Industrial Gases Industry Report by Regional Category Spend, Price Analysis, Key Demand, Price Indicators, and Best Buying Practices

The global Industrial Gases market reached a value of about USD 85 billion in 2021. The industry is projected to grow at a CAGR of around 4% in the forecast period of 2022-2027 to reach a value of about USD 107.55 billion by 2027.

The global Industrial Gases industry report gives a comprehensive analysis of the industry, including key segments, trends, drivers, restraints, the competitive landscape, and other essential market aspects. The application of the gases in various industries is primarily driving the market. The United States is the highest category spender by region, driving the demand for the Industrial Gases industry.

Industry Definition and Segmentation

The gaseous composites produced for usage in the industry are identified as industrial gases. Nitrogen, oxygen, carbon dioxide, argon, hydrogen, helium, and acetylene are the most common gases accessible in gas cylinders, although many additional gases and mixes are also available. Elements, molecular compounds, and combinations make up industrial gases. The Industrial Gases industry report comprises segments by application (chemical and petrochemical, automobile, metal production and fabrication, healthcare and pharmaceuticals, food and beverages, and others) and region (Canada, the U.S., Brazil, South Africa, and Australia).

The United States is Driving the Growth of the Industry

The United States is the leading region in the industry owing to the region's expanding healthcare and electronic industries. Furthermore, market growth is expected to be fueled by extending the region's industrial sector.

The industry is being propelled by the extensive application of gases in many industries, including healthcare, food, and beverage. In the electronics sector, industrial gases, like nitrogen trifluoride, sulphur hexafluoride, silane, etc., are used to make flat panel displays, compound semiconductors, and sophisticated components like silicon wafers and integrated circuits propelling the industry. There is an ever-increasing need in the aerospace, metals, and mining sectors, where various industrial gases are employed on a massive scale. Hydrogen is utilised in transportation, whereas oxygen is used in gasification plants, hospitals, and steel mills. Liquid helium is also used to cool superconductive magnet coil scanners in magnetic resonance imaging (MRI) equipment, giving the industry a significant thrust. In the food and beverage business, industrial gases are employed for various purposes. Industrial gases are used in the food business for multiple purposes, including modified atmospheric packing (MAP), chilling and freezing, and managing product temperature during transit and storage, furthering the market's expansion.

Best Procurement Practices

The global Industrial Gases industry report by Procurement Resource gives an in-depth analysis of the best buying practices followed by major global Industrial Gases regions, such as engagement models, contract terms, and buyer and supplier negotiation levers, among others.

Category Management Studies

Air separation facilities purify air through a separation process, allowing for bulk production of nitrogen and argon, and oxygen – all three of which are frequently generated as cryogenic liquids. Natural gas, hydrogen, and helium may be liquefied using cryogenic technology. Cryogenic methods remove nitrogen from natural gas in a Nitrogen Rejection Unit in natural-gas processing. Reforming is the industry's other primary manufacturing technology. Steam reforming is a chemical process that converts natural gas and steam into syngas containing hydrogen, carbon monoxide, and carbon dioxide. The industrial gases industry's cornerstone technologies are air separation and hydrogen reforming, which are also necessary for fuel gasification (including IGCC), cogeneration, and Fischer-Tropsch gas to liquids schemes.

Growing Initiatives in the Sector, Further Augmenting the Procurement of Industrial Gases

The industry is being aided by the rising industrialisation and urbanisation, which further the use of the gases driving the market growth. The prominent corporations are spending on research and development (R&D) to create new and improved techniques for producing and distributing industrial gases worldwide. Moreover, various non-profit organisations provide firms with technical guidance on industrial gas production, transportation, storage, and consumption. They also encourage uniformity in the industrial gas business regarding safety, health, environmental, and technological requirements, which is likely to impact the market positively.

Despite this, the strict rules and regulations governing the manufacture, storage, and distribution of industrial gases paired with the high expense of storing industrial gases are likely to hamper the industry's expansion.

The regional markets for the industry can be divided into Canada, the U.S., Brazil, South Africa, and Australia.

Key Industry Players Mentioned in the Industrial Gases Industry Report

• Linde Plc
• Air Liquide
• Air Products
• Messer Group
• Nippon Sanso Holding

Market Landscape

The presence of numerous well-established players that control the majority of shares in various sectors of the industrial gas value chain and have multiple channels for manufacturing and distribution of their finished products globally is responsible for the competitive nature of the global market. Price, brand image, quality, technology, and distribution network are all competing considerations among industry competitors. To attain economies of scale, local businesses sell to multinational corporations in addition to their domestic sales. Due to many players on the market, fierce competition has developed. The only tactics organisations can use to remain in this highly competitive global market are new and multifunctional product creation, excellent quality, and fair pricing.

Key Initiatives by Companies

• Air Products Inc. opened a new cryogenic nitrogen factory in Bayan Lepas, Malaysia, in February 2021, which might help the firm grow even more.
• Linde PLC declared in December 2020 that it would form an equal-share joint venture with Sahara International Petrochemical Company (Sipchem) to create production and delivery systems in Saudi Arabia to address the rising demand for industrial gases.