Industrial gases are produced for industrial use to increase productivity and improve operational flexibility. Some of the industrial gases are oxygen, nitrogen, argon, helium, and hydrogen. Industrial gases play a crucial role in brazing, food processing, cutting, treating metals, refining, and welding. Industrial gases like nitrogen are used in light bulb production, tyre inflation, mining, and food packaging applications. Moreover, nitrogen gas is also used in the pharmaceutical industry in the form of nitro oxide for the manufacturing of drugs.
Market Dynamics
The rise in steel crude production in Iran, the United Arab Emirates (U.A.E.), Saudi Arabia, and Qatar due to continuous investment in the construction industry is expected to accelerate the market growth of industrial gases. Moreover, growing innovation in welding, grinding, cutting, and tube machinery solutions is further expected to propel the market growth.
Growth and profitability of the industrial gases market completely depend on the demand from the end-use industries, as industrial gases are not standalone finished products. Some end user show unpredictable behavior in their demand, which impacts the demand for industrial gases. This factor is expected to restrict market growth.
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