INDUSTRIAL GASES INDUSTRY:

Industrial gases are gases made in huge quantities for use in a variety of manufacturing and industrial activities. Their reactivity, inertness, and other physical features are well-known. Due to increased capital expenditure for construction activities and massive infrastructure projects planned in the region in the near future, manufacturers in the industrial gases market are likely to gain considerable potential by focusing on countries such as China and India in Asia Pacific. In the electronics sector, industrial gases including nitrogen trifluoride (NF3), sulphur hexafluoride (SF6), and silane (SiH4) are used to make and develop flat panel displays, compound semiconductors, and advanced components like silicon wafers and integrated circuits. Industrial gases are becoming increasingly important in the electronics sector for innovation and innovative product creation. Demand for industrial gases is likely to be driven by ongoing investments in large-scale infrastructure projects and rampant developments in the core industrial sector.

MAJOR INDUSTRIAL GASES:

• Nitrogen
• Oxygen
• Carbon Dioxide
• Argon
• Hydrogen
• Acetylene
• Helium

INDUSTRIAL GASES MARKET TRENDS:

Technological advancements in the use of various industrial gases have aided the market’s expansion in recent years. Liquid oxygen and hydrogen, for example, are employed as propellants in rockets that launch broadcast, communications, and weather satellites into space. Aside from that, prominent corporations are spending in research and development (R&D) to develop new and improved techniques for producing and distributing industrial gases all over the world. Moreover, various worldwide non-profit organisations, such as the European Industrial Gases Association, provide manufacturers with technical guidance on industrial gas production, transportation, storage, and consumption. They also promote uniformity in the industrial gas business in terms of safety, health, environmental, and technological requirements. However, the development of the coronavirus disease (COVID-19), which has caused a slowdown in commercial, transportation, and industrial activities, is affecting demand and output of industrial gases.

INDUSTRIAL GASES MARKET SIZE IN INDIA:

The industrial gases market in India is predicted to develop at a CAGR of more than 11%. Due to increased demand from the metal industry, notably steel. Furthermore, regular capacity expansions by automobile, refinery, and chemical businesses, as well as a rising number of innovative industrial gas applications, are driving up demand in the country. Furthermore, India’s industrial gases market is expected to benefit from further growth in the country’s healthcare sector and a rising food and beverage sector.

GLOBAL MARKET OUTLOOK:

The global industrial gases market is predicted to increase at a 6.8% compound annual growth rate (CAGR). The Asia Pacific area is the most important regional market, with a major share of the industry. Increased investment in the medical and healthcare sector, as well as a growing food and beverage industry, as well as the existence of a huge population, are supporting the market in the region. Within Asia Pacific, developing countries such as China and India are attempting to increase their production capacity in a variety of industries, including metals, oil and gas, construction, and healthcare, all of which generate high demand for industrial gases, and thus such regions are expected to provide the industry with increased growth opportunities. Various global firms are providing unique items to target customers in the medical industry. Portable oxygen concentrators, which may be used for individuals with chronic respiratory problems and in emergency medical kits, are becoming increasingly popular.

TOP PLAYERS WORLDWIDE:

• Praxair India Private Limited
• Linde Group (Germany)
• Air Products And Chemicals (US)
• INOX Air Products (India)
• Taiyo Nippon Sanso (Japan)
• Praxair (US)
• Air Liquide (Paris)
• Bombay Oxygen Corporation (India)
• The Southern Gas Ltd. (India)
• SICGIL India Limited