Industrial Gases Market by Type, Application, Distribution Channel

List of Tables

[189 Pages Report] The Industrial Gases Market size was estimated at USD 106.15 billion in 2023 and expected to reach USD 114.48 billion in 2024, at a CAGR 7.85% to reach USD 180.21 billion by 2030.

The industrial gases market comprises the sales, production, and distribution of gases, including oxygen, nitrogen, argon, helium, and various other gases for industrial use. These gases are used across a wide range of industries, including healthcare, chemicals, food and beverages, electronics, energy, and manufacturing, due to their essential properties in various processes such as oxidation, combustion, refrigeration, and preservation. Industrial gases hold significant roles across different sectors. In the healthcare industry, oxygen is vital for respiratory care, while nitrous oxide is commonly used as an anesthetic gas. The food and beverage industry employs carbon dioxide for carbonation and nitrogen to prevent oxidation in packaged foods. The manufacturing sector uses these gases for welding and cutting processes, metal fabrication, and enhancing product quality. Industrial gases are also pivotal in the production of electronics, where ultra-pure gasses are used for semiconductor manufacturing. The industrial gases market is growing due to rising demand for industrial gasses for energy conservation, increasing adoption in the mining and construction sector, and surging use in the aerospace and food and beverage sectors. However, the adoption of industrial gasses is hindered by associated adverse health impacts and stringent environmental regulations and policies for industrial gas emissions. On the other hand, ongoing research activities to develop new gas-related technologies and rapid technological advancements to improve production efficiency and enhance gas purity present potential opportunities for the industrial gases market in the coming years.

KEY MARKET STATISTICS
Base Year [2023]	USD 106.15 billion
Estimated Year [2024]	USD 114.48 billion
Forecast Year [2030]	USD 180.21 billion
CAGR (%)	7.85%

Type: Growing usage of hydrogen as a source of clean energy for transportation and power generation

Carbon dioxide is widely used in various industries such as beverage, food preservation, oil & gas, and as a refrigerant in cooling systems. Its capability to create an inert atmosphere makes it an essential gas for welding processes, while its freezing properties are utilized in cryogenic technology. Hydrogen is gaining traction as a source of clean energy, with applications in fuel cells for transportation and power generation. It is also used in ammonia production, petroleum refining, and as a reducing agent in metal processing. Nitrogen, due to its inertness, is commonly used for blanketing and purging in chemical processes and food packaging to preserve freshness. This gas is critical for its liquefied form in semiconductor manufacturing and as a coolant. Noble gases have specialized uses due to their chemical inertness. Argon is utilized in welding and lighting, helium in cryogenics and as a lifting gas, and xenon and neon in high-intensity lighting and electronics. Oxygen is essential in medical applications, steel manufacturing, water treatment, and the chemical industry. Its presence is necessary for combustion processes and supports life in healthcare settings.

Application: Growing potential of the industrial gases construction sector for steel manufacturing and fabrication

The aerospace industry relies heavily on industrial gases for various processes, including welding and cutting of metals, providing inert atmospheres for manufacturing, and fueling space vehicles. Specialized gases such as nitrogen, helium, and argon are extensively used for their unique properties, including non-reactivity and lightweight. Industrial gases in the construction sector are essential for steel manufacturing and fabrication, concrete curing, and glass production. Oxygen is typically used for combustion enhancement, while nitrogen finds its use in fire suppression systems. In the electronics industry, high-purity gases such as argon, nitrogen, and helium are vital for manufacturing semiconductors and display panels, as they help maintain controlled environments free from contaminants. Gases, including oxygen, hydrogen, and carbon dioxide, play critical roles in the energy and power sector, including applications in clean energy production, fossil fuel processing, and emission reduction. Medical gases such as nitrous oxide, oxygen, and air are essential for various applications, including respiratory care, anesthesia, and diagnostic testing. Across the manufacturing realm, industrial gases are used for metal processing, packaging, quality assurance, and enhancing production efficiency. Oxygen, nitrogen, and carbon dioxide are significant gases that are commonly used gases.

Regional Insights

In the United States, the industrial gases market is maturing, with high demand in the healthcare, oil and gas, and chemicals sectors. Consumer behavior tends to favor suppliers offering innovative solutions regarding gas delivery and sustainability. Recent investments have focused on the expansion of liquid gas production facilities and infrastructural developments in the hydrogen market, gearing towards a low-carbon economy. In Canada, the market is defined by its focus on the environmental applications of industrial gases, particularly in treatment processes for water and industrial effluents. In South America, the market is experiencing moderate growth, with countries such as Brazil and Argentina playing significant roles. Economic volatility and political instability have historically affected investment and growth in this region. Europe's industrial gases market is experiencing growth led by the emphasis on energy efficiency and reduced carbon emissions. The region's stringent environmental regulations are nurturing a demand for clean technologies, including industrial gases, in various applications such as waste-to-energy. Furthermore, the well-established healthcare system in Europe contributes to the constant demand for medical gases, which is further accelerated amid public health challenges. The Middle East market for industrial gases is growing due to the expansion of the healthcare, food processing, and metal fabrication sectors. Africa is an emerging market with growth potential, particularly in healthcare, mining, and metal processing industries. APAC is expected to be the fastest-growing market for industrial gases. The region's vast manufacturing base, led by countries such as China, India, Japan, and South Korea, drives a substantial demand for industrial gases. Rapid industrialization, investment in infrastructure, and policies supporting manufacturing are pivotal in this growth. Additionally, the expanding healthcare sector in these populous countries is propelling the demand for medical gases, thus contributing significantly to the market's expansion.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Industrial Gases Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Industrial Gases Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Industrial Gases Market, highlighting leading vendors and their innovative profiles. These include Air Liquide S.A., Air Water Inc., Asia Technical Gas Co. (Pte) Ltd., BASF SE, Bhuruka Gases Limited, Ellenbarrie Industrial Gases Ltd., Evonik Industries AG, Goyal MG Gases Pvt. Ltd., Gulf Cryo, INOX-Air Products Inc., International Industrial Gases Ltd., Iwatani Corporation, Linde PLC, Messer Group, Mitsubishi Chemical Group Corporation, MVS Engineering Pvt. Ltd., National Gases Ltd., Praxair Technology, Inc., PT Samator Indo Gas Tbk, Siad S.p.A., SOL Group, Southern Gas Limited, Strandmollen A/S, Taiyo Nippon Sanso Corporation, and Universal Industrial Gases, Inc..

