The Global Industrial Gas Market Will Benefit From its Applications In Healthcare, Growing at 6.4% a Year to 2022
LONDON, July 30, 2019 /PRNewswire/ -- TheBusinessResearchCompany.com offers Industrial Gas Market By Product Types (Hydrogen, Oxygen, Carbon Dioxide, Nitrogen), By End User Industry (Chemicals, Metallurgy, Manufacturing, Food And Beverage, Healthcare And Others), By Companies And By Regions - Global Forecast To 2022" from its research database.
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New developments are taking place in healthcare with increasing emphasis on a healthier, better quality of life. The industrial gas oxygen is used in medical facilities to aid in the treatment of hypoxemia and hypoxia. Carbon dioxide is used for insufflation and is often combined with oxygen or air as a respiratory stimulant to promote deep breathing. In addition to oxygen, nitrous oxide, nitric oxide, and other industrial gases such as hydrogen, helium and xenon are being prepared for clinical use in pharmaceutical-based products. Treatments and drug developments using induced pluripotent stem cells (IPS) will bring new added value to the industry through the application of systems using gases such as carbon dioxide and liquid nitrogen. This is indispensable for the cultivation and preservation of cells and tissues and is driving the demand for high grade industrial gases. The global industrial gas market will grow from $98 billion in 2018 to $125.2 billion in 2022 at an annual rate of 6.4%. Read More On Industrial Gas Market Report @ https://www.thebusinessresearchcompany.com/report/industrial-gas-market
Industrial Gases Are Replacing Chemical Ingredients In Food Products
The global industrial gas market is also benefitting from rising consumer demand for freshness in food products. Health-conscious consumers are demanding fewer additives and safer and fresher food products, which increases the demand for industrial gases that can be used in place of chemical ingredients. As a result, the food and beverage industry is buying increasing quantities of food-grade industrial gases which are used to chill, freeze, and package a variety of food products such as dairy and frozen products, beverages, fruits, vegetables, meat, fish, seafood, convenience foods, bakery and confectionery. Food-grade gases are high purity gases that comply with food grade standards; they include nitrogen, oxygen, and carbon dioxide.
Key Market Segmentations By End Use Industry And By Type Of Gas
By end user industry, manufacturing is the largest segment of the global industrial gas market, mainly due to manufacturing demand for industrial gases such as nitrogen and hydrogen. For instance, in the automotive industry, nitrogen in combination with other welding gases is used to weld auto parts, frames, mufflers, and other components. Nitrogen is also used in high Reynolds number wind tunnels, heat treating furnaces and autoclaves, and to help create strong and lightweight materials. Hydrogen is used in the manufacture of heat-treating furnaces and parts. Metallurgy is the second-largest end-user segment, mainly due to the use of oxygen to increase combustion efficiency in both ferrous and non-ferrous metal production. CO(2) is used as a shielding gas that prevents atmospheric contamination of molten metal in electric arc welding processes.
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By type of gas, nitrogen is the largest segment of the global market for industrial gases, followed by oxygen, hydrogen and carbon dioxide in that order. However, this varies considerably by region and country. For instance, whereas nitrogen followed by oxygen are the largest segments in Asia Pacific, that order is reversed for Western Europe. Similarly, whereas China's market for nitrogen is its largest segment, in Japan, oxygen is the largest segment and accounts for a higher proportion of the total than nitrogen does in China. These variations follow from the differing importance of the end user industries in different regions and countries.
Industrial gases are themselves a segment of the larger chemicals market. The gas segment has been growing much faster than the wider market, a trend that is expected to continue despite acceleration of the chemicals market growth.
Stringent Regulations Affect Industrial Gas Companies' Profit Margins
Many national and state governments have stringent laws associated with industrial gas manufacturing, storage and distribution to prevent accidents and contamination. For instance, the Current Good Manufacturing Practices (CGMPs) are regulations enforced by the US Food and Drug Administration to monitor the quality of medical gases. The CGMPs regulate proper monitoring and control of manufacturing processes and facilities in the medical gases industry. Some of these regulations increase operational costs, thereby affecting the profit margins of industrial gas manufacturers. Again, European Union safety regulation REACH (registration, evaluation, authorization, and restriction of chemicals) stipulates that all chemical substances must be registered. CLP (classification, labelling and packaging of substances and mixtures) is another European Union safety regulation that focuses on the safety of consumers and workers. Complying with these regulations tends to increase the operational costs of industrial gas companies, thereby affecting their profit margins.
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