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Asia Pacific Industrial Gases Market By Type (Nitrogen, Oxygen, Argon, Hydrogen, Carbon Dioxide, Others), By End-User Industry (Metallurgy, Welding, Medical, Chemical & Petrochemical, Food & Beverage, Others), By Distribution (On-site, Bulk, Cylinder, Other), By Country, Forecast and Opportunities, 2028

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Asia Pacific Industrial Gases Market is anticipated to grow appreciably in forecast period of 2024- 2028 due to the increasing demand for hydrogen in wide range of applications, including fuel cells, transportation, and industrial processes. Approximately 58.3% of global construction sector are accounted by China, India, US, and Indonesia, where China alone holds the 26.1% of global growth.

The Asia Pacific Industrial Gases Market is a rapidly growing market that includes the production and distribution of gases such as oxygen, nitrogen, hydrogen, carbon dioxide, and others. The region is home to some of the world's largest industrial gas companies and has seen significant growth in recent years due to several key drivers such as demand for healthcare services and favorable government policies.

Asia Pacific Industrial Gases Market is the region where manufacturing sector is expanding at high pace. Many countries in the region, such as China, India, Japan, and South Korea, have seen significant growth in their manufacturing industries over the past decade, driven by increasing demand for goods and services both domestically and internationally. Industrial gases are essential in the manufacturing process of many products, including electronics, chemicals, and metals, making the growth of the manufacturing sector a key driver of the industrial gases market in the region.

The Asia Pacific Industrial Gases Market is being driven by the region's increasing focus on renewable energy sources. With countries in the region increasingly looking to reduce their carbon footprint, there is a growing demand for industrial gases such as hydrogen, which can be used as a clean energy source. Hydrogen can be used to power fuel cells, which are being increasingly used in the automotive industry as a clean alternative to traditional gasoline-powered engines. As companies in the industry continue to invest in research and development and expand their operations in the region, the market is likely to remain highly competitive and dynamic. Therefore, Asia Pacific Industrial Gases Market is expected to continue to grow in the upcoming years.

Growing Focus on the Renewable Energy Sources in the Region is Driving the Industrial Gases Demand

The focus on renewable energy sources in the Asia Pacific region is expected to have a significant impact on the industrial gases market, particularly in hydrogen production. Hydrogen is seen as a key energy carrier for the future and has the potential to play an important role in the transition to a low-carbon energy system. It is observed that manufacturers have increased their interest in using renewable energy sources, such as wind and solar power, to produce hydrogen through electrolysis. This process involves splitting water into hydrogen and oxygen using an electrical current, with the hydrogen then used as a fuel source or stored for later use. The Asian Development Bank (ADB) signed to provide USD 107 million financing to project with BIM Wind Power Joint Stock Company (BIM Wind) to backing the operation of an 88-megawatt (MW) wind farm in Ninh Thuan province, Viet Nam. Hence, the project will need significant amount of industrial gases to convert wind into energy and propel eth demand of industrial gases.

As the demand for renewable energy sources continues to grow in the Asia Pacific region, there is likely to be an increasing demand for industrial gases, particularly hydrogen, to support the development of these technologies. In addition, the production, storage, and transportation of hydrogen require a range of industrial gases, including nitrogen and helium, which are used for cooling and pressurization. Countries such as Japan and South Korea are particularly focused on developing hydrogen as a key energy source, with both countries investing heavily in the development of hydrogen infrastructure and technologies.

In addition, other countries in the region, such as China and Australia, are increasing their focus on hydrogen production and utilization, providing opportunities for companies operating in the industrial gases market. Therefore, the focus on renewable energy sources in the Asia Pacific region is expected to drive the growth of the hydrogen segment of the industrial gases market, providing opportunities for companies to expand their operations and develop new products and services to meet the needs of the renewable energy sector and increase the Asia Pacific Industrial Gases Market growth.

