Press Release

Vietnam Industrial Gases Market to Grow with a CAGR of 4.17% through 2028

Surge in research and development activities is expected to drive the Vietnam Industrial Gases Market growth in the forecast period, 2024-2028.

According to TechSci Research report, “Vietnam Industrial Gases Market– By Region, Competition, Forecast and Opportunities, 2018-2028F”, the Vietnam Industrial Gases Market stood at USD187.38 million in 2022 and is anticipated to grow with a CAGR of 4.17% in the forecast period, 2023-2028. The initiatives taken by government based on industrial gases has led to favorable market conditions for the Vietnam Industrial Gases Market. Several factors contribute to the growth of various industrial gases market products.

The Vietnam Low Emission Energy Program II (V-LEEP II) is a notable example of a government initiative aimed at increasing the deployment of advanced energy systems in Vietnam. Through this program, the government is actively encouraging the adoption of energy-efficient and sustainable practices across various sectors. While not specifically targeted at industrial gases, V-LEEP II reflects a broader commitment to transitioning towards a greener and more sustainable energy landscape.

In alignment with its ambitious Net Zero 2050 goal, the Vietnamese government has garnered international support to accelerate its efforts. The goal includes peaking greenhouse gas emissions and implementing measures to reduce carbon footprint. As part of this endeavor, industrial processes, including the use and production of industrial gases, are expected to undergo changes to align with the country's sustainability objectives. These efforts demonstrate Vietnam's commitment to mitigating climate change and fostering a more sustainable future.


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Research and development (R&D) activities play a pivotal role in driving the growth of the industrial gases market. These activities are instrumental in enabling advancements in production technologies, which in turn pave the way for more efficient and sustainable methods of producing and utilizing industrial gases. One such area of focus for R&D efforts is the development of innovative technologies for capturing and storing carbon dioxide, a byproduct of numerous industrial processes. By investing in R&D, companies can explore new possibilities and drive the industry forward, ensuring a greener and more sustainable future.

The Vietnam Industrial Gases Market is segmented in product, mode of distribution, regional distribution, and company.

Based on its mode of distribution, the tonnage segment held the largest share in the market. Tonnage distribution is often considered a highly cost-effective solution for industries that have significant gas requirements. By opting for bulk purchases, these industries can take advantage of economies of scale, which in turn leads to reduce per-unit costs. This not only helps them save on expenses but also enhances their overall operational efficiency. The attractiveness of tonnage distribution is further amplified by the consistent supply of gases in large quantities, ensuring uninterrupted production and smooth workflow.

Based on region, Central segment is expected to grow during the forecast period.

The Vietnamese government has implemented a range of strategic initiatives to foster industrial growth, and these efforts have yielded significant benefits for the central region. Through a series of well-crafted policies, the government has successfully attracted investments, enhanced infrastructure, and promoted industrialization in this area. As a result, there has been a remarkable influx of diverse industries, leading to a substantial increase in the demand for industrial gases. This positive trend reflects the region's growing importance as a thriving industrial hub within Vietnam's economic landscape.

Major companies operating in Vietnam Industrial Gases Market are:

  • Messer Vietnam industrial Gases Co., Ltd.
  • Linde AG
  • Nippon Sanso Holdings Corp
  • SIG Group Co. Ltd.
  • Osaka Gas Co Ltd


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“Growing application of industrial gases in various end user industries are key drivers of the industrial gases market. Growth in competitive landscape and presence of well-established companies in the market who are dedicated to enhance their productivity of industrial gases with every passing year are anticipated to register an impressive growth to Vietnam Industrial Gases Market in the forecast period.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

Vietnam Industrial Gases Market By Product (Oxygen, Nitrogen, Hydrogen, Carbon Dioxide, Argon, Helium), By Mode of Distribution (Tonnage, Bulk, Packaged), By Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated the future growth potential of Vietnam Industrial Gases Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Vietnam Industrial Gases Market.


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