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Analyzing the Global Market for Industrial Gases

The global market for industrial gases has been growing at a good pace in recent years, with the market expected to pick up growth in the coming years to 2023. The global market for industrial gases is estimated to cross $115 billion in terms of revenue by the end of 2025.


Let us take a look at the primary driving factors behind the industry:


  • The demand for industrial gases has been the boom in metal manufacturing.  

  • This led to an increase in the demand for industrial gases such as hydrogen, nitrogen, oxygen, and argon.  

  • As manufacturers move rapidly to adopt new technologies for steel production, this is also driving the demand for oxygen, which has seen a sharp increase in the last two to three years.

  • An increase in investment in the aerospace and automobile sectors are also driving demand for industrial gases as these sectors require metal fabrication services.

  • Need for oxygen has been rapidly growing in the field of gas cutting as it ensures a clean cut through and through.

  • Argon is also seeing an increase in demand in the manufacturing and fabrication sectors for use in the welding processes as a shield gas.


The demand for industrial gases also continued to remain strongly driven by an increase in investments in infrastructure development and petroleum reserves in emerging markets. In fact, metal fabrication and production sector is expected to remain the second major sector for industrial gases, next to petroleum refining.


Traditionally, the sector is known to be surging ahead regardless of economic factors, owing to the evolving multiplicity of new applications both in conventional and novel domains, with Asia-Pacific accounting for almost 35% of the global industrial gases market value.


The industry gained momentum after 2012, following anticipated turnaround in economic situation, increased production and inventory levels and greater demand as consumer confidence stabilizes. Over the longer term to 2023, annual growth rate in the industrial gas market is expected to significantly exceed the rate of industrial production driven by multitude of factors including opening of new startups, rapid industrialization of emerging economies, increasing demand for energy, environment regulations, improving healthcare sector, and advancements in industrial technology.


Not witnessing much merger and acquisition activity, the biggest players in the industry remained Linde AG, Praxair Inc., Air Liquide AG and Air Products and Chemicals Inc. amongst others.


In recent years there has been significant development in the high technology markets including semiconductor, flat panel display, solar panels and photovoltaic cells which continues to drive the demand for high purity industrial gases. Further demand is expected to emanate from development of other alternate energy sources such as hydrogen fuel cell technology which is being pursued to replace fossil fuels for automobiles and electricity generation.


Aruvian Research analyzes the global industrial gas industry in its research report Analyzing the Global Market for Industrial Gases 2019. The report is a comprehensive coverage of this industry and the analysis is carried out through:


  • Industry overview

  • Analysis of industry value

  • Industry segmentation by products and by geography

  • An analysis of the global industrial gas industry through the various regions - Asia Pacific, Europe and North and South America

  • Analysis of various markets through an industry overview, industry value, industry and geographic segmentation, and industry forecast. Countries analyzed in this report include Canada, China, France, Germany, Italy, Japan, Netherlands, UK and the US.

  • A forecast of the industrial gases market is included, with data up to 2023.


The report further analyzes the industry through a Porter’s Five Forces analysis as well through a look at buyer and supplier power, threat of new entrants, competitive rivalry and threat of substitutes.


We also include an in-depth analysis of the competition in the global industrial gases market, which is followed by the analysis of the major industry players such as Praxair, Air Liquide, Air Products & Chemicals, Inc., and many others. The players are analyzed through:


  • Corporate profile

  • Analysis of business segments

  • Financial analysis

  • SWOT analysis


This report on the Global Industrial Gases Market from Aruvian Research is a comprehensive analytical presentation that is ideal for investors and researchers alike.

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