Specialty Gases and Equipment, Coregas Pty Ltd., Goyal Group, Guangdong Huate Gas Co. Ltd., Gulfcryo, Iwatani Corp., Linde Plc, Messer SE and Co. KGaA, Norco Inc., SOL Spa, Taiyo Nippon Sanso Corp., and Yingde Gas Group Co. Ltd. |
Market Driver
The industrial gases market is experiencing substantial growth, driven by rising demand across diverse industries. Nitrogen, Hydrogen, Oxygen, and specialty gases are in high demand for chemicals and fertilizers production, as the global population grows and urbanization continues. In the agriculture sector, nitrogen is used for fertilizers, while hydrogen is essential for ammonia production. The frozen food market's expansion drives the demand for carbon dioxide as a refrigerant. Hydrogen is a key component in semiconductor fabrication processes, fuel cells, and electronics. Safety regulations are crucial in industries dealing with these gases to ensure employees' safety and ecosystem protection. Oxygen, argon, and other ultra-high purity gases are vital in semiconductor manufacturing, flat-panel displays, LED lights, and solar cells. Industrial gases are used in steel melting, copper smelting, and thermal efficiency improvement in fuel. Wastewater treatment and environmental remediation also require industrial gases like nitrogen and oxygen. Major players in the industrial gases market include Linde, Air Liquide, Messer, and Air Products & Chemicals. The cylinder segment dominates the market, with liquid gas transport and packaging facilities using thin-walled steel and composite aluminum cylinders for distribution. The rubber industry uses industrial gases for non-abrasive cleaning, molding, and production downtime reduction.
The industrial gases market is characterized by a large number of small and medium-sized companies operating regionally. Mergers and acquisitions (M&A) are common strategies for larger industrial gases companies to increase market share, attain economies of scale, and enhance operational efficiency. In May 2023, Air Products announced an investment agreement with the Government of the Republic of Uzbekistan and Uzbekneftegaz JSC to acquire a natural gas-to-syngas processing facility in Uzbekistan for USD1 billion. This acquisition will expand Air Products' product portfolio and improve its market reach in the region. Other companies are also pursuing similar strategies to meet the evolving needs of customers across various industries and stay competitive in the market.
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Market Challenges
The Industrial Gases market is experiencing significant growth due to increasing demands in various sectors. Nitrogen, Hydrogen, Oxygen, and other gases are essential in Chemicals, Fertilizers, and Agriculture industries. Global population growth and urbanization drive the need for food and beverages, leading to increased demand for carbon dioxide in the frozen food market. In the Electronics sector, gases like Argon, Oxygen, and Ultra-high purity gases are crucial for semiconductor fabrication processes. Safety regulations are a major challenge, ensuring employees' safety and protecting the ecosystem. Carbon dioxide, used in coal gasification systems and as a fuel, requires strict safety protocols. In the Healthcare sector, gases like Oxygen and Chlorine are vital for virus treatment and infected patients. Market leaders like Linde, Air Liquide, Messer, and Air Products & Chemicals face challenges in Cylinder segment manufacturing, with a focus on Liquid Gas Transport and Packaging facilities using thin-walled steel and composite aluminum cylinders. The Rubber industry relies on gases like Nitrogen for non-abrasive cleaning and molding rubber products, minimizing production downtime. Other applications include Acetylene for steel melting and copper smelting, and specialty gases for various industries. The Semiconductor market demands gases for flat-panel displays, LED lights, and solar cells, while the Fuel sector requires gases for thermal efficiency and cleanup of hazardous waste. Overall, the Industrial Gases market faces challenges in ensuring safety, sustainability, and efficiency while catering to diverse industries' demands.
Industrial gases are essential for various industries, including manufacturing, processing, and packaging. The safe distribution of these gases from production centers to the point of use is critical. Impurities in industrial gases, even in parts per million, can significantly impact processes. Distribution systems for food and beverage and healthcare sectors must adhere to stringent standards. Industrial gases can be transported in owners' trolleys or cylinders, which must be returned for refilling and dispatch. Alternative methods of distribution include pipelines, bulk transport via ships, and trucks. Ensuring the quality and safety of industrial gases throughout the supply chain is a top priority.
