APAC Industrial Gases Market Size is predicted to reach $60.49 billion by 2030, growing at a CAGR of 6.1% during the forecast period 2024-2030 according to the latest market research report published by IndustryARC. The APAC industrial gases market is witnessing robust demand driven by expanding manufacturing sectors, particularly in the electronics, healthcare, and automotive industries. Rapid industrialization across countries like China, India, and Japan fuels the need for gases such as nitrogen, oxygen, and hydrogen for various applications including welding, metal fabrication, and medical treatments. Increasing investments in infrastructure and construction further bolster market growth, indicating a promising outlook for suppliers and manufacturers in the region, finds IndustryARC in its recent report, titled “APAC Industrial Gases Market – By Type (Nitrogen, Helium, Acetylene, Oxygen, Argon, Hydrogen, Carbon Dioxide, and Others), By Storage Method (Compressed Storage, Liquid Storage), By Distribution (On-Site, Bulk, Cylinder), By Application (Semiconductors Manufacturing, Welding, Chemical Intermediary, Metallurgy, Respiratory Support, Anesthetic, Food Preservation, Flat Panel Display, Carbonated Beverages, Packaging, Cryogenics, Others), By End-User (Metal Production & Fabrication, Building & Construction, Automotive, Semiconductor, Electronics, Oil & Gas, Chemical & Petrochemical, Healthcare & Pharmaceutical, Food & Beverages, Others), By Geography – Opportunity Analysis & Industry Forecast, 2024-2030”

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India to Register Highest Growth

India is poised to lead growth in the APAC industrial gas market due to expanding industrialization, infrastructural developments, and increasing healthcare investments. The country’s robust manufacturing sector, coupled with rising applications in healthcare, electronics, and metal fabrication industries, is driving significant demand for industrial gases. Factors such as urbanization and government initiatives promoting sustainable industrial practices further contribute to this growth trajectory. With escalating demand for oxygen, nitrogen, and carbon dioxide across various sectors, India stands as a pivotal player in the regional industrial gases market expansion.

APAC Industrial Gases Market 2024-2030: Scope of the Report

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APAC Industrial Gases Market Report – Key Takeaways:

• Oxygen Type Segment to Register the Highest Growth

By type oxygen type segment is analyzed to grow with the highest CAGR of 7.3% during the forecast period 2024-2030. Oxygen Type Segment to Register the Highest Growth. The industrial gas market in India is experiencing robust growth, driven by several factors. Integration of oxygen production facilities with renewable energy sources like solar or wind power enhances sustainability, reducing fossil fuel dependency and long-term production costs. However, industrial oxygen often exhibits lower purity levels compared to medical oxygen, limiting its applicability in critical processes such as chemical oxidation and metal cutting. Advanced logistics and supply chain management are crucial in optimizing transportation and storage, minimizing waste, and ensuring timely delivery to industries. In October 2023, Linde’s subsidiary Praxair India inaugurated a facility in Hyderabad Patancheru, capable of producing 250 tons of gases daily, including oxygen. This development caters primarily to the pharmaceutical and other industrial sectors in the region, anticipating significant market growth. The demand for industrial gases in India and the APAC region is poised to expand further, driven by industrialization, technological advancements, and increasing applications across various sectors.

• Metallurgy is Leading the Market

The metallurgy segment accounted for the largest share in 2023 and is estimated to reach $11.39 billion by 2030. In the Asia-Pacific (APAC) region, the demand for industrial gases such as oxygen, nitrogen, and argon is intricately tied to the robust growth of metallurgical industries, particularly steel and metals production. This growth is driven by sectors like construction, automotive, and infrastructure, which rely heavily on these materials. According to the Ministry of Steel, steel production rose from 81.69 MT in 2013-14 to 127.20 MT in 2022-23, showing approximately a 55.7% increase, equivalent to a Compound Annual Growth Rate (CAGR) of 5.0% over the ten years. This expansion is poised to bolster demand in the APAC Industrial Gases Market, particularly in metallurgical applications.

• Ensuring the Safety of Employees is a major challenge in the APAC Industrial Gases market

Ensuring the safety of employees remains a significant challenge within the APAC Industrial Gases market. With operations involving hazardous materials and complex machinery, strict adherence to safety protocols is crucial. Companies must implement comprehensive training programs, enforce stringent safety standards, and regularly conduct audits to mitigate risks. Additionally, fostering a culture of safety awareness among employees is essential for preventing accidents and ensuring compliance with regulatory requirements. By prioritizing safety initiatives, organizations can create a secure working environment conducive to productivity and employee well-being.

