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Industrial Gases Market Report by Type (Nitrogen, Oxygen, Carbon Dioxide, Argon, Hydrogen, and Others), Application (Manufacturing, Metallurgy, Energy, Chemicals, Healthcare, and Others), Supply Mode (Packaged, Bulk, On-site), and Region 2024-2032

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    Report

  • 140 Pages
  • March 2024
  • Region: Global
  • IMARC Group
  • ID: 5946576
The global industrial gases market size reached US$ 104.6 Billion in 2023. Looking forward, the publisher expects the market to reach US$ 157.1 Billion by 2032, exhibiting a growth rate (CAGR) of 4.6% during 2023-2032. The rising product utilization in the food and beverage (F&B) industry, widespread product application in manufacturing activities, and the recent development of on-site gas generation systems are some of the major factors propelling the market.

Industrial gases refer to highly pure gases that are used in industrial applications owing to their specialized properties. It includes oxygen, nitrogen, carbon dioxide, helium, argon, and hydrogen. They are commercially produced by various methods, such as atmospheric separation, chemical reactions, and extraction from natural sources. Industrial gases are widely used for combustion processes, metal fabrication, food packaging, electronics manufacturing, chemical production, drug formulation, and fuel extraction. They are safe, versatile, and eco-friendly substances that save costs, prevent spoilage, improve product quality, and enhance the efficiency of industrial processes.

The global industrial gases market is expected to expand at a larger CAGR during the forecast period. The rising product utilization in the healthcare industry for respiratory therapies, anesthesia, medical gas systems, and magnetic resonance imaging (MRI) scanners is providing an impetus to the market growth. Furthermore, the growing product adoption in the oil and gas industry for inerting, blanketing, sparging, and purging applications and to increase extraction of oil and gas from reservoirs is contributing to the market growth. Besides this, the increasing emphasis on renewable energy sources is facilitating the demand for industrial gases that are widely used in fuel cells, energy storage systems, and alternative fuel applications. Other factors, including rapid infrastructural development activities, implementation of supportive government policies, and increasing product utilization in the transportation industry, are anticipated to drive market growth.

Industrial Gases Market Trends/Drivers:

Significant growth in the food and beverage (F&B) industry

Industrial gases play a crucial role in the F&B industry as they are widely used in freezing and cooling applications to preserve the texture, nutrients, and freshness of various food products, such as meat, poultry, seafood, baked goods, and vegetables. Along with this, industrial gases find extensive applications in carbonated beverages, such as soft drinks, beer, and sparkling water, to provide fizz, enhance taste, and improve the overall sensory experience of the beverages. Furthermore, the growing demand for industrial gases in food packaging and preservation to create an inert environment, reduce microbial growth, slow down oxidation, prevent spoilage, and maintain products' quality, freshness, and texture is providing an impetus to the market growth. In addition to this, the increasing adoption of packaged food products, owing to the changing consumer lifestyles and hectic schedules, is acting as another growth-inducing factor.

The rapid expansion of manufacturing activities

Industrial gases are widely used in the manufacturing of metal products, electronics, glasses, rubbers, automobiles, and chemicals. In line with this, they aid in generating high-temperature flames that are used for efficient welding, brazing, and cutting operations. Furthermore, industrial gases create an inert environment, which prevents oxidation during annealing, hardening, and tempering of metal products. Additionally, they are widely used in the automotive industry to inflate tires, fabricate vehicle components, and enable smooth painting and coating operations. Besides this, industrial gases act as feedstock material in the manufacturing of various chemicals, such as ammonia and methanol.

Recent technological advancements

The industrial gases market has witnessed rapid technological advancements in recent years to improve product efficiency, promote sustainability, and save costs. In line with this, the recent development of on-site gas generation systems that produce industrial gases directly at the point of use, thus eliminating the need for transportation and storage equipment, is positively influencing the market growth. Furthermore, the introduction of advanced gas purification techniques, such as pressure swing adsorption (PSA) and membrane separation, which enables the removal of impurities and contaminants, ensures high quality, and meets stringent industry standards, is favoring the market growth. Additionally, the development of sustainable hydrogen production methods, such as electrolysis, which utilizes renewable electricity, thus promoting sustainability and reducing reliance on fossil fuels, is supporting the market growth.

Industrial Gases Industry Segmentation:

The publisher provides an analysis of the key trends in each segment of the global industrial gases market report, along with forecasts at the global and regional levels from 2024-2032. The report has categorized the market based on type, application, and supply mode.

Breakup by Type:

  • Nitrogen
  • Oxygen
  • Carbon Dioxide
  • Argon
  • Hydrogen
  • Others
  • Nitrogen dominates the industrial gases market
The report has provided a detailed breakup and analysis of the industrial gases market based on the type. This includes nitrogen, oxygen, carbon dioxide, argon, hydrogen, and others. According to the report, nitrogen represented the largest market segment.

