TechDogs-"Global Industrial Gases Industry Report 2023-2028: Booming Healthcare And Food Processing Industries And Growing Investments In New Applications Fuels Market Expansion"

Market Research

Global Industrial Gases Industry Report 2023-2028: Booming Healthcare And Food Processing Industries And Growing Investments In New Applications Fuels Market Expansion

By PR Newswire

PR Newswire
Overall Rating

DUBLIN, Aug. 8, 2023 /PRNewswire/ -- The "Industrial Gases Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F Segmented By Type, By End User, By Distribution, By Region, and Competition" report has been added to  ResearchAndMarkets.com's offering.

The Global Industrial Gases market is set to experience significant growth in the forecast period of 2028, driven by a surge in demand for industrial gases in emerging economies, the expanding healthcare and food processing industries, and increasing investments in the development of new applications for these gases.

Notably, the COVID-19 pandemic has underscored the critical importance of oxygen supply systems, with the World Health Organization calling for increased investments to ensure hospitals have sufficient oxygen supplies to meet future demands.

The industrial gases market serves various sectors, including healthcare, manufacturing, energy, and chemicals, providing gases like oxygen, nitrogen, hydrogen, argon, and carbon dioxide for numerous applications such as welding, food processing, medical treatment, and refrigeration.

Major players in the industry, like Air Liquide, Linde plc, Air Products and Chemicals, Inc., and Messer Group GmbH, are heavily investing in research and development to explore new applications and expand their product offerings to meet the growing demands from various end-use industries.

This favorable landscape is poised to drive the demand for industrial gases on a global scale in the forecasted period.

Growing Demand from Healthcare and Pharmaceuticals is Driving the Market Growth

The pharmaceutical industry relies on industrial gases in various stages of drug development and manufacturing. In recent years, there has been increasing interest in the use of industrial gases in the healthcare industry for medical applications such as cryotherapy, which involves the use of extreme cold temperatures to treat various medical conditions.

This has led to collaborations between companies in the healthcare and industrial gases industries to develop new products and therapies. Therefore, while the healthcare and pharmaceuticals industry and the industrial gases market are distinct industries, there are some areas of overlap and potential for collaboration in the development of new products and therapies.

This development led to an increase in the demand for industrial gases from the healthcare and pharmaceuticals sector, driving the global industrial gas market growth.

Industrial gases such as oxygen, nitrogen, and carbon dioxide play a crucial role in the healthcare and pharmaceutical industries. Different industrial gases are used in the healthcare sector for the treatment process. For example, oxygen is used in hospitals to treat patients with respiratory issues. It is also used during surgical procedures as a component of anesthesia.

In the pharmaceutical industry, oxygen is used in various stages of drug development and manufacturing, including fermentation and cell culture. For example, a hospital with 200 beds may use approximately 1,000 cubic meters of oxygen per day. Nitrogen is used in hospitals for cryotherapy, a medical treatment that involves the use of extremely cold temperatures to treat various medical conditions, such as skin lesions and cancer.

Nitrogen is used in the pharmaceutical industry for various purposes, such as freezing and storing biological samples and stabilizing drugs. Carbon dioxide is used in hospitals as a component of respiratory therapy and as a coolant in surgical procedures. In the pharmaceutical industry, carbon dioxide is used in various stages of drug development and manufacturing, such as for the purification of active ingredients.

Overall, industrial gases play a critical role in the healthcare and pharmaceutical industries, and their uses are diverse and far-reaching. Hence, the global industrial gas market is expected to rise significantly in the forecasted period.

Rising Demand from the Chemical and Petrochemical Industries are Market Driving Factors

The industrial gases market includes companies involved in the production and distribution of gases such as oxygen, nitrogen, and helium, which are used in a wide range of industrial applications such as metal fabrication, chemical production, and healthcare. This industry is driven by factors such as economic growth, industrial production, and environmental regulations.

Approximately 14.8 million metric tons of nitrogen gas and 9.2 million metric tons of oxygen gas were produced in the United States in 2020. The chemical and petrochemical industries are heavy users of industrial gases, which play a critical role in their production processes. Industrial gases in chemical and petrochemical industries are used for different purposes.

For example, nitrogen is used in the chemical and petrochemical industries for various applications, such as blanketing and purging of storage tanks and pipelines, inerting of reactors, and cooling of process streams. Oxygen is used in the chemical and petrochemical industries for various applications, such as oxidation reactions and combustion processes.

It is also used in wastewater treatment to enhance the efficiency of biological treatment systems. Hydrogenation reactions, desulfurization of crude oil and natural gas, and as a fuel for power generation are among various applications of chemical and petrochemical industries where hydrogen is needed.

Carbon dioxide is used in the chemical and petrochemical industries for various applications, like a feedstock to produce chemicals, such as urea and methanol, and as a cooling agent. Apart from these, other industrial gases such as helium and argon are also used in the chemical and petrochemical industries for various applications, such as cooling and purging.

Therefore, industrial gases are essential for the chemical and petrochemical industries, and their use is critical for efficient and safe production processes, thereby propelling the demand for industrial gases worldwide.

