Press release
Industrial Gases Glass Market Set to Reach USD 1.3 Billion by 2034, Driven by Construction Growth and Technological Innovation
Industrial Gases Glass Market
This growth is being driven largely by rapid urbanization and expanding infrastructure projects across emerging economies, particularly in Asia Pacific and the Middle East & Africa. These regions are witnessing a surge in large-scale construction developments, which in turn are boosting demand for flat glass-a key end-use segment for industrial gases. The global construction industry is projected to grow at an annual rate of 4.5%, directly supporting the use of industrial gases in various glass production processes.
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In terms of market volume, production of industrial gases is expected to increase from 1.5 million tons in 2024 to 2.3 million tons by 2034. Although the growth in volume reflects a moderate CAGR of 4.5%, the market's higher value CAGR indicates a move toward higher-value gas products and more efficient production methods. Asia Pacific leads in both volume and growth rate, thanks to government-backed infrastructure projects and innovations in glass processing technology.
Price trends in the Industrial Gases Glass Market have been influenced by a combination of rising energy costs, feedstock availability, and regional policies. In Q1 2024, average spot prices for industrial gases increased by 7%, according to industry data from ICIS. While Asia Pacific benefits from local production advantages and subsidies, Europe faces elevated prices due to strict environmental regulations and higher energy expenditures. Additionally, companies are increasingly adopting AI-based dynamic pricing systems to optimize their margins. These systems have shown early success, with some businesses reporting up to a 3% increase in average selling prices and a 2% improvement in profitability.
Key drivers of the market include the growing demand for flat glass, which is essential for energy-efficient buildings and smart city projects. Flat glass consumption is increasing by about 5% annually, with strong momentum in sectors such as residential construction, commercial real estate, and automotive manufacturing. Technological improvements in glass manufacturing-such as new coating methods and automated production systems-are further enhancing product quality and reducing production costs. Major companies, including Air Products and Chemicals Inc., are actively investing in research and development to lead innovation in this space.
Despite the positive outlook, the market faces notable challenges. The high cost of production-driven by energy usage and raw materials-poses a significant hurdle for manufacturers. Environmental regulations also present a major challenge, especially in Europe and North America. For instance, the European Union's Emission Trading System (ETS) requires companies to purchase carbon credits, which has increased production costs by approximately 10%. Meeting these environmental standards often requires additional investment in cleaner technologies, adding to operational costs and complexity.
Nonetheless, ongoing investments and strategic developments are reshaping the market. Companies like Air Liquide are expanding their focus on green hydrogen technologies, while Linde PLC is increasing its production footprint with new facilities, such as the one recently launched in China. These initiatives reflect a broader trend toward sustainable practices and long-term value creation.
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Industrial Gases Glass Competitive Strategies & Notable Developments
Part 1: Top 10 Companies
Linde PLC
Air Liquide
Air Products and Chemicals Inc.
Praxair Inc.
Messer Group
Taiyo Nippon Sanso Corporation
Gulf Cryo
SOL Group
Iwatani Corporation
Matheson Tri-Gas
Industrial Gases Glass Market Segmentation
By Product Type
Oxygen
Nitrogen
Hydrogen
Argon
Others
By Application
Flat Glass Production
Container Glass Production
Specialty Glass Production
Others
By End User
Construction Industry
Automotive Industry
Electronics Industry
Others
By Technology
Air Separation
Pressure Swing Adsorption
Membrane Separation
By Distribution Channel
Direct Sales
Distributors
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