Polaris Market Research has published a detailed report on the global Industrial Gases Market, offering valuable insights for stakeholders. The report covers key aspects, including global market value, competitor market share, and regional distributions. It highlights current market trends and identifies future growth opportunities, providing essential data to help businesses navigate the evolving market landscape. This comprehensive analysis equips stakeholders with actionable information to make informed decisions and stay competitive. By addressing market dynamics, challenges, and emerging opportunities, the report serves as a critical resource for understanding the complexities of the Industrial Gases market and planning strategic actions effectively.
Global Industrial Gases Market size and share is currently valued at USD 115.01 billion in 2024 and is anticipated to generate an estimated revenue of USD 199.69 billion by 2032, according to the latest study by Polaris Market Research. Besides, the report notes that the market exhibits a robust 7.1% Compound Annual Growth Rate (CAGR) over the forecasted timeframe, 2024 – 2032
Key Market Drivers:
- Rising industrialization in emerging economies.
- Growing use in healthcare for oxygen therapy and other medical applications.
- Expansion in the food and beverage industry for preservation and packaging.
- Increasing reliance on industrial gases for enhanced manufacturing processes.
- Demand from the electronics sector for semiconductor production.
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Key Companies in Industrial Gases Market:
- Air Liquide
- Air Products and Chemicals, Inc.
- INOX-Air Products Inc.
- Iwatani Corporation
- Linde plc
- Messer
- Praxair Technology, Inc.
- SOL Group
- Strandmøllen
- TAIYO NIPPON SANSO CORPORATION
- Westfalen Group
Industrial Gases market scope
The industrial gases market has a broad scope across multiple sectors, including healthcare, manufacturing, and food processing. Their critical role in applications like medical oxygen, semiconductor production, and metal fabrication drives growth. The adoption of cleaner energy solutions also supports demand for gases like hydrogen. Expanding industrialization in developing economies presents further opportunities.
Industrial Gases Market Segmentation:
Industrial gases are segmented by type, end-user, and distribution mode. Types include oxygen, nitrogen, hydrogen, carbon dioxide, and specialty gases. End-users range from healthcare and manufacturing to food processing and electronics. Distribution modes include bulk, on-site, and cylinder delivery systems. Regionally, demand is high in Asia-Pacific due to industrial growth and healthcare advancements.
Industrial Gases Market, Product Type Outlook (Revenue – USD Billion, 2019-2032)
- Oxygen
- Nitrogen
- Hydrogen
- Carbon dioxide
- Acetylene
- Argon
- Others
Industrial Gases Market, Application Outlook (Revenue – USD Billion, 2019-2032)
- Healthcare
- Manufacturing
- Metallurgy & Glass
- Food & Beverages
- Retail
- Chemicals & Energy
- Others
Industrial Gases Market, Distribution Outlook (Revenue – USD Billion, 2019-2032)
- On-site
- Bulk (Liquid Gas Transport)
- Cylinder (Merchant)
- Others
Industrial Gases Industry Developments:
- October 2023: Linde plc entered into long-term agreements to supply industrial gases to Indian Oil Corporation’s Panipat refinery, strengthening its presence in Northern India.
- September 2023: The Westfalen Group expanded its footprint in France with the inauguration of a new industrial gas plant in Arzal, located on the Atlantic coast of Brittany.
- October 2023: Air Liquide announced an investment of over €140 million to establish a low-carbon industrial gas platform. The platform will produce hydrogen, oxygen, nitrogen, and argon to support sustainable industrial operations.
- June 2022: Air Products unveiled plans to develop a new industrial gas complex in Bihar, India. This facility will supply Indian Oil Corporation Limited (IOCL) with essential gases, including hydrogen, nitrogen, and steam, to support refinery operations.
The Industrial Gases market report offers an in-depth analysis of market dynamics, including trends, sizes, patterns, and growth factors. It highlights critical developments and emerging trends to help stakeholders refine their strategies and strengthen market positioning. The report concludes with a detailed summary of key findings and the research methodologies employed. This comprehensive analysis serves as a valuable resource for businesses, investors, and stakeholders, enabling them to make informed decisions and drive sustainable growth.
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