Industrial gases: Key market research findings
- APAC is the dominant region in the market
- The manufacturing segment accounts for the majority share of the market revenue
- Key vendors—Air Liquide, Air Products and Chemicals, Linde Group, Praxair, and Taiyo Nippon Sanso
Technavio’s market research analysts estimate the global industrial gases market to grow at a CAGR of over 8% between 2016 and 2020. The increase in the use of industrial gases in food and beverage applications is the primary driver for the growth of this market. Gases such as carbon dioxide, nitrogen, and ethylene are largely used for freezing, blanketing, and fumigation applications in the food and beverage industry. Furthermore, several gas compositions involving oxygen, hydrogen, nitrogen, ethylene and carbon dioxide find application in the controlled ripening of stored fruits and vegetables. At present, the APAC region dominates the global industrial gases market by accounting for a market share of more than 37%. The demand for industrial gases to produce large volumes of steel due to the rapid expansion of infrastructure is expected to boost growth in the market in this region during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the industrial gases segment based on end-user.
“Innovation in packaging across industries is an ongoing trend in the market. Companies such as Luxfer group and Time technolpast are implementing innovative gas packaging solutions while gas vendors are adopting composite cylinders in their distribution channel. A rise in innovation in cylinder packaging and pressure valves and an increased adoption by the major gas vendors is expected during the forecast period,” says Chandrakumar Badala Jaganathan, Lead Analyst, Chemicals & Materials, Technavio Research.
In 2015, the manufacturing segment dominated the worldwide industrial gases market by occupying over 25% of the market share. The manufacturing sector comprises of cutting, welding, glass manufacturing, and automotive and other applications. Favorable government subsidies to support the manufacturing sector are likely to contribute to growth in the manufacturing segment of the market in the coming years.
The key vendors in the global industrial gases market include Air Liquide, Air Products and Chemicals, Linde Group, Praxair, and Taiyo Nippon Sanso. The global industrial gases market is dominated by a few major players that hold nearly two-thirds of the market share. International vendors are trying to differentiate their products in terms of price, features, integration, service, and support to gain a competitive edge over regional vendors. Most well-established vendors have huge customer bases across many large manufacturing industries.
A more detailed analysis is available in the Technavio report, Global Industrial Gases Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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