Nitrogen is a cost-effective, safe, and abundantly available gas that is widely used in preserving, purging, and blanketing applications. It also aids in preventing oxidation, corrosion, and spoilage in different industries. Furthermore, nitrogen provides a reliable and safe option for various processes, owing to its non-flammable and non-toxic nature, which assists in ensuring the well-being of workers and preventing potential hazards. Moreover, the implementation of supportive government policies to build a robust infrastructure for the production, storage, and distribution of nitrogen to ensure easy accessibility for various industries is acting as another growth-inducing factor. Apart from this, the incorporation of advanced production technologies to increase yield and provide a high level of purity is favoring the market growth.

Breakup by Application:

  • Manufacturing
  • Metallurgy
  • Energy
  • Chemicals
  • Healthcare
  • Others
  • Manufacturing holds the largest share in the industrial gases market
The report has provided a detailed breakup and analysis of the industrial gases market based on the application. This includes manufacturing, metallurgy, energy, chemicals, healthcare, and others. According to the report, manufacturing represented the largest market segment.

Industrial gases are widely used in manufacturing activities for various applications, such as welding, cutting, heat treatment, metal fabrication, chemical production, food processing, and electronics manufacturing. In addition to this, they aid manufacturers in optimizing processes, improving efficiency, streamlining operations, reducing costs, and increasing overall productivity. Furthermore, industrial gases also assist in maintaining strict quality and safety standards across manufacturing facilities by creating an inert environment and preventing microbial growth, oxidation, and corrosion of equipment and products. Apart from this, several key players are heavily investing in establishing extensive networks and distribution channels to cater to the growing demand for industrial gases in manufacturing operations. Moreover, the recent development of advanced manufacturing processes, such as three-dimensional (3D) printing, is facilitating the demand for industrial gases to create a controlled atmosphere, prevent contamination, and improve production efficiency.

Breakup by Supply Mode:

  • Packaged
  • Bulk
  • On-site
  • Packaged represents the leading supply mode in the industrial gases market
The report has provided a detailed breakup and analysis of the industrial gases market based on the supply mode. This includes packaged, bulk, and on-site. According to the report, packaged industrial gases represented the largest market segment.

Packaged industrial gases are delivered in compressed and liquified forms in cylinders and tanks, which enhances convenience, increases portability, and allows easy transportation, storage, and handling across various industries. Furthermore, the widespread utilization of packaged industrial gases for multiple applications, such as welding and cutting operations, laboratory analysis, food and beverage processing, healthcare, metal fabrication, automotive repairs, and electronics manufacturing, is providing an impetus to the market growth. Moreover, the presence of a well-established network of industrial gas suppliers, including distribution centers, gas filling plants, and retail outlets, is strengthening the market growth. Apart from this, packaged industrial gases offer flexibility and customization options to address the specific applications and unique requirements of customers from various industries.

Breakup by Region:

  • Asia Pacific
  • North America
  • Europe
  • Middle East and Africa
  • Latin America
Asia Pacific exhibits a clear dominance in the market, accounting for the largest industrial gases market share.

The report has also provided a comprehensive analysis of all the major regional markets, which includes Asia Pacific, North America, Europe, Middle East and Africa, and Latin America. According to the report, Asia Pacific represented the largest market segment.

Asia Pacific holds the largest market share, owing to the rapid economic growth and increasing industrialization and infrastructural development activities. Furthermore, Asia Pacific is a lucrative manufacturing destination that allows companies to establish cost-effective production facilities for automobiles, electronics, chemicals, semiconductors, and machinery. These production facilities heavily rely on industrial gases for welding, cutting, heat treatment, and metal fabrication operations. Moreover, the rapid expansion of the healthcare industry in the Asia Pacific region, owing to the rising geriatric population, increasing health awareness, and growing investment in healthcare infrastructure, is facilitating the demand for industrial gases for various applications, such as respiratory support, anesthesia, and medical imaging.

Competitive Landscape:

The global industrial gases market is experiencing steady growth due to rapid industrialization activities across the globe. The top producers of industrial gases are focusing on expanding their global footprint by establishing new production facilities, distribution networks, and partnerships with local players. In addition to this, the increasing focus on sustainability has prompted several companies to develop energy-efficient production technologies that aid in attracting environmentally conscious customers, reducing environmental pollution, and contributing to greener industrial facilities. Furthermore, several top companies are incorporating automation and digital technologies to optimize operations, increase supply chain efficiency, and enhance customer experience.

The report has provided a comprehensive analysis of the competitive landscape in the global industrial gases market. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

Air Liquide S.A.
  • Linde Group
  • Air Products and Chemicals, Inc
  • Airgas, Inc

Recent Developments:

In May 2023, Air Liquide S.A. signed a memorandum of understanding (MoU) with Holcim to decarbonize its new cement production plant using Air Liquide's proprietary carbon capture technology.

