Southeast Asia Liquid Gases Market, By Type (Liquid Nitrogen, Liquid Oxygen, Liquid Argon) - Industry Trends and Forecast to 2030.
Southeast Asia Liquid Gases Market Analysis and Size
Southeast Asia liquid gases market is expected to grow significantly in the forecast period of 2023 to 2030. Data Bridge Market Research analyses that the market is growing with a CAGR of 7.1% in the forecast period of 2023 to 2030 and is expected to reach USD 5,042,237.33 thousand by 2030. The major factor driving the growth of the liquid gases market is the rising demand of fresh packaged products between the consumers, and growing awareness regarding the properties of the liquid gases products.
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2020 - 2015)
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Quantitative Units
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Revenue in USD Thousand
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Segments Covered
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By Type (Liquid Nitrogen, Liquid Oxygen, Liquid Argon).
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Countries Covered
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Cambodia, Myanmar, Malaysia, Thailand, Vietnam, Indonesia, Philippines, Singapore
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Market Players Covered
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Air Liquide, Bangkok Industrial Gas Co., Ltd., AMCS Corporation, Linde PLC, Air Products and Chemicals, Inc., MESSER, Asia Industrial Gases Pte. Ltd., NIPPON SHOKUBAI CO., LTD., SASOL, SABIC.
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Market Definition
Liquid gases are gases that have been turned into liquid by cooling or compressing it. It is done usually for storage and transport purposes. Liquid gases are widely used in various industries, which include food and beverages, aerospace and defense industry, chemical industry, welding and cutting, and medical. The driving factor for the growth of the Market is rise in demand for liquid gases in the food packaging industry.
Southeast Asia Liquid Gases Market Dynamics
Drivers
- Growth in the food packaging industry
Rising consumer demand for packaged products due to shifting eating habits and evolving lifestyles and a rise in per capita disposable income, and growing population aid in the product demand owing to high barrier properties, shelf life, and consumer safety has led to the growth in the food packaging industry. The surge in demand for packaged food is due to various reasons such as barrier and contamination protection, promoting sustainable packaging, and reducing safety issues by preventing food-borne diseases, and preserving food quality.
- Growing use of respiratory treatment in the medical sector
Oxygen is vital for respiration, transferring energy from glucose to cells. Every cell in our body requires oxygen. Oxygen is crucial for treating severe respiratory issues as it hampers oxygen supply to various body parts. Then oxygen therapy came into role play which is supplied through medical oxygen. Oxygen therapy is a treatment that delivers extra oxygen to the lungs when the level of oxygen in the blood is too low. Many diseases, especially lung diseases, decrease the amount of oxygen in the bloodstream. In such cases, people may benefit from being given extra oxygen. In a Liquid oxygen system, oxygen is stored as a very cold liquid. In liquid form, much more oxygen can be stored as a liquid than as a gas, so a given size of container can hold much more liquid oxygen. As the liquid oxygen is released, it turns into a gas, and the person can breathe it in. Hyperbaric oxygen therapy (HBOT) uses a special pressurized chamber to deliver 100%pure oxygen to your lungs. Increased air pressure inside the chamber helps your lungs absorb more oxygen. This extra oxygen can aid in healing the infections
- Improvement in the aerospace and defense sector
The aerospace and defence sector is rapidly adopting newer technologies to address the challenges of shrinking budgets, rising operational cost, infrastructure management, MRO (Maintenance, Repair and Overhaul) and a complex global supply chain.
