Steady growth in metal manufacturing and fabrication is likely to provide an impetus to growth during the assessment period.
Albany, NY -- (SBWIRE) -- 06/14/2018 -- The industrial gases market is likely to grow at a CAGR of 7.7% during 2017-2025, and reach a valuation of over US$ 114 Bn by the end of 2025, according to a new research study added to the comprehensive repository of Market Research Reports Search Engine (MRRSE). According to the study titled, "Global Market Study on Industrial Gases: Oxygen to Witness Substantial Growth During 2017 – 2025", the industrial gases market is likely to witness growth on account of multi-pronged factors.
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According to the study, the industrial gases market is likely to witness growth on account of a number of factors. Considering the nature of the product, the industrial gases market continues to be heavily impacted by the broader trends in economy. Industrial gases are widely used across a range of end-use industries, including but not limited to metal manufacturing and fabrication. According to the study, steady growth in metal manufacturing and fabrication is likely to provide an impetus to growth during the assessment period.
The key industrial gases that are currently in demand in the market include oxygen, hydrogen, nitrogen, and argon. The adoption of new technologies in steel production are also likely to provide an impetus to the growth in demand during the assessment period. The demand for industrial gases will receive a push from the automotive industry, as passenger car sales have witnessed a spike in the recent past.
According to the study, among the various industrial gases available in the market, oxygen is likely to remain the preferred gas, on account of its wide-ranging applications in treating sewage. It is also widely used in steel, paper, pulp, and other industries, due to which its demand has witnessed a spike in the recent past.
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The demand for industrial gases is witnessing a spike in developing countries, notably China, India, and Southeast Asia, on account of growth in manufacturing activity in these markets. Many developing countries are positioning themselves as centers of growth, which has led to significant growth opportunities. It is highly likely that demand for industrial gases will witness an increase during the assessment period.
The research study also profiles the product and business strategies of some of the leading players in the market. According to the study, some of the leading players in the market include ir Gass and Chemicals Inc., Air Liquide S.A., The Linde Group, Ellenbarrie Industrial Gases Ltd., Praxair Inc., India Glycols Ltd., Bhuruka Gases Ltd., The Southern Gas Ltd., Tripti Gases Pvt. Limited, Matheson Tri-Gas, Inc., SICGIL India Limited, Messer Group GmbH, Abdullah Hashim Industrial Gases & Equipment Co. Ltd, Southern Industrial Gas Sdn Bhd, Bristol Gases – Concorde Corodex Group, Dubai Industrial Gases, Buzwair Industrial Gases Factory, Gulf Cryo, Yateem Oxygen, and National Industrial Gas Plants – Mohammed Hamad Al Mana Group
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