Global Industrial Gases Market Report and Forecast 2024-2032

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The global industrial gases market is being driven by the development of packaging technologies such as rapid surface chilling and others. For instance, rapid surface chilling technology demands cryogenically cooled liquid nitrogen to preserve meat; thus, it is driving the demand for industrial gases in the food and beverage sector. The nitrogen segment, among other gas-types, dominates the industry owing to its increased demand for applications like lasing gas combination, petrochemicals for instrumentation, calibration gases and controlled, and modified atmospheric packaging solutions, among others. 

Currently, the manufacturing segment, among various applications, leads the global industrial gases industry. Further, the packaged segment dominates the industry owing to its versatility, flexibility, and mobility. Also, packaged industrial gases are extensively used by manufacturers due to its availability in various sizes ranging from small portable packages to large cylinders. 

The Asia Pacific is the leading regional market, accounting for a significant industry share. The market in the region is supported by the increasing investment in the medical and healthcare sector and the thriving food and beverage industry coupled with the presence of a large population. Within the Asia Pacific, the developing countries like China and India are striving to increase their production capacity in a variety of industries such as metals, oil and gas, construction, and healthcare which induce high demand for industrial gases, and, thus, such regions are expected to provide enhanced growth opportunities to the industry.

Market Segmentation

Industrial gases refer to gases that are produced in large quantities for use in several production and industrial processes. They are known for their reactivity, inertness, and other physical characteristics. 

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The industrial gases market segmentation, based on type, is as follows:

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

Industrial gases like oxygen are used in advanced healthcare facilities for anaesthetic techniques as they provide a base for life support for artificially ventilated patients. Further, hydrogen is widely utilised in the transportation industry, while oxygen finds applications in gasification plants, hospitals, and steel manufacturing plants.

On the basis of application, the industry is segmented into:

• Manufacturing
• Metallurgy
• Energy
• Chemicals
• Healthcare
• Others

On the basis of supply mode, the industry is divided into:

• Packaged
• Bulk
• On-site

The report also covers the regional industrial gases markets like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Market Analysis

The global industrial gases market is being driven by the growing use of industrial gases in multiple manufacturing processes. The demand for industrial gases in various sectors, including food and beverage, healthcare, energy, electronics, and oil and gas, among others, is supporting the industry growth. The development of packaging technologies such as rapid surface chilling technology will boost the demand for such gases for processing, packaging, and preservation applications. 

With the growing expenditure in research and development activities and rapid advancement in technology, the handling of industrial gases is expected to become much simpler, which will substantially aid the industry growth. The growing product demand from the Asia Pacific owing to the developing healthcare industry and growing food and beverage sector in the region is expected to create new opportunities for the industry growth over the forecast period.

Competitive Landscape

The report gives a detailed analysis of the following key players in the global industrial gases market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Air Liquide 
• Linde AG
• Praxair Technology, Inc. 
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report