Indonesia Industrial Gases Market to Grow at a CAGR of 5.1% in the Forecast Period of 2024-2032, Aided by the Wide Application in Various Industries

The industrial gases market in Indonesia is driven by the wide application of industrial gases in various industries. Increasing healthcare expenditure and rapid expansion of the healthcare infrastructure gives rise to the demand for industrial gases. They form an essential component in the healthcare sector for numerous applications. For instance, oxygen is required in many cases to minimise the risk of excess oxygen in the lungs or body tissue during surgeries and for providing artificial ventilation. Industrial gases are used in manufacturing and refining of metals. Increasing demand for iron and steel from various industries and the upcoming steel ventures, along with various government initiatives to enhance the manufacturing sector, are expected to boost the usage of these gases. Use of industrial gases in the automotive industry has increased rapidly in recent years. Different gases are required for various purposes. Huge quantities of gases are utilised in the oil and gas sector for controlling multiple processes in refineries. Increasing global crude oil demand and the need for refining it will further generate growth opportunities. Indonesia also contributes significantly to the global palm oil industry. Industrial gases are also used in processing oils. Growing consumer demand for freshness in food products is generating the demand for industrial gases in food and beverage industries, as these gases can be used in place of chemical ingredients. These gases also find applications in the photovoltaic industry for manufacturing solar panels. Presence of major key players also provide competitors a competitive market, which also results in reduction of prices. Factors like rapid industrialisation and urbanisation, especially in developing economies, growing expenditure in research and development activities, and rapid advancement in technology also stimulate the market growth. Government is also taking initiatives to encourage the use of these gases. Enforcement of stringent environmental norms that encourage the use of industrial gases propel the market demand.

The rising competition among the key players is also providing an impetus to the market growth. In July 2021, Linde AG (NYSE: LIN) started its new on-site facility in Qinzhou, China, supplying oxygen and other industrial gases to Shanghai Huayi's new chemical complex. The new facility consists of three air separation units, which will supply up to 7,500 tons per day of oxygen and 5,000 tons per day of nitrogen. Its advanced technology and operational expertise will ensure the safe and reliable supply to Shanghai Huayi through Linde's pipeline at the new chemical complex ensuring Linde operates more efficiently, lowering its energy consumption and carbon emissions. The total investment for this new facility was approximately USD 200 million.

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Market Analysis by Types, Applications, and Supply Mode:

• Based on types, the industry can be divided into nitrogen, oxygen, carbon dioxide, argon, hydrogen, helium, and rare gases, among others.

• On the basis of its application, the market can be divided into manufacturing, metallurgy, energy, chemicals, healthcare, electronics, and food and beverages, among others.

• The market can be broadly categorised on the basis of its supply mode into packaged, bulk, and on-site.

Key Findings of the Report:

• Increasing application of industrial gases in many industries such as metals and mining, and food and beverage and automotive, amongst others, is fuelling the demand for industrial gases.

• Rapid industrialisation and urbanisation, especially in developing economies, boost the demand for industrial gases.

• Use of industrial gases in medical facilities is driving the growth of market, various types of gases are used for different purposes.

• Increase in spending in research and development activities, resulting in rapid advancement of technology is also propelling the market growth.

Key Offerings of the Report:

• The EMR report gives an overview of the Indonesia industrial gases market for the periods (2018-2023) and (2024-2032).

• The report also offers the historical (2018-2023) and forecasted (2024-2032) markets for the types, applications, and supply mode of Indonesia industrial gases. 

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the Indonesia industrial gases industry are L’Air Liquide S.A. (Air Liquide), Linde plc, Pt. Tira Austenite Tbk, PT Aneka Gas Industri Tbk, and Air Products and Chemicals, Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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