Industrial Gases Market Report 2021-26: Industry Analysis, Size, Share, Trends and Forecast
Industrial gases are produced on a large scale to be used across numerous industrial processes. Nitrogen, oxygen, carbon dioxide, argon, neon, xenon and hydrogen are some of the most commonly available industrial gases. These gases comprise elements, molecular compounds and mixtures that are usually prepared at ambient pressures and temperatures. They are characterized by high reactivity or inertness and superior physical properties. Multiple gases, such as medical oxygen, welding gases and balloon helium, are widely available in gas cylinders and portable gas containers of varied sizes. They are consequently utilized across the healthcare, mining, aerospace, pharmaceutical, biotechnology, nuclear and chemical industries.
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Global Industrial Gases Market Trends:
The market is primarily driven by rapid industrialization, especially in developing economies. In line with this, the increasing requirement for industrial gases from numerous end use industries is also contributing to the market growth. Vast quantities of these gases are utilized in the oil and gas sector for controlling multiple processes in refineries. These gases also find application in the photovoltaic industry for manufacturing solar panels. Moreover, they form an essential component in the healthcare sector for numerous applications. For instance, oxygen and helium cylinders are used as a respiratory stimulant to provide artificial ventilation for patients on life support. Liquid helium is a crucial element that is employed in magnetic resonance imaging (MRI) equipment for cooling down superconductive magnet coil scanners. This, along with the increasing healthcare expenditure and rapid expansion of the healthcare infrastructure, is creating a positive outlook for the market. The increasing utilization of cryogenic processes for air separation in multiple industries is acting as another major growth-inducing factor. The implementation of stringent environmental norms that encourage the use of industrial gases and the continually improving methods to produce and distribute industrial gases are some of the other factors contributing to the market growth.
Competitive Landscape
The competitive landscape of the market has also been analyzed and the detailed profiles of the key player operating. Some of the leading companies include Air Liquide S.A., Linde Group, Praxair, Inc., Air Products and Chemicals, Inc., and AirGas, Inc.
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Insights on Market Segmentation:
Breakup by Type
1. Nitrogen
2. Oxygen
3. Carbon dioxide
4. Argon
5. Hydrogen
6. Others
Breakup by Application
1. Manufacturing
2. Metallurgy
3. Energy
4. Chemicals
5. Healthcare
6. Others
Breakup by Supply Mode
1. Packaged
2. Bulk
3. On-site
Breakup by Region
1. Asia-Pacific
2. Middle East and Africa
3. Latin America
4. North America
5. Europe
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