Oxygen and Nitrogen to Dominate China Industrial & Specialty Gases Market during 2016 – 2021
Anticipated
growth in end use industries coupled with capacity additions due to existing as
well as new gas production units to drive China industrial & specialty
gases market until 2021
According to a recently published TechSci Research report “China
Industrial & Specialty Gases Market By Market Type, By Mode of Distribution, By Third
Party Sale of Equipment, Competition Forecast & Opportunities, 2016 – 2021”, oxygen and
nitrogen are expected to dominate China industrial & specialty gases market
during forecast period, owing to their extensive usage in huge and fast growing
steel industry in the country. Nitrogen is also witnessing huge demand in the
country due to large scale production of ammonia, which is usually used in the preparation of ammonium
sulphate, a widely used fertilizer in the country. In 2015, China produced around 44.28 million tons of ammonia,
and accounted for around 35.4% of global ammonia consumption.
Oxygen, as an industrial
gas, is majorly used for combustion in steel industry. In 2017, China’s crude
steel production is estimated to reach 825 million metric tons. The country’s domestic
consumption of steel, alone, is anticipated to account for 87% of total steel
produced in the country, thereby making China the largest steel market in the
world. China is home to major steel companies such as Nippon Steel &
Sumitomo Metal Corporation (NSSMC), Hebei Iron and Steel Group, Baosteel, and
Wuhan Iron and Steel Group. Demand for industrial oxygen gas in China is
expected to increase in the coming years on account of growing demand for
China-made steel in domestic as well as global markets.
“China chemicals industry is one of the major contributors to
the country’s GDP. A number of international chemical companies such as BASF,
Dow, Evonik, LG Chem and Mitsui Chemicals have been heavily investing in
R&D and chemical production in the country. BASF has announced plans to
invest around $ 11 billion in Asia-Pacific, with a majority of these
investments planned in China. Moreover, China’s ambitious plans to expand its integrated
circuit industry through infusion of around $ 100 billion by 2020 would also spur
demand for industrial & specialty gases in the coming years.”, said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting firm.
“China
Industrial & Specialty Gases Market By Market Type, By Mode of
Distribution, By Third Party Sale of Equipment, Competition Forecast &
Opportunities, 2016 – 2021” has evaluated China industrial & specialty gases market and
has provided the statistics and information on market structure, industry behaviour
and trend. The report includes market projections and demand forecasting for industrial
& specialty gases as well as third party sale of equipment. The report is
intended to provide cutting-edge market intelligence and help decision makers
to take sound investment evaluation. Besides, the report also identifies and analyses
emerging trends along with strategic recommendations for China industrial &
specialty gases market.
About TechSci Research
TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
Email: [email protected]