Rising Demand From Construction and Manufacturing Sectors are Factor driving the Industrial Gases Market Growth

Infrastructure development is a key driver of growth in the Asia Pacific Industrial Gases Market, particularly in the construction and manufacturing sectors. The demand for industrial gases such as oxygen, nitrogen, and argon are closely tied to the growth of these sectors, as these gases are used for a range of applications, including welding, cutting, and metal fabrication. The Asia Pacific region has seen a significant increase in infrastructure development, particularly in countries such as China, India, and Southeast Asia. The development of new highways, railways, airports, and other infrastructure projects requires a range of industrial gases for activities such as welding, cutting, and metal fabrication.

Moreover, the growth of the manufacturing sector in the Asia Pacific region has been a key driver of demand for industrial gases. Manufacturing activities such as steel production, chemical processing, and electronics manufacturing require large quantities of industrial gases, with nitrogen and oxygen being among the most used industrial gases. The development of infrastructure projects such as the Belt and Road Initiative in China and the India-Japan partnership in Southeast Asia are expected to drive demand for industrial gases in the region. In addition, the growth of the electronics industry in countries such as China and South Korea is also expected to contribute to the growth of the industrial gases market. Hence, the rising construction and manufacturing activities in the region are expected to increase the demand of industrial gases and drive the Asia Pacific industrial gases market growth.


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Recent Development

Mergers & acquisitions, partnerships, and collaborations have been a significant trend in the Asia Pacific Industrial Gases Market in recent years, as companies seek to expand their market share and improve their competitiveness in the region. The consolidation of the market through mergers and acquisitions has led to increased efficiency and reduced costs for companies, and increased access to new technologies and markets.

  • In 2018, the acquisition of Linde AG and Praxair, Inc. created the world's largest industrial gas company. The merger brought together two of the largest companies in the industry, with a combined market value of over $90 billion. The merged company, Linde plc, operates in more than 100 countries and serves a wide range of industries, including healthcare, manufacturing, and energy.
  • In 2018, Taiyo Nippon Sanso Corporation acquire the Praxair's European gases business in USD 5.9 billion, which helps Taiyo Nippon Sanso Corporation to expand the company's operations in Europe who have large customer base and annual sale of approx. USD 2 billion on last year.
  • In 2020, Air Liquide and Toyota Tsusho Corporation announced a partnership to develop hydrogen infrastructure in Japan, which aims to support the development of fuel cell vehicles and reduce carbon emissions.
  • Air Liquide's investment in a new air separation unit (ASU) in Indonesia. The ASU, which is expected to start operations in 2021, will produce oxygen, nitrogen, and argon for various industries, including electronics, steel, and chemicals.

Market Segmentation

Asia Pacific Industrial Gases Market is segmented based on type, end-user, distribution, and region. Based on type, the market is fragmented into nitrogen, oxygen, argon, hydrogen, carbon dioxide, and others. Based on end user, the market is categorized into metallurgy, welding, medical, chemical & petrochemical, food & beverage, and others. Based on Distribution, the market is divided into on-site, bulk, cylinder, and other. Based on region, the market is divided into North America, Europe, Asia Pacific, South America, Middle East & Africa.

Company Profiles

Taiyo Nippon Sanso Corporation, Southern Industrial Gas Sdn. Bhd., Iwatani Corporation, BASF SE, The Linde Group, Goyal MG Gases Pvt. Ltd., Air Liquide, Asia Technical Gas Co (Pte) Ltd (ATG), Sig Gases Bhd , and  Air Products and Chemicals Shanghai Co. Ltd. are some of the key players of Asia Pacific industrial gases  Market.

Attribute

Details

Base Year

2022

Historic Data

2018 – 2021

Estimated Year

2023

Forecast Period

2024 – 2028

Quantitative Units

Revenue in USD Million, and CAGR for 2018-2022 and 2023-2028

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments covered

Type

End-User

Distribution

Country scope

China, India, Japan, South Korea, Australia, Malaysia, Singapore, Vietnam, Indonesia, Taiwan.

Key companies profiled

Taiyo Nippon Sanso Corporation, Southern Industrial Gas Sdn. Bhd., Iwatani Corporation, BASF SE, The Linde Group, Goyal MG Gases Pvt. Ltd., Air Liquide, Asia Technical Gas Co (Pte) Ltd (ATG), Sig Gases Bhd ,and  Air Products and Chemicals Shanghai Co. Ltd.

