Press release
Rising Glass Applications In Construction Fuel Growth In Industrial Gases-Glass Market: An Emerging Driver Transforming The Industrial Gases-Glass Industry Market Landscape
Industrial Gases-Glass Industry
What Is the Industrial Gases-Glass Industry Market Size and Projected Growth Rate?
The market size of the industrial gases-glass industry has experienced robust growth in the past years. The market, initially worth $4.17 billion in 2024, is set to expand to $4.55 billion by 2025, reflecting a compound annual growth rate (CAGR) of 9.3%. The significant growth during the historical period was primarily driven by factors such as the rise in glass manufacturing techniques, float glass production, inert gas atmospheres, environmental and emission regulations, and the efficiency of the melting furnace.
The market size of the industrial gases-glass industry is projected to witness substantial growth in the forthcoming years. It is estimated to expand to $6.64 billion by 2029, with a compound annual growth rate (CAGR) of 9.9%. The anticipated growth during this forecast period can be linked to sustainable manufacturing methodologies, specialised production of glass, an increase in glass recycling, expanding global infrastructure, and increasing demand for flat glass. The forecast period will also see significant trends like advanced combustion technologies, cryogenic cooling solutions, gas control and monitoring mechanisms, smart technologies in gas delivery systems as well as collaborations with glass manufacturers.
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What Are the Major Segments in the Industrial Gases-Glass Industry Market?
The industrial gases-glass industry market covered in this report is segmented -
1) By Type: Hydrogen, Oxygen, Nitrogen, Argon, Acetylene
2) By Function: Forming and Melting, Atmospheric Control, Finishing Or Polishing
3) By Transportation Mode: Cylinder And Packaged Gas Distribution, Merchant Liquid Distribution, Tonnage Distribution
4) By Application: Container Glass, Float Glass, Fiber Glass, Specialty Glass
Subsegments:
1) By Hydrogen: Gaseous Hydrogen, Liquid Hydrogen
2) By Oxygen: Gaseous Oxygen, Liquid Oxygen
3) By Nitrogen: Gaseous Nitrogen, Liquid Nitrogen
4) By Argon: Gaseous Argon, Liquid Argon
5) By Acetylene: Gaseous Acetylene, Liquid Acetylene
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What Are The Driving Industrial Gases-Glass Industry Market Evolution?
The industrial gases-glass market's expansion is likely to be fueled by the growing utilization of glass in the construction industry. This sector of industry pertains to the manufacturing, trade, and upkeep of infrastructures, which includes building, remodeling, and maintenance. In recent times, glass has found use as an insulating material, a structural component, and a cladding solution in this sector. The ability to transmit up to 80% of natural lighting, offer sound and heat insulation, are key benefits of using glass in construction projects. For example, in February 2023, the Office for National Statistics, a UK government entity, reported that the UK's annual construction output for 2022 rose by 5.6% in comparison to 2021. This was after an extraordinary growth of 12.8% in 2021. As a result, the rising utilization of glass in the construction industry is propelling the growth of the industrial gases-glass market.
Which Firms Dominate The Industrial Gases-Glass Industry Market Segments?
Major companies operating in the industrial gases-glass industry market include Saint-Gobain, The Linde Group, Linde Gas Korea Ltd., Air Liquide SA, Air Products and Chemicals Inc., Showa Denko K.K., Osaka Sanso Co. Ltd., Air Water Inc., Tokai Gas Co. Ltd., CRYOTECH Anlagenbau GMBH, Messer Group GmbH, AMCS Corporation, Matheson Tri-Gas Inc., SOL Group (South Korea), Gulf Cryo Industrial Gases LLC, Welsco Inc., Airgas Inc., HoSt Holding B.V., HyGear Technology, IGC India Ltd., Iwatani Corporation, Kyushu Air Gas Co. Ltd., Nippon Gases Korea Co. Ltd., Praxair Services Inc., SIG Gases Berhad, Taiwan Airgas Co. Ltd., Woomjin Precision Gas Co. Ltd., Yingde Gases Group Company Limited
What Trends Are Expected to Dominate the Industrial Gases-Glass Industry Market in the Next 5 Years?
The ascendance of technology is a prominent trend capturing attention in the industrial gases-glass market. The primary focus of significant market players is on the development of sophisticated technologies within the industrial gas-glass sector. Case in point, in May 2022, SCHOTT, an American glass manufacturing company, innovated an environment-friendly glass production methodology that utilizes hydrogen. Their primary concern centers around hydrogen combustion-based electrification and green power. Both approaches necessitate electric power derived from renewable energy sources.
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Which Is The Largest Region In The Industrial Gases-Glass Industry Market?
North America was the largest region in the industrial gases-glass market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the industrial gases-glass industry market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Industrial Gases-Glass Industry Market?
2. What is the CAGR expected in the Industrial Gases-Glass Industry Market?
3. What Are the Key Innovations Transforming the Industrial Gases-Glass Industry Industry?
4. Which Region Is Leading the Industrial Gases-Glass Industry Market?
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