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Key Opportunity Analysis:

Rising Adoption of Industrial Gases in the Oil & Gas Industry

The growing use of industrial gases in the oil and gas industry is propelling the industrial gases market. For example, nitrogen is utilized in inverting and blanketing applications to avoid explosions and corrosion in storage tanks and pipes. Oxygen is used in a variety of processes, including oxidation, the gasification process, and combustion, to improve oil recovery and refining. Hydrotreating and hydrocracking are processes that employ hydrogen to remove impurities and enhance crude oil. Additionally, the industrial gas industry is expanding as a result of advancements in gas processing technology and rising investments in the construction of gas and oil infrastructure. For example, Air Products provides state-of-the-art industrial gas services and technology, together with over 50 years of experience, to support the oil and gas industry. This trend underscores a significant opportunity for expanding the adoption of industrial gases in the region’s oil and gas industry, supported by robust technological capabilities and sector expertise.

Increasing Investment in the Processing and Manufacturing Sectors

The APAC industrial market is expected to grow as a result of increased public and private investment, especially in developing nations, to explore new frontiers in a range of industrial sectors, such as mining, metallurgy, food and beverage, and meta. For instance, in October 2022, by long-term contracts, Air Liquide announced the building of three plants in Taiwan to deliver ultra-high purity industrial gases in substantial quantities to two of the biggest semiconductor manufacturers worldwide for their cutting-edge fabs. The Far Eastern Group and Air Liquide have formed a joint venture, Air Liquide Far Eastern, which will invest around $526.5 million in these cutting-edge production units. These investments support the growth of electronics, a critical industry for the future, and align with the Group’s strategic plan, ADVANCE. Moreover, the industrial gas market in the Asia-Pacific area has a lot of prospects due to rising investment in the manufacturing and processing sectors. Industrial gas firms position themselves for expansion and help advance industrial processes locally by comprehending and adjusting to these sectors’ changing needs.

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The Report also Covers the Following Areas:

• APAC Industrial Gases Market Size and Forecast
• APAC Industrial Gases Market Trends
• APAC Industrial Gases Market Analysis by Type
• APAC Industrial Gases Market Analysis by Storage Method
• APAC Industrial Gases Market Analysis by Distribution
• APAC Industrial Gases Market Analysis by Application
• APAC Industrial Gases Market Analysis by End-User

APAC Industrial Gases Market 2024-2030: Key Highlights

• CAGR of the market during the forecast period 2024-2030
• Value Chain analysis of key stake holders
• Detailed analysis of market drivers and opportunities during the forecast period
• APAC Industrial Gases Market size estimation and forecast
• Analysis and predictions on end users’ behavior and upcoming trends
• Competitive landscape and Vendor market analysis including offerings, developments, and financials
• Comprehensive analysis of challenges and constraints in the APAC Industrial Gases Market

Covid and Ukrainian Crisis Impact:

The APAC industrial gases market faced initial disruptions due to lockdowns and reduced industrial activities, impacting demand from sectors like manufacturing and healthcare. However, recovery was driven by increased medical oxygen needs and resuming industrial operations, especially in China and Southeast Asia, bolstering market growth post-2020.

The Ukraine crisis prompted concerns over energy security and supply chain disruptions in APAC, affecting industrial gas supply, particularly helium and natural gas imports. Geopolitical tensions and potential sanctions impacted market stability, leading to price volatility and strategic shifts in sourcing and production locations within the region to mitigate risks and ensure continuity in supply.

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List of Key Market Players in APAC Industrial Gases Market:

The APAC Industrial Gases Market is fragmented with several global and regional companies operating with expansive manufacturing capabilities and extensive distribution networks. The key companies profiled are listed below:

1. Linde PLC
2. Air Liquide S.A.
3. Taiyo Nippon Sanso Corporation
4. Air Products and Chemicals, Inc.
5. Yingde Gases
6. Iwatani Corporation
7. Air Water Inc.
8. HangYang
9. The Messer Group GmbH
10. BASF SE

Related Reports:

Specialty Gas Market: Specialty gases are prominently used in industries such as research and development, analytics, medicines, and environment production.

South East Asia Industrial Gases Market: size is estimated to reach $11.4 billion by 2030, growing at a CAGR of 6.9% during the forecast period 2024-2030. 

China Industrial Gases Market: size is estimated to reach $28.6 billion by 2030, growing at a CAGR of 6.3% during the forecast period 2024-2030.

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