Global Industrial Gases Market : Things You Should Know

 

Global industrial gases market was valued at US$ 112.2 billion in 2021, and it is expected to reach a value of US$ 241.62 billion by 2028, at a CAGR of more than 15.8% over the forecast period (2022-2028).

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Industrial gases are created as gaseous products for use in a wide range of industrial production processes at ambient temperature and pressure. Pure gases, compounds, and gas mixes are among them. Oxygen, nitrogen, hydrogen, carbon dioxide, carbon monoxide, acetylene, and noble gases are some of the most widely used industrial gases. Industrial gases are provided via gas cylinders, bulk liquid, or pipelines in either gaseous or liquified form. The industrial gases market is fueled by an increase in global oil & gas refining capacity as well as increased natural gas consumption for home and industrial applications.

Growing demand for industrial gases from key end-use sectors such the oil and gas, chemicals, petrochemicals, food and beverage, and power industries. The increasing use of industrial gases in various sectors such as construction, metals, mining, and food services is driving the market's expansion. Furthermore, increasing global demand for electronic gadgets and renewables are driving market expansion. Furthermore, rising crude oil consumption and the necessity for refining may boost demand for industrial gases during the anticipated period.

Top Player's Company Profiles

·        

    • Asia Technical Gas Co (Pte) Ltd (Singapore)
    • Air Liquide S.A. (France)
    • Dubai Industrial Gases INDUSTRIES (UAE)
    • Ellenbarrie Industrial Gases Ltd (India)
    • Air Products and Chemicals Inc. (US)
    • Bhuruka Gases Ltd. (India)
    • India Glycols Ltd (India)
    • Tripti Gases Pvt. Limited (Germany)
    • Goyal MG Gases Pvt. Ltd (India)

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Recent Developments

  • In June 2022, Air Products has said it will support China’s new round of development, with a focus on the energy transition, as it looks to help the country meet its decarbonisation goals and lay the foundations for a cleaner future.
  • In April 2022, Cryogenic Industrial Solutions (CIS) has confirmed its acquisition of Colorado-based NITRO Crete. NITRO Crete will continue to be led by its current CEO Stephen De Bever.

Global Industrial Gases Key Market Trends

  • Bulk oxygen is frequently needed in the medical field to reduce the risk of having too much oxygen in the lungs or other body tissues during operations and to provide artificial breathing. Nitrogen is used in pre-flight lung diagnosis to determine an individual's ability to respond to a simulated aeroplane cabin environment. Carbon dioxide can be utilised during insufflation and combined with oxygen to stimulate respiratory simulation.
  • Power-to-Liquids technologies are receiving more investment as they move closer to scaling up commercialization because e-fuels like e-methane, e-kerosene, and e-methanol provide a method to replace traditional fossil fuels in operating internal combustion engines.

 

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