Breathing innovation into every industry, the Industrial Gases Market is igniting change across the US, China, Germany, and India.

In the intricate web of modern manufacturing and industrial processes, there exists a silent yet indispensable player, industrial gases. These gases, often taken for granted in their ubiquity, play a crucial role across various sectors, from steelmaking to healthcare, and even food processing. Their applications are as diverse as the industries they serve, making them an essential component of global industrial infrastructure. Industrial gases encompass a broad range of gases produced and used specifically for industrial purposes. These gases are typically manufactured in large quantities and are purified to stringent standards to ensure their effectiveness and safety in various applications. According to the research report, "Global Industrial Gases Market Outlook, 2029" published by Bonafide Research, the market is anticipated to cross USD 145 Billion by 2029, increasing from USD 102 Billion in 2023. The market is expected to grow with 5.97% CAGR by 2024-29. The primary driver for the growth of the industrial gases market is the increased demand from various end-user industries. For instance, the growing steel and metal fabrication industry requires a steady supply of oxygen and argon. Similarly, the expanding healthcare sector necessitates more medical-grade oxygen and nitrous oxide. The food and beverage industry's need for carbon dioxide and nitrogen for preservation and packaging also contributes to market growth. Technological advancements in production processes and applications of industrial gases are another factor driving market growth. For example, the development of more efficient air separation units (ASUs) has reduced production costs, making industrial gases more accessible.

Oxygen is at the forefront of the industrial gases market for several compelling reasons, driven by its versatile applications across key industrial sectors. One of the primary industries where oxygen plays a pivotal role is steelmaking. In processes like basic oxygen steelmaking (BOS) and electric arc furnaces (EAF), oxygen is injected into molten iron to facilitate faster and more efficient combustion of carbon and other impurities. This enhances the steelmaking process by reducing production time, improving energy efficiency, and enhancing the quality of the final steel product. The use of oxygen in steel production not only increases productivity but also lowers operational costs, making it a cornerstone of modern steel manufacturing. In addition to its crucial role in steelmaking, oxygen is essential in healthcare settings. Medical-grade oxygen is used extensively for respiratory therapies, anesthesia administration, and life support systems in hospitals and healthcare facilities worldwide. The metal and mining industry holds a prominent position in the industrial gases market primarily because of its substantial reliance on gases like oxygen and nitrogen for essential production processes. Oxygen, in particular, plays a central role in steelmaking, which is one of the largest consumers of industrial gases. In processes such as basic oxygen steelmaking (BOS) and electric arc furnaces (EAF), oxygen is injected into molten iron to react with impurities like carbon. This enhances the efficiency of combustion, reduces processing times, and improves the quality of the steel produced.

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Onsite pipeline supply has emerged as a leading solution in the industrial gases market, driven by its numerous advantages in meeting the specific needs of industrial facilities. One of the primary reasons for its leadership is its unparalleled efficiency and reliability in delivering gases directly to customer sites. Unlike traditional cylinder or bulk delivery methods, onsite pipelines are installed directly at industrial facilities, connecting gas production units to end-users through a network of pipelines. This setup ensures continuous and uninterrupted gas supply, eliminating the need for manual handling and storage of cylinders or tanks. This continuous supply capability is particularly crucial for industries requiring high volumes of gases, such as steelmaking, chemical manufacturing, and electronics production, where any interruption in supply can lead to costly production delays.

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The wide range of applications drives the North American industrial gases market with strong industrial activity. Advances in technology also propel growth in this market. The health care sector has also been significant, as the demand for medical gases such as oxygen and nitrous oxide continues to increase, primarily to meet an aging population and heightened healthcare requirements. Other sectors include manufacturing and food processing that broaden the industrial gases use in welding, refrigeration, and preservation. Nevertheless, industrial gases in Europe are affected by added importance towards sustainability and environmental policies. The Europe region is now shifting its market toward greener technologies, as companies are investing in gases from renewable sources. Gases are mainly consumed by sectors like chemicals and energy for those processes which really require high purity and efficiency. In terms of countries, Germany and France are at the head of this transition by using advanced technologies to improve the production and distribution of gas. The market for industrial gases in Asia-Pacific is highly dynamic because of the rapid rate of industrialization and urbanization taking place in the region. Countries such as China and India experience rapid growth in manufacturing, electronics, and automotive sectors, among others, all of which require multiple industrial gases in their processes. Furthermore, increased infrastructure developments spur further demand as industries strive for gas solutions that ensure productivity. Additionally, the region is embracing advancements in gas technology, ensuring safe operations and better efficiency standards. Industrial gases growth in South America is slow. Food & beverages, mining, and others are the key segments falling under it. Brazil is the single country that is emerging as a key one by its diversified industrial base and an economy on the move. While market growth is deterred by such economic up-and-down movements and the entangled regulatory issues, companies in this region get increasingly more inclined towards strategic partnerships to expand the base of their service offerings and to further boost operational capabilities. Specific opportunities for the industrial gases market in the Middle East & Africa region exist mainly with the developments in the oil and gas sector. States rich in natural resources are investing highly in infrastructure projects that require large volumes of industrial gases to carry on processing and refining operations. Besides, this region also has serious issues related to geopolitical instability and environmental regulations that might impact the dynamics within the market.

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The industrial gases market is expected to record great expansion as motivated by various factors that convey the unfolding of the changing demands of the different industries. Specifically, the prime driving force behind the growth of industrial gases demand in healthcare is the increasing need for medical gas production, such as oxygen and nitrous oxide used for patients' medical treatments. Similarly, there is a growing demand for gases in the medical industry due to increasing age worldwide and increased cases of chronic diseases. These gases are highly critical in respiratory therapies, anesthetic, and other medical applications. Investments in infrastructure and technology are high, therefore, to meet this demand. Along with this, industry-based manufacturing is changing with the rising pace of technologies and automation. Demand for industrial gases in automobiles, electronics, and chemicals is increasing because of its usage in welding, cutting, and chemical reactions. Industry 4.0 integration is in place, thereby enhancing the efficiency in production processes, thereby paving its way through high-purity gases to improve product quality and safety. This other factor of change in the industrial gases landscape is the global push toward sustainability. The industries are investing in greener technologies and practices-for example, carbon capture and storage solutions and production of hydrogen from renewable sources. That change is not only good for environmental purposes but also brings new routes into the market of opportunity growth, mainly due to the increase in the use of hydrogen within the energy transition strategies.

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Considered in this report
• Geography: Global
• Historic year: 2018
• Base year: 2023
• Estimated year: 2024
• Forecast year: 2029

Regions & Countries covered in the report:
• North America (United States, Canada, Mexico)
• Europe (Germany, United Kingdom, France, Spain, Italy, Russia)
• Asia-Pacific (China, Japan, India, Australia, South Korea)
• South America (Brazil, Argentina, Colombia)
• Middle-East & Africa (UAE, Saudi Arabia, South Africa)

Aspects covered in this report
• Global industrial gases market with its value and forecast along with its segments
• Region & Country-wise industrial gases market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Type
• Oxygen
• Nitrogen
• Hydrogen
• Carbon Dioxide
• Acetylene
• Other Types (ammonia, methane, butane, and propane)

By End user Industry
• Manufacturing Industry
• Chemical Industry
• Metal & Mining Industry
• Energy & Power Industry
• Food & Beverage Industry
• Healthcare Industry
• Other

By Mode of Distribution
• On-Site pipe line
• by Bulk
• By Cylinder

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This release was published on openPR.