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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Mexico Industrial Gases Market Size
The Mexico industrial gases market size was around USD 716.31 million in 2023. The market is estimated to grow at a CAGR of 4% during 2024-2032 to reach a value of USD 986.65 million by 2032.
Key Takeaways
- Grupo Infra and Praxair México are the two major companies that control about 70% of the Mexican oxygen market.
- Mexico has 14 free trade agreements (FTAs) with nations including the USA, Canada, Japan, and Australia as well as the EU. This has promoted trade and aided the growth of the country’s manufacturing sector.
- Industrial gases play a pivotal role in the food processing sector. In 2021, bakery and tortilla production accounted for 25% of total food processing in Mexico, followed by meat and dairy processing.
Industrial gases, primarily nitrogen, oxygen, carbon dioxide, hydrogen, and argon are widely deployed in end-use sectors such as automotive, healthcare, food processing, steel manufacturing, and metal fabrication. Mexico’s manufacturing sector is expanding due to the availability of low-cost skilled labour, which further supports the Mexico industrial gases market growth.
Mexico is the world’s seventh-largest manufacturer of automobiles and produced about 4.0 million cars in 2023. Industrial gases are crucial for automotive manufacturing processes, such as brazing.
Industrial gases, like hydrogen, oxygen, nitrogen, and argon are widely used in the development of PV cells. Renewable energy as a whole is expanding in Mexico, but solar panel manufacturing is one of the largest and fastest-growing segments. Juarez is Mexico's and Latin America’s largest solar panel manufacturing location majorly driven by SunEdison Inc.’s investment in Juarez. The company manufactures over one million solar panels each year in the location.
As of July 2020, Mexico was home to over 60 solar parks with an installed capacity of 4.8 GW.
Mexico Industrial Gases Market Report Snapshots
Mexico Industrial Gases Market Size
Mexico Industrial Gases Market Trends
Mexico Industrial Gases Companies
*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.*
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Key Questions Answered in the Report
The market attained a value of USD 716.31 million in 2023.
The market is estimated to grow at a CAGR of 4.0% during 2024-2032.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach a value of USD 986.65 million by 2032.
The different types are nitrogen, oxygen, carbon dioxide, argon, hydrogen, and acetylene.
The supply modes include onsite, packaged, and bulk.
The applications include chemicals, manufacturing, metallurgy, food and beverages, healthcare, electronics, and others.
The growing demand from the food processing sector, an increase in steel manufacturing and metal fabrication applications, and Mexico’s move towards clean energy generation are some of the key factors driving the adoption of industrial gases.
The key players in the market include Air Liquide S.A, AOC MÉXICO, S.A. of C.V, Quimobásicos, S.A. de C.V., Linde plc, Infra, SA de CV, and Exel Air, among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124