Industrial Gases for Metals & Metal Fabrication Market Set to Surge to USD 79.92 Billion by 2030
The global Industrial Gases for Metals & Metal Fabrication Market is projected to grow from USD 54.22 billion in 2023 to USD 79.92 billion by 2030, registering a CAGR of 5.7% during the forecast period. This growth is driven by increasing demand in the automotive, aerospace, and heavy machinery sectors. Notably, the nitrogen segment is anticipated to witness the highest CAGR of nearly 5.8%, owing to its extensive use in creating controlled atmospheres for metal processing. The cylinder & sealed delivery segment is also expected to grow significantly, with a CAGR of approximately 44.82%, due to its cost-effectiveness and compliance with safety standards. The Asia-Pacific region is leading the market, accounting for about 43.5% of the global share in 2023, followed by Europe and North America. Rapid industrialization in countries like China and India is a key factor contributing to this dominance. China alone is forecasted to reach a market size of USD 14.7 billion by 2026, growing at a CAGR of 9.4%.
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Competitive Landscape and Regional Demand
The market is characterized by the presence of major players such as Linde plc, Air Liquide, Messer Group, and Air Products. These companies are focusing on mergers and acquisitions to expand their global footprint. For instance, Air Liquide has invested in a new hydrogen production facility in Canada, while Messer acquired the UK-based industrial gases supplier, BOC. The demand for industrial gases is notably higher in the Asia-Pacific region, driven by the expansion of end-use industries in key markets like India, China, South Korea, and Japan. In India, the industrial gases market is expected to grow at a CAGR of 12.32%, with industrial oxygen alone growing at nearly 15-17% CAGR, correlating with the growth of the steel and metallurgical sectors.
Growth and Opportunity in the United States
The United States holds a significant position in the industrial gases market, with a strong presence of manufacturers and a resilient demand from the healthcare industry. The industrial gas industry contributes to 25% of the U.S. GDP and employs over 60,000 workers. Recent developments include Linde plc‘s acquisition of Praxair, enhancing its market share and technological capabilities. Additionally, Air Liquide has expanded its operations with new facilities to meet the growing demand.
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Trends and Consolidation in Asia-Pacific
Asia-Pacific is witnessing accelerated sales, with China maintaining the leading position. The region dominated the industry with a revenue share of 36.64% in 2024 and is projected to be the fastest-growing region, with a CAGR of 9.8% over the forecast period. The growth is driven by the expansion of end-use industries in key markets like India, China, South Korea, and Japan. In India, the industrial gases market is expected to grow at a CAGR of 12.32%, with industrial oxygen alone growing at nearly 15-17% CAGR, correlating with the growth of the steel and metallurgical sectors. Major players like BOC India, INOX Air Products Ltd., and Jindal Praxair Oxygen Co. Ltd. hold significant market shares in the region.
Consolidation and Updation in the Middle East and Africa
The Middle East and Africa are experiencing growth in the industrial gases market due to investments in the oil and gas sector and increasing demand in the construction industry. Companies like Gulf Cryo are expanding their operations to cater to the growing demand. The region is also focusing on adopting advanced technologies to enhance production efficiency and meet environmental regulations.
Growth and Trends in Europe
Europe holds a significant share in the industrial gases market, with countries like Germany, France, and the UK leading in production and consumption. The region is witnessing trends towards sustainability and innovation, with companies like Messer Group investing in research and development. The market is also influenced by stringent environmental regulations, prompting companies to adopt cleaner technologies and processes.
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Market Segmentation: In-Depth Analysis:
by Type
Nitrogen
Oxygen
Hydrogen
Carbon dioxide
Throughout the projected period, the nitrogen sector is anticipated to increase at the highest CAGR of around 5.8% by type. The environment created by gases like argon and nitrogen allows metal components used in the automotive and aerospace industries to be constructed to the rigorous specifications that these parts need.
by Transportation Mode
Merchant liquid distribution
Tonnage distribution
Cylinder & packaged gas
The segment for cylinder and sealed delivery by transportation mode is anticipated to expand at the highest CAGR of over 44.82% over the course of the projected period. Due to factors including cheap cost, quick delivery, stringent safety regulations, and compliance with all types of industrial gases, it is anticipated to increase at a moderate CAGR of 6.06 percent throughout the projection period.
by End-user
Metal
Automotive
Aerospace
Heavy industries
Rail and shipping
Defense
In 2023, the metal industry category held the largest share by end-user, accounting for 34.28% of all industrial gases in the metals and metal fabrication market.
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Market Key Players : In-Depth Analysis:
1. Praxair, Inc. (U.S.)
2. Airgas, Inc. (U.S.)
3. Air Liquide S.A. (France)
4. Air Products and Chemicals, Inc. (U.S.)
5. Iwatani Corporation (Japan)
6. Messer Group (Germany)
7. The Linde Group (U.S.)
8. nexAir LLC (U.S.)
9. Taiyo Nippon Sanso Corporation (Japan)
10. Southern industrial Gas Sdn. Bhd. (Malaysia)
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