Global Industrial Gases for Plastic and Rubber Market Set for Strong Growth, Reaching USD 1.8 Billion by 2034

The global Industrial Gases for Plastic and Rubber Market is expected to grow significantly over the next decade, with market size projected to rise from USD 1.0 billion in 2024 to USD 1.8 billion by 2034. This represents a steady compound annual growth rate (CAGR) of 6.00%. The rise in demand is largely supported by expanding applications in healthcare, food and beverage processing, and the broader wave of industrialization sweeping across emerging economies.

Healthcare remains one of the strongest drivers, with increasing use of medical gases such as oxygen and nitrogen in hospitals and clinics. Global healthcare spending is on the rise, projected to grow by 5% annually, boosting demand for gases in medical procedures and infrastructure. Simultaneously, the food and beverage industry, growing at an annual rate of 8%, continues to adopt industrial gases for use in packaging and preservation, driven by consumer demand for processed and quality-controlled products.

Industrial expansion in developing markets is another factor pushing market growth. As manufacturing sectors and infrastructure projects increase, the need for gases used in welding, cutting, and processing rises. The International Monetary Fund has forecasted a 6% annual growth in industrial production across emerging markets, highlighting the sector's importance to future market expansion.

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Production volume is also on an upward path, expected to reach 1.8 million tons by 2034 from 1.2 million tons in 2024. However, while overall market value is rising at a faster rate, this points to increasing unit prices and a market shift toward value-added gas products. The Asia Pacific region is expected to lead volume growth with a 5% annual increase, supported by rapid industrial development and infrastructure spending.

On the pricing front, the market has experienced noticeable fluctuations. Costs of raw materials surged by 10% in 2024, largely due to global supply chain issues. Additionally, electricity prices rose by 7%, impacting manufacturing expenses. Regional price gaps are evident: Asia Pacific benefits from local production, resulting in lower prices, while Latin America struggles with higher costs due to tariffs and transportation challenges. Inflation and currency variations further added to price pressures, with global inflation rates rising by about 5%.

Despite these challenges, companies are adapting. The adoption of AI-based pricing systems has enabled businesses to adjust prices in real-time, leading to better profitability. Early adopters of such technology have seen a 4% increase in average selling prices and improved profit margins by nearly 2%.

However, the industry does face notable challenges. High production costs remain a barrier, with raw material and energy expenses straining profit margins. Efforts are being made to invest in more energy-efficient technologies, though the upfront investment is often considerable.

Environmental regulations also present a hurdle. Governments are enforcing stricter rules to reduce emissions, especially in Europe under initiatives like the EU Green Deal. Meeting these standards often requires costly changes in operations, and failure to comply can result in penalties.

Supply chain reliability continues to be a concern as well. Disruptions in global trade, driven by geopolitical tensions and policy changes, have led to delays and higher costs in securing industrial gases and necessary materials. The World Trade Organization noted a 15% rise in global trade disruptions in 2024 alone.

Still, the outlook for the Industrial Gases for Plastic and Rubber Market remains strong. Technological advancements, rising demand from key sectors, and digital transformation across industries are setting the stage for long-term growth. As more companies invest in cleaner production methods and adopt smarter pricing models, the market is expected to become more resilient and competitive in the coming years.

Regional Bifurcation of the Industrial Gases for Plastic and Rubber Market Includes:

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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The report further studies the key companies operating in the industry and their company profiles, product portfolio, expansion strategies, and strategic alliances such as mergers and acquisitions, collaborations, and joint ventures, among others. It also offers insights into their market reach and global position, along with highlights about their achievements and financial standings.

Industrial Gases Plastic Rubber Competitive Strategies & Notable Developments
Part 1: Top 10 Companies
Air Liquide

Linde Group

Air Products and Chemicals

Taiyo Nippon Sanso Corporation

Messer Group

Praxair

Airgas

Matheson Tri-Gas

Gulf Cryo

Yingde Gases

The report is an investigative study of the technological developments and product advancements, along with a regional analysis for each product and application offered in the market. The fundamental objective of the report is to give an insight into the workings of the Industrial Gases Plastic Rubbe industry. It provides an accurate and strategic outlook of the market with a thorough assessment of the segments and sub-segments of the market. It provides a panoramic view of the industry to offer a deeper understanding of the global industry.
Industrial Gases Plastic Rubber Market Segmentation
By Product Type

Oxygen

Nitrogen

Carbon Dioxide

Hydrogen

Others

By Application

Healthcare

Food and Beverage

Manufacturing

Electronics

Others

By End User

Industrial

Commercial

Residential

By Technology

Cryogenic

Non-Cryogenic

Others

By Distribution Channel

Direct Sales

Distributors

Online

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