Press release
Industrial Gas Global Market Projected to Experience a Growth Rate of 13.2% CAGR, Reaching over $272.59 Billion By 2028 | BASF SE, Praxair Inc., Air Water Inc., Airgas Inc., Iwatani Corporation
Industrial Gas Market
As per the report, the industrial gas market size has grown rapidly in recent years. It will grow from $146.1 billion in 2023 to $166.04 billion in 2024 at a compound annual growth rate (CAGR) of 13.7%. The industrial gas market size is expected to see rapid growth in the next few years. It will grow to $272.59 billion in 2028 at a compound annual growth rate (CAGR) of 13.2%.
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Advancements In Healthcare Fuels Industrial Gases Market
New developments are taking place in healthcare with an increasing emphasis on a healthier and generally better quality of life. In addition to oxygen, nitrous oxide, nitric oxide, and other industrial gases like hydrogen, helium, and xenon are all being prepared for use in pharmaceutical-based products. Treatments and drug developments using induced pluripotent stem cells (IPS) are bringing a new added value to the industry through the application of systems using gases such as carbon dioxide and liquid nitrogen, which are indispensable for the cultivation and preservation of cells and tissues, driving demand for high-grade industrial gases.
Industrial Gas Companies' Innovative Solution For Greenhouses
Industrial gas companies are increasingly supplying carbon dioxide emitted from industrial facilities to greenhouses. CO2 emitted from power plants and refineries is stored in local capacities and empty natural gas fields and transported to greenhouses via pipelines. This process acts as an intelligent CO2 recycling solution and reduces the carbon footprint of greenhouses. Linde, for example, collects carbon dioxide from the Shell oil refinery near Rotterdam, Netherlands, and distributes it to over 580 greenhouses in Rotterdam and Amsterdam. This saves the combustion of 115 million cubic meters of natural gas and avoids emissions of 205,000 tons per year of CO2.
The industrial gas market covered in this report is segmented -
1) By Type: Nitrogen, Oxygen, Carbon Dioxide, Hydrogen, Other Industrial Gas
2) By Mode of Supply: Bulk, Packaging, Pipe Line
3) By Packaging: Cylinders, Bottles, Canisters, Cartridges, Cryogenic Tanks/Vessels, Other Packagings
4) By End User Industry: Chemicals, Metallurgy, Manufacturing, Food & Beverage, Healthcare, Other End-User Industries
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Major companies operating in the industrial gas market report are Asia Technical Gas Co. Pte. Ltd., Universal Industrial Gases Inc., BASF SE, Mitsubishi Chemical Holdings Corporation, Linde GmbH, Air Liquide S.A.S., Praxair Inc., Air Products and Chemicals Inc., Showa Denko K.K., Taiyo Nippon Sanso & Co. Ltd., Air Water Inc., Airgas Inc., Iwatani Corporation, Messer Group GmbH, Matheson Tri-Gas Inc., SOL S.p.A., Nippon Gases, Ellenbarrie Industrial Gases, Yingde Gases Group Co. Ltd., SIAD Group, Blue Star Limited, Standex International Corporation, Gulf Cryo, Frigoglass SAIC, nexAir LLC, Arneg S.p.A., Sapio Group, PT Samator Indo Gas TBK, SIG Gases Berhad, Gases Plus, Bhuruka Gases Limited
Contents of the report:
1. Executive Summary
2. Industrial Gas Market Report Structure
3. Industrial Gas Market Trends And Strategies
4. Industrial Gas Market - Macro Economic Scenario
5. Industrial Gas Market Size And Growth
…..
27. Industrial Gas Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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