Global Industrial Gases Market: Regulatory Compliances and Safety Demands Creating Valuable Opportunities

Global Industrial Gases Market

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:

  • Demand for metal manufacturing & fabrication: The demand for industrial gases is experiencing high demands from the metal industry, whether it is for manufacturing or fabrication. The wide-range of uses of industrial gases is one of the few factors behind its substantial growth rate. This applicability and adoptability of these gaseous compounds is expected to witness massive growth surge due to the growth in uses of metal compounds. Metal is utilized in the production of major industrial products and goods with its
  • Increasing investment in the automobile and aerospace sector: The large-scale expansion of the automotive sector with a surge of production processing in these industries. This growth trend that the industry is witnessing is expected to have a subsequently positive impact on the industrial gases demand, because of their wide range of applications in a number of manufacturing process relating to automobile. Although the demand for industrial gases is not just limited to the automobile market and another associated industry that is undergoing healthy demand is aerospace industry, with a number of countries and government authorities want to establish their presence in outer space or on different extra-terrestrial bodies. This ambition requires manufacturing of aircrafts and equipments that are designed to withstand and operate successfully in testing environmental conditions. This production process is fulfilled with the addition of industrial gases.

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:

  • In May 2018, Air Products and Chemicals, Inc. announced that they had inaugurated their new industrial gas complex located in Kochi, India. The complex was built on the “Integrated Refinery Expansion Project (IREP) of the BPCL Kochi Refinery” to help expand the refining capacity of the company. This investment is one of the many that the company has taken part in for the enhancement of their refining capacity which will be complemented by the high volume of industrial gases produced at the facility
  • In April 2018, ENGIE and Air Products and Chemicals, Inc. announced that they had agreed to a partnership which will deal in providing Air Products and Chemicals, Inc. access to various certifications relating to its assets situated in France as well as associating these certifications with their customers. This will be achieved with the help of blockchain technology and is an innovative new technological trend in enhancement of relationship between customer-supplier

 “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.