The US and global industrial gases market will reach $ 146.6 billion by 2028; Growing Adoption of Industrial Gases in Oil & Gas Industry, Food & Beverage Industry, and Chemical Industry Drives Market, Says Vantage Market Research

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WASHINGTON, Nov 21, 2021 (GLOBE NEWSWIRE) – The global industrial gases market size is expected to reach $ 146.6 billion by 2028, with a CAGR of 6% during the forecast period. The increasing industrialization in large cities and the application of industrial gases in the pharmaceutical, food, oil and gas industry is expected to boost the industrial gas market. Industrial gases such as nitrogen, oxygen, neon, helium, hydrogen and others are used in industries for their processes, these gases are important in manufacturing reactions of various products. The demand for these gases is increasing rapidly among developing countries leading to market growth, says Vantage Market Research, in a report titled “Industrial Gases Market By Type (Nitrogen Oxygen Carbon Dioxide Argon Hydrogen) By Application (Oil & Gas, Chemical Industry, Electrical Industry, Mining Industry, Steel Industry), By Region (North America, Europe, Asia Pacific, Latin America and Middle East and Africa): Global Market Assessment, 2021 – 2028. ” The market size was USD 89.6 billion in 2020. The impact of COVID-19 on market demand is taken into account while estimating the current and projected market size and market growth trends for all regions and countries based on the following data points:

  1. Assessment of the impact of the COVID-19 pandemic

  2. Quarterly Market Revenue Forecast by Region 2020 and 2021

  3. Key strategies implemented by companies to fight COVID-19

  4. Long-term dynamics

  5. Short-term dynamics

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Industrial Gases Market Report Highlights:

  • Market assessment

  • Premium previews

  • Competitive landscape

  • COVID impact analysis

  • Historical data, estimates and forecasts

  • Company Profiles

  • Global and regional dynamics

Market Snapshot:

Increasing industrial gas requirement in chemical industry is driving market growth

Industrial gases are mainly composed of carbon dioxide, carbon monoxide, hydrogen, argon, nitrogen, oxygen, helium and krypton-xenon, including atmospheric gases such as oxygen, nitrogen and argon are captured by reducing the air temperature until the respective components liquefy and separate. These gases are widely used for industrial processes such as gas welding, automotive manufacturing, healthcare equipment and others. The use of these gases is in great demand due to its special properties, for example, oxygen and nitrogen are used in gas welding, and this process is commonly used in manufacturing industry. Likewise, other gases are used in different processes; Hence, the huge requirement of the industrial sector drives the growth of the market.

Increased demand for Industrial gases in the medical sector

Recently, due to the epidemic of Covid-19 pandemic, countries such as India and China have faced a huge shortage of oxygen as it is used as an important content in medical ventilators. This gas had huge market demand as it was crucial medical equipment needed during the pandemic. Likewise, other gases are used in the medical sector, such as nitrous oxide, medical air, entonox, carbon dioxide and heliox are commonly used in respiratory equipment. For example, nitrogen is used in pre-flight lung diagnostics to calculate a person’s ability to respond to a simulated aircraft cabin environment. Carbon dioxide can be used at the time of insufflation and can be infused with oxygen for stimulation of respiratory simulation. The increasing adoption of these gases in the healthcare sector is driving the growth of the market.

Regional analysis:

Growing use of industrial gases in the Asia-Pacific region

Asia-Pacific is expected to grow at the highest CAGR in the coming years. This is attributed due to the high demand and growth in the industrial sector. Population growth and rapid urbanization are the key factors in the growth of the industrial gas market. According to the Asia Industrial Gases Association (AIGA), the growth of industrial gases in countries such as India, China, New Zealand, Singapore, Malaysia and various others is expected to increase due to rapid industrialization and of demand for medical gases, especially in countries such as China and India.

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List of the main players in the industrial gases market:

Sr. No.

Companies

HEADQUARTER

1.

Liquid air

Paris, France

2.

Air Products Inc.

Allentown, Pennsylvania, United States

3.

Linde AG

Dublin, Ireland

4.

Messer GmbH Group

Bad Soden, Germany

5.

BASF SE

Ludwigshafen, Germany

6.

Gulf Cryo

Kuwait Dubai, United Arab Emirates

7.

Bhuruka Gases Ltd.

Karnataka, India

Recent developments in the industry:

1 In November 2021, FIBA Technologies aims to double its production capacity in anticipation of the growth in storage and transport of hydrogen after starting work on the expansion of its US headquarters. FIBA is investing several million dollars to expand its manufacturing facilities at its headquarters in Littleton, Massachusetts, install new equipment and increase its skilled workforce.

2. In November 2021, Severstal, Schneider Electric and Air Liquide have joined forces to support a low-carbon future as part of a new memorandum of understanding on the climate. Supporting the development and implementation of low-carbon technologies and establishing climate-responsible interaction with stakeholders are also key priorities for the trio.

This market entitled “Industrial gas market will cover proprietary information in terms of geographic segmentation, regional analysis, forecast, quantitative date – units, key market trends and several others as mentioned below:

Report attribute

Details

Year of reference

2020

Historical years

2016 – 2019

Forecast years

2021 – 2028

Covered segments

Quantitative Data – Units

Revenue in millions USD / billion and CAGR from 2021 to 2028

Regions covered

North America, Europe, Asia-Pacific, Latin America, Middle East and Africa, and rest of the world

Covered countries

United States, Canada, Mexico, United Kingdom, Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC countries and South Africa, among others

Cover of the report

Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, market share analysis of the business and impact assessment of COVID-19.

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Contents –

    1. Chapter n ° 1: Introduction

      1. Scope of the report

      2. Objectives of the study

      3. USP Offers and Keys

      4. Target audience

      5. Vantage Tips / Walkthrough Market Research Report

    2. Chapter 2: Premium Previews

      1. Market Snapshot

      2. Better investment pockets

        1. Market attractiveness analysis, by type

        2. Market attractiveness analysis, by application

        3. Market attractiveness analysis, by Asia-Pacific

      3. Views of key informants

    3. Chapter 3: Key Market Dynamics

      1. introduction

      2. Market factors

      3. Market constraints

      4. Market opportunities

      5. Porter’s Five Forces Analysis

      6. PEST analysis

      7. Regulatory landscape

      8. Technological landscape

      9. Regional market trends

      10. Price Analysis

      11. Patent analysis

      12. Value chain analysis

      13. Downstream buyers

      14. List of distributors / traders

    4. Chapter 4: Competitive landscape

      1. Competition matrix – 2020

      2. Company Market Share Analysis – 2020

        1. Company market share, 2020

        2. Enterprise Market Revenue, 2017 – 2020 (USD Million)

        3. Annual business growth, 2018 – 2020 (%)

      3. Strategic developments

        1. Acquisitions & Mergers

        2. New product launch

Table of contents (continued)

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