Australia Industrial Gases Market to Grow with a CAGR of 3.75% through 2029
Surge in research and development activities is expected
to drive the Australia Industrial Gases Market growth in the forecast period,
2025-2029.
According to TechSci Research report, “Australia
Industrial Gases Market – By Region, Competition, Forecast and Opportunities, 2029F”, the Australia Industrial Gases Market stood at USD 2.68 billion
in 2023 and is anticipated to grow with a CAGR of 3.75% through 2029. Government initiatives focused on industrial gases have created favorable market conditions for the Australia Industrial Gases Market. Numerous factors contribute to the growth of various industrial gases market products. In December 2022, in response to escalating concerns regarding energy pricing and climate change, the Australian Government enacted a mandatory Gas Code of Conduct as part of its comprehensive Energy Price Relief Plan. This code is designed to regulate the gas market effectively, ensuring equitable pricing and fostering transparency among gas suppliers. The government's objective is to provide relief to consumers while establishing a fair playing field for all stakeholders within the gas industry.
As part of its commitment to combatting climate change, the Australian Government has been actively pursuing strategies to reduce greenhouse gas emissions across various sectors, including the industrial gases industry. Specific measures are being implemented to curb emissions and promote sustainable practices within this sector. Through stringent regulations and the promotion of innovative solutions, the government aims to address the challenges posed by climate change and pave the way for a greener and more sustainable future for all Australians.
The expansion of research and development (R&D) endeavors significantly contributes to the demand for industrial gases. As laboratories and research institutions broaden their activities, there is a heightened requirement for larger volumes of diverse gases to facilitate experiments and tests. The ongoing evolution of new technologies often necessitates the use of particular gases, further amplifying the demand. This dynamic interaction between R&D innovations and the growing dependence on specialized gases underscores the intricate connection between scientific advancements and the industrial gas sector.
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The Australia
Industrial Gases Market is segmented in product, mode of distribution, regional
distribution, and company.
Based on its product, Based on the category of product, the oxygen emerged as the fastest growing segment in the Australian market for industrial gases in 2023. Oxygen, a versatile industrial gas, boasts diverse applications across multiple sectors owing to its broad utility. Beyond its indispensable function in healthcare, where it is extensively utilized for respiratory treatments and therapies, oxygen plays a pivotal role in numerous manufacturing operations. In the steel industry, for instance, oxygen is integral to blast furnaces, where it optimizes combustion efficiency and boosts production capacity. It is employed in the chemical sector to facilitate oxidation reactions, in water treatment processes for aerobic digestion, and in the glass and ceramics industry to enhance combustion efficiency.
Major companies operating in Australia Industrial
Gases Market are:
- BASF Australia Ltd
- Iwatani Australia Pty Ltd
- Coregas Pty Ltd
- Air Liquide Australia Limited
- Wesfarmers Kleenheat Gas Pty Ltd
- Supagas Pty Ltd
- BOC Limited
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“Nanotechnology is gaining prominence in the Australia industrial gases market, offering significant potential for various industries. Industrial gases are essential in facilitating the production and utilization of nanomaterials, making them indispensable in the realm of nanotechnology. A primary application of industrial gases in this field lies in the synthesis and manipulation of nanomaterials. Gases like nitrogen, hydrogen, and argon are widely employed in processes such as chemical vapor deposition (CVD) and physical vapor deposition (PVD) to apply thin films and coatings of nanomaterials onto substrates. These methods allow for precise control over factors like film thickness, composition, and structure, which are critical for crafting nanoscale devices and components,” said Mr. Karan Chechi,
Research Director of TechSci Research, a research-based management consulting
firm.
“Australia
Industrial Gases Market By Product (Oxygen, Nitrogen, Hydrogen, Carbon Dioxide,
Argon, Helium), By Mode of Distribution (Tonnage, Bulk, Packaged), By Region,
Competition, Forecast and Opportunities, 2019-2029F”, has evaluated
the future growth potential of Australia Industrial Gases Market and provides
statistics & information on market size, structure, and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Australia Industrial Gases Market.
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