Overview and Scope
Industrial gases for the plastic and rubber industry are gases used in industrial processes such as molding and extrusion. These gases have low concentrations and are easily dissipated into the atmosphere, making them excellent for industrial applications. It is used for increasing the energy efficiency and productivity of manufacturing and curing processes of plastic and rubber components.
Sizing and Forecast
The industrial gases for plastic & rubber industry market size has grown strongly in recent years. It will grow from $6.86 billion in 2023 to $7.29 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to expansion of the plastic and rubber industry, increasing demand for plastic and rubber products, focus on sustainable manufacturing, globalization of supply chains, development of specialty gases, evolving regulatory standards..
The industrial gases for plastic & rubber industry market size is expected to see strong growth in the next few years. It will grow to $9.43 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to focus on energy efficiency, demand for high-performance polymers, rising automotive production, focus on circular economy, increased use of composites, shift towards bio-based plastics, global trends in packaging materials.. Major trends in the forecast period include adoption of cryogenic gases for cooling and freezing, increasing use of hydrogen in polyethylene production, focus on foam manufacturing with industrial gases, integration of automation and control systems, customized gas solutions for specific applications..
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Segmentation & Regional Insights
The industrial gases for plastic & rubber industry market covered in this report is segmented –
1) By Gas Type: Nitrogen, Carbon Monoxide, Carbon Dioxide
2) By Storage and Distribution and Transportation: Cylinder and packaged gas distribution, Merchant liquid distribution, Tonnage distribution
3) By Process: Injection molding, Extrusion, Foaming, Blow moulding
4) By End-Use: Plastic Industry, Rubber Industry
Asia-Pacific was the largest region in the industrial gases for plastic & rubber industry market in 2023. The regions covered in the industrial gases for plastic & rubber industry 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
The growth in infrastructural development activities is expected to propel the growth of the industrial gases for the plastic and rubber market going forward. Infrastructure development provides essential foundational services to encourage economic expansion and quality of life. Governments across the world are increasing their spending on infrastructure development. Thus, the demand for rubber and plastic components increases with infrastructure development since those components are widely used in infrastructure activities. For instance, in February 2021, according to the global infrastructure outlook by G20 nations, an Australia-based government economic program, global spending on infrastructure increased from USD 2.1 trillion in 2010 to USD 2.8 trillion in 2021 and is expected to increase to USD 3.3 trillion by 2030. As a result, the growth in infrastructural development activity is propelling the growth of the industrial gases for plastic & rubber industry market.
Key Industry Players
Major companies operating in the industrial gases for plastic & rubber industry market report are Air Products and Chemicals Inc., Airgas Inc., Messer Group, Novomer Inc., Praxair Inc., Taiyo Nippon Sanso Corp., The Linde Group, Universal Industrial Gases Inc., Yingde Gases Group Co. Ltd., Reliance Industries Limited, Bharat Petroleum, Supreme Industries Limited, HPCL-Mittal Energy Limited, Gulf Cryo, Rotarex, Air Liquide S.A., Air Water Inc., Airgas Dry Ice, Airtec Gases LLC, Asahi Kasei Corporation, Buzwair Industrial Gases Factories, Chemours Company, Cryogenic Gases Inc., DOW Chemical Company, Iwatani Corporation, Matheson Tri-Gas Inc., Showa Denko K.K.
The industrial gases for plastic & rubber industry market report table of contents includes:
1. Executive Summary
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