India Industrial Gases Market to Grow with a CAGR of 4.92% through 2030
Increasing Demand for Specialty Gases is expected to drive the
India Industrial Gases Market growth in the forecast period, 2026-2030.
According to TechSci Research report, “India Industrial
Gases Market- By Region, Competition, Forecast and Opportunities,
2020-2030F”, the India Industrial Gases Market was valued at USD 3.06 Billion in 2024 and
is anticipated to grow with a CAGR of 4.92% through 2030. As
technology advances, especially in sectors like electronics and
pharmaceuticals, there is an increasing demand for high-purity and
ultra-high-purity gases to maintain product quality and performance.
Specialized applications, such as semiconductor fabrication and advanced
manufacturing, require customized gas mixtures and precise control, boosting
the need for specialty gases. In 2023, INOX Air Products announced plans to
invest between USD 35.83 and 59.72 million to set up ultra-high-purity facilities
and a supply chain for gases critical to semiconductor production in India.
Essential gases for chip fabrication include oxygen, nitrogen, argon, helium,
nitrous oxide, methane, silane, and ammonia. The growth in electronics and
semiconductor industries fuels demand for specialty gases like argon, nitrogen,
and hydrogen, which are crucial for cleanroom environments and processes like
etching and deposition.
In the pharmaceuticals and biotechnology
sectors, gases such as carbon dioxide and nitrogen are needed for
cryopreservation and fermentation, further driving the need for specialized gas
solutions. Industries are increasingly seeking custom gas mixtures to enhance
production processes, improve efficiency, and meet specific needs. This trend
is contributing to the growth of the specialty gases segment. As industrial
processes become more complex, the demand for specialty gases that support
advanced manufacturing techniques continues to rise. The wide range of
applications across various sectors, including high-tech industries,
healthcare, and environmental technologies, is also increasing the need for
specialty gases. Additionally, higher investments in research and development
across different fields are driving the demand for specialty gases used in
experimental and development processes.
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The India Industrial Gases Market is segmented into product
type, mode of distribution, regional distribution, and company.
Based on the Product Type, the Nitrogen
emerged
as the dominating segment in the Indian market for Industrial Gases in 2024.
Nitrogen
is utilized across a broad spectrum of industries, including steel,
petrochemicals, food and beverage, electronics, and pharmaceuticals. Its wide
range of applications, such as creating inert atmospheres, cooling, and
blanketing, drives high demand. For instance, in 2023, Israel-based IceCure
Medical launched the ProSense cryoablation system in India through distributor
NovoMed Incorporation. This system uses liquid nitrogen for effective tumor
treatment through freezing, ensuring safety and efficacy. Nitrogen's extensive
role in processes like oil and gas extraction, chemical manufacturing, and
controlled atmosphere environments reinforces its market dominance. India
benefits from a well-established infrastructure for nitrogen production,
storage, and distribution, supported by significant investments and a robust
supply chain. In 2023, Linde India secured a long-term agreement to supply
nitrogen, hydrogen, and compressed dry air to Indian Oil Corporation’s Panipat
refinery. The high demand for nitrogen across various applications, including
inerting, purging, and refrigeration, along with its cost-effectiveness,
solidifies its position as the leading industrial gas in the market.
Based on the region, the South India emerged as the
fastest growing region in the Indian Industrial Gases market during the
forecast period. States such as Tamil Nadu, Karnataka, and Andhra Pradesh are witnessing
rapid industrial growth in sectors like automotive, aerospace, pharmaceuticals,
textiles, and chemicals, all of which have high demands for industrial gases.
The South region is equipped with a robust infrastructure for the production,
storage, and distribution of these gases. Major cities and industrial hubs in
the region feature modern facilities and efficient logistics networks that
streamline the supply chain. Key ports like Chennai and Visakhapatnam support
the import and export of gases, bolstering regional industrial activities. In
2023, INOX Air Products commissioned a new Ultra-High Purity Cryogenic Medical
Oxygen and Industrial Gases Plant in SIPCOT Phase II, Hosur, Tamil Nadu, with a
manufacturing capacity of 200 tons per day. Additionally, in Hyderabad, Linde’s
subsidiary Praxair India commenced commercial production at its new air
separation unit (ASU) in 2023, which will produce 250 tonnes of gases per day,
including liquid medical oxygen, nitrogen, and argon, serving the healthcare,
pharmaceutical, and other industrial sectors in the region. The South's growth
is driven by industrial expansion, advanced infrastructure, significant
investments, and supportive government policies, making it the fastest-growing
region in the Indian industrial gases market.
Major companies operating in India Industrial Gases
Market are:
- Linde
plc
- Praxair
Technology, Inc.
- Taiyo
Nippon Sanso India Pvt Ltd.
- INOX Air
Products Private Limited
- Bhuruka
Gases Limited
- Bombay
Oxygen Investments Ltd.
- Ellenbarrie
industrial Gases Ltd.
- Air
Liquide India
- Goyal MG
gases pvt.ltd
- SICGIL
India Limited
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“The Indian industrial gases market is experiencing
swift growth, driven by heightened industrial activity and technological
progress. Significant investments in infrastructure and a heightened emphasis
on sustainability are key factors behind this expansion. The increasing demand
for gases in industries like pharmaceuticals and electronics is encouraging
companies to innovate and stay competitive. Additionally, the market is
shifting towards automation and digital technologies, which are improving operational
efficiency and influencing future development trends”, said Mr. Karan Chechi,
Research Director of TechSci Research, a research-based management consulting
firm.
“India Industrial Gases Market By Product Type (Oxygen, Nitrogen, Hydrogen, Carbon Dioxide, Argon and Helium), By Mode of Distribution (Bulk & Cylinder, Tonnage/Gaseous, Packaged), By Region, Competition, Forecast and Opportunities, 2020-2030F”, has evaluated
the future growth potential of India 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 India Industrial Gases Market.
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