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The Asia Pacific industrial gases market, valued at USD 32.45 billion in 2023, is projected to grow at a CAGR of 5.46% during 2024-2032, reaching USD 51.63 billion by 2032.
With increasing investments by governments and FII in electronics, packaging, and beverage manufacturing there is a rapid rise in the production of industrial gases across these sectors. Many industrial gases like oxygen act as a lifeline for industries which involve combustion. Recent advancements in technology and new industry openings across different sectors are boosting the Asia Pacific industrial gases market.
India and China ranked in the top 3 in terms of land area in the Asia-Pacific, with about 50-60% of this land being used for agricultural practices. Fertiliser is one such key element that plays an important role in this agricultural sector. Hydrogen gas acts as an active ingredient in the manufacturing of fertilisers, thus generating demand for industrial gases in the Asia Pacific.
Companies can now benefit from schemes like Make in India and the 2030 hydrogen mission in the Asia Pacific, allowing companies to use incentives for better production capability and price positioning in the market.
DEMAND OF NITROGEN IN ASIA PACIFIC FORECAST (STATED POLICIES SCENARIO) 2020-2050
Technological innovations and advancements, hydrogen as a green fuel, disinfecting agents, and medical applications are fueling the Asia Pacific industrial gases market.
April 2024
Nippon Sanso Holdings Group successfully demonstrated the production of hydrogen from ammonia for fuel cell vehicles (FCVs) meeting all the quality standards specified by ISO.
February 2024
Matheson's biotechnology team and leading research hospital jointly developed an efficient system for cell storage and handling, providing remote access to a cloud-based system for better monitoring and oversight.
January 2024
Air Products received the Community Care Award and Dual Carbon Contribution Award at the Philanthropy Festival and the 2023 ESG Summit in Beijing.
November 2023
Iwatani Corporation acquired Malaysian refrigerant companies Westech Chemicals and Iso Kimia to expand its presence across the South Asian refrigerant Market.
Technological innovations and advancements
With recent advancements in manufacturing processes, gases like helium, nitrogen and hydrogen are playing a pivotal role in complex processes like photolithography in the manufacturing of semiconductors.
Hydrogen as a green fuel
With an increasing focus on reducing carbon emissions, fuel cells are the most suitable alternative for power generation compared to traditional fossil fuels.
Disinfecting agent
Ozone, with its quick decomposing property and aggressive nature, allows it to act as a disinfecting agent for water, laundry, food, and air.
Medical Gases
With an increasing ageing population in developed countries and rising cases of Chronic obstructive pulmonary disease (COPD), there is a large demand for respiratory therapy which involves oxygen as its major component.
As Asia Pacific contains the 3 major fastest economies of the world, there is rapid growth in the number of industries in the manufacturing sector. With an increasing demand for superior processes across these manufacturing companies, there is a significant increase in the use of industrial gases.
Incentive schemes by Governments act as fillers for companies to increase their production capacity and reach net zero emission levels. In Asia Pacific, the industrial gas market is driven by advancements in manufacturing processes and sustainability.
Asia Pacific Industrial Gases Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
Market Breakup by Application
Market Breakup by Supply Mode
Market Breakup by Country
With recent advancements in manufacturing space, there is a need for specialized gases like argon, carbon dioxide, and nitrogen in industries like semiconductors, food beverages and others boosting the Asia Pacific industrial gases market growth.
Argon and carbon dioxide play an important role in welding applications, as they act as shielding agents due to their inert nature.
Oxygen plays a crucial role in steel manufacturing as it provides better combustion, increasing the efficiency of the overall process.
Nitrogen, due to its inert nature, is best suited for the deposition process for producing high-quality semiconductors. With the increase in demand for carbonated beverages, carbon dioxide finds its application in wine, beer, and soda beverages.
The Asia Pacific industrial gases market growth is propelled by the manufacturing sector, where these gases are crucial for maintaining precise conditions, improving safety, and optimizing production processes across diverse industries.
Industrial gases find their application in cryogenic cooling, purging, and welding applications across various industries.
Governments across countries are looking to further reduce emissions by introducing new regulations. With strict norms, companies have started to look for alternatives, and hydrogen, due to its abundance, is the best alternative available on the market. The rising demand for a sustainable future is attributable to the growth of the industrial gas market in Asia and the Pacific.
The Asia Pacific industrial gases market share is boosted by the advancements in technology and modernising of the traditional distribution channel.
Certain industries require on-time delivery of gases, so they prefer to have onsite production as any delay in delivery of gases can hamper the whole manufacturing process.
Manufacturing industries across different sectors don't have specialised gas production, and they require huge volumes of gases to perform certain production processes. All these factors are promoting the growth of the industrial gas market in Asia and the Pacific.
Market players are driving Asia Pacific industrial gases market growth by offering air-conditioning devices at competitive pricing and offering additional health benefits to their consumers.
Linde plc., founded in 1879, has its headquarters in the United Kingdom and serves customers with its industrial gases across healthcare, petroleum refining, manufacturing, food, beverage carbonation and water treatment industries.
Messer Asia Pacific, Inc., established in 1898, and headquartered in Bad Soden, Germany, supplies various industrial gases including oxygen, nitrogen, argon, carbon dioxide, hydrogen, helium, and shielding gases for industrial applications.
