Press release
Welding Gas Market Highest Growth During 2017-2024
Welding gas are inert or semi inert in nature and provide protection to welded area from oxygen and water vapor. The product is primarily used in various processes including metal arc welding (MIG), tungsten arc welding (TIG), flux cored, laser and other applications such as oxy-fuel tech, manual metal arc welding, etc.
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The nature of gas determines the mechanical properties of the weld, depth of weld penetrating the metal welded and the characteristics of the welding arc. The product is used in pure form such as oxygen, carbon dioxide, argon, helium, hydrogen, nitrogen, etc. They are also used in binary form, the mixture of two, such as argon-carbon dioxide, argon-oxygen, argon-helium, laser gases and in ternary form, mixture of three such as argon-helium-carbon dioxide, etc.
Building and construction industry is deemed to be a profitable quotient for welding gas market. Growing population in developing economies has led to an increase in demand for residential buildings. Rising construction activities in residential as well in commercial sector pertaining to rapid urbanization and growth of urban population is likely to drive the product market during the forecast time period.
Favorable government initiatives, for instance, Indian government’s proposed programs such as Pradhan Mantri Gramin Awaas Yojana, Jawaharlal Nehru National Urban Renewal Mission (JnNURM), etc. for urban as well as rural infrastructure development will propel the demand of metal fabricated products which will further augment the growth of the product market.
The use of product in metal fabrication & manufacturing sectors will spur the demand of welding gases in upcoming years. The product protects heated and molten metal from damaging effects of air by creating an inert shield during welding. The demand of metal products in various industries such as automobile & transportation, building & construction, oil & gas, etc. will contribute to the development of product market in coming years. In 2016, automobile & transportation sector projected revenue over USD 2.5 billion and is likely to increase at a healthy rate by the end of 2024, which will spur product demand in coming years.
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Asia pacific will emerge as a fast-growing region pertaining to increasing industrial development along with rising automotive and construction industries. Rapid urbanization coupled with increasing disposable income will increase demand for automobiles which will further augment the product industry.
The key market players include Air Products and Chemicals Inc., Gulf Cryo, Praxair Technology Inc., Taiyo Nippo Sanso Corporation, Air Liquide SA., Southern Industrial Gas Sdn Bhd, Iwatani Malaysia Sdn Bhd, Messer Group GmbH, Ellenbarrie Industrial Gases Ltd., Epoxy Oilserv Nigeria Ltd, Orion Gases, American Welding & Gas, Koatsu Gas Kogyo Co. Ltd., Tokyo Gas Chemical Co. Ltd, Asia Technical Gas Co. Pte Ltd and others.
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