The market for industrial gases in the glass industry is projected to grow from USD 2.57 Billion in 2015 to reach USD 3.49 Billion by 2020, at an estimated CAGR of 6.29.
Browse 204 market data tables with 60 figures spread through 245 pages and in-depth TOC on "Industrial Gases-Glass Industry Market”
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Oxygen to gain maximum traction during the forecast period
Oxygen is a primary industrial gas required for any combustion process. New technologies such as oxygen-enhanced combustion and oxy-fuel combustion are based on oxygen. A slight increase in oxygen concentration of the combustion air results in the rise of flame temperature, improvement in heat transfer rates, and increase in the overall efficiency of combustion.
Oxy-fuel combustion improves glass quality and also burns less fuel more efficiently. It reduces nitrous and CO2 emissions drastically, which helps in meeting the regulatory emission requirements. Thus, it is considered to be a sustainable technique for glass manufacturing. Apart from the manufacturing of glass, oxygen is also used in other functions such as melting, forming, polishing, and finishing of glass & glass products.
Asia-Pacific to play a key role in the market for industrial gases in the glass industry
On the basis of key regions, the market for industrial gases in the glass industry is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). The Asia-Pacific region held the largest share among all the regions in 2014. This is mainly due to emerging economies in China and India, coupled with growing applications of glass in the construction and automotive industries.
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Mergers & acquisitions was the major strategy adopted by most players in the market. Companies such as Air Products & Chemicals, Inc. (U.S.), The Linde Group (Germany), Praxair, Inc. (U.S.), Taiyo Nippon Sanso Corporation (Japan), Air Liquide SA (France), Gulf Cryo (Bahrain), HyGear (The Netherlands), Taiyo Nippon Sanso Corporation (Japan), SIG Gases Berhad (Malaysia), and Messer Group GmbH (Germany) were the key players who adopted this strategy to increase the reach of their offerings, improve their production capacity, and establish focus on core operations. Companies aim to serve the market efficiently by investing in manufacturing facilities and acquiring distribution centers in the fast-growing regions.
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Allied Market Research published a new report, titled, " Industrial Gases MarketIndustrial Gases Market by Type (Oxygen, Carbon Dioxide, Nitrogen, Hydrogen, Neon, Argon, and Krypton), Function (Packaging, Carbonation, Freezing & Chilling, and Others) and End User (Oil & Gas Industry, Petrochemical Industry, Chemical Industry, Mining Industry, Pharmaceutical Industry, Electronics Industry, Nuclear Power Industry, and Others): Global Opportunity Analysis and Industry Forecast, 2019-2026."
The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter's Five Forces analysis, and competitive landscape.
This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
Insights on opportunities are mentioned to assist market players in taking further steps by determining potential in untapped regions.
These insights help to devise strategies and create new opportunities to achieve exceptional results.
Leading market players analyzed in the report include Southern Gas Ltd., Universal Industrial Gases, Inc., Gulf Cryo, International Industrial Gases Limited.
With the continuous population growth and its migration to cities, manufacturing output is growing around the world.
One of the key raw materials used across industries is several types of gases, such as oxygen, hydrogen, nitrogen, carbon dioxide, acetylene, argon, and helium, either as ingredients in the intermediate or final products or to support various manufacturing processes.Thus, with the growing manufacturing output, the industrial gases market revenue is set to reach $154,079.5 million by 2030 from $92,392.4 million in 2019, at a 5.5% CAGR during 2020–2030 (forecast period).
Thus, seeing the widening scope for themselves, market players are entering into mergers and acquisitions to expand their portfolio, geographical reach, technical knowledge, and customer pool.
For instance, in October 2018, Praxair Inc. and Linde AG merged to cumulatively increase their revenue.
Similarly, Air Liquide S.A. acquired Baywater Healthcare Ireland Limited in June 2015 to grow its Irish home healthcare business.Such moves are allowing the companies to better serve the oil & gas and petrochemical, food processing, chemical, healthcare, metal processing, electronics, and many other sectors.
However, the ongoing COVID-19 pandemic has made most of these industries an insignificant source of revenue for them, as most of the manufacturing plants and commercial spaces around the globe have been shut down.