Favorable Government Policies as a Key Supporting Factor for the Industrial Gases Market Growth

Government policies on industrial gases vary by country and region, but its main aim is to ensure the safe handling, transportation, storage, and use of industrial gases while also minimizing their impact on the environment and public health.

Governments may offer subsidies or tax incentives to promote the production and use of industrial gases that either have environmental benefits or support specific industries.

For example, the US government offers tax credits for the production and use of hydrogen fuel cells, which are powered by hydrogen gas. These factors led to an increase in the production and demand of industrial gases globally in the upcoming period.

Increasing Technological Advancements Driving the Innovation and Increasing the Market Demand

Technological advancements have played a significant role in the industrial gas industry by driving innovation, improving efficiency, and creating new applications. Some examples are:

Gas Separation Technologies: Advances in gas separation technologies have enabled the production of ultra-pure industrial gases with high levels of purity and reliability. This has been particularly important for the electronics and semiconductor industries, which require high-purity gases for their manufacturing processes.

Cryogenic Technologies: Cryogenic technologies have enabled the production and storage of industrial gases at very low temperatures, which has opened new applications in areas such as medical and scientific research, food freezing, and rocket propulsion.

Gasification Technologies: Gasification technologies have enabled the conversion of coal, biomass, and other feedstocks into gases such as hydrogen and syngas, which can be used for power generation, chemical production, and other applications.

Process Control and Automation: Process control and automation technologies have improved the efficiency and safety of industrial gas production and distribution, reduced costs, and improved product quality.

Digitalization and Data Analytics: Digitalization and data analytics technologies have enabled the collection and analysis of data from industrial gas production and distribution processes, allowing companies to optimize their operations and improve their products and services.

Competitive landscape

Company Profiles: Detailed analysis of the major companies present in the global Industrial Gases market.

  • Air Liquide SA
  • Air Products and Chemicals Inc.
  • Asia Technical Gas Co Pte Ltd.
  • BASF SE
  • Bhuruka Gases Limited
  • Ellenbarrie industrial Gases Ltd.
  • Sapio Life Srl
  • IBO INDUSTRIA BRESCIANA OSSIGENO Srl
  • Iwatani Corporation
  • Linde PLC
  • Messer Group Inc.
  • Aneka Gas Industries PT

Report Scope:

Industrial Gases Market, By Type:

  • Nitrogen
  • Oxygen
  • Argon
  • Hydrogen
  • Carbon Dioxide
  • Others

Industrial Gases Market, End User:

  • Metal Production & Fabrication
  • Automotive
  • Chemical & Petrochemical
  • Healthcare & Pharmaceuticals
  • Food & Beverages
  • Others

Industrial Gases Market, By Distribution:

  • On-site
  • Bulk
  • Cylinder
  • Others

Industrial Gases Market, By Region:

  • North America
  • United States
  • Mexico
  • Canada
  • Europe
  • France
  • Germany
  • United Kingdom
  • Spain
  • Italy
  • Asia-Pacific
  • China
  • India
  • South Korea
  • Japan
  • Australia
  • South America
  • Brazil
  • Argentina
  • Colombia
  • Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE

For more information about this report visit https://www.researchandmarkets.com/r/acfna2

About ResearchAndMarkets.com

ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:

Research and Markets

Laura Wood, Senior Manager

press@researchandmarkets.com

For E.S.T Office Hours Call +1-917-300-0470

For U.S./CAN Toll Free Call +1-800-526-8630

For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907

Fax (outside U.S.): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

View original content:https://www.prnewswire.com/news-releases/global-industrial-gases-industry-report-2023-2028-booming-healthcare-and-food-processing-industries-and-growing-investments-in-new-applications-fuels-market-expansion-301895796.html

SOURCE Research and Markets

First published on Wed, Aug 9, 2023

Liked what you read? That’s only the tip of the tech iceberg!

Explore our vast collection of tech articles including introductory guides, product reviews, trends and more, stay up to date with the latest news, relish thought-provoking interviews and the hottest AI blogs, and tickle your funny bone with hilarious tech memes!

Plus, get access to branded insights from industry-leading global brands through informative white papers, engaging case studies, in-depth reports, enlightening videos and exciting events and webinars.

Dive into TechDogs' treasure trove today and Know Your World of technology like never before!

Disclaimer - Reference to any specific product, software or entity does not constitute an endorsement or recommendation by TechDogs nor should any data or content published be relied upon. The views expressed by TechDogs’ members and guests are their own and their appearance on our site does not imply an endorsement of them or any entity they represent. Views and opinions expressed by TechDogs’ Authors are those of the Authors and do not necessarily reflect the view of TechDogs or any of its officials. All information / content found on TechDogs’ site may not necessarily be reviewed by individuals with the expertise to validate its completeness, accuracy and reliability.

Tags:

ResearchAndMarkets Gases In Emerging Economies Food Processing Healthcare Pharmaceuticals

References:

Join The Discussion

  • Dark
  • Light