Saudi Arabia Industrial Gases Market to Cross $ 1.2 Billion by 2023
Recovery in
oil prices, growing investments in infrastructure sector coupled with various
government initiatives such as Saudi Vision 2030 to fuel Saudi Arabia
industrial gases market through 2023
According to TechSci Research report “Saudi Arabia Industrial Gases Market By Product, By Mode of Distribution,
Competition Forecast & Opportunities, 2013 – 2023”, industrial gases market in Saudi Arabia is projected
to reach $ 1.24 billion by 2023 on account of increasing demand from various end user industries such as refinery,
metallurgy, food & beverages, paper & pulp, etc., coupled with presence
of favorable government policy environment.
In 2017, Air Liquide grabbed
the largest share in Saudi Arabia industrial gases market. In June 2017, Linde
AG and Praxair Technology, Inc. signed a business combination agreement (BCA)
to merge under a new holding company and are likely to complete the planned
merger by the second half of 2018. The new merged entity would continue to dominate
Saudi Arabia industrial gases market during the forecast period.
Browse 13 market data Tables and 54 Figures spread through 114
Pages and an in-depth TOC on "Saudi Arabia Industrial Gases Market"
Oxygen and Nitrogen hold the largest share in the country’s industrial
gases market, as both the gases are used across a wide range of applications in
various industries. Riyadh region is the highest demand generating region in
industrial gases market in Saudi Arabia, owing to increasing number of industrial
units in the region. Moreover, several government investments are planned for
the region’s chemical and petrochemical industry in the coming years, which
would further boost demand for industrial gases in the region.
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“As
of 2017, Saudi Arabia’s refining capacity stood at over 2,800 thousand barrels
per day and the country’s crude steel production stood at around 5 million tons
per annum, thus paving the way for high and rising consumption of industrial
gases in the country. Furthermore, growing investments in industrial sector and
government initiatives such as Saudi Vision 2030 are likely to increase the
demand for industrial gases in the coming years.”, said Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management
consulting firm.
“Saudi
Arabia Industrial Gases Market By Product, By Mode of Distribution,
Competition Forecast & Opportunities, 2013 – 2023” has
evaluated the future growth potential of Saudi Arabia industrial gases market
and provides statistics and information on market size, structure and trends.
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 Saudi Arabia industrial gases market.
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