Global Industrial Gases Market for Glass Industry 2017-2021
About Industrial Gases Market for Glass Industry
Industrial gases are a group of elemental gases or chemical gases (inorganic or organic) that usually have a low molecular weight. These gases are used significantly for specific industrial applications. Nitrogen, carbon dioxide, oxygen, hydrogen, and acetylene are the commonly used industrial gases. Glass is widely used in construction, automotive, packaging, and other applications. Rising consciousness regarding health and environment have made glass the preferred packaging material. Glass is widely employed to package food and beverages and medicines owing to the inert nature of glass.
Technavio’s analysts forecast the global industrial gases market for glass industry to grow at a CAGR of 6.32% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global industrial gases market for glass industry for 2017-2021. To calculate the market size, the report considers the retail selling price as the average selling price for the product.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Industrial Gases Market for Glass Industry 2017-2021
Technavio recognizes the following companies as the key players in the global industrial gases market for glass industry: Air Liquide, Air products and Chemicals, Linde Group, Messer Group, and Praxair.
Other Prominent Vendors in the market are: CRYOTEC Anlagenbau, Gulf Cryo, Matheson Tri-Gas, Taiyo Nippon Sanso, and Welsco.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is increasing use of glazed and insulated glass in green buildings. Various human activities have led to the increased consumption of natural resources and have also led to global warming and pollution. Various initiatives are being undertaken to reduce environmental deterioration and energy consumption. Green building or environment-friendly building is one such sustainable initiative that is gaining prominence globally. These buildings employ environment-friendly materials, such as wood, bricks, paper insulation, solar tiles, sustainable concrete, environment-friendly glass that will reduce the consumption of electricity, thereby reducing emissions.”
According to the report, one of the major drivers for this market is increased demand from building and construction industry. The global building and construction industry is growing significantly due to population growth, increasing urbanization, and rising disposable incomes of individuals. The output of the global building and construction industry is anticipated to grow by more than 80% to $15.5 trillion in 2030. India, China, and the US are expected to account for more than 50% of the shares. The transformation of the global economy to a consumer and service-centered economy has created many opportunities for growth in the construction of education, healthcare, and commercial infrastructure.
Further, the report states that one of the major factors hindering the growth of this market is high production cost and uncertain return on investments. The primary challenge for the vendors in the global industrial gases market is the profit margins in view of volatile prices and rising cost of production. The major cost attributes in this business are energy, storage, and distribution costs. Of the three modes of distribution, tonnage, merchant, and packaged supplies, tonnage is a lucrative segment for vendors because of assured demand and low variable costs.
Air Liquide, Air products and Chemicals, Linde Group, Messer Group, Praxair, CRYOTEC Anlagenbau, Gulf Cryo, Matheson Tri-Gas, Taiyo Nippon Sanso, and Welsco.
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