Industrial Gases Market in Saudi Arabia to Cross $1.6 Billion by 2021
Growing focus on oil &
gas midstream sector and increasing penetration of global players to drive
Saudi Arabia industrial gases market
According to a recently published TechSci Research
report “Saudi Arabia Industrial Gases Market By
Type, By End User, Competition Forecast and Opportunities, 2011 – 2021”, the industrial gases market in Saudi Arabia is anticipated to
cross US$ 1.6 billion / SAR 6 Billion by 2021. Growth in the market is
anticipated on account of growing demand from various end user industries such
as refinery, metallurgy, food & beverage, paper & pulp, etc., coupled
with implementation of favorable government policies to support petrochemicals
sector. Moreover, huge investments in Saudi Arabia for capacity additions at
existing end user facilities and new projects is expected to have a positive
impact on Saudi Arabia industrial gases market through 2021.
On the basis
of type, the market has been segmented into Oxygen, Nitrogen and Argon. Among
these categories, Oxygen dominated the industrial gases market in Saudi Arabia
in 2014, and is anticipated to continue its dominance through 2021, owing to
its use in a wide range of applications in the metallurgy industry, such as
welding, fabrication and other processes. Region-wise, west region is forecast
to dominate the industrial gases market in Saudi Arabia over the next five
years on account of the presence of a large number of industrial units in this
region. Moreover, the Oil-To-Chemical (OTC) complex, with an anticipated capacity
of 200,000 barrels per day, is forecast to be completed by 2020, thereby expected
to generate huge demand for industrial gases from this region.
“The Kingdom of
Saudi Arabia is the only country among the GCC nations that has allowed
participation of private players in refinery and petrochemical sectors. This
has had a huge positive influence on the country’s industrial gases market. Moreover,
industrial cities, such as Yanbu and Al Jubail,
are expected to be major consumers of industrial gases during forecast period.” said
Mr. Karan Chechi, Research Director with TechSci Research, a research based
global management consulting firm
“Saudi Arabia Industrial Gases Market By Type, By End User, Competition Forecast and Opportunities, 2011 –
2021” has evaluated the future growth
potential of industrial gases market across Saudi Arabia and provide statistics
and information on market structure, industry behavior and trend. The report
includes market projections and demand forecasting. The report is intended to
provide cutting-edge market intelligence and help decision makers take sound investment
evaluation. Besides, the report also identifies and analyzes emerging trends
along with essential drivers, challenges and opportunities available in Saudi Arabia
industrial gases market.