Industrial Gases Market

The report "Industrial Gases Market by Type (Oxygen, Nitrogen, Hydrogen, Carbon Dioxide, Acetylene, Inert Gases), End-use Industry (Chemical, Electronics, Food & Beverage, Healthcare, Manufacturing, Metallurgy, Refining), and Region - Global Forecast to 2030", industrial gases market is projected to be worth USD 126,526.8 million by 2030, registering a CAGR of 5.1% during the forecast period.

Browse 158 market data Tables and 49 Figures spread through 210 Pages and in-depth TOC on "Industrial Gases Market by Type (Oxygen, Nitrogen, Hydrogen, Carbon Dioxide, Acetylene, Inert Gases), End-use Industry (Chemical, Electronics, Food & Beverage, Healthcare, Manufacturing, Metallurgy, Refining), and Region - Global Forecast to 2030"

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The term industrial gas refers to gaseous materials produced in large quantities for use in industrial, commercial, and institutional applications. They are commercially manufactured through air-separation methods, chemical synthesis, or purification of natural gases such as Freon, and are sold as compressed gases, liquefied, or cryogenic. Industrial gases are valuable because of their physical and chemical properties, making them essential in modern manufacturing, processing, treatment, and preservation industries. Their production, storage, and distribution require specialized facilities to ensure they are safe, pure, and maintain high-quality standards.

By type, oxygen segment to register highest CAGR during forecast period

Due to the widespread use of oxygen in various high-growth industries, the oxygen segment is estimated to report the fastest CAGR during the forecast period within the industrial gases market. Oxygen plays a crucial role in metallurgy by supporting steel production and metal processing, where it improves combustion rates, reduces impurities, and enhances product quality. In healthcare, medical-grade oxygen is essential for respiratory treatments and other procedures, including surgeries and emergency care, areas that are increasing with aging populations and the rising prevalence of respiratory diseases. The chemical industry depends heavily on oxygen for processes like oxidation and the production of key intermediates, while the pulp & paper industry uses it for bleaching and wastewater treatment. Additionally, oxygen is increasingly used in environmental applications such as wastewater management and sustainable combustion technologies. The growth in oxy-fuel combustion methods to improve energy efficiency and reduce emissions further boosts market potential. Overall, oxygen is expected to maintain a strong growth rate and solidify its position as a leading segment in the industrial gases market due to ongoing demand from both traditional and emerging applications.

By end-use industry, food & beverage segment to record highest CAGR during forecast period

The food & beverage segment is expected to record the highest CAGR in the industrial gases market due to the increasing need for food preservation, quality improvement, and food safety in food processing. Carbon dioxide, nitrogen, and oxygen industrial gases are essential in many applications, including modified atmosphere packaging (MAP), which ensures a long shelf life by delaying microbial reactions and oxidation. Carbon dioxide is widely used in beverage carbonation, refrigeration, and freezing, while nitrogen helps maintain package integrity and prevent spoilage. Controlled atmosphere storage with oxygen is also used to preserve color and freshness in products such as fresh-cut vegetables and seafood. The rising sales of ready-to-eat foods, frozen foods, packaged beverages, and the expanding cold chain infrastructure worldwide are driving the demand for gases in the industry. Strict food safety standards and the growing preference for minimally processed and long-stability products further accelerate usage. The food & beverage segment is projected to experience the fastest growth in industrial gas demand globally as the food manufacturing and export markets continue to expand.

By region, Asia Pacific to exhibit highest CAGR during forecast period

Asia Pacific is expected to register the highest CAGR in the industrial gases market during the forecast period due to rapid industrialization, expanding manufacturing capacity, and economic growth among major economies like China, India, Japan, and South Korea. Key industrial gases consumers in the region include the chemical, metallurgy, electronics, food and beverage, and healthcare sectors, which are driven by heavy infrastructure development and increasing exports. In China and India, growth is mainly fueled by rising steel production, healthcare needs, and advancements in semiconductor and electronics manufacturing. Additionally, a clear trend is toward increasing investments in clean energy, such as hydrogen, carbon capture, and renewable energy projects, further boosting demand for industrial gases. The growing middle-class population, urbanization, and changing food habits are additional drivers for the food & beverage industry. Asia Pacific is noted as the fastest-growing market for industrial gases in the forecast period, supported by stronger government initiatives to develop the industrial sector and the presence of global leaders and competitive regional players.

The industrial gases market comprises major players including Air Liquide (France), Linde PLC (UK), Air Products and Chemicals, Inc. (US), Messer SE & Co. KGaA (Germany), NIPPON SANSO HOLDINGS CORPORATION (Japan), BASF SE (Germany), Bhoruka Specialty Gases Pvt Ltd (India), Ellenbarrie Industrial Gases Limited (India), Gruppo SIAD (Italy), Iwatani Corporation (Japan), AIR WATER INC (Japan), and AirPower Technologies Limited (China). Expansions, acquisitions, joint ventures, and product launches are major strategies these key players adopt to enhance their positions in the industrial gases market.

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