Industrial Gases Market

Increasing demand from the oil & gas industry to fuel the industrial gases market.

Demand for industrial gases has risen due to rising crude oil prices and a greater requirement for refining, particularly in the oil and gas sector. They can also be used for coiled tubing, pipe cooling and insertion, drilling, leak testing, maintenance, spool bases in pipe construction, and other things. These elements are encouraging the market for industrial gases to increase.

Industrial gases, particularly carbon dioxide, are used in EOR techniques to extract additional oil from reservoirs. Injecting carbon dioxide into oil wells helps to reduce the viscosity of crude oil, facilitating its flow and increasing the overall recovery rate.

Industrial gases like nitrogen are used for blanketing and purging operations in oil and gas storage tanks and pipelines. Nitrogen is an inert gas that helps prevent the formation of flammable mixtures by displacing oxygen and moisture, reducing the risk of explosions or corrosion. In oil production, gas lift systems use compressed gases, usually natural gas or nitrogen, to lift oil from the wellbore to the surface. Injecting gas into the wellbore reduces the hydrostatic pressure, allowing the oil to flow more easily.

The Global Industrial Gases Market Industry experiences a notable surge in demand driven by the healthcare sector. Medical gases such as oxygen, nitrous oxide, and carbon dioxide are essential for various applications, including anesthesia and respiratory therapies. The increasing prevalence of chronic diseases and the growing aging population contribute to this trend. In 2024, the market is projected to reach 1.05 USD Billion, reflecting the healthcare industry's reliance on industrial gases for patient care. This demand is anticipated to escalate further as healthcare facilities expand and innovate, thereby enhancing the overall market landscape.

Major market players are spending a lot of money on R&D to increase their product lines, which will help the Industrial Gases Market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, including new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the industrial gases market industry must offer cost-effective products to expand and survive in an increasingly competitive and rising market environment.

One of the primary business strategies adopted by manufacturers in the global industrial gases Market to benefit clients and expand the industrial gases market sector is partnerships and acquisitions. The industrial gases market is recognized as being extremely competitive and fragmented. 

The market for industrial gases offers considerable potential opportunities for domestic and unorganized companies. Some of the key players operating in the Industrial Gases Market are Linde PLC (Ireland), Air Liquide (France), BASF SE (Germany), Air Products and Chemicals Inc. (US), Messer Group GmbH (Germany), Iwatani Corporation (Japan), SOL Group (Italy), Matheson Tri-gas Inc. (US), Taiyo Nippon Sanso Corporation (Japan), and Elliniki Gases S.A. (Greece). To increase their global reach and client base, key firms are concentrating on acquisitions and product innovation.

Funder America, IncLinde Plc (Linde) is an engineering and industrial gas company. Its products include industrial, process, and specialty gases. Atmospheric gases such as oxygen, nitrogen, and argon are produced by the company, as are process gases such as carbon dioxide, helium, hydrogen, electronic gases, and acetylene. Linde also designs, engineers, and builds equipment for producing gases for internal use, and it provides a variety of gas production and processing services. Healthcare, petroleum refining, manufacturing, food, beverage carbonation, fibre optics, steel making, aerospace, chemicals and energy, electronics, and water treatment are just a few of the industries it serves.

Across APAC, EMEA, and the Americas, it operates cryogenic air separation plants, hydrogen plants, and carbon dioxide plants.

Wilsonart LLCAir Liquide is a gas, technology, and service provider for the industrial and health care sectors. The company manufactures oxygen, nitrogen, and hydrogen, as well as argon and other rare gases. These gases are supplied to customers in a variety of industries, including steel, food and pharmaceuticals, chemicals, electronics, automotive, and manufacturing. In addition, the company designs and builds processing facilities and related infrastructure. Skin disinfectants, antiseptics, and medical instrument disinfectants are all available from Air Liquide. The company's products are delivered via on-site facilities, tanker trucks, and cylinders.

It operates in Asia, the Americas, Europe, Africa, and the Middle East.