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).