Authors:
Kiran Pulidindi, Kunal Ahuja
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Middle East Industrial Gas Market Size & Share 2021 to 2027
Report ID: GMI5053
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Published Date: May 2021
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Middle East Industrial Gas Market Size
Middle East industrial gas market size was over USD 2.5 billion in 2020 and is estimated to grow at over 6.9% CAGR between 2020 and 2027 owing to growing industrialization in the Middle East and in the global market. Rapid expanding of healthcare industry in Middle East should promote the industry growth during the forecast period.
Oxygen gas is an essential component for its use in hospitals and clinical centres during surgeries and various other therapies. Where Nitrogen is used as a source of pneumatic pressure owing to its use as a source to power gas operated medical device and as a medical gas mixture for lung function test. likewise, different industrial gas has been extensively used in the healthcare industry since many years. Therefore, growing healthcare industry in middle east region is expected to foster industrial gas market growth in forceable time period.
Middle East industrial gas market has moderately affected due to novel coronavirus, as government has generally considered gas activities as essential activities and have been mostly exempt from the many lockdown measures. Moreover, continued operations of manufacturing sites have become difficult owing to workforce shortages. Employees ad workers are infected by the coronavirus and there are everyday difficulties in managing social distancing. Nevertheless, companies in the region are prepared to operate skeleton crews to continue operations with disruptions expected for the replacement of equipment, inspection, repair, maintenance and & drilling activities.
Around 85% of the greenhouse gas emissions come from electricity generation, energy production, domestic energy consumption and industrial sector. Wherein the industrial gases emission in the environment is strictly regulated by government agencies across the Middle East region. Saudi Arabia, the UAE, Kuwait, Qatar, and Bahrain are among the world’s top-10 per capita carbon emitters.
This rising emission in the environment and strict regulation by the government to control the pollution led to restrict the business growth. However, key players in the market are adapting different sustainable methods of production to reduce the pollution led to support the Middle East industrial gas market growth.
Middle East Industrial Gas Market Analysis
Middle East oxygen industrial gas segment is anticipated to register USD 2 billion in the 2027 and is expected to show growth over 7% of CAGR in the forecasted period. Oxygen is widely used in multiple industries, Oxygen is used in production of plastics, steel, brazing, textiles, welding and cutting of metals such as steel owing to its application in metallurgy and manufacturing industry. In addition, oxygen is also extensively used in healthcare industry owing to its use in intensive care treatment, in inhalation therapy, assist respiratory problems, increase patient comfort and save lives. Therefore, these multiple applications of oxygen should stimulate Middle East industrial gas market demand over the forecasted timeframe.
Chemical application of industrial gas should surpass USD 1.0 Billion by 2027 and is anticipated to show growth over 7.5% of CAGR in the forecasted period. Middle East chemical industry projected to show faster pace growth than the global market, it is owing to rising demand for chemicals from the construction industry.
Moreover, there is overseeing many huge building projects across the Middle East region in the past years. in addition, products like concrete admixtures, paints and coatings, flooring compounds, adhesives and sealants and waterproofing compounds are all in big demand in the region which support the growth of chemical industry. Wherein, chemical industry uses different industrial gases for multiple uses, for instance, nitrogen for preservation of chemicals such as prevention of oxidation of raw materials, prevention of combustion prior to manufacturing owing to its inert properties, this factor fuels the growth of industrial gas in the chemical industry.
Bulk supply mode segment is estimated to surpass over USD 1.0 billion in 2027 and is anticipated to grow at a CAGR of over 6.5% between 2020 and 2027. Bulk gas are used for consumption of larger volume consumption owing to its current demand from healthcare, chemical and manufacturing industry. Bulk gas supply mode offers benefits of low operating cost, reduced capital investments and safe product supply ad cost effectivity.
Furthermore, bulk supply mode has bulk supply systems installed at site of delivery and eliminates handling and changeouts and fulfils needs of high-pressure cylinders. Therefore, these multiple benefits of bulk gas supply mode projected to support the Middle East industrial gas market share over the forecasted period.
UAE industrial gas market is projected high pace growth over 7.5% CAGR in the years between 2020 to 2027. The region has huge potential for industrial gas, owing booming construction and transport industry in UAE region. Construction industry utilized industrial gas for various purpose including cutting and welding, thereby boosting industrial gas demand in the region. Moreover, UAE government has taken several initiatives to ensure sustainable development along with preserving the environment is anticipated to provide quality to the product and its manufacturing process. Therefore, these factors are likely to boost industrial gas market growth over the forecasted timeframe.
Middle East Industrial Gas Market Share
The Middle East industrial gas industry consolidated with few key players accounting major market share. The key players in the market includes:
These major market players are looking to strengthen their market position through different strategies. whereas, merger and acquisitions and joint ventures remain a key strategy in the Middle East industrial gas market.
For instance, In December 2020, Linde announced that it has entered a joint venture with Sahara International Petrochemical Company (Sipchem), which is a Saudi International Petrochemical Company owned jointly by a private sector investor of GCC countries and Saudi Arabia Also in October 2018, Linde AG and Praxair Inc has successfully completed the merger. This merger was aimed at a combined product & service portfolio to improve operational efficiency and future growth prospects.
In January 2021, the Gulf Cryo company has announced to procure, install, and operate CO2 emissions capture plant located in Saudi Arabia. This procurement aids the company expects to twofold its existing capacity production of CO2 in Saudi Arabia and add above 250,000 tons a year of CO2 emissions in to produce high-purity, which is food-grade green CO2.
In March 2021, the company Air Liquide formed a joint venture named Air Liquide Munay Tech Gases in Kazakhstan. In which ALMTG will be owned 75% by Air Liquide and 25% by KazMunayGaz (KMG), Air Liquide aims to increase its presence in Kazakhstan through this JV. Also, in April 2019, Air Liquide formed a joint venture with Chengdu Huaqi Houpu Holding Co Ltd this joint venture helps the company to distribute and produce hydrogen refilling stations in China for fuel cell electric vehicles (EVs).
Middle East industrial gas market report includes in-depth coverage of the industry with estimates & forecast in terms of volume in kilotons, and revenue in USD Million from 2016 to 2027 for the following segments:
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