Matheson Tri-Gas was established in 1927 having its headquarters in the United States supplies industrial gases for various industries including medical, chemical, and electronic manufacturers.
Air Products and Chemicals, Inc., established in 1940, is headquartered in the United States. Offering a variety of industrial gas options from generalized gases to on-demand specialized gases
Other Asia Pacific industrial gases market key players are L’AIR LIQUIDE S.A, Iwatani Corporation, and Nippon Sanso Holding Corporation among others.
With rapid economic growth in this region, fuelled by the economic growth of companies like India, China, Japan, and ASEAN nations, there is rapid industrialization in this region, with many companies opening their manufacturing plants across the region. The industrial gas market is expanding at a rapid pace due to its application in these industries.
According to the IEA, Asia Pacific produces 1649.71 MT of carbon dioxide emissions through natural gas. As of 2021, high levels of carbon emissions contribute significantly to rising temperatures in this region. Hydrogen can reduce this emission by reducing the carbon footprint in this region.
Asia Pacific industrial gases market development is supported by strong government policies and investments with a vision to become net zero are creating a strong push for green hydrogen production in this region.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Type |
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Breakup by Application |
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Breakup by Supply Mode |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Global Industrial Gas Market Overview
8.1 Key Industry Highlights
8.2 Global Industrial Gas Historical Market (2018-2023)
8.3 Global Industrial Gas Market Forecast (2024-2032)
8.4 Global Industrial Gas Market Share by Region
8.4.1 North America
8.4.2 Europe
8.4.3 Asia Pacific
8.4.4 Latin America
8.4.5 Middle East and Africa
9 Asia Pacific Industrial Gas Market Overview
9.1 Key Industry Highlights
9.2 Asia Pacific Industrial Gas Historical Market (2018-2023)
9.3 Asia Pacific Industrial Gas Market Forecast (2024-2032)
10 Asia Pacific Industrial Gas Market by Type
10.1 Nitrogen
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Oxygen
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Carbon Dioxide
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Argon
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Hydrogen
10.5.1 Historical Trend (2018-2023)
10.5.2 Forecast Trend (2024-2032)
10.6 Others
11 Asia Pacific Industrial Gas Market by Application
11.1 Manufacturing
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Metallurgy
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Energy
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 Healthcare
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Chemicals
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Asia Pacific Industrial Gas Market by Supply Mode
12.1 Packaged
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Bulk
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 On-Site
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
13 Asia Pacific Industrial Gas Market by Country
13.1 China
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Japan
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 India
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 ASEAN
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Australia
13.5.1 Historical Trend (2018-2023)
13.5.2 Forecast Trend (2024-2032)
13.6 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators of Demand
14.4 Key Indicators of Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Linde plc.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 L’AIR LIQUIDE S.A.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Air Products and Chemicals, Inc.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Messer Asia Pacific, Inc.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Matheson Tri-Gas, Inc.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Iwatani Corporation
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 NIPPON SANSO HOLDINGS CORPORATION.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Industrial Gas Market: Key Industry Highlights, 2018 and 2032
2. Asia Pacific Industrial Gas Market: Key Industry Highlights, 2018 and 2032
3. Asia Pacific Industrial Gas Historical Market: Breakup by Type (USD Billion), 2018-2023
4. Asia Pacific Industrial Gas Market Forecast: Breakup by Type (USD Billion), 2024-2032
5. Asia Pacific Industrial Gas Historical Market: Breakup by Application (USD Billion), 2018-2023
6. Asia Pacific Industrial Gas Market Forecast: Breakup by Application (USD Billion), 2024-2032
7. Asia Pacific Industrial Gas Historical Market: Breakup by Supply Mode (USD Billion), 2018-2023
8. Asia Pacific Industrial Gas Market Forecast: Breakup by Supply Mode (USD Billion), 2024-2032
9. Asia Pacific Industrial Gas Historical Market: Breakup by Country (USD Billion), 2018-2023
10. Asia Pacific Industrial Gas Market Forecast: Breakup by Country (USD Billion), 2024-2032
11. Asia Pacific Industrial Gas Market Structure
The market was valued at USD 32.45 billion in 2023.
The market is projected to grow at a CAGR of 5.46% between 2024 and 2032.
The revenue generated from the industrial market in Asia Pacific is expected to reach USD 51.63 billion in 2032.
Technological innovations and advancements, hydrogen as a green fuel, disinfecting agents, and medical applications are key factors driving the industrial market growth.
The industrial gas market is categorized based on the supply mode into packaged, bulk, and on-site supply modes.
The key players in the Asia Pacific market are Linde plc., Messer Asia Pacific, Inc., Matheson Tri-Gas, Air Products and Chemicals, Inc., L’AIR LIQUIDE S.A, Iwatani Corporation, and Nippon Sanso Holding Corporation among others.
The market is broken down into China, Japan, India, ASEAN, and Australia, among others.
Based on the application in the industry the industrial gases found their application in manufacturing, metallurgy, energy, healthcare, chemicals, and others.
Based on the type, industrial gases are divided into nitrogen, oxygen, carbon dioxide, argon, hydrogen and others.
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