Demand for Industrial Gases to Reach $52 Billion by 2014, According to Report Posted on MarketResearch.com
This study focuses on the world market for industrial gases including air separation technologies, industrial gas manufacturing, and industrial gas distribution.
Rockville, MD, September 02, 2010 --(PR.com)-- MarketResearch.com has announced the addition of Freedonia Group Inc’s new report “World Industrial Gases” to their collection of Chemicals market reports. For more information, visit http://www.marketresearch.com/product/display.asp?ProductID=2751865.
World demand for industrial gases will increase eight percent annually to $52 billion in 2014. Volumetric consumption will expand five percent per year to 530 billion cubic meters in the same year, states Freedonia Group. Industrial gases are used throughout the world in numerous applications, but the nations of fastest growth will be the emerging industrial economies of the Asia/Pacific region, especially China and India. Countries with advanced, highly developed industrial economies will grow more slowly. Other developing regions (Central & South America and Africa/ Mideast) will also experience above average growth.
According to the report, industrial gases used by the chemical processing and petroleum refining industries comprise the largest gas consuming category, accounting for 40 percent of merchant industrial gas consumption. The chemical manufacturing sector uses industrial gases as feed stocks or process gases for the production of a huge array of chemicals and petrochemicals. In petroleum refining, the drive toward cleaner burning, low-sulfur fuels will stimulate demand for hydrogen. Freedonia Group reports that countries with strict mandates for clean fuel are already using voluminous amounts of hydrogen. Those where clean fuel standards are still to be implemented will require similar amounts of hydrogen, as they strive to reduce harmful environmental emissions. Much of this incremental hydrogen will be supplied by merchant producers of the gas, and the supply of merchant hydrogen to refiners represents the largest growth opportunity for this industry.
Metal production and fabricating is the second-largest market segment for industrial gas consumption, and will account for 24 percent of total demand value in 2014. Global recession caused steel output to fall drastically in recent years in many mature economies. However, as the steel industry recovers and returns to normal production levels, industrial gas demand in the metal market will register the fastest growth of any other segment (Freedonia Group). Geographically, the best growth opportunities will exist in China, Japan, the US, Germany and India.
The electronics and health care industries will exhibit the most rapid market gains. According to the report, advances in electronics applications will benefit from rising demand for semiconductors and integrated circuits used in a growing number of smart electronic devices such as cellular phones. The industry’s move toward the production of 300mm semiconductor wafers will benefit industrial gases, as will the recent focus on photovoltaic technologies. Bulk gases are used by the industry primarily as inert blanketing atmospheres. Geographically, the highest growth for electronics applications will be in China and Taiwan, although the US, Japan and South Korea also represent significant markets.
In medical and health care applications, demand will be driven by the expansion of health care services in developing nations, rapidly increasing use of home health care respiratory therapies in advanced economies, and technological advancement in medical imaging, surgical and other practices.
For more information, visit http://www.marketresearch.com/product/display.asp?ProductID=2751865
Contact:
Veronica Franco
MarketResearch.com
vfranco@marketresearch.com
240.747.3016
###
World demand for industrial gases will increase eight percent annually to $52 billion in 2014. Volumetric consumption will expand five percent per year to 530 billion cubic meters in the same year, states Freedonia Group. Industrial gases are used throughout the world in numerous applications, but the nations of fastest growth will be the emerging industrial economies of the Asia/Pacific region, especially China and India. Countries with advanced, highly developed industrial economies will grow more slowly. Other developing regions (Central & South America and Africa/ Mideast) will also experience above average growth.
According to the report, industrial gases used by the chemical processing and petroleum refining industries comprise the largest gas consuming category, accounting for 40 percent of merchant industrial gas consumption. The chemical manufacturing sector uses industrial gases as feed stocks or process gases for the production of a huge array of chemicals and petrochemicals. In petroleum refining, the drive toward cleaner burning, low-sulfur fuels will stimulate demand for hydrogen. Freedonia Group reports that countries with strict mandates for clean fuel are already using voluminous amounts of hydrogen. Those where clean fuel standards are still to be implemented will require similar amounts of hydrogen, as they strive to reduce harmful environmental emissions. Much of this incremental hydrogen will be supplied by merchant producers of the gas, and the supply of merchant hydrogen to refiners represents the largest growth opportunity for this industry.
Metal production and fabricating is the second-largest market segment for industrial gas consumption, and will account for 24 percent of total demand value in 2014. Global recession caused steel output to fall drastically in recent years in many mature economies. However, as the steel industry recovers and returns to normal production levels, industrial gas demand in the metal market will register the fastest growth of any other segment (Freedonia Group). Geographically, the best growth opportunities will exist in China, Japan, the US, Germany and India.
The electronics and health care industries will exhibit the most rapid market gains. According to the report, advances in electronics applications will benefit from rising demand for semiconductors and integrated circuits used in a growing number of smart electronic devices such as cellular phones. The industry’s move toward the production of 300mm semiconductor wafers will benefit industrial gases, as will the recent focus on photovoltaic technologies. Bulk gases are used by the industry primarily as inert blanketing atmospheres. Geographically, the highest growth for electronics applications will be in China and Taiwan, although the US, Japan and South Korea also represent significant markets.
In medical and health care applications, demand will be driven by the expansion of health care services in developing nations, rapidly increasing use of home health care respiratory therapies in advanced economies, and technological advancement in medical imaging, surgical and other practices.
For more information, visit http://www.marketresearch.com/product/display.asp?ProductID=2751865
Contact:
Veronica Franco
MarketResearch.com
vfranco@marketresearch.com
240.747.3016
###
Contact
MarketResearch.com
Veronica Franco
240.747.3016
www.marketresearch.com/
Veronica Franco
240.747.3016
www.marketresearch.com/
Contact
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