Asia Pacific Industrial Gases Market to Grow at Steady Rate During Forecast Period

Increasing investments in automobile and aerospace industry to drive growth of Asia-Pacific industrial gases market through 2024

According to TechSci Research report, Asia Pacific Industrial Gases Market By Type, By Usage, By Mode of Distribution, By Function, By Application, By Country, Forecast & Opportunities, 2024, the Asia-Pacific industrial gases market is expected to grow at a steady rate during the forecast period on account of the rapidly growing construction and infrastructural industry in the region. Additionally, rise in industrial activities and growth in manufacturing units producing different types of industrial gases for various end user industries. However, emission of industrial gases into the atmosphere is causing the problems like global warming and ozone layer depletion which is likely to hamper the growth of the market during forecast period.

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The Asia-Pacific industrial gases market is segmented based on type, usage, mode of distribution, function, application, country and company. Based on type, the market can be fragmented into oxygen, nitrogen, argon, hydrogen, carbon-dioxide and others. Nitrogen is expected to witness significant growth during forecast period owing to its expensive use in wide range of applications such as lasing gas mixture, petrochemicals for instrumentation, calibration gases, among others. Based on mode of distribution, the market can be categorized into tonnage, bulk and packaged. The packaged segment is expected to dominate the market attributable to its versatility, flexibility and mobility. Based on function, the market can be grouped into coolant, intermediate, insulators and others. The intermediate segment is expected to witness significant growth during forecast period on account of growing use of industrial gases as an intermediate to carry out various chemical reactions. Based on application, the market can be segmented into metallurgy, welding, medical, chemical & petrochemical, food & beverage and others. Among these, metallurgy segment is expected to dominate the market during forecast period. This can be ascribed to the growing use of cutting and welding gases in metal working and welding applications.

Taiyo Nippon Sanso Corporation, Southern Industrial Gas Sdn. Bhd., Iwatani Corporation, BASF SE, The Linde Group, Goyal MG Gases Pvt. Ltd., Air Liquide, Asia Technical Gas Co., (Pte) Ltd (ATG), Sig Gases Bhd, Air Products and Chemicals Shanghai Co. Ltd. and others are some of the leading players operating in Asia-Pacific industrial gases market. The companies operating in the market are using organic strategies such as product launches, mergers and collaborations to boost their share.

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“The industrial gases market in Asia-Pacific is expected to witness substantial growth during the forecast period due to growth of several associated end user industries in the region. Additionally, increasing technological advancements in the healthcare industry has given rise to the demand for production of industrial gases which in turn is driving the industrial gases market in the region” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

Asia Pacific Industrial Gases Market By Type, By Usage, By Mode of Distribution, By Function, By Application, By Country, Forecast & Opportunities, 2024 has evaluated the future growth potential of Asia-Pacific industrial gases market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in Asia-Pacific industrial gases market.

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