Global Industrial Gases Market Gaining Momentum—Projected to Reach USD 147.1 Billion by 2027

The Leading Players operating in the Market are The Linde Group, Air Liquide S.A., Praxair Inc., Taiyo Nippon Sanso Corporation, Matheson Tri-Gas Inc., Air Products and Chemicals, Inc., Iwatani Corporation, Messer Group GmbH, Gulf Cryo, Yingde Gas Group Co., Ltd., and others


Noida, India, April 29, 2021 (GLOBE NEWSWIRE) -- A study recently conducted by the strategic consulting and market research firm BlueWeave Consulting revealed that the global industrial gases market was worth USD 93.1 billion in 2020 and is further projected to reach USD 147.1 billion by 2027, at a CAGR of 6.5% during the forecast period (2021-2027). The market is driven by factors, such as growing applications in the healthcare sector, expanding food & beverages industry, and growing applications in electronics and semiconductors.

Request for Free sample of this report: https://www.blueweaveconsulting.com/global-industrial-gases-market-report/report-sample

The growing application of industrial gases in the healthcare sector is expected to propel the global industrial gases market growth during the forecast period.
Industrial gases are increasingly used in the healthcare sector for various purposes. Oxygen is one of the most widely used industrial gas in the healthcare sector. It provides respiratory assistance in the event of breathing difficulties, and oxygen cylinders are used to aid breathing. Medical air is an ultra-pure, sterile, compressed source of air that is used in respiratory therapy and humidity treatments for extremely sensitive respiratory systems. Amid the ongoing oxygen crisis in India caused by the COVID-19-induced pandemic, IFFCO( Indian farmers fertilizer Cooperative) announced that its Kalol Oxygen plant would produce 33,000 liters of medical-grade oxygen per day.

Carbon dioxide is also used extensively in the medical sector. It is used to diagnose chronic respiratory conditions such as asthma, bronchitis, COPD, and others. It is also used in the treatment of cancer in combination with radiation therapy. Industrial gases are also used in the healthcare sector to provide oxygen and anesthetic mixtures for renal dialysis, chronic respiratory obstruction, and cardio-pulmonary bypass surgery. The growing use of industrial gases in the healthcare sector is expected to propel the global industrial gases market forward during the forecast period.

Increasing application of industrial gases in F&B industry driving market growth
Industrial gases have been an essential component of the food & beverages (F&B) industry for a long time. Nitrogen, carbon dioxide, and oxygen are examples of industrial gases used in the food & beverages industry. Industrial gases are also used as an additive within the food to enhance the taste and texture of the food. It is also to modify the atmosphere to help with food processing or preservation. It may also be used as a non-solvent sterilizing agent or as a propellant to dispense food or beverages from the vessel. In the food and beverage industry, carbon dioxide is the primary additive in carbonated drinks. Liquid nitrogen and carbon dioxide are used to freeze food products. Carbon monoxide is also used to preserve the color of beef, pork, and meat products. In some cases, sulfur dioxide is used as a winemaking preservative. This diverse set of industrial gases applications in the ever-expanding food and beverage industry is expected to fuel the global industrial gases market during the forecast period.

Risks associated with handling industrial gases are stifling market expansion.
Because of the many hazards associated with industrial gases, handling them necessitates extreme caution and precaution. One of the most common hazards associated with industrial gases is their toxicity. Carbon monoxide and sulfur-containing gases are some of the examples of toxic industrial gases. Another significant danger is the flammability of these gases. Industrial gases like hydrogen, acetylene often create an explosive mixture when mixed with air, which can have several implications. Asphyxiation, often known as “the silent killer”, is another health hazard related to the handling of industrial gases. Displacement of oxygen by industrial gases like pure nitrogen can cause an industry to collapse instantly due to Asphyxiation. It is possible that an individual will die if they continue to inhale nitrogen. Apart from these hazards, industrial gases are also associated with corrosive risks, material handling risks, and chemical risks, all of which are expected to stymie the global industrial gases market's growth over the forecast period.

