Industrial Gases Industry 2023-2030: Market Analysis and Projections
Industrial Gases Industry | Forecast 2030
Industrial Gases Industry Data Book - Oxygen, Nitrogen, Hydrogen, Carbon Dioxide, Argon and Acetylene Market
The economic value generated by the industrial gas market was estimated at approximately USD 99.9 billion in 2022. This economic output is an amalgamation of industrial gas products including nitrogen, hydrogen, carbon dioxide, oxygen, argon, and acetylene.
Global industrial gases market’s growth is driven by increasing consumption of industrial gases in a wide range of end-use industries such as steel, cement, water treatment, automotive, food & beverages, plastics and rubbers, medical, and others. Increasing industrialization in the growing economies of the world is expected to the driving force behind the growing consumption of industrial gases.
Access the Global Industrial Gases Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies
Nitrogen Gas Market Insights
The global nitrogen gas market size was valued at USD 40.2 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 7.1% from 2023 to 2030. Nitrogen gas is widely used in various industrial sectors, such as chemicals, pharmaceuticals, electronics, and metal fabrication. The growth of the nitrogen gas industry is driven by the expansion of industrial activities and the rising demand for nitrogen gas in various sectors. In the pharmaceutical industry, the market plays a crucial role in the packaging of various medications to extend their shelf life and to secure their quality and integrity. It is used during the manufacturing process to create an inert environment, preventing oxidation or degradation of sensitive pharmaceutical compounds. It is commonly used in packaging to displace oxygen and extend the shelf life of medications and drug products.The expansion of industrial activities and the increasing demand for products in these sectors contribute to the growth of the market.
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Argon Gas Market Insights
The global argon gas market size was valued at USD 10.20 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 6.8% from 2023 to 2030. Growing consumption of the product in automobiles, transportation equipment, stainless steel manufacturing plants, fabricated metalworking units, among others is likely to boost the market growth in the coming years. Moreover, due to its superior thermal insulation capabilities over air, it is one of the most often utilized gases to fill scuba divers' dry suits.
Argon is produced through fractional distillation of liquid air. It is frequently used as an alternative to nitrogen, thereby leading to its surged consumption in various applications across the globe. It is utilized to create an inert barrier between molten metals and slags and atmospheric oxygen, nitrogen, or carbon dioxide. In addition, the product’s resistance to heat cracking and other properties, such as its high thermal conductivity, allows for quick travel rates throughout the welding process, make it vital when welding stainless steel.
Acetylene Gas Market Insights
The global acetylene gas market size was valued at USD 3.6 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 5.4% from 2023 to 2030. The primary factors driving the market is the increasing demand for acetylene in various end-use industries, such as chemical manufacturing, metal fabrication, and automotive manufacturing. Acetylene gas is primarily used as a fuel gas for cutting, welding, and brazing applications due to its high flame temperature and quick ignition. The market demand for acetylene gas is expected to experience further growth due to the increasing demand for metal cutting and welding applications. Moreover, the healthcare sector is emerging as another key driver for the market, with rising demand for the market in the treatment of various medical conditions, including hypertension and angina.
Go through the table of content of Industrial Gases Industry Data Book to get a better understanding of the Coverage & Scope of the study
Table of Contents - Sectoral Outlook Report
Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Purchased Database
1.3.2. GVR’s Internal Database
1.3.3. Secondary Sources & Third-Party Perspectives
Chapter 2. Executive Summary
2.1. Industry Snapshot
2.2. Key Trends - Highlights
Chapter 3. Industry Trend Analysis
3.1. Regulatory Framework & Benchmark
3.2. Value Chain Analysis
3.2.1. Technological Outlook
3.2.2. Cost Structure Analysis %age, By Product
3.3. Industrial Gas Trade Analysis
3.3.1. Imports, by Region & Key Countries, 2017 - 2021
3.3.2. Exports, by Region & Key Countries, 2017 - 2021
3.4. Competitive Benchmarking
3.4.1. Manufacturing Ranking & Heat-map Analysis
3.4.2. Distribution Channel Analysis
3.5. Macroenvironmental Trend Analysis
3.5.1. Industry Driving Forces & Impact Analysis
3.5.2. Opportunities & Challenges
Chapter 5. Company Profiles
5.1. Air Liquide
5.2. Air Products Inc.
5.3. INOX-Air Products Inc.
5.4. Iwatani Corp.
5.5. Linde plc
5.6. Messer
5.7. SOL Group
5.8. Strandmøllen A / S
5.9. Taiyo Nippon Sanso Corp.
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