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Industrial Gases Procurement Market Soars to $128.6B in 2022, Projected to Hit $185B by 2025 | ELINT Market Research

07-10-2024 04:03 PM CET | Energy & Environment

Press release from: ELINT Market Research

Industrial Gases Procurement Market

Industrial Gases Procurement Market

Numerous dynamics are bolstering the industry's projected growth, according to an analysis of the factors influencing the Industrial Gases market. Based on data from ELINT Market Research's extensive Industrial Gases procurement market research report, the industry is growing significantly. Industrial Gases valuation reached $128.6 billion globally as of 2022, providing a solid basis for future growth. Experts anticipate a CAGR of 14% to 16%, suggesting an even more promising future. This growing trend highlights the business's bright future, fueled by changing market conditions and a rise in the demand for industrial gases in several industries.

The thorough analysis by ELINT provides insightful information about how the Industrial Gases market has evolved over the years and its future projections. Considering its projected development trajectory, the Industrial Gases procurement market's prospects are improving. Predictions point to a notable acceleration, with the sector predicted to reach $185 billion by 2025. The growing trend highlights its adaptability and durability because it supports numerous industries globally. Technological developments and growing industrialization drive the demand for industrial gases, which is good news for the industry's long-term growth and innovation.

Request a FREE Sample Copy of Industrial Gases Procurement Market Report here: https://elintmarketresearch.com/procurement-intelligence/industrial-gases/?utm_source=openpr&utm_medium=raj#request-free-sample

Industrial Gases Procurement Market Thrives on Multi-Sector Demand Surge and Healthcare Emphasis

Several factors influencing the Industrial Gases market's growth trajectory are now causing it to enter a revolutionary phase. Growing demand from various sectors, such as electronics, food and beverage, healthcare, and industrial, is a major driving force behind its development. Industrial gases are primarily utilized in these economic sectors for cutting, welding, freezing, and packaging, among other processes that aid in market development. The healthcare industry is expanding the market, specifically the need for medical gases such as oxygen, nitrogen, and carbon dioxide for diagnostic and therapeutic uses. The growth of global infrastructure development programs also drives the demand for industrial gases in metal fabrication and construction.

Despite having a lot of room to grow, the Industrial Gases market may grow slower due to several obstacles. The cost of raw materials is primarily caused by natural gas and crude oil price fluctuations. These price adjustments immediately affect the expenses associated with producing industrial gases. The handling, storage, and transportation of industrial gases are subject to stringent regulatory frameworks that challenge market participants in terms of compliance, thereby increasing operational complexity and expenses. The Industrial Gases market is expected to grow in the years to come despite these obstacles, thanks to technological developments, R&D spending, and strategic alliances that foster creativity.

Key Highlights for the Industrial Gases Procurement Market

 During 2022-2023, manufacturing held the largest market share and dominated the Industrial Gases market. The expansion of industrialization, the need for increased efficiency, and strict quality standards all aided in the manufacturing sector's ascent to prominence. It is projected that after 2023, this category's share will increase even more due to ongoing industrial expansion and technological advancements.

 For industrial gas, cryogenic distillation continued to lead the Industrial Gases market in 2022-2023. Its superiority is attributed to various industries' higher productivity, stability, and adaptability. Cryogenic distillation is expected to grow even more popular after 2023 due to continuous improvements in cryogenic technology and a rise in the market for specialty gases.

 Solutions and gases made explicitly for specific industrial uses are increasingly in demand. To meet strict quality standards, exact compositions and high-purity gases are necessary for the electronics, aviation, and healthcare industries. To create novel formulas and increase the variety of products they offer, gas suppliers are investing in R&D.

