Albany, NY -- (SBWIRE) -- 04/24/2018 -- Market Research Report Search Engine (MRRSE) recently announced the addition of a new research study to its comprehensive collection of research reports. The research report, titled "Global Market Study on Industrial Gases: Oxygen to Witness Substantial Growth During 2017 - 2025" offers a detailed analysis of the market providing insights into the market dynamics that are expected to influence the overall market positively in the next few years. Furthermore, the product segmentation, drivers, barriers, key geographical segments, and the competitive scenario of the global Industrial Gases Market have been elaborated upon in the research report.

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Expansion of various businesses coupled with a sustainable and efficient process is likely to ensure the growth of the global industrial gases market. Along with the increasing demand in the metal manufacturing industry, industrial gases are also witnessing rising demand from process industries such as oil and gas, food and beverages, energy, healthcare, electronics, and chemicals. Increasing environmental concerns and an introduction of stringent regulations regarding safety are also driving the growth of the global market for industrial gases.

As per the latest report by Persistence Market Research (PMR), the global market for industrial gases is likely to witness robust growth, registering a 7.7% CAGR between 2017 and 2025. The global industrial gases market is estimated to reach US$ 114.5 Bn in revenue by 2025 end.

Rise in Metal Manufacturing & Fabrication to Boost Demand for Industrial Gases

There has been an exponential increase in metal manufacturing in recent years. This has resulted in the increasing demand for industrial gases such as oxygen, nitrogen, hydrogen, and argon. New technologies being adopted by manufacturers for steel production is also driving the demand for oxygen. In order to increase the productivity and quality of metal, manufacturers are adopting the gas metal arc welding process.

Increasing investment in the automobile and aerospace industry is driving demand for metal fabrication services, thereby contributing towards the growth of industrial gases. The demand for high quality of oxygen is also growing in use in gas cutting to ensure a clean cut and high cutting speed. Argon is also witnessing an increasing demand for fabrication and manufacturing to use as a shield gas in welding processes.

Oxygen to Emerge as the Highly Preferred Gas in the Global Industrial Gases Market

Oxygen is one of the largest used gases across various industries including steel, chemical, paper and pulp, and other industries. In the recent years, oxygen is finding increasing application in treating sewage and effluent from various industries. Oxygen gas is being directly dissolved in the water to clean polluted lakes and rivers. Manufacturers in the global industrial gases market are using cryogenic distillation to produce oxygen commercially in large quantities.

Industrial Gases to Witness Rising Demand from Developing Countries

Emerging countries like India, China, and Indonesia are focusing towards increasing production capacity in industries such as metals, chemicals, food and beverages, construction and healthcare. Hence, the demand for industrial gases in these countries is likely to rise in the coming years. Governments in various countries in the Asia Pacific region are also taking initiatives to develop alternative sources of energy. This is fueling the growth of gasification plants that consume a substantial amount of industrial gases. Technological advances and use of Basic Oxygen Furnace (BOF) technology by major metal companies in China is also driving the consumption of industrial gases.

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The U.S to Emerge as a Major Contributor to the Growth of the Industrial Gases Market

A rapid rise in the automotive and construction sector in the U.S is resulting in an increased demand for industrial gases. Moreover, the consumption of industrial gases is also increasing in the petroleum and natural gas industry. Increased focus on producing cleaner-burning fuels by refineries is driving the need for a massive amount of hydrogen. Industrial gases companies in the U.S. are also investing on a large scale in research and development activities to develop improved and innovative methods to produce industrial gases.

Research Methodology

The report has been compiled by using a proven and tested research methodology. It includes both primary and secondary research. To arrive at the overall global market size, key market players, well-established products, industry developments, etc. the report also includes opinions provided by the industry experts, manufacturers, retailers, and distributors. The data collected for the report was also validated using various data sources. Advanced tools were used by researchers to obtain qualitative as well as quantitative data on the global market for industrial gases.

The Global Market for Industrial Gases: Segmentation

The global industrial gases market is segmented into the gas type, application, and region. Based on the gas type, the market is segmented into Oxygen, Acetylene, Nitrogen, Argon, Helium, Carbon Dioxide, and Hydrogen. On the basis of application, the segments include Metal Manufacturing and Fabrication, Healthcare, Automotive & Aerospace, Electronics, Energy, Oil & Gas, Food & Beverages, Pulp & Paper, Chemicals, Pharmaceutical & Biotechnology, and Other industries. Geographically, the global industrial gases market is segmented into Europe, Latin America, Asia Pacific Excluding Japan (APEJ), North America, and the Middle East and Africa.

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