Industrial Gases Industry To Increase Due To Rapid Industrialization

Industrial gases industry data book covers oxygen, nitrogen, hydrogen, carbon dioxide, argon and acetylene market.

The global industrial gases industry was valued at 1,600,924.6 million SCF in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 6.1% from 2023 to 2030.

Grand View Research’s 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 nitrogen 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. Oxygen is the second largest component of the atmosphere, comprising around 21% volume. Although oxygen is utilized by living beings on Earth, it has applications across different end-use industries. Oxygen is usually available in the gaseous form, but for storage and transportation purposes, it is generally liquefied for ease of handling. Oxygen finds application in various end-use industries including automotive & transportation equipment, aerospace & aircraft, chemicals, glass, healthcare, energy, metal production, pulp & paper, refining, water & wastewater treatment, pharmaceutical & biotechnology, and welding & metal fabrication. Oxygen finds wide application in the metal industries in combination with acetylene and other fuel gases for scarfing, metal cutting, hardening, welding cleaning, and melting. Oxygen or oxygen-enriched air is extensively used in the iron and steel manufacturing process.

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 is widely used in various industrial sectors, such as chemicals, pharmaceuticals, electronics, and metal fabrication. The growth of the nitrogen gas industry is driven by the expansion of industrial activities and the rising demand for nitrogen gas in various sectors. In the pharmaceutical industry, the market plays a crucial role in the packaging of various medications to extend their shelf life and to secure their quality and integrity. It is used during the manufacturing process to create an inert environment, preventing oxidation or degradation of sensitive pharmaceutical compounds. It is commonly used in packaging to displace oxygen and extend the shelf life of medications and drug products. The expansion of industrial activities and the increasing demand for products in these sectors contribute to the growth of the market.

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

Hydrogen Market insights

The global nitrogen 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. Hydrogen gas is mainly utilized for welding purposes in industrial operations. Hydrogen helps enhance stability in plasma welding and cutting activities in various welding processes. Hydrogen can also be mixed with argon to provide a gas shield to protect the welded metal from corrosion and contamination. In addition, hydrogen plays a key role in metal fabrication to secure metal products from oxidation during heat treatment. Another major application of hydrogen is in glass manufacturing. Hydrogen is used in combination with other gases to secure glass from oxidation during glass production.

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. This is attributed to its rising utilization in enhanced oil recovery (EOR) owing to the depleting oil reserves coupled with heavy dependence on crude oil imports, mainly in the Asia Pacific. Moreover, growing end-use industries like food & beverages and medical are expected to boost the carbon dioxide (CO2) industry during the forecast period. The U.S. is one of the most prominent markets for CO2 in the world, growing at a CAGR of 4.9% in terms of revenue in the upcoming years. The growth of the CO2 industry in the U.S. is attributed to increasing industrialization and the flourishing oil and gas industry in the country.

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 consumption of the product in automobiles, transportation equipment, stainless steel manufacturing plants, fabricated metalworking units, among others is likely to boost the market growth in the coming years. Moreover, due to its superior thermal insulation capabilities over air, it is one of the most often utilized gases to fill scuba divers' dry suits.

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 primary factors driving the market is the increasing demand for acetylene in various end-use industries, such as chemical manufacturing, metal fabrication, and automotive manufacturing. Acetylene gas is primarily used as a fuel gas for cutting, welding, and brazing applications due to its high flame temperature and quick ignition. The market demand for acetylene gas is expected to experience further growth due to the increasing demand for metal cutting and welding applications. Moreover, the healthcare sector is emerging as another key driver for the market, with rising demand for the market in the treatment of various medical conditions, including hypertension and angina.

Go through the table of content of Industrial Gases Industry Data Book to get a better understanding of the Coverage & Scope of the study.

Industrial Gases Industry Data Book Competitive Landscape

The global industrial gases market is highly competitive due to presence of a large number of well small scale and large-scale manufacturers and suppliers of industrial gases. The small-scale companies majorly focus on stable pricing, regular supply, and product quality to serve the best to its clients. Whereas the large-scale companies regularly invest time and money on research and development activities for innovation and new product development related to industrial gases. Large-scale companies also focus on building a strong supply chain for the seamless distribution of industrial gases to their customers.

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.