Browse the summary of the report and complete Table of Contents (TOC) here: https://elintmarketresearch.com/procurement-intelligence/industrial-gases/?utm_source=openpr&utm_medium=raj

Industrial Gases Procurement Market Regional Scope

Significant regional differences in the maturity levels of the Industrial Gases market are revealed by geographic analysis. The most developed are the US, Canada, and Australia, with advanced Industrial Gases sectors and highly developed markets. It is acknowledged that these countries' sophisticated market ecosystems, robust legal frameworks, and sophisticated infrastructure all contribute to their maturity. These characteristics imply stability and foster an atmosphere that supports the Industrial Gases sector's ongoing expansion and innovation.

On the other hand, businesses that function in somewhat developed markets face a unique combination of possibilities and difficulties. For example, the Industrial Gases market is growing in Brazil and South Africa. Gaining market share and experiencing growth are made possible by these markets' dynamism. It also requires adjusting to changing customer expectations, navigating regulatory environments, and managing infrastructure constraints. Despite these obstacles, the dynamic character of these markets suggests the possibility of substantial expansion and investment opportunities for forward-thinking industry participants skilled in navigating emerging markets.

Major Developments in the Industrial Gases Procurement Market

 Linde, a well-known worldwide Industrial Gases provider, recently celebrated reaching an important milestone in its partnership with Indian Oil Corporation (IOC). The company has secured a sizeable Industrial Gases supply contract to help IOC's Panipat refinery, a leading participant in the Indian oil and gas industry, run its operations. IOC wants to streamline processes, increase energy efficiency, and lower emissions at the Panipat refinery using Linde's Industrial Gases solutions experience.

 One of the leading steel companies, POSCO, has started an inventive project in Pohang, South Korea: building Industrial Gases facilities. By reducing carbon emissions, optimizing resource utilization, and raising product quality, POSCO hopes to achieve its long-term sustainability goals by integrating these cutting-edge facilities into its operations.

Key Players in the Industrial Gases Procurement Market

The well-known Taiyo Nippon Sanso Corporation (TNSC) has a significant capacity for producing gas. Linde Plc is commended for its creative concepts and extensive global reach. The quality of Air Liquide's broad range of products makes it stand out. Air Products is well known for its cutting-edge and environmentally friendly methods. Messer's unwavering dependability and safety standards have earned it respect. These businesses dominate the market for industrial gas. These leaders from the Industrial Gases market can leverage their combined strength to drive constant innovation and change the competitive landscape whenever possible.

For more information, custom requirements, and discounts contact us @ https://elintmarketresearch.com/contact-us/?utm_source=openpr&utm_medium=raj

Pivotal Aspects Addressed in the Industrial Gases Procurement Market Research Report

What are the Industrial Gases market's current dimensions and anticipated growth rates?

The Industrial Gases market was projected to be worth $128.6 billion globally as of 2022. Projected growth in the market is anticipated, with a potential CAGR of 12-14% and an estimated value of $185 billion by 2025.

What dynamics are driving the Industrial Gases procurement market's expansion?

Industrial Gases is becoming increasingly necessary for many industries, such as electronics, food and beverage, healthcare, and manufacturing. Market expansion is also facilitated by efforts to build the world's infrastructure.

Which segments are driving higher growth for the Industrial Gases market?

The demand for increased efficiency and the speed of industrialization were two factors that led to the manufacturing segment taking the lead in 2022-2023. Cryogenic distillation is the most widely utilized method due to its exceptional efficacy and adaptability to numerous industries.

Related Reports:

Nitrogen Gas Procurement Market:
https://elintmarketresearch.com/procurement-intelligence/nitrogen-gas/?utm_source=openpr&utm_medium=raj

Oxygen Gas Procurement Market:
https://elintmarketresearch.com/procurement-intelligence/oxygen-gas/?utm_source=openpr&utm_medium=raj

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ELINT Market Research, a Unit of Be Compliant LLC, 317 Commercial St. NE, Ste. A, PMB 379, Albuquerque, NM 87102

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ELINT Market Research is the Procurement Market Intelligence and advisory unit of BE Compliant LLC. Providing accurate and easy-to-consume procurement market intelligence. Accurate category insights and data can be hard to find however with ELINT, pricing data, supplier intelligence and contract strategies are available at a click.

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