Latest News- Industrial Gases Market: Manufacturing is expected to lead the End-user segment during 2025-2029

The Industrial Gases Market is being driven by Facility expansion strategies by industrial gases vendors

The Industrial Gases Market is expected to grow at a CAGR of 5.7% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 31.1 billion. The industrial gases market is characterized by a high degree of fragmentation, with a multitude of small and medium-sized companies dominating regional markets. To enhance their market presence, larger players are engaging in mergers and acquisitions (M&A) to consolidate market share, achieve economies of scale, and boost operational efficiency. Strategic M&A activities enable industrial gases companies to expand their product portfolios, diversify offerings, and acquire complementary businesses and technologies, thereby enhancing their capabilities and market reach. One recent significant transaction occurred in May 2023, when Air Products signed an investment agreement with the Government of the Republic of Uzbekistan and Uzbekneftegaz JSC to acquire, own, and manage a natural gas-to-syngas processing facility in Qashqadaryo Province, Uzbekistan, for USD1 billion. This acquisition will enable Air Products to strengthen its position in the global industrial gases market and cater to the evolving needs of customers across various industries. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on segments_for_ai.nslist

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Facility expansion strategies by industrial gases vendors
• Adoption of industrial gases for rapid surface chilling technology
• Industrial growth in emerging countries fuel demand for industrial gases

However, the market also witnesses some limitations, which are as follows:

• Criticalities in gas distribution and gas handling systems
• Slowdown of manufacturing sector in China
• Stringent safety regulations for industrial gases

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Market Scope in Industrial Gases Market Research Report

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Research Analysis Overview

The Industrial Gases Market encompasses the production and supply of essential gases such as Nitrogen, Hydrogen, Oxygen, and others for various industries. Factors driving this market include global population growth, urbanization, agriculture, and the frozen food market. Key applications include chemicals and fertilizers, carbon dioxide for the semiconductor industry, and gases for steel melting and copper smelting. Companies like Linde, Air Liquide, and Messer dominate the market. Gases used in wastewater treatment, environmental remediation, and cleanup of hazardous waste also contribute to the market. Liquid nitrogen, types like oxygen, and applications such as fuel and thermal efficiency are also part of this sector. Additionally, gases like chlorine and acetylene are used in industries like coal gasification systems and virus research, respectively. Employees in this industry work to ensure the safe and efficient production and distribution of these gases.

Market Research Overview

The global industrial gases market encompasses the production and supply of high-value-add specialty gases, including nitrogen, hydrogen, and oxygen, utilized in various industries such as chemicals, fertilizers, and agriculture. According to Technavio, the market size is determined by the consolidated revenue generated by manufacturers specializing in these gases. Key growth drivers include the increasing demand for specialty adhesives and sealants, driven by population growth, urbanization, and agricultural expansion. These trends are expected to significantly contribute to the market's expansion throughout the forecast period.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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