Compressed Natural Gas Global Market Report 2023 – By Type (Non-Associated Gas, Associated Gas, Unconventional Sources), By Product Type (Dedicated Fuel, Bi-Fuel, Dual Fuel), By Application (Light Passenger Vehicles, Medium or Heavy Duty Vehicles, Other Applications) – Market Size, Trends, And Global Forecast 2023-2032

Benzene refers to an aromatic hydrocarbon produced from cracked gasoline. It is highly flammable and has a sweet odor. Benzene is manufactured naturally by volcanoes and forest fires. The main manufacturing processes of benzene are pyrolysis steam cracking of naphtha, catalytic reforming of naphtha, toluene hydrodealkylation, toluene disproportionation, and biomass. toluene disproportionation to benzene from less valuable toluene. These are derived from ethylbenzene, cumene, alkylbenzene, aniline, chlorobenzene, cyclohexane, maleic anhydride, and other derivatives. Benzene is applied in plastics, resins, synthetic fibers, and rubber lubricants. The global benzene market is segmented - 1) By Manufacturing Process: Pyrolysis Steam Cracking of Naphtha, Catalytic Reforming of Naphtha, Toluene Hydrodealkylation, Toluene Disproportionation, From Biomass 2) By Derivative: Ethylbenzene, Cumene, Alkylbenzene, Aniline, Chlorobenzene, Cyclohexane, Maleic Anhydride, Other Derivatives 3) By Application: Plastics, Resins, Synthetic Fibers, Rubber Lubricants The global benzene market size will grow from $65.57 billion in 2021 to $71.79 billion in 2022 at a compound annual growth rate (CAGR) of 9.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global benzene is expected to grow to $73.03 billion in 2026 at a CAGR of 0.4%. The increased use of styrene to drive the benzene market The benzene derivative ethylbenzene is majorly used in the manufacturing of styrene. Styrene is used in the production of various products, such as styrene-acrylonitrile (SAN), acrylonitrile-butadiene-styrene (ABS), polystyrene, styrene-butadiene elastomers, latexes, unsaturated polyester resins, among others. There is an increased demand for styrene-based polymers and copolymers in the automotive industry due to their lightweight nature. For instance, according to the American Chemistry Council (ACC), the fuel economy of a vehicle can improve by 6–8% by reducing the weight of a vehicle by 10%. Usage of plastics like styrene can reduce the weight of vehicles, thereby improving fuel economy. The use of styrene has also benefited manufacturers by reducing vehicle assembly time and costs. These advantages of the usage of styrene-based polymers and copolymers, especially in the automotive industry, are expected to contribute to the benzene market growth. Major players in the benzene market are Ameriya Oil Ref. Co., Angarsk Petrochemical, Alexandria National Refining, and Petrochemicals Company (ANRPC), Arsol Aromatics GmbH & Co. KG, Atyrau Oil & Gas, Azerkhimija, BASF SE, Borealis AG, Bp PLC., and Braskem. Stringent safety regulations associated with the manufacture and transportation of benzene were a significant market restraint. Benzene is highly inflammable, toxic, and hazardous when exposed to extreme temperatures and pressures. Companies in this market should invest in equipment, technologies, and processes to limit the toxic levels and chemical concentrations as they may harm the environment and population. Humans, when exposed to benzene in the air for a certain amount of time, lose their lives. In order to provide a safe environment, government agencies limit the amount of benzene that can be released into the environment. For instance, the EPA (Environmental Protection Agency) has set the maximum permissible level of benzene in drinking water at 5 ppb (per billion parts of air). These regulations have increased the operating costs of companies in this industry, thus restricting their growth. Many companies in the benzene market are focusing on research and developmental activities to discover new technologies and processes for the production of benzene. The technologies developed are expected to help curb environmental issues. For instance, Reliance Industries Limited entered into a joint venture with the Indian Institute of Petroleum (IIP), Dehradun, to develop a technology that restricts benzene content in the gasoline pool to address health and environmental concerns. The increase in such technological advances to reduce emissions will gain traction and contribute to the growth of the market. In June 2020, Ineos, a UK-based chemicals company acquired the chemical unit (aromatics and acetyls business) of BP plc for $5 billion along with BP's Cooper River petrochemical plant in South Carolina among other facilities. This will enhance the production capacity of aromatics to cater to the market demand and enables operations synergies. BP plc is a UK-based oil and gas company. Asia-Pacific was the largest region in the benzene market in 2022. North America was the second-largest region in the benzene market report. The regions covered in the benzene market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the benzene market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, the UK, the USA, and Australia. The benzene market consists of the sales of benzene used as an intermediary chemical in the production of plastics, resins, dyes, detergents, drugs, pesticides, nylons, and synthetic fibers. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The benzene market research report is one of a series of new reports from The Business Research Company that provides benzene market statistics, including benzene industry global market size, regional shares, competitors with a benzene market share, detailed benzene market segments, market trends and opportunities, and any further data you may need to thrive in the benzene industry. This benzene market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Benzene petrochemical refers to an aromatic hydrocarbon produced from cracked gasoline. It is highly flammable and has a sweet odor. Benzene is manufactured naturally by volcanoes and forest fires. The main manufacturing processes of benzene include pyrolysis steam cracking of naphtha, catalytic reforming of naphtha, toluene hydrodealkylation, toluene disproportionation, and biomass. Toluene disproportionation is referred to as a trans-alkylation reaction that converts toluene into xylene and benzene. The reaction occurs in the presence of hydrogen, on a bed of nickel-mordenite catalyst. The major derivatives from which benzene is derived are ethylbenzene, cumene, alkylbenzene, aniline, chlorobenzene, cyclohexane, maleic anhydride, and other derivatives. The various applications of benzene include plastics, resins, synthetic fibers, and rubber lubricants. The global benzene-petrochemicals market is segmented - 1) By Manufacturing Process: Pyrolysis Steam Cracking of Naphtha, Catalytic Reforming of Naphtha, Toluene Hydrodealkylation, Toluene Disproportionation, From Biomass 2) By Derivative: Ethylbenzene, Cumene, Alkylbenzene, Aniline, Chlorobenzene, Cyclohexane, Maleic Anhydride, Other Derivatives 3) By Application: Plastics, Resins, Synthetic Fibers, Rubber Lubricants The global benzene-petrochemicals market size will grow from $72.41 billion in 2022 to $73.63 billion in 2023 at a compound annual growth rate (CAGR) of 1.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global benzene-petrochemicals is expected to grow from $79.56 billion in 2027 at a CAGR of 2.0%. The increased use of styrene to drive the benzene-petrochemicals market. The benzene derivative ethylbenzene is majorly used in the manufacturing of styrene. Styrene is used in the production of various products, such as styrene-acrylonitrile (SAN), acrylonitrile-butadiene-styrene (ABS), polystyrene, styrene-butadiene elastomers, latexes, unsaturated polyester resins, among others. There is an increased demand for styrene-based polymers and copolymers in the automotive industry due to their lightweight nature. For instance, according to the American Chemistry Council (ACC), the fuel economy of a vehicle can improve by 6–8% by reducing the weight of a vehicle by 10%. Usage of plastics like styrene can reduce the weight of vehicles, thereby improving fuel economy. The use of styrene has also benefited manufacturers by reducing vehicle assembly time and costs. These advantages of the usage of styrene-based polymers and copolymers, especially in the automotive industry, are expected to contribute to the growth of the benzene-petrochemicals market. Major players in the benzene-petrochemicals market report are Ameriya Oil Ref. Co., Angarsk Petrochemical, Alexandria National Refining, and Petrochemicals Company (ANRPC), Arsol Aromatics GmbH & Co. KG, Atyrau Oil & Gas, Azerkhimija, BASF SE, Borealis AG, Bp PLC., and Braskem. Stringent safety regulations associated with the manufacturing and transportation of benzene were a major constraint on the market. Benzene is highly inflammable, toxic, and hazardous when exposed to extreme temperatures and pressures. Companies in this market should invest in equipment, technologies, and processes to limit the toxic levels and chemical concentrations as they may harm the environment and population. Humans, when exposed to benzene in the air for a certain amount of time, lose their lives. In order to provide a safe environment, government agencies limit the amount of benzene that can be released into the environment. For instance, the EPA (Environmental Protection Agency) has set the maximum permissible level of benzene in drinking water at 5 ppb (per billion parts of air). These regulations have increased the operating costs of companies in this industry, thus restricting their growth. Many companies in the benzene market are focusing on research and developmental activities to discover new technologies and processes for the production of benzene. The technologies developed are expected to help curb environmental issues. For instance, in January 2021, Covestro, a German materials company received its first delivery of 2,000 metric tons of sustainable benzene from Total, a France-based petroleum company. The delivery enables Covestro to contribute to the circular economy. In addition, in May 2020, BioBTX, a Netherlands-based circular chemistry technology developer announced its plan to build the world’s first commercial production facility for sustainable aromatics such as benzene. The increase in such technological advances to reduce emissions will gain traction and contribute to the growth of the benzene-petrochemicals industry. In June 2020, Ineos, a UK-based chemicals company acquired chemical unit (aromatics and acetyls business) of BP plc for $5 billion along with its BP's Cooper River petrochemical plant in South Carolina among other facilities. This will enhance the production capacity of aromatics to cater to the market demand and enables operations synergies. BP plc is a UK-based oil and gas company. Asia-Pacific was the largest region in the benzene-petrochemicals market in 2022. Middle East was the second-largest region in the global benzene-petrochemicals market share. The regions covered in the benzene-petrochemicals market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the benzene-petrochemicals market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, the UK, the USA, and Australia. The benzene-petrochemicals market consists of the sales of benzene petrochemicals used as an intermediary chemical in the production of plastics, resins, dyes, detergents, drugs, pesticides, nylons, and synthetic fibers. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The benzene-petrochemicals market research report is one of a series of new reports from The Business Research Company that provides benzene-petrochemicals market statistics, including benzene-petrochemicals industry global market size, regional shares, competitors with a benzene-petrochemicals market share, detailed benzene-petrochemicals market segments, market trends and opportunities, and any further data you may need to thrive in the benzene-petrochemicals industry. This benzene-petrochemicals market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Oil and Gas extraction is the exploration and production of petroleum and natural gas from wells. The main types are oil & gas upstream activities, oil downstream products. Oil and gas upstream activities include exploration activities, such as creating geological surveys and obtaining land rights and production activities, such as onshore and offshore drilling. The various drilling types include offshore; onshore that are used for residential, commercial, institutions and other applications. The global oil and gas market is segmented - 1) By Type: Oil & Gas Upstream Activities, Oil Downstream Products 2) By Drilling Type: Offshore, Onshore 3) By Application: Residential, Commercial, Institutions, Other Applications Subsegments Covered: Crude Oil, Natural Gas, Oil And Gas Wells Drilling Services, Oil And Gas Supporting Activities, Refined Petroleum Products, Asphalt, Lubricating Oil And Grease The global oil and gas market size grew from $6,989.65 billion in 2022 to $7,330.80 billion in 2023 at a compound annual growth rate (CAGR) of 4.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global oil and gas market is expected to grow to $8,670.91 billion in 2027 at a CAGR of 4.3%. Low interest rates in most developed countries will positively impact the oil and gas industry during the forecast period. For instance, in March 2020, UK decreased the interest rates to 0,1% which was the lowest ever. Furthermore, other central banks of countries such as North Macedonia, South Africa, Malaysia, Kenya, Argentina, Ukraine, Sri Lanka, and Azerbaijan, as well as Turkey also decreased their interest rates in 2020. Major companies in the oil and gas market include Royal Dutch Shell, BP plc, Saudi Aramco, Exxon Mobil, Gazprom PAO, Chevron, Iraq Ministry of Oil, PJSC Lukoil, Total SA, and Rosneft. Oil price volatility is likely to have a negative impact on the market as significant decline and increase in oil prices negatively impacts the government and consumer spending. The decline in oil prices is having a negative impact on government spending in countries such as Saudi Arabia, Nigeria and the UAE (United Arab Emirates) which are largely dependent on revenues generated through crude oil exports; whereas significant increase in oil prices had resulted in rising inflation, current account deficit and fiscal deficit in countries such as India and China, which predominantly import oil. For instance, the Saudi government is expected to cut down its spending from 1.05 trillion riyals ($280 billion) in 2019 to 1.02 trillion riyals ($270 billion) in 2020, to 955 billion riyals ($255 billion) by 2022, due to significant decline in revenues generated from oil exports, thereby affecting the market. This high volatility in oil prices is expected to negatively impact the market going forward. Major companies in the oil and gas industry are looking into big data analytics and artificial intelligence (AI) to enhance decisions making abilities and thus drive profits. The companies in this industry gather huge amounts of raw data relating to the working of refineries, pipelines and other infrastructure through a large number of sensors placed across the oil rig. Using big data analytics, the companies can detect patterns which can allow them to quickly react to unwanted changes or potential defects, thus saving costs. AI allows the companies to take better drilling and operational decisions. Companies such as ExxonMobil and Shell have been increasingly investing in AI technology to have a centralized method of data management and support data integration across multiple applications. Other companies such as Sinopec, a Chinese chemical and petroleum corporation, has announced its decision to construct 10 intelligent centers to help in reducing operation costs by 20%. Asia-Pacific was the largest region in the oil and gas market share in 2022. North America was the second largest region in the oil and gas market. The regions covered in the global oil and gas market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the oil and gas market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela and Vietnam. The oil and gas market consists of sales of crude oil, natural gas, refined petroleum products and asphalt, lubricating oil and grease. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The oil and gas market research report is one of a series of new reports from The Business Research Company that provides oil and gas market statistics, including oil and gas industry global market size, regional shares, competitors with a oil and gas market share, detailed oil and gas market segments, market trends and opportunities, and any further data you may need to thrive in the oil and gas industry. This oil and gas market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Chemical compounds are substances that are produced based on the transformation of organic and inorganic raw materials by a chemical process and the formulation of products. Chemicals have characteristics such as flammability, toxicity, acidity, reactivity, and heat of combustion. The main types of chemicals are general chemical products, printing inks, toiletries, soap and cleaning compounds, adhesives, paints and coatings, pesticide and other types of agricultural chemicals, chemical fertilizers, synthetic rubber and fibers, plastic material and resins, ethyl alcohol, and other basic types of organic chemical, and other types of basic inorganic chemical, synthetic dye, and pigment, industrial gas, and petrochemicals. Printing ink is ink used in printing and contains a pigment or pigments of the required color mixed with oil or varnish. The types of intermediate chemicals are methanol, ethylene oxide, and propylene oxide. The end-users involved are pharmaceuticals, agrochemicals, water treatment, construction, paints and dyes, oil and gas, rubber chemicals, surfactants, personal care, and other end-users. The global chemicals market is segmented - 1) By Type: General Chemical Product, Printing Inks, Toiletries, Soap and Cleaning Compounds, Adhesives, Paints and Coatings, Pesticide and Other Agricultural Chemicals, Chemical Fertilizers, Synthetic Rubber and Fibers, Plastic Material and Resins, Ethyl Alcohol and Other Basic Organic Chemical, Other Basic Inorganic Chemical, Synthetic Dye and Pigment, Industrial Gas, Petrochemicals 2) By Type of Intermediate Chemicals: Methanol, Ethylene Oxide, Propylene Oxide 3) By End User: Pharmaceuticals, Agrochemicals, Water Treatment, Construction, Paints and Dyes, Oil & Gas, Rubber Chemicals, Surfactants, Personal Care, Other End-Users Subsegments Covered: Oil-Based Printing Inks, Solvent-Based Printing Inks, Water-Based Printing Inks, Lotions (Including Sunscreens), Hair Preparations, Face Creams, Perfumes, Shaving Preparations, Other Cosmetic Preparations, Soap and Other Detergents, Surface Active Agents, Polish and Other Sanitation Goods, Water-Based Adhesives, Solvent-Based Adhesives, Hot-Melt-Based Adhesives, Reactive & Other Adhesives, Water Borne Coatings, Solvent Based Coatings, Powder Coatings, Other Paints and Coatings, Herbicides, Insecticides, Fungicides, Other Pesticide and Other Agricultural Chemicals, Nitrogen Fertilizer, Phosphate Fertilizer, Potash Fertilizer, Synthetic Fibers, Styrene Butadiene Rubber (SBR), Polybutadiene (BR), Ethylene Propylene (EPDM), Other Synthetic Rubber and Fibers, Polypropylene-Plastic Material and Resins, High-Density Polyethylene, Poly-Vinyl Chloride, Polyethylene Terephthalate, Polyurethane, Low-Density Polyethylene, Polystyrene-Plastic Material and Resins, Other Plastic Material and Resins, Synthetic Sweeteners, Plasticizers, Ethyl Alcohol, Silicone (except Resins), Fatty Acids, Gum and Wood Chemicals Synthetic Dye, Synthetic Pigments, Nitrogen, Oxygen, Carbon Dioxide, Hydrogen, Other Industrial Gas, Ethylene-Petrochemicals, Propylene-Petrochemicals, Benzene-Petrochemicals, Xylene, Styrene-Petrochemicals, Toluene, Cumene, Other Petrochemicals. The global chemicals market size will grow from $4700.13 billion in 2022 to $5079.29 billion in 2023 at a compound annual growth rate (CAGR) of 8.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of chemicals is expected to grow to $6851.59 billion in 2027 at a CAGR of 7.8%. Interest rates were low in most developed countries during this period. This positively impacted the growth of the chemicals market. For instance, in March 2020, the Bank of England, a UK-based central bank, reduced interest rates to 0.1%, the lowest level ever, as a measure of protest against COVID-19. These low-interest rates encouraged borrowing and increased the flow of money for investment. This allowed chemical companies to borrow money for process improvements, thus driving the market during the historic period. Major companies in the chemicals market include JXTG Holdings Inc., Sinopec Limited, BASF SE, Procter & Gamble, Unilever plc, L'Oreal SA, Dow Inc., Saudi Basic Industries Corporation (SABIC), Mitsubishi Chemical Holdings Corp, and Guardian Industries, LLC. Rising costs had a negative impact on the growth of the industrial gas market during the forecast period. This rise in raw material costs resulted