Overview and Scope
Gas mixtures are a diverse group of products that are developed for use in specific industries. They have been used to improve the characteristics of many beverages, from wine to beer and soft drinks. These are created on-site by mixing two or more pure gases, or they are supplied as premixed products in different containers and cylinders. The gas mixture is used for welding and cutting and for laser processing.
Sizing and Forecast
The gas mixtures market size has grown strongly in recent years. It will grow from $39 billion in 2023 to $42.37 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The growth in the historic period can be attributed to industrial growth, healthcare applications, electronics manufacturing, environmental regulations.
The gas mixtures market size is expected to see strong growth in the next few years. It will grow to $58.62 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. The growth in the forecast period can be attributed to renewable energy, emerging technologies, global expansion. Major trends in the forecast period include customized gas mixtures, r&d and innovation, hybrid and electric vehicles, collaborative initiatives.
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Segmentation & Regional Insights
The gas mixtures market covered in this report is segmented –
1) By Mixture: Oxygen Mixtures, Nitrogen Mixtures, Carbon Dioxide Mixtures, Argon Mixtures, Hydrogen Mixtures, Specialty Gas Mixtures, Other Mixtures (Rare Gas Mixtures)
2) By Manufacturing Process: Air Separation Technology, Hydrogen ProductionTechnology, Other Manufacturing Process (Pressure Swing Adsorption)
3) By Storage, Distribution, And Transportation: Cylinder and Packaged Distribution, Merchant Liquid Distribution, Tonnage Distribution
4) By End-Use Industry: Metal Manufacturing and Fabrication, Chemicals, Medical and Healthcare, Electronics, Food and Beverage, Other End-Users Industries (Glass, Energy, and Oil and Gas)
North America was the largest region in the gas mixtures market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the gas mixtures market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
Increased demand for electronics products is expected to propel the growth of the gas mixtures market going forward. Electronic products refer to software products made available through electronic media. The gaseous mixtures are used for microelectric manufacturing and semiconductor processing applications such as thin film deposition and also for insulation purposes. For instance, according to the United Nations Comtrade database on international trade, a US-based repository of official international trade statistics and relevant analytical tables, the United Kingdom’s imports of electrical and electronic equipment increased to $61.76 billion in 2021, which was approximately $57 billion in 2020. Therefore, the increased demand for electronic products is driving the growth of the gas mixtures market.
Key Industry Players
Major companies operating in the gas mixtures market report are Linde PLC, The Messer Group GmbH, Welsco Inc., Air Liquide S. A, NexAir LLC, Alpha Packaging Inc., Advanced Specialty Gases Inc., Air Products and Chemicals Inc., Solvay SA, Versium Materials Inc., Praxair Inc., Iwatani Corporation, Nippon Sanso Holdings Corporation, Kanto Denka Kogyo Co. Ltd., Matheson Tri-Gas Inc., Gas Innovations, Weldstar Company, Gasco Affiliates LLC, Ideal Calibrations, EGas Depot, Worthington Industries Inc., Mitsui Chemicals Inc., Showa Denko K. K., Ube Corporation, Gas-Tech Corporation, Bharat oxytech Pvt. Ltd., Mahler AGS, Sinogas Management Pte Ltd., Henan Tian Lun Gas Group Ltd., Aims Oxygen Pvt. Ltd.
The gas mixtures market report table of contents includes:
1. Executive Summary
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