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The metal manufacturing & fabrication industry is estimated to play a key role in the gas mixtures market; this segment is projected to grow at the highest rate from 2015 to 2020.
Gas mixtures are used in electronics, fabrication of specialty alloys, lasers, metals, and other industrial applications. Food gas mixtures are used to increase the shelf life of packaged food by substituting the air in the package with a protective gas mixture. Different gas mixtures are used to improve the characteristics of many beverages such as wine, beer, and soft drinks. MarketsandMarkets projects that the global gas mixtures market size is to grow from USD 28.20 billion in 2015 to USD 36.76 billion by 2020, at an estimated CAGR of 5.44%.
The metal manufacturing & fabrication industry is estimated to account for the largest market share in the gas mixtures market and this trend is projected to follow during the forecast period. As various applications in the metal manufacturing industry use gas mixtures, the metal manufacturing & fabrication industry accounted for the highest market share. Furthermore, increase in steel consumption in the developing countries also drives the gas mixtures market in the metal manufacturing & fabrication industry. Growing medical & healthcare industry is another important factor driving the gas mixtures market.
Air separation technology in the gas mixtures market is projected to account for the largest market in terms of manufacturing process, during the forecast period. As it is one of the cost-effective and economic technology solutions for high production rate plants and the gases produced are of very high purity.
Hydrogen mixtures in the gas mixtures market is estimated to be the highest contributor in terms of mixtures. In metal fabrication, hydrogen serves as a protective atmosphere in high-temperature operations such as stainless steel manufacturing. It is generally mixed with argon for welding. Hydrogen mixtures are used in chemicals, food & beverages, and electronic applications. Oxygen mixtures are projected to grow at the highest CAGR during the forecast period. Other mixtures that are to grow at a high rate include carbon dioxide, nitrogen, and argon mixtures.