Market Segmentation & Coverage

This research report categorizes the Industrial Gases Market to forecast the revenues and analyze trends in each of the following sub-markets:

Type
- Carbon Dioxide
- Hydrogen
- Nitrogen
  - Compressed Gas
  - Liquid Nitrogen

Noble Gas
- Argon
- Helium
- Krypton
- Neon
- Radon
- Xenon

Oxygen

Application
- Aerospace
- Construction
- Electronics
- Energy & Power
- Healthcare
- Manufacturing

Distribution Channel
- Bulk (Liquid Gas Transport)
- Cylinder (Merchant)
- On-site

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Industrial Gases Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Industrial Gases Market?

3. What are the technology trends and regulatory frameworks in the Industrial Gases Market?

4. What is the market share of the leading vendors in the Industrial Gases Market?

5. Which modes and strategic moves are suitable for entering the Industrial Gases Market?

Product Code: MRR-521BAA36EDA5

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Rising demand for industrial gases for energy conservation
  - 5.1.1.2. Surging use in aerospace and food & beverage sector
  - 5.1.1.3. Increasing environmental consciousness with the expanding scope for cleaner and greener gases
- 5.1.2. Restraints
  - 5.1.2.1. Fluctuations in the availability of raw materials associated with industrial gases
- 5.1.3. Opportunities
  - 5.1.3.1. Ongoing research activities to develop new gas-related technologies
  - 5.1.3.2. Emerging potential of hydrogen gas in the renewable sector
- 5.1.4. Challenges
  - 5.1.4.1. Stringent environmental regulations and policies for industrial gas emissions
5.2. Market Segmentation Analysis
- 5.2.1. Type: Growing usage of hydrogen as a source of clean energy for transportation and power generation
- 5.2.2. Application: Growing potential of the industrial gases construction sector for steel manufacturing and fabrication
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Industrial Gases Market, by Type

6.1. Introduction
6.2. Carbon Dioxide
6.3. Hydrogen
6.4. Nitrogen
6.5. Noble Gas
6.6. Oxygen

7. Industrial Gases Market, by Application

7.1. Introduction
7.2. Aerospace
7.3. Construction
7.4. Electronics
7.5. Energy & Power
7.6. Healthcare
7.7. Manufacturing

8. Industrial Gases Market, by Distribution Channel

8.1. Introduction
8.2. Bulk (Liquid Gas Transport)
8.3. Cylinder (Merchant)
8.4. On-site

9. Americas Industrial Gases Market

9.1. Introduction
9.2. Argentina
9.3. Brazil
9.4. Canada
9.5. Mexico
9.6. United States

10. Asia-Pacific Industrial Gases Market

10.1. Introduction
10.2. Australia
10.3. China
10.4. India
10.5. Indonesia
10.6. Japan
10.7. Malaysia
10.8. Philippines
10.9. Singapore
10.10. South Korea
10.11. Taiwan
10.12. Thailand
10.13. Vietnam

11. Europe, Middle East & Africa Industrial Gases Market

11.1. Introduction
11.2. Denmark
11.3. Egypt
11.4. Finland
11.5. France
11.6. Germany
11.7. Israel
11.8. Italy
11.9. Netherlands
11.10. Nigeria
11.11. Norway
11.12. Poland
11.13. Qatar
11.14. Russia
11.15. Saudi Arabia
11.16. South Africa
11.17. Spain
11.18. Sweden
11.19. Switzerland
11.20. Turkey
11.21. United Arab Emirates
11.22. United Kingdom

12. Competitive Landscape

12.1. Market Share Analysis, 2023
12.2. FPNV Positioning Matrix, 2023
12.3. Competitive Scenario Analysis
- 12.3.1. Meritus Gas Partners Announces Partnership with Dallas-Based Airco Gases Southwest
- 12.3.2. Air Products to Acquire, Own and Operate Industrial Gas Complex at Uzbekneftegaz's Advanced Gas-to-Liquids Facility in Uzbekistan for USD 1 Billion
- 12.3.3. INOX Air planes INR 3,000 crore investment by 2025 to meet rising demand
12.4. Strategy Analysis & Recommendation

13. Competitive Portfolio

13.1. Key Company Profiles
13.2. Key Product Portfolio