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Industrial Gases-Glass Industry Market on Track for Strong Growth, Estimated to Grow at 9.9% CAGR Through 2029
Industrial Gases-Glass Industry Market
What Is the Expected CAGR for the Industrial Gases-Glass Industry Market Through 2025?
The market size of the industrial gases-glass industry has been experiencing robust growth in the past few years. It is projected to expand from $4.17 billion in 2024 to $4.55 billion in 2025, with a compound annual growth rate (CAGR) of 9.3%. The previous growth can be linked to the rise in glass manufacturing methods, production of float glass, the use of inert gas environments, control of environment and emissions, and improved efficiency of melting furnaces.
What's the Projected Size of the Global Industrial Gases-Glass Industry Market by 2029?
Anticipated to experience significant expansion in the upcoming years, the industrial gases-glass industry market is projected to reach a value of $6.64 billion by 2029, growing at a compound annual growth rate (CAGR) of 9.9%. This expected growth over the forecast period can be attributed to factors such as sustainable manufacturing practices, the production of specialty glass, a surge in glass recycling, the development of global infrastructure, and an increasing demand for flat glass. The forecast period is also marked by major trends which include the advancement of combustion technologies, solutions for cryogenic cooling, systems for gas control and monitoring, the integration of smart technologies in gas delivery systems, and collaborations with glass manufacturers.
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Top Growth Drivers in the Industrial Gases-Glass Industry Industry: What's Accelerating the Market?
The growth of the industrial gases-glass market is set to be fueled by the escalating use of glass in the construction sector. This sector encompasses manufacturing and trade activities linked to the creation, repair, renovation, and upkeep of infrastructures. Uses of glass in this sector include insulation, a structural element, an external glazing material, and cladding material. Benefits of using glass in construction include enabling up to 80% natural light transmission, sound insulation, and thermal insulation. For example, as stated by the Office for National Statistics, a governmental department in the UK, there was a year-on-year increase of 5.6% in 2022's construction output, compared to 2021, following a notable growth of 12.8% in 2021. Consequently, the expanding use of glass within the construction industry is stimulating the industrial gases-glass market's growth.
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What Trends Will Shape the Industrial Gases-Glass Industry Market Through 2029 and Beyond?
The rise of technology is a dominant trend making waves in the industrial gases-glass market. Leading market participants are focusing their energy on innovating advanced technologies within the industrial gas-glass sector. To illustrate, SCHOTT, a glass manufacturer from the US, pioneered an environmentally-friendly method of glass production using hydrogen, in May 2022. Their focus is primarily on electrification derived from hydrogen combustion and green electricity. Electricity sourced from renewable energy is fundamental to both approaches.
What Are the Main 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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Which Top Companies are Driving Growth in the Industrial Gases-Glass Industry Market?
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
Which Regions Will Dominate the Industrial Gases-Glass Industry Market Through 2029?
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.
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