Industrial Gases Market to Record CAGR of 5.86% Over 2025-2032; Increasing Demand for Hydrogen to Support Market Growth

The global industrial gases market size was valued at USD 109.36 billion in 2024 and is predicted to reach USD 115.47 billion in 2025. The market is anticipated to touch USD 172.00 billion, recording a CAGR of 5.86% over 2025-2032.

Fortune Business Insights™ presents this information in its latest report titled “Industrial Gases Market Size, Share & Industry Analysis, By Gas Type (Oxygen, Nitrogen, Carbon Dioxide, Hydrogen, Argon, and Others), By Application (Packaging, Coolant, Carbonation, Cryogenic, Cutting & Welding, Laboratory, Air Separation, and Others), By End-User (Metallurgy, Healthcare, Chemical, Food and beverage, Oil & Gas, Power, Pulp and Paper,

Electronics, Water Treatment, Mining, and Others), and Regional Forecast, 2025-2032”.

Industrial gases are essential in a variety of applications, including welding, metal cutting, and process optimization. The demand for gases such as oxygen and nitrogen is increasing in the healthcare sector, where they are used for respiratory support, medical imaging, and sterilization processes. Additionally, the rapid growth of electronics and semiconductor manufacturing has boosted the need for high-purity gases such as nitrogen, hydrogen, and specialty gases, which are used in processes such as etching and circuit board production.

The COVID-19 pandemic had a significant effect on the global market, disrupting supply chains, production, and demand across various industries. Demand varied by sector, for instance, healthcare experienced an increase in demand, while the manufacturing and oil and gas industries witnessed a decline.

Messer Intends to Construct a Green Hydrogen Production Facility at the Brainergy Park Jülich

In July 2024, Messer intends to construct a green hydrogen production facility at the Brainergy Park Jülich, which is an industrial estate shared by multiple municipalities. This business park is designed to foster projects connected to "new energies" and the "energy transition." The hydrogen facility will be managed by HyDN GmbH, a collaborative venture formed by the district of Düren and Messer.

Increasing Demand for Hydrogen to Support Market Growth

Hydrogen is a clean energy source that generates zero carbon emissions when used as fuel. Its adoption is increasing in high-emission industries such as transportation and manufacturing, helping to reduce carbon footprints without requiring major infrastructure changes. The rise of green hydrogen, produced via electrolysis using renewable energy, is supported by significant investments from governments and companies, driving growth in the industrial gases market.

However, these gases are required to adhere to rigorous purity standards, necessitating the use of specialized equipment and quality assurance processes, which increases production costs and is anticipated to impede the industrial gases market growth.

Top Companies Invest in Healthcare and Pharmaceutical Sectors to Enhance Their Market Presence

The global market is competitive, featuring a range of both small and large players. These companies are investing in various sectors, including healthcare and pharmaceuticals, which is contributing to market growth. Several firms operating at national and regional levels, such as Bombay Oxygen Corporation Limited, SICGIL India Limited, Yateem Oxygen, and Goyal MG Gases Pvt. Ltd., are providing various gases to enhance their presence in the market across different regions.

Notable Industry Development

• October 2024: Air Liquide declared that it will provide oxygen to LG Chem for their electric vehicle battery manufacturing facility in the U.S. By supplying oxygen to LG Chem’s upcoming plant for cathode active materials, the Group will be contributing to the expansion of the battery ecosystem in the U.S. This investment will enhance the Group’s presence in a prominent region and foster the growth of its industrial merchant market.

List of the Companies Profiled in the Report

• Air Liquide (France)
• Air Products (U.S.)
• Linde (Ireland)
• Matheson Tri-Gas (U.S.)
• Messer Group (Germany)
• Gulf Cryo (Kuwait)
• BASF (U.S.)
• Southern Company Gas (U.S.)
• Universal Industrial Gases (U.S.)
• Ellenbarrie Industrial Gases Ltd (India)
• Bhuruka Gases Ltd (India)
• Concorde-Corodex Group (UAE)
• Dubai Industrial Gases (UAE)
• Bristol Gases (UAE)

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/industry-reports/industrial-gases-market-101728

Further Report Findings

• The North American region occupies the major industrial gases market share, supported by its well-established industrial base and strict environmental regulations. This region is experiencing growth due to an increasing elderly population and substantial investments in healthcare, which are driving the demand for medical gases such as oxygen and nitrogen. The market in the U.S. is expanding primarily because of the high demand from various sectors, including healthcare and manufacturing.
• In the Asia Pacific region, growth is driven by rising industrialization, infrastructure development, and urbanization in developing countries such as China, India, and Southeast Asia. These factors have led to a strong demand for industrial gases across multiple industries.
• Regarding gas types, oxygen represents the largest share of the global market, largely due to its crucial role in the steel industry. Oxygen is essential in the steelmaking process, as it improves efficiency and reduces impurities. The expansion of the construction and automotive industries, which are highly dependent on steel, further drives the demand for oxygen.

Table of Segmentation