Industrial gases are also referred to as bulk gases or commodity gases; they are produced in large quantities by companies for use in a variety of industrial manufacturing processes. The industrial gas industry comprises establishments primarily engaged in manufacturing industrial organic and inorganic gases in compressed, liquid, and solid forms.
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The industrial gases market in this report is segmented by type of gas. These include hydrogen, oxygen, carbon dioxide, nitrogen and others.
Hydrogen is an active agent in oil refineries and an important ingredient in a range of other industries including chemical production, metal refining, food processing and electronics manufacturing
Oxygen is used by steel mills to oxidize unwanted impurities in the steel. Oxygen is also used in the food industry, for medical oxygen for respiration and in oxy-acetylene torches.
Carbon dioxide is used widely in the food industry for applications such as removing the caffeine from coffee beans to make decaffeinated coffee and for carbonating beer and soft drinks.
Nitrogen has two main uses: for cooling and as an inert atmosphere. Liquid nitrogen is used for cooling in many industrial processes and in the food industry.
Other gases include acetylene, helium, argon and other rare gases.
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The industrial gases industry analysis shows that the global industrial gas market size grew to approximately $70 billion in 2017 at a compound annual growth rate (CAGR) of over 2%. This growth can be attributed to factors such as emerging markets growth, technology development, and increasing applications of industrial gas in healthcare. By 2021 this market is expected to grow at a CAGR of 4.5%.
L’Air Liquide S.A held the largest industrial gas industry market share with around 25% of the market, followed by The Linde Group with around 22%, and Praxair Inc. with 15% (exact figures are mentioned in report).
Companies included in the report for the industrial gases market are L’Air Liquide S.A, The Linde Group, Praxair Inc., Air Products and Chemicals Inc. and Taiyo Nippon Sanso Corp.
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