(EMAILWIRE.COM, December 06, 2024 ) The report “Industrial Gases Market by Type (Oxygen, Nitrogen, Hydrogen, Carbon Dioxide, Acetylene, Inert Gases), End-use Industry (Chemicals, Electronics, Food & Beverages, Healthcare, Manufacturing, Metallurgy, and Refining), and Region – Global Forecast to 2028. The Industrial Gases market size is projected to grow from USD 105.6 billion in 2023 to USD 137.9 billion by 2028 at a CAGR of 5.5%.
Browse in-depth TOC on “Industrial Gases Market
158- Market Data Tables
49 – Figures
212 – Pages
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Based on the Type, Oxygen segment holds largest market share in industrial gases market. Oxygen stands as the predominant gas in the industrial gases market, playing a pivotal role in both the chemical and electronics industries. In the chemical sector, oxygen is widely utilized in various processes such as combustion, oxidation, and chemical synthesis. It serves as a crucial component in the production of chemicals like ethylene, methanol, and ammonia. Additionally, oxygen enhances combustion efficiency in industrial furnaces, facilitating processes such as petrochemical refining.
In the electronics industry, oxygen is a key participant in the fabrication of semiconductors and integrated circuits. It is an essential component in the production of silicon wafers, acting as a reactant in the chemical vapor deposition (CVD) process and aiding in the creation of high-purity silicon dioxide layers. The controlled use of oxygen in these industries underscores its significance not only as a life-supporting element but also as a critical facilitator of intricate manufacturing processes integral to chemical and electronics production.
Based on end-use industry, the manufacturing holds largest market share in industrial gases market. Industrial gases such as nitrogen, oxygen, and argon are instrumental in welding, metal cutting, and heat treatment, contributing to the fabrication of various materials. Moreover, these gases play a pivotal role in enhancing combustion efficiency in furnaces and supporting chemical reactions critical for the production of chemicals and materials. As manufacturing activities continue to evolve and expand globally, the demand for industrial gases remains robust, solidifying the manufacturing sector’s dominance in the industrial gases market.
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Based on region, Asia Pacific is the largest market of industrial gases. The Asia Pacific region has emerged as the largest market for industrial gases due to a confluence of factors, including rapid industrialization, thriving manufacturing sectors, and increase in demand for gases across diverse industries. With countries like China and India experiencing significant economic growth, there is an increasing need for industrial gases in sectors such as steel, chemicals, electronics, and healthcare. The region’s dynamic industrial landscape, coupled with a growing emphasis on technological advancements and environmental sustainability, has fueled the demand for industrial gases, positioning the Asia Pacific as a key hub for the production and consumption of these essential gases.
Industrial Gases Market Key Players
Major players operating in the include Air Liquide (France), Linde plc (England), Air Products & Chemicals, Inc. (US), Messer SE & Co. KGaA (Germany), and Nippon Sanso Holdings Corp. (Japan) and others. These companies have reliable manufacturing facilities as well as strong distribution networks across key regions, such as North America, Europe, and Asia Pacific. They have an established portfolio of a robust market presence, reputable offerings, and strong business strategies. Furthermore, these companies have a significant market share, products with wider applications, a broader geographical presence, and a larger product footprint.
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