The global market for industrial gases is growing at a significant pace and is most likely to be a billion dollar market as per current forecasts. To study the global industrial gases market in more detail, Persistence Market Research has undertaken an exhaustive study and prepared an comprehensive report titled “Industrial Gases Market: Global Industry Analysis 2012–2016 and Forecast 2017–2025,” which captures the different aspects of the global industrial gases market and throws light on the various factors likely to impact global consumption and revenue growth during an eight year period from 2017 to 2025.
The global market for industrial gases is highly competitive and to present a clear picture of the vendor ecosystem, the report features a dedicated section on the competitive landscape of the global industrial gases market. Here, we present the global market structure, a competition dashboard, and detailed profiles of some of the top companies operating in the global industrial gases market. In the company profiles, we highlight the business overview, key financials, business and growth strategies, and recent market developments of these leading players. This section is intended to provide the report audience with a bird’s eye view of the competitive scenario of the global industrial gases market.
The initial sections of the report comprise the executive summary (featuring market overview, market analysis, and our key recommendations); a market introduction (featuring the market taxonomy and market definition); and a market viewpoint (featuring the global market opportunity analysis and an analysis of the macro-economic and forecast factors – more specifically global industry value addition and global GDP growth outlook). The next section presents the global industrial gases market historical analysis for 2012 – 2016 and forecast for 2017 – 2025. In this section, we have covered the global market dynamics (drivers, challenges, opportunities) and the global industrial gases market value chain. The next few sections feature the global market value and volume analysis by gas type, application, and region.
This is followed by the regional forecasts of the industrial gases market where we provide information on the historical and current market size, a regional competition intensity mapping by major companies, and key regional trends and developments. Towards the end of the report, we highlight the exhaustive research methodology that we have adopted to derive the volume projections and revenue estimations of the global industrial gases market.
In order to arrive at the eight year forecast of the global industrial gases market, we have deployed our proven and tested research methodology that comprises detailed market profiling (where we leverage in-depth secondary research to ascertain the overall global market size, top industry players, top products, industry associations, etc.); formulation of a discussion guide and creation of a list of respondents (manufacturers, distributors, retailers, and industry experts) for extensive primary research; data collection and validation using the triangulation method wherein primary and secondary research data along with Persistence Market Research analysis contribute to the final data; and finally data analysis and scrutiny using advanced company tools to obtain pertinent qualitative and quantitative insights into the global industrial gases market.
By Gas Type
Metal manufacturing and fabrication applications to remain largest consumers of industrial gases
While industrial gases find widespread application across several industrial sectors, the metal manufacturing and fabrication sector is likely to witness the highest consumption of industrial gases during the forecast period. Consequently, the Metal Manufacturing & Fabrication segment by application is likely to remain the largest and dominant segment in the global industrial gases market, estimated to hold a value share of just under 50% in 2017 and likely to increase to about 51% by the end of the forecast period in 2025. This represents an increase of 150 basis points in 2025 over 2017. The Metal Manufacturing & Fabrication segment is anticipated to reach a market valuation in excess of US$ 50 Bn by the end of 2025, registering a CAGR of 8.2% in terms of value.
Chemicals is the second largest application segment, estimated to reach a market valuation of about US$ 18 Bn by 2025 end, with a CAGR of 7.7%. Healthcare is the third largest segment in terms of market value, estimated to reach about US$ 11 Bn by 2025 end, with a CAGR of 7.3%. The Food & Beverage segment will register the highest segmental CAGR of 8.3%; though in terms of value, it is way behind the top three application segments.
Factors boosting the demand for industrial gases across various applications
Industrial gases are fast gaining importance across several end-use applications. There is an increasing preference for oxygen gas in steel manufacturing as well as in the healthcare industry. The global market for oxygen gas is becoming highly competitive with several key players tapping into the immense market opportunity offered by a growing demand for oxygen in several industrial sectors. Leading companies in the global industrial gases market are investing in product and application innovations to capture a maximum share of the global market.
Increasing demand from steel and chemical industries: Industrial gases are widely used in steel manufacturing and across several applications in chemical industries such as in synthesis processes to help create modified atmosphere during reaction, in the transportation and logistics of chemical and allied products, as feedstock, and also in cryogenic applications. An increasing demand from these industries is anticipated to fuel the global market for industrial gases over the forecast period.
Growing demand from technical and healthcare applications: Several applications in the healthcare and medical sector such as cryogenic and surgical applications use industrial gases extensively and the demand for these gases in the healthcare sector is expected to increase in the coming years. A rapid growth of the healthcare sector globally is likely to boost the demand for industrial gases in this industry, thereby fueling revenue growth of the global industrial gases market during the period of forecast.
Rising demand for food gas and growing gasion of packaged food and beverages with modified atmosphere packaging: Industrial gases find application in the food and beverages industry. A rapidly expanding global population coupled with changing food habits and burgeoning fast food chains is expected to significantly increase the demand for gases used in the food and beverage industry. An increasing need for ready-to-eat and on-the-go food and beverage products has necessitated appropriate packaging and transportation at a modified atmosphere, as such types of food and beverage products are typically sourced from distant locations. Industrial gases play an important role in this function and are widely used in the packaged food and beverages industry. This increasing demand is anticipated to lead to a significant surge in revenue growth in the global market for industrial gases over the forecast period.