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Industrial Gas Global Market Report 2022

Industrial Gas Global Market Report 2022

  • May 2022
  • 400 pages
  • ID: 5308935
  • Format: PDF
  • The Business Research Company

Summary

Table of Contents

Major companies in the industrial gas market include The Linde Group, Air Liquide, SIG Gases Berhad, Air Products and Chemicals Inc, Mitsubishi Chemical Holdings Corp, Air Water Inc, Taiyo Nippon Sanso Corporation, Messer Group GmbH, Iwatani Corporation, and Arkema SA.

The global industrial gas market is expected to grow from $110.92 billion in 2021 to $127.92 billion in 2022 at a compound annual growth rate (CAGR) of 15.3%. The market is expected to grow to $219.34 billion in 2026 at a CAGR of 14.4%.

The industrial gas market consists of the sales of industrial gases by entities (organizations, sole traders, or partnerships) that manufacture industrial organic and inorganic gases in compressed, liquid, and solid forms. Industrial gases are also referred to as bulk gases or commodity gases.

The main types of industrial gas are nitrogen, oxygen, carbon dioxide, hydrogen, and other types industrial gas.Nitrogen is a nonmetallic chemical element that under standard conditions is a colorless, odorless, inert gas, that is constituting 78 percent of the Earth’s atmosphere, and that is used mainly in the industrial synthesis of ammonia, as a component of inert atmospheres, and in liquid form as a refrigerant.

The mode of supply is bulk, packaging, and pipeline.The packaging is cylinders, bottles, canisters, cartridges, cryogenic tanks/vessels, and others packaging.

The end-user industries involved are chemicals, metallurgy, manufacturing, food and beverage, healthcare, and other end-user industries.

Asia Pacific was the largest region in the industrial gas market in 2021.North America was the second-largest region in the industrial gas market.

The regions covered in the industrial gas report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

New developments are taking place in healthcare with increasing emphasis on a healthier and generally better quality of life.In addition to oxygen, nitrous oxide, nitric oxides other industrial gases like hydrogen, helium, and xenon are all being prepared for use in pharmaceutical-based products.

Treatments and drug developments using induced pluripotent stem cells (IPS) are bringing a new added value to the industry through the application of systems using gases such as carbon dioxide and liquid nitrogen, which is indispensable for the cultivation and preservation of cells and tissues driving demand for high-grade industrial gases.

Interest rates globally are forecasted to rise in most of the developing and developed economies, during the forecast period, this is expected to limit new investments in the market.Most countries across the world are raising interest rates to control inflation and also to limit the flow of capital out of the country.

This is likely to affect new investments in terms of expansion, research, and development of new products. For instance, the US interest rates are expected to rise up to 3.5% by 2021. These factors are expected to have a negative impact on the market as borrowing money becomes expensive, thereby affecting the market growth.

Industrial gas companies are increasingly supplying carbon dioxide emitted from industrial facilities to greenhouses.CO2 emitted from power plants and refineries are stored in local capacities and empty natural gas fields, and transported to greenhouses via pipelines.

This process acts as an intelligent CO2 recycling solution and reduces the carbon footprint of greenhouses.For example, Linde collects carbon flow from the Shell oil refinery near Rotterdam, Netherlands, and supplies about 400,000 tonnes of CO2 to over 580 greenhouses across Rotterdam and Amsterdam.

This saves the combustion of 115 million cubic meters of natural gas and avoids emissions of 205,000 tonnes per year of CO2.

The countries covered in the industrial gas market are Argentina, Australia, Austria, Bangladesh, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Iran, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, Ukraine, USA, and Vietnam.

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