China Industrial Gases Market to Surpass $22 Billion by 2022
Surging demand from various
industries such as metal & steel, refineries, chemical & fertilizers,
automobile, food & beverage, etc., to drive China industrial gases market
through 2022
According to TechSci Research report “China
Industrial & Specialty Gases Market By Application, Mode of Distribution & Region, Forecast &
Opportunities,
2012-2022”, industrial gases market in China is projected to surpass $ 22
billion by 2022, owing to rising demand from automobile and steel industries. Over
the last two decades, rapid pace of industrialization is boosting economic
growth in China. Power plants, factories and heavy industries are emitting
polluted air, which is impacting health of people in China and even causing
premature deaths. Specialty gases are used as standardized gases to check air
quality. For air monitoring, air samples are collected in containers and are
then studied by using gas chromatography. This
is boosting demand for industrial and specialty gases in China.
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East and South central regions dominate
demand for industrial &
specialty gases in China, as these regions house a large number of food &
beverage, automotive and metal processing plants. The number of economic zones
in Central China grew from only 6 to around 775 during 1995-2010. Moreover, various
upcoming automobile and metal & steel industries are further anticipated to
drive demand for industrial gases in East and
South Central China. The automotive
industry in Eastern and South Central regions accounted for 18% share in the
total automobile sales in China in 2015. Robust industrial developments in East and South Central
regions are expected to continue driving demand for industrial gases in these
regions through 2022.
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“China industrial gases market is on the rise due to increase
in consumption of industrial gases from end user industries such as metal &
steel, automobile, chemicals & fertilizers, food & beverage, etc. Few
of the major companies operating in China industrial and specialty gases market
include Linde, Air Liquide, Yingde Gases, Praxair and Air Products, among
others. Major companies operating in China industrial gases market are
increasingly focusing on expanding their customer base and merging their
industrial gas and helium segments to achieve a strong foothold in the market.
Increasing number of acquisitions by major players operating in China industrial
gases market are also aimed at improving product offerings and venture into new
business spaces.”,
said Mr. Karan Chechi, Research Director with TechSci Research, a research
based global management consulting firm.
“China
Industrial & Specialty Gases Market By Application, Mode of Distribution
& Region, Forecast & Opportunities, 2012-2022” has evaluated China industrial gases market and has provided
statistics and information on market structure, industry behaviour 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
present in China industrial gases market.
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