The Industrial Gases Production Value in Spain stood at 1.41 Billion Euros in 2023, showing a relatively stable and recovering trend over the past decade. From 2013 to 2023, the market experienced fluctuations, notably with a significant drop in 2014, a smaller decline continuing into 2016, and a discernible rebound starting in 2017. The recent years saw a slight but consistent increase, with 2022 and 2023 showing 4.9% and 3.72% growth respectively.
The forecast for 2024 and beyond predicts a steady rise in production value, with the Compound Annual Growth Rate (CAGR) over the next five years projected at 1.19%, resulting in a cumulative growth rate of 6.1% by 2028.
Future trends to watch for include:
- Technological advancements and automation in production processes
- Increasing demand for industrial gases in emerging industries such as renewable energy
- Potential economic disruptions and raw material price fluctuations
- Regulatory changes related to environmental concerns and carbon emissions
