New York, NY -- (SBWIRE) -- 10/18/2016 -- Group of gases, particularly manufactured for use in various industries are popularly known as industrial gases. These gases are formed at ambient temperature and pressure. Industrial gases are chemicals that can be either elemental gas or chemical compound, organic or inorganic in nature, having low molecular weight. Industrial gases are known by different names across different industries such as specialty gases, medical gases, fuel gases and refrigerant gases. Nitrogen, oxygen, carbon dioxide, argon, hydrogen, helium and acetylene are some of the common industrial gases used in the market. Also, variety of these gases and their mixture contained in gas cylinders are sold in the market. Balloon helium and medical oxygen are two well known industrial gases used by general population at large.
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Oil and gas, pharmaceuticals, petrochemicals, steelmaking, water, food, fertilizers, chemicals, power, mining, metals, environmental protection, medicine, biotechnology, nuclear power, electronics and aerospace are some of the major end-user industries for industrial gases. Use of industrial gases in these industries is very diverse. Industrial gases have variety of applications including aerosol propellants and for beer widget. They are also used by medical and food industries as medical gases and processing and packaging gases for food. In terms of market size, chemicals and refining-related industrial processing market leads the global industrial gases market. It is followed by metal manufacturing and fabrication industry.
Asia-Pacific has the largest market share for industrial gases, followed by North America and Europe. Demand for industrial gases in the Asia-Pacific market is expected to dominate the global market in the coming future due to increasing domestic consumption in the developing market of India and China. Crude oil contains high level of sulfur which is removed for further use. The sulfur containt from the crude oil can be removed by the help of industrial gas such as hydrogen deoxo. Increasing global crude oil demand may increase demand for industrial gas providing ample growth opportunity for the global industrial gases market.
Increasing international and domestic trade may boom the industrial sector in the developing countries such as India and Brazil. Industries such as transportation, food and beverages, metal fabrication and chemical are expected to grow in the coming future. This might provide ample growth opportunity for the global industrial gases market. Additionally, increasing industrialization in the developing countries of Asia-Pacific and Middle East is expected to provide ample growth opportunity for the global industrial gases market. Also, increasing urbanization may act as one of the major drivers for the growth of the market in developing countries. Increasing urbanization is expected to increase demand for the utilities and process industries such as oil and gas, energy, and petroleum. Strict government regulation to meet environment regulation might hamper the growth of global industrial gases market but to a low extent.
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Global industrial gases market is dominated by few major players in the market holding more than two third market share in 2012. L'Air Liquide S.A dominated the global industrial gases market with more than one fifth market share. Other major players in the global industrial gases market are Air Products and Chemicals Inc., Linde AG, Praxair Inc., Taiyo Nippon Sanso Corp., Airgas Inc., Matheson tri-Gas Inc. and Air Gas Inc.
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