Industrial Gases Market in India to Cross $ 2.2 Billion by 2021
Growing end user industries coupled with continuous
capacity additions of existing as well as new projects to drive the India
industrial gases market until 2021
According to
TechSci Research report, “India Industrial Gases Market By Type, By End User, Competition Forecast and Opportunities, 2011 –
2021”, the
market for industrial gases in India is projected to reach US $ 2.2 billion by
2021, on account of implementation
of various favorable government policies to support manufacturing sector,
coupled with growing demand from various end user industries, especially metallurgy
and petrochemicals. Various upcoming steel projects are integrating industrial
gas production units to address the bulk requirements for industrial gases,
thereby positively influencing the India industrial gases market.
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data Tables and 31 Figures spread through 125
Pages and an in-depth TOC on "India Industrial Gases Market"
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In order to sustain in highly
competitive India industrial gases market, companies are investing heavily on
establishing industrial gas plants all across the country. For instance, Tata
Steel is building a 55,000 TPA Ferrochrome Plant at Gopalpur, Odisha. By the
end of 2020, steel production in India is forecast to reach 200 million metric tons.
Consequently, industrial gas companies are collaborating with various steel producers
for addressing their industrial gas requirements. In 2015, Praxair announced
its long term contract with Gerdau, a US based leading steel manufacturer, for the
supply of gaseous oxygen to its facility located at Tadipatri, Andhra Pradesh.
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In 2015, Oxygen dominated the
India industrial gases market, owing to its wide applications in metallurgy
industry, such as welding, fabrication and other processes. Oxygen enriched
atmosphere is used in chemical refining and heating associated with carbon
removal from materials. In India, Oxygen is often stored as a liquid, although
it is used primarily as a gas. In 2015, east region dominated the industrial
gases market in the country on account of various upcoming metallurgical
projects coupled with presence of major steel production units in this region.
“Government of
India is focusing on continuing economic development in the country. With huge initiatives
like ‘Make in India’, the iron
& steel sector is projected to grow at a CAGR of more than 15%, in volume
terms, during 2015-2020. With new iron and steel plants anticipated to become
operational over the next five years, the demand for industrial gases is
further forecast to increase at a robust pace during the forecast period.” said Mr. Karan Chechi, Research Director
with TechSci Research, a research based global management consulting firm.
“India Industrial Gases Market By Type, By End User, Competition Forecast
and Opportunities, 2011 – 2021” has evaluated the future growth potential of industrial
gases market in India and provide statistics and information on market
structure, industry behavior and trends. The report includes market projections
and demand forecasting. The report is intended to provide cutting-edge market
intelligence and help decision makers take sound investment evaluation.
Besides, the report also identifies and analyzes emerging trends along with
essential drivers, challenges and opportunities available in India industrial
gases market.
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