Oxygen accounted for the largest share in the global industrial gases market in 2020
The oxygen segment held the largest market share in the global industrial gases market in 2020. Oxygen is used in various industries for various purposes. Fuel enhancers and the medical sector are the two most important applications of oxygen. In the healthcare industry, medical-grade oxygen is in high demand. Patients with respiratory conditions are treated in hospitals with oxygen cylinders. The need for medical-grade oxygen has recently skyrocketed due to increasing COVID-19 cases. Currently, India faces a severe shortage of medical-grade oxygen as plants are unable to meet the sudden surge in demand. Apart from medical applications, oxygen is used to boost the calorific value of fuel. For example, Oxy-fuel cutting is a process used for cutting metals with a very high melting point. Highly pure oxygen (99.5% purity) is often used with other fuel gases like acetylene or propane in the oxy-fuel cutting process, and it can cut metal up to 250mm thickness. These applications have supported the oxygen segment in gaining a significant market share in the global industrial gases market.

Enquire before purchasing the Report: https://www.blueweaveconsulting.com/global-industrial-gases-market-report/enquire-before-purchase

Global Industrial Gases Market: Regional insights
The global industrial gases market is divided into the Asia-Pacific (APAC), North America, Europe, Latin America, and the Middle East & Africa regions. Asia-Pacific (APAC) dominated the global industrial gases market in 2020 and accounted for the largest market share. The growth of end-user industries in growing economies like India, China, South Korea, and other Asian countries supported the development of the industrial gases market in the Asia-Pacific region. China is the world's largest producer of nitrogen, according to the Food and Agriculture Organization, with 44.97 million tonnes consumed annually. With 16.48 million tonnes of annual consumption, India is in the second position. Nitrogen is widely used as a food preservative and is also used in fertilizer production. . In addition to the aforementioned factors, the growth of the pharmaceuticals and medical sectors in the Asia-Pacific region has led to the region's wide market share in the global industrial gases market.

COVID-19 Impact on Global Industrial Gases Market
COVID-19 has had a negative effect on the vast majority of sectors. While some have started to recover, others are still trying to figure a way out. The demand for food and agriculture products skyrocketed with the initiation of the lockdown. With the second wave of COVID-19 sweeping across countries, the demand for medical-grade oxygen has gone up. The demand for medical-grade oxygen in India has increased eightfold, with current demand exceeding 8,000 metric tonnes per day. COVID-19 has wreaked havoc on supply chains as well, making it difficult to obtain medical-grade oxygen from other nations.

Due to COVID-19, the market for industrial gases used in food and drinks, such as nitrogen and carbon dioxide, has increased in tandem with the demand for oxygen. Other end-use industries, such as metallurgy, explosives, glass, and rubber, were impacted by COVID-19, resulting in lower demand for industrial gases. Since the government of many countries has lifted the lockdown restrictions, companies are now working to reinforce the supply chains. The demand for industrial gases from the medical and healthcare industries is expected to remain strong in the near future, as other industries recover from COVID-19's impact and gradually return to pre-COVID levels.

The Leading Players operating in the Market are The Linde Group, Air Liquide S.A., Praxair Inc., Taiyo Nippon Sanso Corporation, Matheson Tri-Gas Inc., Air Products and Chemicals, Inc., Iwatani Corporation, Messer Group GmbH, Gulf Cryo, Yingde Gas Group Co., Ltd., and others are the key players operating in global industrial gases market.
Key market players are entering into collaborations, partnerships, and engaging in mergers & acquisitions to capture a more significant market share. Furthermore, the market participants are focused on improving their product quality to attain a competitive edge over other players.

In April 2021, Vedanta Industries was given temporary permission by the Tamil Nadu government to reopen its copper plant in Thoothukudi in order to manufacture medical-grade oxygen. Owing to contamination problems at the plant's copper smelter, the plant was shut down. Vedanta has requested that the plant be reopened for the manufacture of medical-grade oxygen. The plant has a manufacturing capacity of 1050 MT medical grade oxygen per day, according to Vedanta, and it can function independently of the copper smelter unit.

