PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1461984
PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1461984
The industrial gases market stands at the cusp of a significant expansion, spurred by burgeoning infrastructure projects and a surge in investments across the Asia Pacific region. A comprehensive report by Fairfield Market Research, entitled "Industrial Gases Market - Global Industry Analysis, Market Size, Trends, Applications, and Forecast, 2024 - 2031," projects this market's growth trajectory, emphasizing the pivotal roles of China and India. These countries are identified as key growth markets, thanks to their anticipated boom in construction activities and mega infrastructure projects that are expected to drive demand for industrial gases.
Oxygen: A Market Catalyst
At the heart of the industrial gases market is oxygen, the most sought-after gas, playing a critical role in various industries. Its applications are most pronounced in steel manufacturing and the healthcare sector. In the former, oxygen is used to enhance furnace performance, significantly impacting the efficiency and output of steel production. Meanwhile, in healthcare, oxygen is indispensable across various treatment stages and in medical devices, catering to a broad spectrum of medical needs.
F&B Industry: A New Frontier for Industrial Gases
The Fairfield Market Research analysis identifies the Food and Beverage (F&B) industry as an emerging market for industrial gas manufacturers. The F&B sector's requirements for modified environments during packaging and transportation of products sourced from distant locations are driving the demand for industrial gases. Notably, the growing popularity of carbonated beverages is highlighted as a major contributor to the market's growth, underlining the dynamic nature of consumer preferences and their impact on industrial gas demand.
Market Segmentation: An In-depth Analysis
Competitive Landscape: Consolidation and Strategic Expansion
The report characterizes the global industrial gases market as highly consolidated, with a limited number of major players. Tier-1 players hold a dominant share, accounting for roughly half of the market. These key players are constantly looking to enhance their manufacturing capabilities by expanding existing facilities. Additionally, securing strategic agreements and contracts with end-use industries for a steady supply of industrial gases is a major focus area for market leaders. The report cites the long-term contract signed by Air Liquide with Oman Oil Refineries and Petroleum Industries Company (Orpic) in April 2017 for supplying nitrogen to the Liwa Plastics Industries Complex (LPIC) as an example of such strategic expansion.
By Gas Type
By Application
By Region