Mexico Industrial Gases Market Report and Forecast 2024-2032

Mexico Industrial Gases Market Report and Forecast 2024-2032

Market Outlook

According to the report the Mexico industrial gases market is projected to grow at a CAGR of 5.4% between 2024 and 2032 to reach a value of about USD 3.5 billion by 2032. Aided by the industrialisation across various sectors and the escalating demand for high-quality industrial gases in applications such as healthcare, food processing, and manufacturing, the market is expected to grow significantly by 2032.

Industrial gases encompass a broad spectrum of gaseous materials that find application in numerous industries. From oxygen used in hospitals and nitrogen for food preservation to acetylene for welding, these gases are integral to various crucial operations. Their properties, including cooling, inertness, and flammability, make them invaluable across myriad industrial processes.

One of the primary factors propelling the Mexico industrial gases market demand is the booming healthcare sector in the region. With the escalating demand for medical-grade gases, especially oxygen and nitrous oxide for therapeutic and diagnostic purposes, suppliers have ramped up production capacities. The onset of global health challenges, such as the COVID-19 pandemic, further underscored the pivotal role these gases play in addressing healthcare emergencies.

Another avenue fostering Mexico industrial gases market growth is the flourishing food and beverage sector in Mexico. Industrial gases like nitrogen and carbon dioxide are routinely employed in packaging, cooling, and carbonation processes. As consumer demand for quality, freshness, and longer shelf life of products rises, so does the utilisation of these gases in the food processing chain.

Furthermore, the resurgence of the manufacturing and automotive sectors in Mexico is augmenting the demand for industrial gases. As per the Mexico industrial gases market analysis, in metal fabrication and welding operations, gases like argon, acetylene, and oxygen are indispensable. The nation's position as a burgeoning automotive hub necessitates a steady supply of these gases to sustain production.

The burgeoning renewable energy sector, particularly in areas like solar panel manufacturing and wind turbine installations, has also opened new avenues for the consumption of industrial gases. Processes like thin-film deposition in solar panels heavily rely on gases like silane and nitrogen. Additionally, advancements in technology, such as the development of on-site gas generation systems, offer lucrative opportunities and increase the value of the Mexico industrial gases market size. Such systems reduce transportation costs and the carbon footprint, aligning with global sustainability goals.

Market Segmentation

The market can be divided based on type, application, and supply mode.

Market Breakup by Type

• Nitrogen
• Oxygen
• Carbon Dioxide
• Argon
• Hydrogen
• Others

Market Breakup by Application

• Manufacturing
• Metallurgy
• Energy
• Chemicals
• Healthcare
• Others

Market Breakup by Supply Mode

• Packaged
• Bulk
• On-Site

Competitive Landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the Mexico industrial gases market. Some of the major players explored in the report are as follows:

• Air Liquide S.A
• AOC MÉXICO, S.A. of C.V
• Linde plc
• Grupo Infra
• Others