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Industrial gases market is tremendously growing and is estimated to reach USD 106.36 billion by 2021

Industrial gases market is tremendously growing and is estimated to reach USD 106.36 billion by 2021

Following the rapid economic growth in Asia during the last decade, demand for Industrial Gases has risen sharply and the market is anticipated to reach $106.36 billion by 2021.

According to the market research report “Industrial Gases Market: By Types (Oxygen, Nitrogen, Hydrogen, Helium, Others) End Users (Medical & Pharmaceuticals, Energy, Food & Beverage Industry, Chemicals and Petrochemical, Oil & Gas, Metallurgy & Metal Working Industry, Mining, Transportation, Others) & Geography -Forecast (2017-2021)published by IndustryARC, estimates the market to reach $106.36 billion by 2021.

Browse 13 Market Tables, 240 Figures spread through 157 slides and an in-depth TOC on “Global Industrial Gases Market (2017 – 2021)” – http://industryarc.com/Report/15513/industrial-gas-market.html

The industrial gases market is exhibiting strong growth because of improving economies, growing energy demand, climate control activities, healthcare needs, and many more in developing and developed regions. The growing need for alternate energy sources will be met by large-scale gasification plants and gas-to-liquids, coal-to-liquids and coal-to-chemicals plants, which will require enormous quantities of oxygen.Industrial gases have been extensively used in various applications over the past few years across the globe. Amongst the various applications served by industrial gases, it find its use majorly in food & beverage. Industrial gases in food processing is majorly used in modified atmospheric packaging (MAP) which is a preservation technology for food such as fish, meat, vegetable and fruits. In MAP breathable atmosphere is replaced by pure gases or nitrogen to extend the shelf life. Moreover, Nitrogen and carbon dioxide are primarily used industrial gases used for chilling, freezing, grinding and packing a variety of products including bakery & dairy products, beverages, fish & sea foods, fruits & vegetables and many more.

Based on types of industrial gases available commercially, the industrial gases market is segmented into oxygen, nitrogen, argon, hydrogen, helium and more. Nitrogen is used for cooling various mechanical equipment that needs to be kept extremely cold and for snap-freezing foods such as chicken, hamburger patties and fruit to be eaten out of season. Inert blankets of nitrogen are used over reactive liquids in tankers, in varnish manufacture and also inside potato chip packets. The key segmentations for industrial gases market include type, end-user and by geography.

Escalating food & beverage industry coupled with rapidly expanding market of chemicals & petrochemicals in emerging countries is anticipated to propel the demand for Industrial Gases

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The global industrial gases market is estimated to grow with a CAGR of 4.2% during the forecast period and will reach $106.36 billion by 2021. As the industrial companies striving to compete on a global scale, they require to modernize their industrial production facilities. Hydrogen can be used as a fuel in automotive and power plants. Also, Hydrogen can be considered as a potential replacement to the fossil fuels. Furthermore, Hydrogen based fuels are now a days widely used in aviation applications. Moreover, the Industrial gases market for nitrogen in Industrial Gas market is set to see an upsurge due to the growing application in the frozen food industry. Escalating demand for food & beverage is propelling the growth of industrial gases in various geographies.

The market of industrial gases has been segmented into Americas, Asia-Pacific, Europe and Rest of the World (RoW) on basis of geography. In 2016, Americas is the prominent region for industrial gases market and is estimated to grow with CAGR of 4.3% during the forecast period. The growth in America is attributed to the increasing mining and food & beverage activities. However, considerable industrial gases demand in APAC along with American countries is likely to boost the overall market.

The Prominent Players in this Market Include

  • Praxair Inc.

  • Air Liquide

  • Linde group

  • Air Products

Industrial gases companies through its broad range of products, product expansion and innovation have been successful in catering to a variety of customers, consequently maintaining their hold over the industrial gases market. Air Liquide is one of the major players in the industrial gas market with wide range of product offerings dealing in various industries. Its recent acquisition of Airgas has enabled it to expand in the U.S, which is the largest market for industrial gases.Apart from the above mentioned key players, Praxair Inc. , Linde group and Air Liquide and some of the major players of industrial gases market. With various product launches, mergers, acquisitions, collaborations and other strategies, these companies are obtaining industrial gases market shares in the industry.

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