In April 2021, French industrial gas giant, Air Liquide S.A., announced that it is sending most of its liquid oxygen output to the healthcare sector and is looking to import supplies from Asia-pacific.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of global industrial gases market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends, along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

Scope of the Report:

By Gas Type

  • Hydrogen
  • Oxygen
  • Nitrogen
  • Carbon Dioxide
  • Acetylene
  • Argon
  • Others

By Application

  • The healthcare
  • Manufacturing
  • Food & Beverages
  • Metallurgy & Glasses
  • Chemicals and Energy
  • Others

By Distribution & Transportation

  • On-Site
  • Liquid Gas Transport (Bulk Transport)
  • Cylinder (Merchant)

By Region

  • North America
  • Europe
  • Asia-Pacific (APAC)
  • Latin America (LATAM)
  • Middle-East & Africa (MEA)

Recently published similar reports:

Global Gas Detection Device Market, By Product Type (Fixed, Portable), By Gas Type (Oxygen, Combustible, Flammable, Toxic) By Technology (Single Gas Detection, Multi Gas Detection), By Application (Oil And Gas, Chemicals, Consumer Electronics, Mining, Water Treatment, Building Automation And Construction, Food And Beverages, Power Generation/Utilities), By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa), Market Trend Analysis, Competitive Analysis, Size And Forecast, 2015-2025

Global Industrial Gas Regulators Market by Type (Single Stage Regulator and Dual Stage Regulator), by Gas Type (Inert, Corrosive, and Toxic), by Material (Brass and Stainless Steel), by Application (Oil & Gas, Chemical, Steel & Metal Processing, Medical Care, and Food & Beverage), by Region (North America, Europe, Asia Pacific, Middle East & Africa and Latin America), Price Trend Analysis, Competitive Market Share and Forecast, 2015-2025

Argon Gas Market Size, By Application (Metal manufacturing & fabrication, Chemicals, Energy, Healthcare, Electronics, Food & Beverage, Others), By Type (Argon-carbon dioxide, Argon-oxygen, Argon-Helium, Argon-Hydrogen, Others), By Function (Insulation, Illumination, Cooling), By storage, distribution & transportation (Cylinder & packaged gas, Merchant liquid/bulk, Tonnage), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa); Trend Analysis, Competitive Market Share & Forecast, 2016-26

Rare Gas Market Size, By Type (Helium, Krypton, Argon, Neon, Xenon, Radioactive Radon) By Application (Picture Projection, Anesthetic, Welding, Insulation, Lighting, Television Tubes, Advertising, Refrigerant, Working Fluid, Chemical Analysis, Other), By End-User (Oil and Gas, Mining, Healthcare, Aerospace, Energy Efficient, Power, Other) and, By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa); Trend Analysis, Competitive Market Share & Forecast, 2016-26

3D Printing Gases Market Size, By Type (Argon, Nitrogen, and Gas mixtures), By Technology (Stereolithography, Laser Sintering, Poly-jet technology, and Others (electron beam melting, binder-jetting technology, and fused disposition modeling)), By Storage, Distribution, and Transportation (Cylinder & Packaged Distribution, Tonnage distribution, and Merchant liquid distribution), By Function (Insulation, Illumination, and Cooling), By End-use Industry (Design & Manufacturing, Healthcare, Consumer Products, and Others (automotive, aerospace & defense, and education & research)), and By Region (North America, Europe, Asia Pacific, Middle East & Africa and Latin America); Trend Analysis, Competitive Market Share & Forecast, 2016-26

India Oxygen Concentrator Market, By Product Type (Portable Oxygen Concentrator, Stationary Oxygen Concentrator); By Application (Acute Medical Conditions, Chronic Diseases, Severe Acute Respiratory Syndrome Coronavirus 2 (Sars-Cov-2)); By End-User (Hospital, Homecare, Clinic, Travel); By Region (North, South, East, West) Trend Analysis, Competitive Market Share & Forecast, 2017-2027

Australia Medical Oxygen Concentrator Market- By Product (Portable Oxygen Concentrator and Stationary Oxygen Concentrator); By Technology (Continuous Dose and Pulse Dose); By Application (Chronic Obstructive Pulmonary Disease, Asthma and Others); By End-User (Home care , Travel, Hospital and Clinic); By Region (New South Wales, Victoria, Queensland, Western Australia, South Australia, Australian Capital Territory, Tasmania and The Northern Territory); Trend Analysis, Competitive Market Share & Forecast, 2017-2027

About Us

BlueWeave Consulting provides all-inclusive Market Intelligence (MI) Solutions to businesses regarding various products and services online & offline. We offer comprehensive market research reports by analyzing both qualitative and quantitative data to boost up the performance of your business solution. BWC has built its reputation from the scratches by delivering quality inputs and nourishing long-lasting relationships with its clients. We are one of the promising digital MI solutions companies providing agile assistance to make your business endeavors successful.

 

Coordonnées