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Segment Overview
This industrial gases market report extensively covers market segmentation by
End-user
1.1 Manufacturing
1.2 Chemical processing
1.3 Metal fabrication
1.4 Energy
1.5 Others
Type
2.1 Hydrogen
2.2 Oxygen
2.3 Nitrogen
2.4 Carbon dioxide
2.5 Others
Geography
3.1 APAC
3.2 Europe
3.3 North America
3.4 South America
3.5 Middle East and Africa
1.1 Manufacturing- Industrial gases play a crucial role in various manufacturing industries, including aerospace, automotive, glass, ceramics, pulp and paper, shipbuilding, and railways coach and wagon manufacturing. These gases, such as oxygen, nitrogen, hydrogen, and carbon dioxide, are essential for numerous manufacturing processes. In the automotive industry, they are used for automobile parts production, body manufacturing, and repairing. Industrial gases are also employed in energy-related processes, like hydrogen production for fuel cells and carbon capture and storage. The increasing focus on sustainability and environmental responsibility in industries is driving the demand for industrial gases in cleaner energy solutions. Industrialization and infrastructure development in emerging economies are further fueling the need for manufactured goods, thereby increasing the demand for industrial gases in manufacturing processes. The manufacturing sector's demand for industrial gases is anticipated to continue growing as industries evolve, regulations become more stringent, and innovative applications emerge. This growth is expected to drive the expansion of the global industrial gases market during the forecast period.
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Research Analysis
The Industrial Gases market is a significant sector that caters to various industries, including Chemicals, Fertilizers, Steel, Semiconductors, and others. The market is driven by the global population growth and urbanization, leading to an increased demand for food preservation in the frozen food market and the need for clean water through wastewater treatment. Nitrogen, Hydrogen, Oxygen, and Carbon Dioxide are the primary industrial gases in high demand. Industrial gases find extensive applications in sectors like Agriculture, where Nitrogen is used as a fertilizer, and in the production of chemicals and fertilizers. Hydrogen is crucial in the semiconductor industry, while Oxygen is essential in steel melting and copper smelting. Carbon Dioxide is used as a fuel and in coal gasification systems, while Liquid Nitrogen is used for cryogenic applications. Other gases like Chlorine and Acetylene are used in various industries, including environmental remediation and thermal efficiency improvements. The market is expected to grow significantly due to the increasing demand for these gases across various industries. Employees in this sector work in various roles, from production and distribution to research and development. The market's future looks promising, with potential applications in the cleanup of hazardous waste and the expansion of the virus treatment industry. Key players in the market include Linde, Air Liquide, and Messer, among others.
Market Research Overview
The Industrial Gases market encompasses a diverse range of gases including Nitrogen, Hydrogen, Oxygen, and their derivatives. These gases find extensive applications in various sectors such as Chemicals, Fertilizers, and Food and Beverages. With the global population growth and urbanization, the demand for these gases is increasing, particularly in the Agriculture sector for crop production and in the Frozen food market for preservation. Hydrogen and Oxygen are essential for fuel cells and life support systems, respectively. Carbon dioxide is used in the Food industry as a refrigerant and in the Semiconductor market for semiconductor fabrication processes. Safety regulations are stringent in the handling and distribution of these gases to ensure employees' safety and protect the ecosystem. Specialty gases such as Argon, used in welding and semiconductor fabrication processes, and ultra-high purity gases, used in the production of flat-panel displays and LED lights, are also in high demand. Industrial gases are used in various industries such as Steel, Solar, and Coal gasification systems, and in the production of Chlorine, Acetylene, and other chemicals. In the current scenario, there is a growing focus on reducing production downtime and increasing thermal efficiency, making gases an essential component in various industries. The Cylinder segment, which includes Liquid Gas Transport and Packaging facilities, is a significant part of the Industrial Gases market, with companies using thin-walled steel and composite aluminum cylinders for bulk and onsite distribution. The market also caters to niche applications such as Dry ice for non-abrasive cleaning in the Rubber industry and molded rubber products. The Industrial Gases market also plays a crucial role in wastewater treatment and environmental remediation. The market is competitive, with major players including Linde, Air Liquide, Messer, and Air Products & Chemicals, among others. The market is also impacted by factors such as the Semiconductor market, Electronic devices, and the growing demand for cleaner fuels. The ongoing COVID-19 pandemic has also affected the market, with disruptions in supply chains and increased safety protocols.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
End-user
Manufacturing
Chemical Processing
Metal Fabrication
Energy
Others
Type
Hydrogen
Oxygen
Nitrogen
Carbon Dioxide
Others
Geography
APAC
Europe
North America
South America
Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
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