In April 2023, Linde Groups has signed a long-term agreement with Evonik, a Singapore based specialty chemicals company. Under the agreement, Linde Group will build, own, and operate a nine-megawatt alkaline electrolyzer plant to produce and supply green hydrogen to Evonik.

In May 2022, Airgas, Inc. signed an agreement with Hyzon Motors, a multinational supplier of zero-emissions hydrogen fuel cell powered commercial vehicles. Under the agreement, Airgas Inc, will test Hyzon's two heavy duty hydrogen fuel cell trucks for its commercial activities.

Key Questions Answered in This Report

1. What is the market for industrial gases?
2. What will be the global industrial gases market outlook during the forecast period (2024-2032)?
3. What are the global industrial gases market drivers?
4. What are the major trends in the global industrial gases market?
5. What is the impact of COVID-19 on the global industrial gases market?
6. What is the global industrial gases market breakup by type?
7. What is the global industrial gases market breakup by application?
8. What is the global industrial gases market breakup by supply mode?
9. What are the major regions in the global industrial gases market?

Table of Contents

1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Properties
4.3 Key Industry Trends
5 Global Industrial Gases Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Breakup by Type
5.5 Market Breakup by Application
5.6 Market Breakup by Supply Mode
5.7 Market Breakup by Region
5.8 Market Forecast
5.9 SWOT Analysis
5.9.1 Overview
5.9.2 Strengths
5.9.3 Weaknesses
5.9.4 Opportunities
5.9.5 Threats
5.10 Value Chain Analysis
5.10.1 Overview
5.10.2 Research and Development
5.10.3 Raw Material Procurement
5.10.4 Manufacturing
5.10.5 Distribution
5.10.6 Export
5.10.7 End-Use
5.11 Porters Five Forces Analysis
5.11.1 Overview
5.11.2 Bargaining Power of Buyers
5.11.3 Bargaining Power of Suppliers
5.11.4 Degree of Competition
5.11.5 Threat of New Entrants
5.11.6 Threat of Substitutes
6 Market Breakup by Type
6.1 Nitrogen
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Oxygen
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Carbon Dioxide
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Argon
6.4.1 Market Trends
6.4.2 Market Forecast
6.5 Hydrogen
6.5.1 Market Trends
6.5.2 Market Forecast
6.6 Others
6.6.1 Market Trends
6.6.2 Market Forecast
7 Market Breakup by Application
7.1 Manufacturing
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Metallurgy
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Energy
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Chemicals
7.4.1 Market Trends
7.4.2 Market Forecast
7.5 Healthcare
7.5.1 Market Trends
7.5.2 Market Forecast
7.6 Others
7.6.1 Market Trends
7.6.2 Market Forecast
8 Market Breakup by Supply Mode
8.1 Packaged
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Bulk
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 On-site
8.3.1 Market Trends
8.3.2 Market Forecast
9 Market Breakup by Region
9.1 North America
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Europe
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 Asia Pacific
9.3.1 Market Trends
9.3.2 Market Forecast
9.4 Latin America
9.4.1 Market Trends
9.4.2 Market Forecast
9.5 Middle East and Africa
9.5.1 Market Trends
9.5.2 Market Forecast
10 Imports and Exports
10.1 Imports by Major Countries
10.2 Exports by Major Countries
11 Industrial Gases Manufacturing Process
11.1 Product Overview
11.2 Raw Material Requirements
11.3 Manufacturing Process
11.4 Key Success and Risk Factors
12 Competitive Landscape
12.1 Market Structure
12.2 Key Players
12.3 Profiles of Key Players
12.3.1 Air Liquide S.A.
12.3.2 Linde Group
12.3.3 Air Products and Chemicals, Inc.
12.3.4 Airgas, Inc.
List of Figures
Figure 1: Global: Industrial Gases Market: Major Drivers and Challenges
Figure 2: Global: Industrial Gases Market: Sales Value (in Billion US$), 2018-2023
Figure 3: Global: Industrial Gases Market: Breakup by Type (in %), 2023
Figure 4: Global: Industrial Gases Market: Breakup by Application (in %), 2023
Figure 5: Global: Industrial Gases Market: Breakup by Supply Mode (in %), 2023
Figure 6: Global: Industrial Gases Market: Breakup by Region (in %), 2023
Figure 7: Global: Industrial Gases Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 8: Global: Industrial Gases Industry: SWOT Analysis
Figure 9: Global: Industrial Gases Industry: Value Chain Analysis
Figure 10: Global: Industrial Gases Industry: Porter’s Five Forces Analysis
Figure 11: Global: Industrial Gases (Nitrogen) Market: Sales Value (in Million US$), 2018 & 2023
Figure 12: Global: Industrial Gases (Nitrogen) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 13: Global: Industrial Gases (Oxygen) Market: Sales Value (in Million US$), 2018 & 2023