Customization scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

 

Report Scope:

In this report, Asia Pacific Industrial Gases market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:

  • Asia Pacific Industrial Gases Market, By Type:
    • Nitrogen
    • Oxygen
    • Argon
    • Hydrogen
    • Carbon Dioxide
    • Others
  • Asia Pacific Industrial Gases Market, By End User:
    • Metallurgy
    • Welding
    • Medical
    • Chemical & Petrochemical
    • Food & Beverage
    • Others
  • Asia Pacific Industrial Gases Market, By Distribution:
    • On-site
    • Bulk
    • Cylinder
    • Other
  •  Asia Pacific Industrial Gases Market, By Region:
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Malaysia
    • Singapore
    • Vietnam
    • Indonesia
    • Taiwan

Competitive landscape

Company Profiles: Detailed analysis of the major companies present in the Asia Pacific Industrial Gases market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).
Asia Pacific Industrial Gases Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]
In case you don’t find what you are looking for, please get in touch with our custom research team at [email protected]

1.    Product Overview

1.1.  Market Definition

1.2.  Scope of the Market

1.2.1.     Markets Covered

1.2.2.     Years Considered for Study

1.2.3.     Key Market Segmentations

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary

3.1.  Overview of the Market

3.2.  Overview of Key Market Segmentations

3.3.  Overview of Key Market Players

3.4.  Overview of Key Regions/Countries

3.5.  Overview of Market Drivers, Challenges, Trends

4.    Voice of Customer

5.    Asia Pacific Industrial Gases Market Outlook

5.1.  Market Size & Forecast

5.1.1.     By Value

5.2.  Market Share & Forecast

5.2.1.     By Type (Nitrogen, Oxygen, Argon, Hydrogen, Carbon Dioxide, and Others)

5.2.2.     By End User (Metallurgy, Welding, Medical, Chemical & Petrochemical, Food & Beverage, and Others)

5.2.3.     By Distribution (On-site, Bulk, Cylinder, and Other)

5.2.4.     By Region

5.2.5.     By Company (2022)

5.3.  Market Map

5.3.1.     By Type

5.3.2.     By End User

5.3.3.     By Distribution

5.3.4.     By Region

5.4.  Asia Pacific: Country Analysis

5.4.1.     China Industrial Gases Market Outlook

5.4.1.1.        Market Size & Forecast

5.4.1.1.1.           By Value

5.4.1.2.        Market Share & Forecast

5.4.1.2.1.           By Type

5.4.1.2.2.           By End User

5.4.1.2.3.           By Distribution

5.4.2.     India Industrial Gases Market Outlook

5.4.2.1.        Market Size & Forecast

5.4.2.1.1.           By Value

5.4.2.2.        Market Share & Forecast

5.4.2.2.1.           By Type

5.4.2.2.2.           By End User

5.4.2.2.3.           By Distribution

5.4.3.     Japan Industrial Gases Market Outlook

5.4.3.1.        Market Size & Forecast

5.4.3.1.1.           By Value

5.4.3.2.        Market Share & Forecast

5.4.3.2.1.           By Type

5.4.3.2.2.           By End User

5.4.3.2.3.           By Distribution

5.4.4.     South Korea Industrial Gases Market Outlook

5.4.4.1.        Market Size & Forecast

5.4.4.1.1.           By Value

5.4.4.2.        Market Share & Forecast

5.4.4.2.1.           By Type

5.4.4.2.2.           By End User

5.4.4.2.3.           By Distribution

5.4.5.     Australia Industrial Gases Market Outlook

5.4.5.1.        Market Size & Forecast

5.4.5.1.1.           By Value

5.4.5.2.        Market Share & Forecast

5.4.5.2.1.           By Type

5.4.5.2.2.           By End User

5.4.5.2.3.           By Distribution

5.4.6.     Malaysia Industrial Gases Market Outlook

5.4.6.1.        Market Size & Forecast

5.4.6.1.1.           By Value

5.4.6.2.        Market Share & Forecast

5.4.6.2.1.           By Type

5.4.6.2.2.           By End User

5.4.6.2.3.           By Distribution

5.4.7.     Singapore Industrial Gases Market Outlook

