Global Industrial Gas Market Strategy Report 2019-2022: The Top Opportunities Will Arise in the Nitrogen Segment, Which Will Gain $7.8 Billion of Global Annual Sales by 2022 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--May 7, 2019--The “Industrial Gas Global Market Opportunities And Strategies To 2022” report has been added to ResearchAndMarkets.com’s offering.
This report describes and evaluates the global industrial gas market. It covers two five-year periods, 2014 to 2018, termed the historic period, and 2018 through 2022, the forecast period.
The global industrial gas market reached a value of nearly $97.6 billion in 2018, having grown at a compound annual growth rate (CAGR) of 4.9% since 2014, and is expected to grow at a CAGR of 6.4% to nearly $125.2 billion by 2022.
Growth in the industrial gas market in the historic period resulted from emerging markets growth and technological developments in industrial gases. Factors that negatively affected growth in the historic period were an increased number of regulations on industrial gas safety, and frequent changes in the regulations. Going forward, economic growth and increasing applications of industrial gases in healthcare will drive growth. Factors that could hinder the growth of this market in the future are rising interest rates and reductions in free trade.
The industrial gas market is segmented by type into hydrogen, oxygen, carbon dioxide, nitrogen, and others. The nitrogen market was the largest segment of the industrial gas market in 2018 at 27.9%. The oxygen market is expected to be the fastest-growing segment going forward at a CAGR of 6.60%. The industrial gas market is also segmented by end-use industry into chemicals, metallurgy, manufacturing, food and beverages, healthcare, and others. Manufacturing was the largest segment of the industrial gas market by end-use industry in 2018 at 26.7%.
Asia-Pacific is the largest market for industrial gases, accounting for 39.3% of the global market. It was followed by North America, Western Europe and then the other regions. Going forward, the Middle East and Africa will be the fastest growing regions in this market, where growth will be at CAGRs of 10.9% and 9.8% respectively. These will be followed by Eastern Europe and Asia-Pacific where the markets are expected to grow at CAGRs of 9.4% and 8.3% respectively.
The global industrial gas market is highly concentrated. The top ten competitors in the global industrial gas market made up 73.8% of the total market in 2018. Players in the market include Air Liquide, The Linde Group, Paraxair Inc., Air Products and Chemicals Inc, Mitsubishi Chemical Holdings Corp and Sinopec. The global chemicals market, of which the industrial gas market is a segment, reached a value of nearly $3,410 billion in 2018, having grown at 0.9% since 2014. It will grow at a compound annual growth rate (CAGR) of 5.4% to nearly $4,216.5 billion by 2022.
The industrial gas market was the 11th largest segment in the global chemicals market in 2018, accounting for 2.9% of the chemicals market. The ethyl alcohol and other basic organic chemical market is the largest segment of the chemicals market, accounting for 26.2% of the chemicals market, worth $893.8 billion globally and has grown at a CAGR of 0.8% during the historic period. It is expected to grow at a CAGR of 4.6% during the forecast period.
The top opportunities in the global industrial gas market will arise in the nitrogen segment which will gain $7.80 billion of global annual sales by 2022. The industrial gas market size will gain the most in China at $4.22 billion. Industrial gas market-trend-based strategies include increasing the production capacities for food grade industrial gases, adopting IoT technologies to increase operational efficiencies and reduce production costs, and acquiring smaller companies to gain market share. Player-adopted strategies in the industrial gas industry include acquiring companies in similar industries, expanding production facilities, growing inorganically through acquisitions, and making sustainable investments.
To take advantage of the opportunities, the author recommends the industrial gas manufacturing companies to consider strategies such as adopting new on-site gas generation technologies, increasing emphasis on safe packaging, adopting value-based pricing, expanding into new markets through acquisitions, increasing reach through social media, and adopting eco-friendly methods of production.
- 2M Holdings
- Agrium Inc.
- Air Liquide
- Air Products & Chemicals Inc.
- Air Water Inc.
- Baosteel Gases
- CE-02 Trockenesis
- Matheson Tri-Gas Inc.
- Messer Group GmbH
- Mitsubishi Chemical Holdings Corporation
- Praxair Inc.
- Renegade Gas Pty. Ltd.
- Showa Denko K.K.
- Sinopec Limited
- Taiyo Nippon Sanso
- The Linde Group
For more information about this report visit https://www.researchandmarkets.com/r/oozis0
View source version on businesswire.com:https://www.businesswire.com/news/home/20190507005974/en/
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Related Topics:Industrial and Specialty Gases
INDUSTRY KEYWORD: ENERGY OIL/GAS
SOURCE: Research and Markets
Copyright Business Wire 2019.
PUB: 05/07/2019 02:16 PM/DISC: 05/07/2019 02:16 PM