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Industrial Gases Market worth US$58.4 Billion by 2018
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Global Industrial Gases Market: Overview
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.
Entry of New Players Dividing Shares
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.
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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R&D Activities Expected to Produce Fruitful Results
Apart from the sustained demand coming from prospering end use industries, the market for industrial gases is poised to gain traction from a few new trends such as increase in research and development activities for new application, inorganic expansion production capacities of companies as well as mergers and acquisitions, adaptation of integrated distributed channel, and innovation across industrial gas packaging. Growth in the industries of rubber manufacturing, automotive, and packaging are some of the other drivers of this market. On the other hand, stringent regulations that need to be complied with and threat of CO2 emission is retraining the market from attaining greater potential.
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Key Takeaways:
The global industrial gases market is estimated to be worth 58.4 billion by 2018
Market shares are fragmented with no company any close to a position of dominance
Major players are expanding geographically to sustain inflow of demand in a scenario wherein product pricing has become a major aspect.
Explore Transparency Market Research’s award-winning coverage of the global (Energy) Industry
https://www.globenewswire.com/news-release/2019/09/05/1911366/0/en/Rapid-Strides-of-Shale-Gas-Augment-Splendid-Revenue-Generation-for-Global-Natural-Gas-Liquid-Market-TMR.html
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About Us
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers.
TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.
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