Figure 14: Global: Industrial Gases (Oxygen) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 15: Global: Industrial Gases (Carbon Dioxide) Market: Sales Value (in Million US$), 2018 & 2023
Figure 16: Global: Industrial Gases (Carbon Dioxide) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 17: Global: Industrial Gases (Argon) Market: Sales Value (in Million US$), 2018 & 2023
Figure 18: Global: Industrial Gases (Argon) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 19: Global: Industrial Gases (Hydrogen) Market: Sales Value (in Million US$), 2018 & 2023
Figure 20: Global: Industrial Gases (Hydrogen) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 21: Global: Industrial Gases (Other Types) Market: Sales Value (in Million US$), 2018 & 2023
Figure 22: Global: Industrial Gases (Other Types) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 23: Global: Industrial Gases (Applications in Manufacturing) Market: Sales Value (in Million US$), 2018 & 2023
Figure 24: Global: Industrial Gases (Applications in Manufacturing) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 25: Global: Industrial Gases (Applications in Metallurgy) Market: Sales Value (in Million US$), 2018 & 2023
Figure 26: Global: Industrial Gases (Applications in Metallurgy) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 27: Global: Industrial Gases (Applications in Energy) Market: Sales Value (in Million US$), 2018 & 2023
Figure 28: Global: Industrial Gases (Applications in Energy) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 29: Global: Industrial Gases (Applications in Chemicals) Market: Sales Value (in Million US$), 2018 & 2023
Figure 30: Global: Industrial Gases (Applications in Chemicals) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 31: Global: Industrial Gases (Applications in Healthcare) Market: Sales Value (in Million US$), 2018 & 2023
Figure 32: Global: Industrial Gases (Applications in Healthcare) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 33: Global: Industrial Gases (Other Applications) Market: Sales Value (in Million US$), 2018 & 2023
Figure 34: Global: Industrial Gases (Other Applications) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 35: Global: Industrial Gases (Packaged Supply Mode) Market: Sales Value (in Million US$), 2018 & 2023
Figure 36: Global: Industrial Gases (Packaged Supply Mode) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 37: Global: Industrial Gases (Bulk Supply Mode) Market: Sales Value (in Million US$), 2018 & 2023
Figure 38: Global: Industrial Gases (Bulk Supply Mode) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 39: Global: Industrial Gases (On-site Supply Mode) Market: Sales Value (in Million US$), 2018 & 2023
Figure 40: Global: Industrial Gases (On-site Supply Mode) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 41: North America: Industrial Gases Market: Sales Value (in Million US$), 2018 & 2023
Figure 42: North America: Industrial Gases Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 43: Europe: Industrial Gases Market: Sales Value (in Million US$), 2018 & 2023
Figure 44: Europe: Industrial Gases Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 45: Asia Pacific: Industrial Gases Market: Sales Value (in Million US$), 2018 & 2023
Figure 46: Asia Pacific: Industrial Gases Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 47: Latin America: Industrial Gases Market: Sales Value (in Million US$), 2018 & 2023
Figure 48: Latin America: Industrial Gases Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 49: Middle East and Africa: Industrial Gases Market: Sales Value (in Million US$), 2018 & 2023
Figure 50: Middle East and Africa: Industrial Gases Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 51: Global: Industrial Gases: Import Breakup by Country (in %)
Figure 52: Global: Industrial Gases: Export Breakup by Country (in %)
Figure 53: Industrial Gases Manufacturing: Detailed Process Flow
List of Tables
Table 1: Industrial Gases: General Properties
Table 2: Global: Industrial Gases Market: Key Industry Highlights, 2023 and 2032
Table 3: Global: Industrial Gases Market Forecast: Breakup by Type (in Million US$), 2024-2032
Table 4: Global: Industrial Gases Market Forecast: Breakup by Application (in Million US$), 2024-2032
Table 5: Global: Industrial Gases Market Forecast: Breakup by Supply Mode (in Million US$), 2024-2032
Table 6: Global: Industrial Gases Market Forecast: Breakup by Region (in Million US$), 2024-2032
Table 7: Global: Industrial Gases: Import Data by Country
Table 8: Global: Industrial Gases: Export Data by Country
Table 9: Industrial Gases Manufacturing: Raw Material Requirements
Table 10: Global: Industrial Gases Market: Competitive Structure
Table 11: Global: Industrial Gases Market: Key Players

Companies Mentioned

  • Air Liquide S.A.
  • Linde Group
  • Air Products and Chemicals Inc.
  • Airgas Inc.

Methodology

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Table Information