The Italian industrial gases market has experienced a steady decline from 2012 through 2022. Significant year-on-year contractions occurred from 2012 to 2018, causing the market to shrink each year. An unusual spike in 2019 temporarily reversed this downward trend, but the market contracted again from 2020 onwards. Over the last five years, the Compound Annual Growth Rate (CAGR) has averaged -1.14%, indicating a persistent market recession. As of 2023, the volume stood lower compared to 2022, continuing the long-term downtrend.
Future trends to watch for include advancements in technology driving efficiency improvements, potential market consolidation, and shifts towards sustainable and green industrial gas applications, which could alter demand dynamics. Additionally, regulatory changes and economic shifts in Italy could either hinder or spur market growth in the foreseeable future.
