Global Industrial Gases Market to Cross $106 Billion by 2022
Increasing demand from chemical
& petrochemical, metal & fabrication, and various other industries
coupled with booming automobile sector to fuel growth in global industrial
gases market through 2022
According to TechSci
Research report “Global
Industrial Gases Market
By Application, By Type, By Region, By Mode of Distribution, Competition
Forecast & Opportunities, 2012-2022”, global industrial gases market is projected to cross $ 106 billion by 2022,
on account of growing demand for industrial gases from a wide range of industrial
applications such as metal production & fabrication, automobile, chemical
& petrochemicals, etc. Though Europe dominates demand for industrial gases
across the globe, Asia-Pacific is projected to emerge as the fastest growing
market for industrial gases during the forecast period, due to rising demand
from countries such as China, Japan, India and South Korea. Further, increasing
development of steel production plants globally has driven demand for on-site
tonnage plants. Rising demand for industrial gases across the globe can also be
attributed to rising demand from healthcare and pharmaceutical sector.
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Global
Industrial Gases Market"
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Rising
population in developing countries such as India, Brazil, Argentina, China and
others is forecast to drive demand for packaged food. Industrial gases are
utilized in packaged food industry for preservation of food for longer durations.
Further, new automotive manufacturing facilities are being developed
across the globe to address increasing automobile demand. An increasing number of global
automobile manufacturers are entering into collaborative agreements with local
players in relatively untapped geographies, which is also boosting demand for industrial
gases, especially carbon dioxide and argon, as these gases are widely used in
automotive industry for MIG welding purposes. Few major
companies operating in global industrial gases market include Air Liquide SA,
Linde Group, Praxair Inc., Air Products and Chemicals Inc.
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“Global industrial gases market is expanding due to
increasing investments in iron & steel industry, automobile and chemical
& petrochemical sectors. These applications constitute around two-thirds of
the global industrial gases consumption. Global economic scenario, declining
profit margins and increasing market competition has forced companies to
consolidate position and expand in new geographic areas over the last few years.
This has led to increase in M&A activities among the players operating in global
industrial gases market.”, said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Global
Industrial Gases Market By Application, By Type, By Region, By Mode of
Distribution, Competition Forecast & Opportunities, 2012-2022” has evaluated the global industrial gases market and provided
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 helps decision makers
to take sound investment decisions. Besides, the report also identifies and analyzes
emerging trends along with strategic recommendations for global industrial
gases market.
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