in higher manufacturing costs, thus decreasing the investments available for research and development of new products. Additionally, companies invested heavily in marketing their products due to intense competition in the market. Rising trucking, railroad, dry-bulk, and air-freight rates also negatively impacted the market. This rise in operating costs increased the pressure on companies to protect margins while maintaining the quality of their products. Chemical companies are increasingly adopting sustainable and eco-friendly processes to eliminate the negative impact of chemical manufacturing on the environment. Evolution in technology and chemical sciences enables chemical companies to utilize alternative fuels to produce chemical products. They are using naturally available carbon dioxide to produce fuels, industrial products, and other substances. For instance, Akzo Nobel N.V., a chemicals and coatings giant, is planning to make a seven-figure investment in Green Lizard Technologies’ patented process to make surfactants from plants rather than from oils. Asia-Pacific was the largest region in the chemicals market in 2022. North America was the second-largest region in the chemicals market share. The regions covered in the chemicals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the chemicals market report are Argentina, Australia, Austria, Bangladesh, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Iran, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, Ukraine, USA, and Vietnam. The chemicals market consists of the sales of petrochemicals, industrial gas, ethyl alcohol, organic chemicals and inorganic chemicals, resins, synthetic rubber, and artificial and synthetic fibers and filaments, pesticides, fertilizers, and other agricultural chemicals. The chemicals industry establishments produce a variety of chemical products by processing raw materials such as air, water, natural gas, oil, metals and minerals. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The chemicals market research report is one of a series of new reports from The Business Research Company that provides chemicals market statistics, including chemicals industry global market size, regional shares, competitors with a chemicals market share, detailed chemicals market segments, market trends and opportunities, and any further data you may need to thrive in the chemicals industry. This chemicals market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Natural gas refers to a natural mixture of gaseous hydrocarbons consisting of methane in addition to various smaller amounts of other higher alkanes. In combined heat and power systems, natural gas is used as a fuel.It is also used for heating and generating electricity. The major types of natural gas are transportation, industrial, electric power, and other gases. Natural gas transportation refers to the numerous means by which natural gas is transported from one area to another. The major sources of natural gas are associated, non-associated, and unconventional sources. Natural gas is used by several end-users, such as light-duty vehicles, medium- or heavy-duty buses, and medium- or heavy-duty trucks. The global natural gas market is segmented – 1) By Type: Transport, Industrial, Electric Power, and Other Types 2) By Source: Associated Gas, Non Associated Gas, Unconventional Sources 3) By End User: Light Duty Vehicles, Medium Or Heavy Duty Buses, Medium Or Heavy Duty Trucks" The global natural gas market size will grow from $955.74 billion in 2022 to $1025.99 billion in 2023 at a compound annual growth rate (CAGR) of 7.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of natural gas is expected to grow from $1372.08 billion in 2027 at a CAGR of 7.5%. The growth in the natural gas market is due to increased global economic activity, an increase in usage of electricity,and refined petroleum from developing nations is expected to drive the market in the future. An increase in the usage of the electric power sector is expected to propel the growth of the natural gas market going forward. The electric power sector refers to electricity plants that provide services through electricity generation, transmission, and distribution. Natural gas is used in steam turbines and gas turbines to generate electricity. This is used to generate electricity for a cheaper cost. For instance according to the U.S electricity information administration, a US-based government agency, in the year 2021, the United States used about 30.28 trillion cubic feet (Tcf) of natural gas which is about 37% of total natural gas used for the generation of electricity. This is used to cover 32% of the total electricity used in the US. Therefore, an increase in usage of the electric power sector is driving the growth of the natural gas market. Major players in the natural gas market include PetroChina Co. Ltd., Husky Energy Inc., NGL Energy Partners LP, Devon Energy Corp, and VNG - Verbundnetz Gas Aktiengesellschaft. Crude oil and natural gas extraction companies are making significant investments in renewable sources of power for the sustainable extraction of crude oil and natural gas from oil fields. Crude oil and natural gas production are energy-intensive and renewable technologies like solar, wind, biomass, and geothermal are being used in producing crude oil and natural gas at lower costs and lower emissions, which are the major trends witnessed in the global natural gas market. In October 2022, BP PLC, a UK-based multinational oil and gas company, acquired Archaea Energy for an amount of $3.3 billion. With this transaction, BP's strategic bioenergy transition growth engine would expand more quickly. By acquiring Archaea, bp would strengthen its position in the US biogas market, improving its capacity to support customers' decarbonization objectives and advancing its ambition to lower the typical carbon intensity of the energy products it sells. Archaea Energy is a US-based biogas company and one of the largest renewable natural gas (“RNG”) producers in the country. Asia-Pacific was the largest region in the natural gas market in 2022. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the natural gas market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam. The natural gas market consists of sales of methane, ethane, butane, and propane. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The natural gas market research report is one of a series of new reports from The Business Research Company that provides natural gas market statistics, including natural gas industry global market size, regional shares, competitors with a natural gas market share, detailed natural gas market segments, market trends and opportunities, and any further data you may need to thrive in the natural gas industry. This natural gas market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Industrial and commercial natural gas distribution refers to a system that is used to operate gas distribution systems. Industrial and commercial natural gas refers to natural gas used for industrial and commercial purposes such as steam generation, metal casting, metal tempering, electricity generation, and as a fuel for commercial vehicles. The various sources include associated gas, non associated gas and unconventional sources, which are used by various end users including light duty vehicles, medium or heavy duty buses, medium or heavy duty trucks. The global industrial and commercial natural gas distribution market is segmented – 1) By Type: Industrial Natural Gas Distribution, and Commercial Natural Gas Distribution 2) By Source: Associated Gas, Non Associated Gas, Unconventional Sources 3) By End User: Light Duty Vehicles, Medium Or Heavy Duty Buses, Medium Or Heavy Duty Trucks" The global industrial and commercial natural gas distribution market size will grow from $719.65 billion in 2022 to $761.97 billion in 2023 at a compound annual growth rate (CAGR) of 5.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of industrial and commercial natural gas distribution is expected to grow from $1053.9 billion in 2027 at a CAGR of 8.4%. The growth in the industrial and commercial natural gas distribution market is due to the higher disposable income, and rising demand from commercial customers. The rising demand from commercial customers is expected to propel the growth of the industrial and commercial natural gas distribution market going forward. A commercial customer means a customer who performs or produces a service or product which is a source of revenue to the customer. Commercial customers use natural gas for the household purposes such as cooking and operating refrigeration and cooling equipment. For instance, according to the U.S electricity information administration, a US-based government agency, In the year 2021, commercial usage accounted for about 11% of total U.S. natural gas consumption, and natural gas sources for about 19%. Therefore, rising demand from commercial customers is driving the growth of the natural gas distribution market. Major players in the industrial and commercial natural gas distribution market include Gas Natural Sdg SA, Ultrapar Participacoes SA, Air Liquide SA, L`Air Liquide SA, and Korea Gas Corp (KOGAS) . The establishment of new city gas distribution plants is the key trend gaining popularity in the industrial and commercial natural gas distribution market. Major companies operating in the market are introducing gas distribution plants in every city to sustain their position in the market. For instance, in January 2022, Bharat Petroleum Corporation Ltd (BPCL), an India-based petrol and gas distribution company, launched city gas distribution networks in 6 cities throughout India which helps in the easy supply of natural gas. Bharat Petroleum invested INR 10000 cores in developing this project. Many countries are focusing on the adoption of decarbonization which aims in the reduction of emission of greenhouse gases. This adoption reduces the use of coal and encourages the use of natural gas for generating electricity. This has resulted in a rapid expansion of renewable energy and the evolution of the industrial and commercial market in the upcoming years. Asia-Pacific was the largest region in the industrial and commercial natural gas distribution market in 2022. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the industrial and commercial natural gas distribution market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, USA. The industrial and commercial natural gas distribution market includes revenues earned by maintaining and operating gas pipeline and facilities up to the residential gas meter. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The industrial and commercial natural gas distribution market research report is one of a series of new reports from The Business Research Company that provides industrial and commercial natural gas distribution market statistics, including industrial and commercial natural gas distribution industry global market size, regional shares, competitors with a industrial and commercial natural gas distribution market share, detailed industrial and commercial natural gas distribution market segments, market trends and opportunities, and any further data you may need to thrive in the industrial and commercial natural gas distribution industry. This industrial and commercial natural gas distribution market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Argon is a chemical element known as a Nobel gas (inert gas) that is isolated on a large scale by fractional distillation of liquid air and can be converted into colorless liquid form by lowering the temperature to below-186 degrees. Argon is frequently used when there is a requirement for inert atmosphere. The main phases of argon are liquid and gas. The liquid is flowing freely like water. Argon is used for functions such as cooling, illumination, and illusion. These are used by end users such as metal manufacturing and fabrication, chemicals, energy, healthcare, electronics, food and beverage, and other sectors. The global argon market is segmented - 1) By Phase: Liquid, Gas 2) By Function: Cooling, Illumination, Illusion 3) By End Userr: Metal manufacturing & fabrication, Chemicals, Energy, Healthcare, Electronics, Food & beverage, Other End-Users (includes scuba diving, automotive & transportation equipment) The global argon market size will grow from $6.06 billion in 2022 to $6.84 billion in 2023 at a compound annual growth rate (CAGR) of 12.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global argon is expected to grow from $10.28 billion in 2027 at a CAGR of 10.7%. The argon gas market is expected to be driven by the growing demand from the electronics industry. As argon gas provides an inert atmosphere needed for rapid cooling and heating of materials, it will be widely used for manufacturing semiconductors, flat panels, solar PV cells, and microelectronic devices in the electronics industry. The electronics industry has more scope due to the growth in the technology market, especially in Asia-Pacific, which is driving the requirement for advanced semiconductor components and a high reliance on specialty gases such as argon. Major players in the argon market are Airgas, Air Liquide, Linde, Messer Group, Praxair, Air Water, Air Products, American Gas Group, BASF, Buzwair, and Eurochem. Rising costs had a negative impact on the growth of the argon gas market. This rise in raw material costs resulted in higher manufacturing costs, thus decreasing the investments available for research and development of new products. Additionally, companies invested heavily in marketing their products due to intense competition in the market. Rising trucking, railroad, dry-bulk, and air-freight rates also negatively impacted the market. This rise in operating costs increased the pressure on companies to protect margins while maintaining the quality of their products. Many chemical manufacturers are adopting IoT (Internet of Things) technologies to connect equipment and smart devices to garner real-time insights and locate gaps in the manufacturing process. The data obtained through these devices is processed, analyzed, and interpreted by plant managers and senior-level management to improve quality and achieve optimum production levels. For example, smart systems give information on the working condition and performance of chemical reactors with embedded software and analytics tools to notify plant operators and managers of possible machine breakdowns. Major industrial gas manufacturers adopting IoT technology include Praxair-Linde and Air Products. In December 2020, Air Products & Chemicals, a US corporation, purchased the Oxygen and Argon works for NIS 575 million ($176.84 million). This acquisition aids Air Products & Chemicals' business expansion and rapid growth potential. Israel's Oxygen & Argon Works is Israel's leading producer of industrial gases, including helium, oxygen, hydrogen, and argon. Asia-Pacific was the largest region in the argon market in 2022. North America was the second-largest region in the global argon market share. The regions covered in the argon market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the argon market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, the UK, the USA, and Australia. The argon market consists of the sales of argon used in refrigeration, cryosurgery, airbag inflation, fire extinguishing, and spectroscopy. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The argon market research report is one of a series of new reports from The Business Research Company that provides argon market statistics, including argon industry global market size, regional shares, competitors with an argon market share, detailed argon market segments, market trends and opportunities, and any further data you may need to thrive in the argon industry. This argon market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Helium is a chemical element also known as Nobel gas (inert gas), which is available in natural gas form and can be converted into liquid form by lowering the temperature to below-270 degrees. Helium is an odorless, tasteless, colorless, inert, non-toxic monatomic gas that uses the lowest boiling and melting points. The main types of helium are liquid helium and gaseous helium. Liquid helium is a superfluid; it acts essentially like a fluid with zero viscosity governed by the Euler equations. These are used in applications such as breathing mixes, cryogenics, leak detection, pressurizing and purging, welding, controlled atmosphere, and other applications that are used by end users such as aerospace and aircraft, electronics and semiconductors, nuclear power, healthcare, welding, metal fabrication, and other end-user industries. The global helium market is segmented - 1) By Type: Liquid Helium, Gaseous Helium 3) By Application: Breathing Mixes, Cryogenics, Leak Detection, Pressurizing and Purging, Welding, Controlled Atmosphere, Other Applications 2) By End User: Aerospace and Aircraft, Electronics and Semiconductors, Nuclear Power, Healthcare, Welding and Metal Fabrication, Other End-User Industries The global helium market size will grow from $4.45 billion in 2022 to $5.03 billion in 2023 at a compound annual growth rate (CAGR) of 12.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global helium is expected to grow from $6.48 billion in 2027 at a CAGR of 6.6%. The helium market growth is expected to be driven by the growing demand from the healthcare industry. Helium is widely used in various disease diagnosis equipment as it has unique properties such as being inert in nature, non-reactive with other elements, noncorrosive and non-flammable. Helium is used in various applications in the healthcare industry, such as adjunct therapy in asthma exacerbation, ARDS, croup, COPD, and bronchiolitis. For instance, helium is utilized in magnetic resonance imaging (MRI) apparatus to regulate powerful magnets, which are useful for monitoring various conditions within the abdominal, chest, and pelvis. They are also useful in pregnancy diagnosis. Major players in the helium market are Airgas, Air Liquid, Linde, Messer Group, Air Products, Gazprom, Gulf Cryo, Matheson Tri-Gas, Exxon, Praxair, and Buzwair. Stringent safety regulations associated with the manufacturing and transportation of helium gas have been a major restraint on the market. These substances are toxic and hazardous when exposed to extreme temperatures and pressures. Companies in this industry should invest in equipment, technologies, and processes to limit toxic levels and chemical concentrations. These regulations increased the operating costs of companies in this industry, thus limiting the scope for investments relating to the launch of new products and expansion into new markets, thereby affecting the helium market growth. The decline of existing helium supply sources, particularly in the US Bureau of Land Management’s (BLM) system, is causing industrial gas companies and distributors to seek new sources of helium supply, such as the production of helium from non-hydrocarbon sources. Helium production from non-hydrocarbon sources is a process where helium is produced and sold as either the only revenue stream or one of the key revenue streams. For example, at the Global Helium Summit, Rex Canon, IACX Energy’s CEO, pointed out that "If there were another non-hydrocarbon gas present that could be produced and sold as a commercial product, such as carbon dioxide, gas fields with helium content lower than 0.6% could have been developed for the production and sale of helium as a secondary product." He also mentioned that due to the decline of the BLM supplies, non-hydrocarbon sources of helium were a good alternative to the traditional sources from LNG flash gas and NRU off-gas. In December 2020, Air Products & Chemicals, a US corporation, purchased the Oxygen and Argon works for NIS 575 million ($176.84 million). This acquisition aids Air Products & Chemicals' business expansion and rapid growth potential. Israel's Oxygen & Argon Works is Israel's leading producer of industrial gases, including helium, oxygen, hydrogen, and argon. Asia-Pacific was the largest region in the helium market in 2022. North America was the second-largest region in the helium market report. The regions covered in the helium industry report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the helium market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, the UK, the USA, and Australia. The helium market consists of the sales of liquid helium and gaseous helium used for medicine, scientific research, refrigeration, gas for aircraft, and coolant for nuclear reactors. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The helium market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The helium market research report is one of a series of new reports from The Business Research Company that provides helium market statistics, including helium industry global market size, regional shares, competitors with a helium market share, detailed helium market segments, market trends and opportunities, and any further data you may need to thrive in the helium industry. This helium market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.