Aerospace industry encompasses research and development, design and manufacturing that makes flight and space exploration possible. A continuous focus on safety is crucial for the aerospace industry. These include using inert gases such as Nitrogen and argon to create safe atmospheres for maintenance operations, extend life, and improve the performance of aircraft parts. High performance gas analyzers help aerospace manufacturers, airlines, and the military monitor and control the quality of their gases by continuously monitoring for trace oxygen in the inert gases
Opportunities
- Rising spending on cryotherapy in the biomedical sector
Cryotherapy is a treatment where your healthcare provider applies extreme cold to freeze and destroy abnormal tissue. Liquid Nitrogen is used to create this severe cold. Cryotherapy is used to treat a variety of skin conditions and cancers, including prostate and liver cancer. This treatment is also known as cryoablation. Cryotherapy uses cryogen, typically liquid Nitrogen, to cool the targeted tissue to subzero temperatures. This effect induces tissue damage in two mechanisms. The first mechanism is the induction of tissue ischemia by damaging blood vessels and capillaries within the target area, leading to ischemic tissue necrosis. The second mechanism involves damaging the cells more complexly by forming ice crystals and inducing osmotic cell injury and cellular membrane disruption. As it is a non-invasive technique, cryotheraphy can produce the best outcomes.
Restraint/Challenges
- Extensive expenditure is required for the operation and maintenance of liquid gases
Liquid gases are manufactured to fulfill the requirement of various sectors such as chemicals, food & vegetables, dairy, aerospace, gas industries, medical sectors, and others. Most liquid gases are used in insulation, illumination, cooling, and refrigerant, among others. Liquid gases such as nitrogen, oxygen, and argon are intended for application in a wide range. However, despite a wide preference and applications of liquid gases, few significant issues associated with security is present in liquid gases. To handle these issues, some extra measures are also present which must be taken while using liquid gases. These additional measures can restrain the growth of liquid gases in the Southeast Asia region's market because precautionary measures demand extensive expenditure.
- Logistic issues associated with product movement from manufacturers to buyers
Most of the market is in a supply chain crisis caused by the epidemic. Every market is facing significant struggles in logistics associated with product movement. Southeast Asia liquid gases market is no exception. The epidemic has caused an issue associated with global shipping. There is demand outstripping the supply. Thus sea freight prices are at an all-time high, and container capacity is extremely limited for supplying the liquid gases, especially for the liquid oxygen used in the medical sectors. Unfortunately, there is no quick answer, and high shipping charges, lengthier lead times, and capacity bottlenecks will remain a challenge for the Southeast Asia liquid gases market.
Recent Development
- In January 2023, Linde Plc has acquired the remaining portion of the nexAir, LLC as linde has held a minority interest in nex air since 2012. Now they have purchased the remaining 77.2%. portion of the nexAir. It helped the company to expand its business network and further strengthening presence in the southeastern U.S.
Southeast Asia Liquid Gases Market Scope
The Southeast Asia liquid gases market is categorized based on type.
Type
- Liquid Nitrogen
- Liquid Oxygen
- Liquid Argon
On the basis of type, the Southeast Asia liquid gases market is classified into three segments liquid nitrogen, liquid oxygen and liquid.
Southeast Asia Liquid Gases Market Regional Analysis/Insights
The Southeast Asia liquid gases market is segmented on the basis of type.
The countries in the Southeast Asia liquid gases market are the Cambodia, Myanmar, Malaysia, Thailand, Vietnam, Indonesia, Philippines, and Singapore.
Indonesia is expected to dominate the Southeast Asia liquid gases market due to growing investment in the medical and chemical industry.
The country section of the report also provides individual market-impacting factors and changes in market regulation that impact the current and future trends of the market. Data point downstream and upstream value chain analysis, technical trends porter's five forces analysis, and case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Southeast Asia brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Southeast Asia Liquid Gases Market Share Analysis
The Southeast Asia liquid gases market competitive landscape provides details by competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies’ focus related to the Southeast Asia liquid gases market.
Some of the major players operating in the Southeast Asia liquid gases market are Air Liquide, Bangkok Industrial Gas Co., Ltd., AMCS Corporation, Linde plc, Air Products and Chemicals, Inc., MESSER, Asia Industrial Gases Pte. Ltd., NIPPON SHOKUBAI CO., LTD., SASOL, SABIC among others.
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