Industrial gases, also known as specialty gases, refers to a group of gases which are particularly manufactured for the use in various industries such as petrochemicals, power, steelmaking, environmental protection, pharmaceuticals, food, fertilizers, electronics, oil & gas, chemicals, mining, metals, medicine, biotechnology, water, nuclear power and aerospace. Industrial gases are used to produce final output and improve operational efficiency.
Industrial gases are manufactured at ambient pressure and temperature and they have low molecular weight. Most of the industrial gases such as medical oxygen, balloon helium, welding gases, dispensing
gases for beer kegs and liquefied petroleum gas (LPG) are distributed in gas cylinders. Industrial gases are also available in hand carried small gas containers such as cylinders, bottles, capsules, cartridges and canisters.
The global industrial gases market is segmented into atmospheric gases, elemental gases, noble gases and other gases. Atmospheric gases include argon, nitrogen and oxygen, whereas hydrogen, fluorine and chlorine are the segments of elemental gases. The noble gases segment is further divided into helium, xenon, neon and krypton. Other gases include ammonia and acetylene. Hydrogen gas segment holds the largest market share and is expected to further grow in future due to its wide range of applications such as electricity generation, ammonia production, agriculture, fossil fuel processing and others. Oxygen and nitrogen segments are also expected to grow faster.
The industrial gases are also used in manufacturing of photovoltaic (PV) panels. They make the PV panel manufacturing process efficient by optimising wafer production hence reduces the overall manufacturing cost.
Factors such as growing population and rapid industrialization are primarily driving the global industrial gases market. Additionally, increasing demand for industrial gases from construction, healthcare, chemicals and other industries are also expected to further boost the market growth. However, transportation cost and high storage space requirement for industrial gases are some of the major restraints for the industrial gases market.
ASDReport.com offers an extensive repository of reports on industrial gases market. The reports cover various sub-segments and types of industrial gases like specialty gases, industrial gas regulators, noble gases and much more.