The industrial gas market involves of the sales of industrial gases by many entities (organizations, sole traders or partnerships) that produce industrial organic and inorganic gases in compressed, liquid, and solid forms. Industrial gases are also mentioned to as bulk gases or commodity gases.
According to the report analysis, ‘Industrial Gas Global Market Report 2020-30: Covid 19 Impact and Recovery’ states that Air Liquide; The Linde Group; Praxair, Inc.; Air Products and Chemicals Inc.; Mitsubishi Chemical Holdings Corp and several others are the key corporates which presently functioning in industrial gas global market more effectively for leading the highest market growth and dominating the handsome value of market share around the globe during the near future while increasing the applications and specifications of such, delivering the better consumer satisfaction, employing the young and active personnel, analysing the strategies and policies of government as well as corporates, spreading the awareness connected to the applications and specifications of such, improving the qualitative and quantitative measures of such, decreasing the linked prices of such, and implementing the policies of enlargement and profit making.
The food and beverage industry is progressively using food-grade industrial gases to keep the food products safe and fresh. Food grade gases are great purity gases conforming with food grade standards. Food grade industrial gases comprise nitrogen, oxygen, and carbon dioxide which are utilized to chill, freeze and package a diversity of food products such as dairy and frozen products, beverages, fruits and vegetables, meat, fish, seafood, convenience food, bakery and confectionery. The requirement of health-conscious consumers for fewer additives, harmless and fresher food products also augment the requirement for industrial gases, which can sometimes be utilized in place of chemical ingredients.
The growth of the market is principally attributed to the increasing manufacturing industry in the underdeveloped economies of Asia Pacific. Moreover, the effective augment in industrialization and urbanization, coupled with the growing application of industrial gases in several industries, such as healthcare, metals and mining, and food and beverages, are predicted to influence the market growth during coming years. Electronic applications of industrial gas are observing strong growth on account of the high requirement for flat panel displays, semiconductors, and printed electronics.
Moreover, the usage of industrial gas in the electronics (photovoltaic) industry for the producing of semiconductors, solar, displays, LED solid-state lighting, wafers, and polysilicon induce the growth prospects for this market. Clean energy, predominantly solar PV, is embryonic as an eminent source of clean energy generation, thus fascinating investments globally. Such gases substantially decrease the manufacturing costs, which is poised to augment their implementation over the forecast period.
The organized players in industrial gas market are effectively implementing the policies of enlargement such as partnership, new product development, amalgamation, joint venture, merger and acquisition and several others for generating the high percentage of revenue and obtaining the competitive edge. Therefore, in the near years, it is predicted that the market of industrial gases will increase around the globe more effectively over the incoming years.
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Ankur Gupta, Head Marketing & Communications