Industrial Gases Industry: A Vital Sector For The Modern Economy

Global industrial gases sector data book is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed sectoral outlook report) and summary presentations on individual areas of research along with a statistics e-book.

Oxygen Market Insights

The global oxygen gas market was valued at 644,075.3 million SCF in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 6.3% from 2023 to 2030. Manufacturing application accounted for the largest market share in 2022 and is projected to grow at second highest CAGR during the forecast period. The demand for oxygen in the manufacturing industry is projected to witness substantial growth in the developing economies owing to the growing manufacturing industry such as electronics, transportation, food, and chemicals in India, China, Brazil, and South Korea. The growing demand for advanced industrial gas- in the electronic industry, is expected to further propel the growth of this segment. Oxygen is used on a large scale in the electronic industry. The growing electronic industry is expected to drive the demand for oxygen. Moreover, owing to the recent outbreak of the pandemic, people around the world are practicing new ways of studying, working, and communicating through videoconferencing and other technologies. This recent trend is expected to have a lasting impact on semiconductor demand and open new possibilities for existing products and services thus driving the demand.

Access the Global Industrial Gases Industry Data Book from 2023 to 2030, compiled with details by Grand View Research

Nitrogen Market Insights

The global nitrogen gas market was valued at 436,775.5 million SCF in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 6.8% from 2023 to 2030. Nitrogen gas has high demand in the manufacturing sector for applications such as laser cutting, metal fabrication, and food packaging. It provides an inert atmosphere that prevents oxidation and maintains the quality of the manufactured products.

The manufacturing industry relies heavily on the market for a diverse range of applications. One of its primary uses is laser cutting, a popular method for precision cutting of metals and other materials. It is commonly used as an assist in laser cutting processes. It helps to cool the cut and remove debris, resulting in cleaner and more precise cuts. Additionally, nitrogen gas provides an inert atmosphere that prevents oxidation during the cutting process, reducing the risk of discoloration or corrosion on the cut surfaces.

Another significant application of the market in manufacturing is in metal fabrication. Nitrogen gas is utilized as a purge gas for welding processes such as TIG (Tungsten Inert Gas) and MIG (Metal Inert Gas) welding. By displacing oxygen in the vicinity of the weld, it helps prevent the formation of oxide scale, which could negatively impact the quality and strength of the weld joint. This ensures that the fabricated metal products retain their structural integrity and meet the required specifications. Thus, the market plays a vital role in the manufacturing industry, enabling precise laser cutting, maintaining the quality of metal fabricated products, and offering excellent preservation capabilities in food packaging.

Hydrogen Market insights

The global hydrogen gas market was valued at 251,958.6 million SCF in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 6.0% from 2023 to 2030. Growing welding processes in fabrication industry is expected to escalate the demand for hydrogen gas. The welding process primarily involves tungsten inert gas welding, metal inert gas welding, and brazing. The growing usage of metal in the automotive industry has spurred its demand over the past few years. In addition, the growing aerospace industry has propelled the usage of metal in aircraft production. The demand for automobiles is likely to skyrocket owing to the growing usage of automatic and electric vehicles. Rising individual disposable income coupled with a huge range of options in passenger cars at low prices has fueled the demand for vehicles across the globe. The rising purchase of automobiles is anticipated to fuel the demand for metal products, in turn, will positively influence the hydrogen gas market.

Carbon Dioxide Market Insights

The global carbon dioxide market was valued at 71,185.4 million SCF in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 5.1% from 2023 to 2030. The growing usage of metal in the automotive and aerospace industry is anticipated to drive demand for carbon dioxide over the projected years. The demand for automobiles surged during the period of Covid-19 owing to safety concerns regarding public transport. Shut down of public transport due to prolonged lockdown during the year 2020-21, compelled people to consider purchasing passenger cars for commuting purposes, and that also provided safety from Covid-19 infection. This factor triggered the demand for automobiles in countries like China, India, and the U.S. This factor is likely to bolster the demand for metal welding, as a result, will positively impact the carbon dioxide market over the forthcoming years.

Order your copy of the Free Sample of “Industrial Gases Industry Data Book - Oxygen, Nitrogen, Hydrogen, Carbon Dioxide, Argon and Acetylene Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030” Data Book, published by Grand View Research.

Argon Market Insights

The global argon gas market was valued at 117,330.4 million SCF in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 4.4% from 2023 to 2030. Growing personal vehicle purchase on the account of rising population coupled with growing individual disposable income in growing economies such as China, India, Brazil, U.S. and others is anticipated to positively impact argon gas market over the forthcoming years. National Association of Motor Vehicle Manufacturers in Brazil stated that the country’s automotive industry produced 152,666 units of vehicles in January 2023, which was an increase of around 5.0% from January 2022. The production included 125,060 passenger cars, 22,775 commercial vehicles, 4,049 trucks, and 782 buses. In addition, U.S.-based J.D. Power and LMC Automotive revealed that 1,013,700 units of passenger cars were estimated to be sold through retail business by the end of the year 2022 in the U.S. This factor is likely to propel the demand for argon over the projected years.

Acetylene Market Insights

The global acetylene gas market was valued at 29,322.4 million SCF in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 4.1% from 2023 to 2030. The welding market has been experiencing significant growth in recent years, which has contributed to the increased demand for products as a fuel gas for welding. Welding is a process that involves joining two or more pieces of metal by heating the surfaces to their melting points, causing them to fuse together. Acetylene gas, when mixed with oxygen, produces a flame that can reach temperatures high enough to melt most metals, making it an ideal fuel gas for welding.

The growth of the welding market can be attributed to several factors, including the increasing demand for metal fabrication in various industries such as construction, automotive, and aerospace. Welding is also used in the repair and maintenance of metal structures and equipment, which is becoming increasingly important as companies seek to extend the lifespan of their assets. Furthermore, advances in welding technology have made the process more efficient and cost-effective, which has further contributed to its growth. For example, the use of robotic welding systems has enabled companies to increase their production rates while reducing labor costs.The growth of the welding market is expected to continue in the coming years, which is likely to drive the demand for the market.

Key players operating in the industrial gases industry are –

• Air Liquide • Air Products Inc. • INOX-Air Products Inc. • Iwatani Corp. • Linde plc • Messer • SOL Group • Strandmøllen A / S • Taiyo Nippon Sanso Corp.