Outlook on the industrial gases global market to 2027-industry analysis and demand forecast.

摘要

The"Industrial Gases Market Research Report:By Type,Delivery,End User-Global Industry Analysis and Demand Forecast to 2030"report has been added to ResearchAndMarkets.com's offering.The industrial gases market valued $92 bn in 2019,and it is set to grow at a CAGR of 5.5% during the forecast period of 2020-2030,to reach $154 bn by 2030.The increase in the revenue can be attributed to the diversified application of gases in industries,numerous government initiatives to shift toward alternative energy sources,and development of the healthcare infrastructure.Additionally,the prosperity of the food processing industry will contribute to the market growth in the future.In the food and beverage industry,gases find application in the production of decaffeinated coffee and carbonating beer and soft drinks.Apart from the food processing sector,gases are widely used in sectors such as electronics,healthcare,chemicals,heavy metal,and petroleum.For instance,the heavy metal industry employs acetylene for the oxy-acetylene flame to cut and weld metals.In addition,hydrogen is used in large volumes to manufacture chemicals and refine petroleum.The expansion in all these sectors is,therefore,expected to drive the industrial gases market growth.The end user segment of the market is categorized into metal processing,healthcare,chemical,electronics,food processing,and oil & gas and petrochemical.Amongst these,the oil & gas and petrochemical category dominated the market in 2019 due to the application of several gases in natural gas and crude oil reservoirs to provide artificial pressure to them.Additionally,the production capacity of refineries is being increased to meet the oil and gas demand from downstream sectors,including metal and chemical processing.Thus,the expansion of the oil & gas and petrochemical sector will drive the market growth in the future.