The industrial gases market in Belgium experienced significant growth from 2012 to 2022. After a period of modest growth, the market saw a robust increase from 2017 onwards, highlighted by the substantial year-on-year growth rates: 17.98% in 2017 and 26.19% in 2018. Annual growth continued at a steadier pace after 2018, averaging a compound annual growth rate (CAGR) of 7.45% over the last five years. In 2023, the volume stood around 7.2473 billion kilograms.
Future trends to watch for include:
- Continued growth in demand for industrial gases driven by advancements in technology and increased applications in various sectors.
- The impact of sustainable and green technologies on production and use of industrial gases.
- Potential regulatory changes and their influence on market dynamics.
How does Belgium rank in Industrial Gases Market Size Volume?
| # | 9 Countries | Kilograms | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Belgium | 7,380,800,000 | 2023 | +2.6% | +2.94% | |
| 2 | 2 Austria | 857,060,000 | 2023 | +1.58% | +2.18% | View data |
| 3 | 3 Spain | 826,420,000 | 2023 | -5.1% | -6.53% | View data |
| 4 | 4 Czech Republic | 469,860,000 | 2023 | +1.67% | +1.41% | View data |
| 5 | 5 Finland | 202,660,000 | 2023 | -0.037% | -1.11% | View data |
