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Aluminosilicates Market Poised for Steady Growth at 3.7% CAGR Through 2033 | Persistence Market Research Report

04-04-2025 07:28 AM CET | Chemicals & Materials

Press release from: Persistence Market Research

Aluminosilicates Market Poised for Steady Growth at 3.7% CAGR

The GCC (Gulf Cooperation Council) industrial gases market has seen significant growth in recent years, reflecting the region's expanding industrial and manufacturing base. As of 2021, the market surpassed a valuation of USD 2 billion and is projected to reach around USD 2.3 billion by 2024. Over the forecast period from 2024 to 2031, the market is expected to witness a compound annual growth rate (CAGR) of 7.8%, driven by increasing demand from key industries such as construction, oil, gas, and power. The region's substantial reliance on industrial gases for various applications has led to robust market dynamics, as more industries seek efficiency and sustainability in their operations.

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The industrial gases market in the GCC region is heavily influenced by factors such as the rising demand for gases in industrial processes, government initiatives aimed at supporting infrastructure development, and the growing need for technologically advanced gases for critical applications. Among the different segments of this market, Saudi Arabia stands out as the leader, holding a dominant market share of over 50% in 2023. Saudi Arabia's significant industrial expansion in sectors such as construction, oil, power, and water, alongside a steady recovery post-COVID-19, further reinforces its strong market position. These factors collectively make Saudi Arabia the driving force behind the GCC industrial gases market.

Key Highlights from the Report

• The GCC industrial gases market surpassed USD 2 billion in 2021 and is expected to reach USD 2.3 billion by 2024.
• The market is expected to grow at a CAGR of 7.8% between 2024 and 2031.
• Transportation costs are a significant factor influencing the price of industrial gases.
• Localized production and supply chains are becoming more popular to reduce transportation costs.
• The Kingdom of Saudi Arabia holds over 50% of the total market share in the GCC region.
• Major market players include Linde, Air Liquide, Messer, and Emirates Industrial Gases.

Market Segmentation

The GCC industrial gases market is segmented based on product type, application, and end-user industries. Industrial gases typically include oxygen, nitrogen, hydrogen, carbon dioxide, and rare gases, each serving various purposes across different sectors. Oxygen and nitrogen are the most widely used gases in the GCC region, catering to applications in the chemical, pharmaceutical, and energy industries. Hydrogen gas is also gaining traction in the region due to its increasing use in clean energy applications and as a feedstock in chemical production.

In addition to the product segmentation, the industrial gases market is also categorized by end-user industries. The key sectors driving the demand for industrial gases in the GCC region include construction, oil & gas, power generation, and water treatment. The construction industry, in particular, is a significant consumer of gases like nitrogen and oxygen for processes like welding, cutting, and materials testing. The oil and gas sector, which is a cornerstone of the GCC economy, uses industrial gases for drilling, refining, and enhanced oil recovery operations, further bolstering market growth.

Regional Insights

In the GCC region, Saudi Arabia dominates the industrial gases market, accounting for over half of the market share as of 2023. The Kingdom's robust oil and gas industry, along with increasing investments in infrastructure and construction, continues to drive the demand for industrial gases. Moreover, Saudi Arabia's recovery from the economic downturn caused by the COVID-19 pandemic has been impressive, with a 6% year-on-year growth in industrial gases consumption.

The UAE also holds a significant share of the market, driven by its rapidly growing industrial base and the country's ambition to diversify its economy. Industries such as construction, petrochemicals, and power generation in the UAE are expanding, contributing to an increased demand for industrial gases. The government's Vision 2021 and subsequent initiatives aimed at improving energy efficiency and sustainability further support the growth of the industrial gases sector.

Market Drivers

One of the primary drivers of the GCC industrial gases market is the rapid industrialization and infrastructural development within the region. The region's push to diversify its economies away from oil dependency and expand non-oil sectors like manufacturing, chemicals, and construction increases the demand for industrial gases. Additionally, the growing trend of adopting cleaner technologies, especially in the oil and gas and energy sectors, is driving the demand for hydrogen and other specialty gases.

Another key driver is the focus on improving energy efficiency and reducing carbon emissions. The GCC governments are promoting the use of industrial gases such as carbon dioxide and hydrogen in carbon capture and utilization processes, which supports environmental sustainability. Moreover, industrial gas suppliers are increasingly offering customized solutions to meet the specific needs of these industries, further encouraging market growth.

Market Restraints

While the GCC industrial gases market is witnessing significant growth, it is not without challenges. One major restraint is the high cost of industrial gases due to transportation expenses. Gases need to be transported over long distances, often through pipelines or in pressurized cylinders, which can be costly, especially in remote industrial locations. These transportation costs increase the overall cost of industrial gases, which may be a barrier for smaller businesses operating in the region.

Another challenge is the environmental impact of industrial gas production and transportation. Although industrial gases are vital for various industries, their production can result in greenhouse gas emissions. Companies are under pressure to adopt more sustainable practices, which could increase operational costs as they invest in cleaner technologies and processes.

Market Opportunities

The increasing adoption of hydrogen as a clean energy source presents a significant opportunity for the industrial gases market in the GCC region. As countries in the region, especially Saudi Arabia and the UAE, look to diversify their energy portfolios and reduce their dependence on fossil fuels, hydrogen is gaining prominence as a sustainable alternative. This presents a growth opportunity for industrial gas suppliers who can tap into the growing demand for hydrogen in both energy production and industrial applications.

Additionally, the construction boom in the GCC countries provides a robust opportunity for industrial gas companies. As infrastructure projects like mega-cities, airports, and transportation networks continue to expand, the need for industrial gases used in welding, cutting, and other construction activities will continue to rise. This creates a fertile ground for expansion and innovation in industrial gas supply solutions.

Reasons to Buy the Report

✔ Gain a comprehensive understanding of the GCC industrial gases market, its current trends, and future outlook.
✔ Access detailed market segmentation and industry analysis to guide investment and business decisions.
✔ Identify key growth drivers, restraints, and opportunities shaping the future of the market.
✔ Evaluate the competitive landscape with insights on leading players and recent market developments.
✔ Stay ahead of market shifts with forecasts and predictions for the industry up to 2031.

Company Insights

Key players operating in the GCC industrial gases market include:

• Linde Group
• Air Liquide
• Messer Group
• Emirates Industrial Gases

Recent Developments:

1. Linde has expanded its industrial gas production capacity in the UAE to support growing demand from the construction and power sectors.

2. Air Liquide has invested in a new hydrogen production facility in Saudi Arabia as part of the country's push toward clean energy solutions.

The GCC industrial gases market is poised for steady growth, fueled by increasing industrial activity, the rise in infrastructure projects, and the region's transition to more sustainable energy sources. With the continued presence of key market players and a favorable regulatory environment, the GCC region remains a significant hub for the industrial gases market.

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About Persistence Market Research:

At Persistence Market Research, we specialize in creating research studies that serve as strategic tools for driving business growth. Established as a proprietary firm in 2012, we have evolved into a registered company in England and Wales in 2023 under the name Persistence Research & Consultancy Services Ltd. With a solid foundation, we have completed over 3600 custom and syndicate market research projects, and delivered more than 2700 projects for other leading market research companies' clients.

Our approach combines traditional market research methods with modern tools to offer comprehensive research solutions. With a decade of experience, we pride ourselves on deriving actionable insights from data to help businesses stay ahead of the competition. Our client base spans multinational corporations, leading consulting firms, investment funds, and government departments. A significant portion of our sales comes from repeat clients, a testament to the value and trust we've built over the years.

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