Global Industrial Gas Market Insights, Opportunity, Analysis, Market Shares And Forecast 2017 – 2023

Industrial gases are defined as the gaseous material specifically manufactured for the use in the industrial applications such as in petroleum industry and healthcare industry. Industrial gases market is derived by the increasing demand of specialty chemicals to carter the need of the rising industry applications. Rapid industrialization is the major factor augmenting the growth of the industry gases market. Global industrial gases market is expected to have a CAGR of 6.2% during the forecast period 2016-2023. The major factors that are augmenting the growth of the market are rising demand of the industrial gases in the healthcare specifically medical grade gases like nitrogen, nitrous oxide, helium, increasing application of liquefied gas like LNG (liquid nitrogen gases), increasing usage of industrial gases in vehicles for example hydrogen gas etc.

Rising application of the industrial gases is one of the major factors that are responsible for the growth of the market. One of the primary applications of industrial gases is in petroleum industry. Increasing demand of hydrogen in the petroleum, and use of ethanol and biodiesel as an alternate fuel plays a vital role in the growth of the industrial gases market. Increasing concern towards environment and rapidly depleting fossil fuel resources are deriving the demand of industrial gases as an alternate fuel. Government initiatives and increasing global warming also plays major role in augmenting the demand of industrial gases like ethanol and hydrogen in the vehicles as a fuel. Other applications of industrial gases like usage of medical grade gases in healthcare are also one of the major factor that are augmenting the growth of the market.

However, there are certain factors that are holding back the growth of the market. High cost of transportation and high cost of storage of the industrial gases are the major challenges that are holding back the growth of the market. Also the major restraint in the growth of the market is increasing environmental regulations.

Global industrial gases market is segmented on the basis of the product and end-user application

On the basis of product the global industrial gases market is segmented into:

• Hydrogen
• Oxygen
• Nitrogen
• Carbon di oxide
• Helium
• Argon
• Acetylene

On the basis of end-user application, the global industrial gases market is segmented into:

• Metal manufacturing and fabrication
• Chemicals and refining-related processing
• Food
• Electronics
• Medical
• Pulp and paper
• Others

The revenue for the above end-user segments are specific to the global industrial segment market. However, the total revenue of these end-user segment in general has been excluded from the scope of the report. Geographically, the global industrial gas market is segmented into:

• North America (U.S. & Canada)
• Asia Pacific (China, India, Japan, RoAPAC)
• Europe (UK, France, Germany, RoE)
• Rest of World

Asia Pacific is the market leader in the global industrial gas market. In the year 2015, Asia Pacific market held the major share of about 39% in the global industrial gases market. The major reason backing the growth of the market in Asia Pacific region is the increasing petroleum refineries. China is the market leader in the region, but India is considered to have the highest growth rate during the forecast period 2016-2023. Increasing demand of industrial gas from developing countries such as China and India and increase in the disposable income of the people in the region is the major factor augmenting the growth in the market. Latin America and North America are considered as the highest growing region in the global industrial gases market due to growing end-user application of industrial gas.

Global industrial gases market by application is further divided into petroleum, chemical, food processing, healthcare, metal processing, electronics and others.  Healthcare is considered as one of the major sector in industrial gases end-user applications. In the year 2015, about 70% of the hospital admission in US   requires oxygen therapy and supplementary oxygen at some level. On the basis of product hydrogen gas is majorly used in vehicles as a fuel whereas carbon dioxide is majorly used in soft drinks and beers. Carbon dioxide is also used in electronics like refrigerators. On the basis of the delivery mode Cylinder delivery has been used to eliminate the need of gas generation on site like LPG gas cylinders. On site generation is used by large gas production plants like oil refineries, steel works etc.

The major market players of the global industrial gas market are:

• AIRGAS INC.
• AIR LIQUID S.A
• AIR PRODUCTS AND CHEMICALS INC.
• AMERICAN AIR LIQUIDE HOLDINGS INC.
• BASF
• OTHERS

Detailed analysis of these companies provided in this report comprises of overview, SCOT analysis, product portfolio, strategic initiative and strategic analysis.

These companies using various strategies such as merger & acquisition, collaboration, partnership and product launching. For example: The Linde-Praxair merged in December 2016. Both the companies agreed to merge to create the world’s largest supplier of industrial gases.