What Has Been the Growth Trajectory of the Industrial Gases for Plastic & Rubber Industry Market?
The industrial gases for plastic & rubber industry market has seen considerable growth due to a variety of factors.
• The market size of industrial gases for the plastic & rubber industry has seen significant growth in recent years. The value is set to escalate from $7.24 billion in 2024 to $7.67 billion in 2025, boasting a compound annual growth rate (CAGR) of 5.9%. The growth witnessed in the historic period is due to factors such as the expansion of the plastic and rubber industries, enhanced demand for their products, emphasis on sustainable manufacturing processes, globalization of supply chains, development of specialty gases, and changing regulatory standards.
What Can Be Expected from the Industrial Gases for Plastic & Rubber Industry Market Size Evolve over the Forecast Period?
The Industrial Gases for Plastic & Rubber Industry market is expected to maintain its strong growth trajectory in upcoming years.
• The market for industrial gases used in the plastic & rubber industry anticipates robust expansion in the coming years. It is poised to reach a remarkable size of $10.27 billion by the year 2029, boasting a compound annual growth rate (CAGR) of 7.6%.
This anticipated growth in the specified period can be linked to several factors such as the emphasis on energy efficiency, need for high-performance polymers, surge in automotive production, focus on a circular economy, growing utilization of composites, a shift towards bio-based plastics, along with global packaging material trends. Throughout the forecasting period, key trends to look out for include the adoption of cryogenic gases for cooling and freezing purposes, increased use of hydrogen in the manufacture of polyethylene, attention to foam production with the help of industrial gases, the incorporation of automation and control systems, and custom-made gas solutions tailored for specific applications.
What Are the Critical Driver Fuelling The Industrial Gases for Plastic & Rubber Industry Market's Growth?
The advancement in infrastructure-related activities is anticipated to drive the development of the industrial gases for the plastic and rubber market. Constructing infrastructure is critical as it provides vital foundational services necessary for economic augmentation and enhances living standards. World governments are amplifying their investments on infrastructure development, thereby inflating the requirement for rubber and plastic parts, which are extensively utilized in such activities. For example, in February 2024, the UK's Infrastructure and Projects Authority stated that the planned investment of £164 billion in pivotal infrastructure and building projects for 2024/25 surpassed that of 2023/24, underlining vigorous economic expansion. Projected investments for the upcoming decade are forecasted to touch between £700 billion and £775 billion. Consequently, the surge in infrastructure-related activities is fueling the expansion of the industrial gases for the plastic & rubber market.
How Is The Industrial Gases for Plastic & Rubber Industry Market segmented?
The industrial gases for plastic & rubber industry market covered in this report is segmented –
1) By Gas Type: Nitrogen, Carbon Monoxide, Carbon Dioxide
2) By Storage And Distribution And Transportation: Cylinder And Packaged Gas Distribution, Merchant Liquid Distribution, Tonnage Distribution
3) By Process: Injection Molding, Extrusion, Foaming, Blow Molding
4) By End-Use: Plastic Industry, Rubber Industry
Subsegments:
1) By Nitrogen: Purity Levels, Form
2) By Carbon Monoxide: Purity Levels, Applications
3) By Carbon Dioxide: Purity Levels, Form, Applications
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What New Trends Are Influencing The Industrial Gases for Plastic & Rubber Industry Market?
Leading firms in the industry of industrial gases for plastic and rubber are zooming in on crafting novel tech solutions, like cryogenic cleaning systems, to increase productivity and mitigate environmental footprints in production processes. Cryogenic cleaning systems, which employ intensely low temperatures for cleansing surfaces and materials, are the focus of these innovations. Usually, this technique necessitates the application of cryogenic media, like liquid nitrogen or carbon dioxide, which is then converted into a gas that is directed towards the surface that requires cleaning. For example, in 2024, CRYOCLEAN Cleaning Technologies, a pioneer in inventive cleaning solutions based in the U.S., unveiled its latest cryogenic cleaning system. This progressive system banks on cryogenic technology as a safer and more effective substitution to conventional cleaning methods that typically involve severe chemicals and intensive labor. The CRYOCLEAN system provides superior cleaning quality while reducing environmental influences, making it a perfect option for a range of industrial uses.
Who Are the Key Players In The Industrial Gases for Plastic & Rubber Industry Market?
Major companies operating in the industrial gases for plastic & rubber industry market include:
• Air Products and Chemicals Inc.
• Airgas Inc.
• Messer Group
• Praxair Inc.
• Taiyo Nippon Sanso Corp.
• The Linde Group
• Universal Industrial Gases Inc.
• Yingde Gases Group Co. Ltd.
• Reliance Industries Limited
• Bharat Petroleum
• Gulf Cryo
• Rotarex
• Air Liquide S.A.
• Air Water Inc.
• Airtec Gases LLC
• Buzwair Industrial Gases Factories
• Chemours Company
• Cryogenic Gases Inc.
• DOW Chemical Company
• Iwatani Corporation
• Matheson Tri-Gas Inc.
• Showa Denko K.K.
What Is The Most Dominant Region In The Industrial Gases for Plastic & Rubber Industry Market?
Asia-Pacific was the largest region in the industrial gases for plastic & rubber industry market in 2024. The regions covered in the industrial gases for plastic & rubber industry market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
