Middle East Industrial Gas Market size worth over USD 4.5 billion by 2027
Published Date: May 17, 2021 Authors: Kunal Ahuja, Amit Rawat
According to a new research report by Global Market Insights, Inc., the Middle East Industrial Gas Market size is set to surpass USD 4.5 billion by 2027.
Growing beverage industry all around the worldwide led to increase the demand for carbon dioxide industrial gas. As it is the essential ingredient for effervescence in carbonated beverages. Major beverage industries use industrial gases during the manufacturing process of their product to maintain its consistent color and taste. Additionally, carbon dioxide is used also used to prevent oxidation in the package food, which affects the product color and taste. Therefore, these multiple benefits of carbon dioxide in beverage industry led to fuel the Middle East industrial gas market share over the forecasted period.
Wide application of nitrogen industrial gas in the production of multiple chemicals led to propel its demand over the forecasted period
Nitrogen Middle East industrial gas is anticipated to show significant growth over the forecasted period and reach over the value of USD 1.0 billion by the end of 2027. Nitrogen industrial gas is an odorless, colorless gas which play and important role in chemical industry owing to its use in production of nylon, nitric acid, fertilizers, dyes and explosives. It is also used to make unreactive atmosphere which has application in chemical and manufacturing industry.
Nitrogen is used during production of diodes, transistors and in large quantities it is used in annealing stainless steel and other steel mill products owing to its ability to act as blanketing medium and provide clean dry and controlled inert environment. These wide applications if nitrogen industrial gas in different industries should support it’s in the Middle East industrial gas market growth.
Growing government initiative to support manufacturing industries in the Middle East Region led to fuel the Middle East industrial gas demand over the forecasted period
Manufacturing application of industrial gas anticipated to show significant share in the Middle East industrial gas market and valued over USD 700 Million in 2020. Industrial gases such as argon and nitrogen are used in manufacturing of car head lamps and indicator lamps. Additionally, Metal sheet for car body and doors in cut using specialty gas mixture lasers which should boost demand from automotive industry. Specialty gases including krypton, xenon, neon is important to light industry owing to its use in manufacturing of light bulbs as it helps to achieve maximum natural convection heat transfer inside the bulb. Moreover, increasing government initiative in MEA region to promote manufacturing as part of their diversification strategy should strengthen business growth. Therefore, these various uses of industrial gases in different manufacturing process fuel the growth of product in the manufacturing application.
Multiple benefits of on-site gas production and supply led to drive its demand over the forecasted period
On-site supply mode segment expected to show highest growth over 7.0% of CAGR in the forecasted period and reach over the value of USD 2.0 billion by the end of 2027. On-site supply mode’s custom solutions of exact pressure, purity and flow requirements for operations anticipated to witness its high pace growth in the Middle East industrial gas market.
Moreover, on-site supply mode offers benefits such as uninterrupted supply, deliver reliability and optimization to the process and reduces the overall industrial gas spend owing to its flexible design. Industries aiming at sustainability initiative highly rely on site gas production and supply owing to its benefits booting energy efficiency, lower carbon footprint, enhance product quality, increase through put and improving environmental performance.
Browse key industry insights spread across 160 pages 101 market data tables and 35 figures & charts from the report “ Middle East Industrial Gas Market Size By Type (Nitrogen, Oxygen, Carbon Dioxide, Argon, Hydrogen, Helium, Specialty Gases), By Application (Manufacturing, Metallurgy, Energy, Chemicals, Healthcare), By Supply Mode (Packaged, Bulk, On-Site), Industry Analysis Report, Country Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast,” in detail along with the table of contents:
Growing energy industry in Saudi Arabia region anticipated to fuel the product growth over the upcoming years
Saudi Arabia region expected to show significant share over 35% market share in the Middle East industrial gas market and expected to show growth over 6.5% of CAGR. Increasing industrial gas demand from various end use industries including metallurgy, refinery, energy and food & beverage is anticipated to foster business growth in Saudi region. Moreover, the growing energy industry in the Saudi Arabia owing to key player’s initiative to restructuring the power sector in the region. Nitrogen is commonly used in power plants to prevent corrosion within fire protection system and for power generation application. It can also be used in batteries and as a source of renewable energy which should augment market growth.
Players in the Middle East industrial gas industry are adopting different strategies such as acquisitions and partnership and joint venture to expand their sustainable position in the global industrial gas market. The major players include Linde, SABIC, Air Liquide, Gulf Cryo, Abdullah Hashim Industrial Gas, and Air Products. In addition, there are several players in the market includes Sipchem (Sahara International Petrochemical Company), Brothers Gas, Gaschem Kuwait, Buzwair Industrial Gases Factories, Haba? Group, Messer Group, Oman Industrial Gas, Dubai Industrial Gases, Sharjah Oxygen Company among several others.