Analyzing the Global Market for
Industrial Gases
The global market for industrial
gases expanded by nearly eight percent in the year 2011 and in spite of the
challenging economic environment amid the debt crisis in Europe, demand for
industrial gases continued to remain modestly driven by increased investments
in infrastructure development and petroleum reserves in emerging markets.
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Traditionally, the sector is known
to be surging ahead regardless of economic factors, owing to the evolving
multiplicity of new applications both in conventional and novel domains.
Asia-Pacific accounted for almost 40% of the global industrial gases market
value.
The industry is expected to gain
momentum post 2012, following anticipated turnaround in economic situation,
increased production and inventory levels and greater demand as consumer
confidence stabilizes. Over the longer term, annual growth rate in the
industrial gas market is expected to significantly exceed the rate of
industrial production driven by multitude of factors including opening of new
startups, rapid industrialization of emerging economies, increasing demand for
energy, environment regulations, improving healthcare sector, and advancements
in industrial technology.
Biggest players in the industry are
Linde AG, Praxair Inc., Air Liquide AG and Air Products and Chemicals Inc.
amongst others. Metal fabrication and production sector is expected to remain
the second major sector for industrial gases, next to petroleum refining.
Growth in this sector primarily
stems from increased utilization of electric arc furnaces, enhanced demand for
products manufactured using stainless steel and other advanced production
methods requiring greater usage of industrial gases. On the other hand, growth
in electronics sector and rising demand for ICs and semiconductors is forecast
to drive the consumption of bulk gases.
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