Global Industrial Gases Market for Metals and Metal Fabrication Market 2017-2021
About Industrial Gases Market for Metals and Metal Fabrication
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. The global industrial gases market is growing significantly since 2010. Asia-Pacific (APAC) accounts for a larger proportion of the market share. The market growth in the region can be attributed to the industrial development in the emerging countries, such as China and India.
Technavio’s analysts forecast the global industrial gases market for metals and metal fabrication market to grow at a CAGR of 6.25% 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 metals and metal fabrication market 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 Metals and Metal Fabrication Market 2017-2021
Technavio recognizes the following companies as the key players in the global industrial gases market for metals and metal fabrication market: 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 demand for integrated distribution channel. The demand for integration distribution is increasing in the global industrial gases market. The vendors in the market can integrate various distribution channels, including merchant gases, on-site gases, and packaged cylindrical gases through this approach.”
According to the report, one of the major drivers for this market is increased demand from end-user industries. Industrial gases can be used for various applications in process, metal, and manufacturing industries. In the metal and manufacturing industries, these gases are widely used for the production and fabrication of metals. Industrial gases such as oxygen, nitrogen, hydrogen, acetylene, and argon are used for steel production and huge amount of oxygen is consumed for iron production. Argon is widely used as a welding and shielding gas in metal fabrication industries.
Further, the report states that one of the major factors hindering the growth of this market is high cost of production and uncertain return on investments. The primary challenge for the vendors in the global industrial gases market is the profit margins in view of the price fluctuations and rising cost of production. The production of noble gases through atmospheric air separation is an energy-intensive and noble gases are yielded in trace amounts with major products being nitrogen, hydrogen, and oxygen.
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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