Industrial gases are manufactured materials that are formulated in gaseous nature for a variety of industrial uses. The majority of these gases include nitrogen, oxygen, argon, hydrogen and carbon dioxide; although a wide variety of other gases are also manufactured and used. These gases are manufactured and commercialized in cylinders. Generally utilized as an individual compound, recently certain mixtures of these gases are also being commercialized due to various innovations and expansion of applications of these gases.
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The main factor behind the growth of the market is:
The market is segmented on the basis of type as nitrogen, oxygen, argon, hydrogen, carbon dioxide, others; mode of distribution is segmented into bulk, tonnage, packaged; application is categorized into metal production, automotive, chemical & petrochemical, healthcare & pharmaceuticals, food & beverages, metal fabrication, others.
Some of the recent market developments are as follows:
“According to Data Bridge Market Research, global industrial gases market is expected to reach USD 128.52 billion by 2025, growing at a substantial CAGR during the forecast period of 2018 to 2025”
Some of the major players operating in the market are Air Liquide S.A., Air Gass and Chemicals Inc., The Linde Group, Praxair Inc., Ellenbarrie Industrial Gases Ltd., India Glycols Ltd., The Southern Gas Ltd., Bhuruka Gases Ltd., Tripti Gases Pvt. Limited, SICGIL India Limited, Matheson Tri-Gas, Inc., Messer Group GmbH, Southern Industrial Gas Sdn Bhd, Abdullah Hashim Industrial Gases & Equipment Co. Ltd, Bristol Gases, Concorde Corodex Group, Buzwair Industrial Gases Factory, Dubai Industrial Gases, Gulf Cryo, Mohsin Haider Darwish LLC, National Industrial Gas Plants, Mohammed Hamad Al Mana Group and Yateem Oxygen among others.
One of the major concerns in any industry is for the safety of its personnel. This concern is translated into a number of authorities bringing out various regulations and compliances for these industries to follow, which have forced various industries and manufacturers to incorporate certain safety demands for their workers and facilities. And one of the few safety requirements of these regulations is to utilize more stable industrial gases in a safe and appropriate way.
Global Industrial Gases Market – Industry Trends and Forecast to 2025