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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.
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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.
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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.