5.4.7.1.        Market Size & Forecast

5.4.7.1.1.           By Value

5.4.7.2.        Market Share & Forecast

5.4.7.2.1.           By Type

5.4.7.2.2.           By End User

5.4.7.2.3.           By Distribution

5.4.8.     Vietnam Industrial Gases Market Outlook

5.4.8.1.        Market Size & Forecast

5.4.8.1.1.           By Value

5.4.8.2.        Market Share & Forecast

5.4.8.2.1.           By Type

5.4.8.2.2.           By End User

5.4.8.2.3.           By Distribution

5.4.9.     Indonesia Industrial Gases Market Outlook

5.4.9.1.        Market Size & Forecast

5.4.9.1.1.           By Value

5.4.9.2.        Market Share & Forecast

5.4.9.2.1.           By Type

5.4.9.2.2.           By End User

5.4.9.2.3.           By Distribution

5.4.10.   Taiwan Industrial Gases Market Outlook

5.4.10.1.     Market Size & Forecast

5.4.10.1.1.         By Value

5.4.10.2.     Market Share & Forecast

5.4.10.2.1.         By Type

5.4.10.2.2.         By End User

5.4.10.2.3.         By Distribution

6.    Market Dynamics

6.1.  Drivers

6.2.  Challenges

7.    Market Trends & Developments

7.1.  Product Launches

7.2.  Mergers & Acquisitions

7.3.  Technological Advancements

8.    Asia Pacific Industrial Gases Market: SWOT Analysis

9.    Porter’s Five Forces Analysis

9.1.  Competition in the Industry

9.2.  Potential of New Entrants

9.3.  Power of Suppliers

9.4.  Power of Customers

9.5.  Threat of Substitute Application s

10. Competitive Landscape

10.1.             Business Overview

10.2.             Product Offerings

10.3.             Recent Developments

10.4.             Financials (In Case of Listed Companies)

10.5.             Key Personnel

10.5.1.    Taiyo Nippon Sanso Corporation

10.5.2.   Southern Industrial Gas Sdn. Bhd.

10.5.3.   Iwatani Corporation

10.5.4.   BASF SE

10.5.5.   The Linde Group

10.5.6.   Goyal MG Gases Pvt. Ltd.

10.5.7.   Air Liquide

10.5.8.   Asia Technical Gas Co (Pte) Ltd (ATG)

10.5.9.   Sig Gases Bhd

10.5.10.     Air Products and Chemicals Shanghai Co. Ltd.

11. Strategic Recommendations

12. About Us & Disclaimer

In case you don’t find what you are looking for, please get in touch with our custom research team at [email protected]
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What is the major driving factor for the growth of Asia Pacific Industrial Gases Market?

Increasing demand for hydrogen in a wide range of applications, including fuel cells, transportation, and industrial processes are driving the growth of Asia Pacific industrial gases market.

Who are the key players operating in the Asia Pacific Industrial Gases market?

Taiyo Nippon Sanso Corporation, Southern Industrial Gas Sdn. Bhd., Iwatani Corporation, BASF SE, The Linde Group, Goyal MG Gases Pvt. Ltd., Air Liquide, Asia Technical Gas Co (Pte) Ltd (ATG), Sig Gases Bhd, and Air Products and Chemicals Shanghai Co. Ltd. are some of the key players of Asia Pacific Industrial Gases market.

Which is the most used industrial gas?

Oxygen, hydrogen, carbon dioxide, and nitrogen are the most used industrial gases owing to their properties which make it to use in wide application and easily transportable.

What are the uses of Industrial Gases?

Industrial gases are essential material used while the manufacturing process of many products, including electronics, chemicals, and metals. Apart from these, these, gases are used in healthcare sector for treatment and for production of renewable energy.

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Press Release

Asia Pacific Industrial Gases Market to be Dominated by Petro Chemicals End-Use Type through 2028

May, 2023

Increasing demand for hydrogen in a wide range of applications, including fuel cells, transportation, and industrial processes are expected to drive Asia Pacific industrial gases market in the foreca


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