Technavio has announced the release of their research report on the Global Industrial Gases Market for the forecast period 2019-2023. This industrial gas market analysis report segments the market by type (hydrogen, oxygen, nitrogen, carbon dioxide, acetylene, helium, and other), by end-user (manufacturing, chemical processing, metal fabrication, energy, medical and healthcare, food and beverage, electronics, and others) and geographic region (North America, MEA, APAC, Europe, and South America).
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Technavio has published a new market research report on the global industrial gases market from 2019-2023. (Graphic: Business Wire)
Global industrial gases market size will grow by about USD 35.37 billion during 2019-2023, at a CAGR of more than 7%. Due to the explosive, high flammability, and hazardous nature of industrial gases, utmost care should be taken during handling, storing, and transport. Over the years, there has been a series of innovations in packaging, wherein metal is being replaced by composite materials made of plastic or aluminum. These cylinders offer immense benefits in terms of energy savings, without compromising on the safety. Such innovations in design and packaging will significantly benefit the industrial gases market during the forecast period.
Rapid surface chilling technology
The industrial gases market is witnessing increased demand for rapid surface chilling technology, which is used in the poultry industry to preserve meat and reduce the impact campylobacter bacteria found on the surface of raw chicken. This bacterium is one of the most common causes of food poisoning in the UK. This technology involves the use of cryogenically cooled liquid nitrogen at a temperature of approximately -320.8 F. Therefore, the rising use of rapid surface chilling technology will fuel the growth of the industrial gases market during the forecast period.
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“The demand for industrial gases is increasing rapidly in APAC owing to the rapid expansion of infrastructure, which requires industrial gases to produce large volumes of steel. The region is expected to witness the fastest growth rate over the forecast period, mainly due to the rapid industrialization and increasing demand for industrial gases from end-user industries such as metals and metal fabrication; chemical and petrochemical; and food and beverage,” says an analyst at Technavio.
This industrial gas industry research report provides an in-depth analysis of the major drivers, upcoming trends, and challenges that will impact market growth over the forecast period. The report analyzes the competitive landscape and offers details on several industrial gases’ manufacturers including -
Some of the key topics covered in the report include:
Five Forces Analysis
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. Technavio’s report library consists of more than 10,000 reports covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies.
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