The industrial gas market consists of the sales of industrial gases by entities (organizations, sole traders or partnerships) that manufacture industrial organic and inorganic gases in compressed, liquid, and solid forms. Industrial gases are also referred to as bulk gases or commodity gases.
The global industrial gas market is expected to decline from $101.8 billion in 2019 to $100.9 billion in 2020 at a compound annual growth rate (CAGR) of -0.9%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of % from 2021 and reach $100.1 billion in 2023. Asia Pacific was the largest region in the global industrial gas market, accounting for 41% of the market in 2019. North America was the second largest region accounting for 24% of the global industrial gas market. Africa was the smallest region in the global industrial gas market. The food and beverage industry is increasingly utilizing food-grade industrial gases to keep the food products safe and fresh. Food grade gases are high purity gases complying with food grade standards. Food grade industrial gases include nitrogen, oxygen, and carbon dioxide which are used to chill, freeze and package a variety of food products such as dairy and frozen products, beverages, fruits and vegetables, meat, fish, seafood, convenience food, bakery and confectionery. The demand of health-conscious consumers for fewer additives, safer and fresher food products also increases the demand for industrial gases, which can sometimes be used in place of chemical ingredients
The major players in the global industrial gas market are Air Liquide, The Linde Group, Praxair, Inc., Air Products and Chemicals Inc., Mitsubishi Chemical Holdings Corp
The countries covered in the global industrial 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 Global Industrial Gas Market is segmented:
1) By Type: Nitrogen, Oxygen, Carbon Dioxide, Hydrogen, Others - Industrial Gas
2) By End-User Industry: Chemicals, Metallurgy, Manufacturing, Food & Beverage, Healthcare, Others
3) By Mode of Supply: Bulk, Packaging, Pipe Line
4) By Packaging: Cylinders, Bottles, Canisters, Cartridges, Cryogenic Tanks/Vessels, Others
