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, 2019-2029F”, the Australia Industrial Gases Market stood at USD 2.68 billion in 2023 and is anticipated to grow with a CAGR of 3.75% in the forecast period, 2024-2029. 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.

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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.

The Australia Industrial Gases Market is segmented in product, mode of distribution, regional distribution, and company.

Based on its product, the oxygen segment held the largest share in the market. Utilizing oxygen in industrial operations presents numerous environmental advantages, such as emitting cleaner exhaust and lowering pollution levels in comparison to alternative gases. This positions oxygen as an eco-conscious option, in line with the increasing focus on sustainability and environmental stewardship across Australian sectors. Selecting oxygen allows businesses to actively support a more sustainable tomorrow and showcase their dedication to safeguarding the environment for future generations.

Based on region, Australia Capital Territory & New South Wales segment is expected to grow during the forecast period.

New South Wales (NSW) and the Australian Capital Territory (ACT) feature a dynamic academic environment, hosting prestigious research institutions and leading universities. These esteemed establishments depend significantly on industrial gases to support various advanced research and development endeavors. The consistent need for industrial gases not only highlights the significance of these regions but also reinforces their leadership in research and innovation.

Major companies operating in Australia Industrial Gases Market are:

• BASF Australia Ltd
• Linde Material Handling Pty Limited
• Coregas Pty Ltd
• Air Liquide Australia Limited
• Kleenheat Pty Ltd

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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 with 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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