Industrial Gases Market is Likely to Clock a CAGR of 6.3% during from 2012 - 2018

Industrial gases are specific gaseous materials produced for industrial purposes, with the most prominent ones being oxygen, nitrogen, carbon dioxide, helium, and hydrogen, although various other mixtures are also manufactured and provided as gas cylinders. A number of industries require these customized gases, including steel, oil and gas, chemicals and petrochemicals, biotechnology, medicine, environmental protection, and nuclear power, and the market for the same is feeding off the prosperity of each of them. According to a business intelligence study by Transparency Market Research (TMR), the demand in the global industrial gases market will expand at a notable CAGR of 6.3% during the forecast period of 2012 to 2018, with the opportunities estimated to reach a value of US$58.4 billion by 2018.

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The analyst of the report has detected that the number of vendors connected to the value chain of the global industrial gases is consistently increasing, which in turn is intensifying the competitive landscape. With the emergence of a number of regional players, the competition is coming down to pricing of the finished products. The report identifies Air Products & Chemicals Inc., Air Liquid SA, Praxair Inc., Linde Group, Sig Gases Berhad, BASF SE, Yingde Gases Group Company Limited, Taiyo Nippon Sanso Corporation, Messer Group GmbH, and Iwatani Corporation as some of the notable names in this fragmented market scenario.

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To gain greater shares, pricing products at reasonable ranges is not enough. The vendors of this market are also focusing on expanding geographically and managing the lack of production differentiations. Additionally, strengthening of supply chain is also expected to formulate a happy scenario for the players.

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Based on products, the TMR report segments the industrial gases market into hydrogen, acetylene, helium, argon, carbon dioxide, oxygen, nitrogen, and hydrogen. Currently, hydrogen segment is provided for the most prominent chunk of demand. Geographically, emerging economies of China, India, and South Korea are expected to maintain Asia Pacific as the region with maximum potential.

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This release was published on openPR.