Global Industrial Gases Market Size and Share Outlook - Forecast Trends and Growth Analysis Report (2025-2034)

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The global industrial gases market has witnessed significant growth, with increasing demand for industrial gases across multiple end-use industries. In particular, the U.S. market and the wider North America region have seen substantial utilization of industrial gases in sectors such as petrochemical, metallurgy, and healthcare. Major suppliers, including Linde, Air Liquide, Messer, and Air Products & Chemicals, continue to play a crucial role in expanding market presence and innovation. The healthcare industry and R&D efforts have driven demand, especially during and after the COVID-19 pandemic, highlighting the essential role of industrial gases in medical treatments and vaccine production. Additionally, electronic industries have become key consumers, particularly for electronics end-use applications such as flat panel displays, semiconductors, LED lights, and solar cells. The Asia Pacific region maintains its dominance due to rapid industrialisation and strong economic growth in countries like China, India, and South Korea. These nations are fostering market expansion in industrial and electronics sectors through infrastructure development and increased manufacturing activity. As demand continues to grow, particularly in developing regions, the industrial gases market is poised for further advancement, driven by both traditional industries and high-tech applications. The continuous growth of the electronics industry and the petrochemical sector further supports the global demand for industrial gases, ensuring a positive outlook for the years to come. INOX Air Products (INOXAP), India’s largest industrial gases manufacturer, launched the country’s first ultra-high purity (UHP) electronic grade nitrous oxide plant in Manali, Chennai, in January 2025. With a 1,700 TPA capacity and 6N (99.9999%) purity, the plant supported critical industries such as semiconductors, solar PV, and electronics. It provided a reliable domestic source for high-purity nitrous oxide used in advanced manufacturing processes.

Product Insights

Oxygen plays a vital role in the global industrial gases market due to its wide-ranging applications. In the healthcare industry, it is essential for respiratory treatments and life support systems. In the manufacturing and metallurgy sectors, oxygen enhances combustion efficiency, reducing fuel consumption and emissions. It is also used in wastewater treatment and chemical processing, supporting sustainability goals. Unitaid expanded Africa’s first regional medical oxygen network into Tanzania in March 2025, aiming to triple production and cut prices by over 25%. The initiative improved infrastructure and access in urban and remote areas, supporting nearly one million children annually.

Nitrogen is a key component in the global industrial gases market, valued for its inert properties. It is widely used in the food and beverage industry for packaging and preservation, extending product shelf life. In the electronics and semiconductor industries, nitrogen ensures a controlled atmosphere for manufacturing processes. It is also crucial in pharmaceuticals, chemicals, and oil and gas sectors for blanketing, purging, and pressurising applications. Its non-reactive nature makes it ideal for preventing oxidation and contamination, driving consistent demand across multiple high-growth industries worldwide.

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Distribution Insights

On-site gas generation offers significant advantages in the global industrial gases market, particularly for large-scale, continuous operations. By producing gases such as oxygen, nitrogen, or hydrogen directly at the customer’s facility, businesses reduce dependency on external deliveries, enhancing reliability and supply security. This model eliminates transportation costs and minimises gas losses during transit, resulting in greater efficiency and cost savings. On-site solutions are highly customisable, supporting industries like petrochemicals, steel, electronics, and food processing with tailored gas volumes and purity levels. Universal Industrial Gases (UIG) provides advanced, customised gas solutions including on-site production and bulk supply systems. With expertise across multiple industries like steel, electronics, and chemicals, UIG focused on innovation, flexibility, and sustainability. Its national network and customer-centric approach ensured reliable, efficient gas delivery and long-term industrial partnerships.

Bulk liquid gas transport plays a vital role in the global industrial gases market by enabling the efficient supply of large volumes of industrial gases such as nitrogen, oxygen, and argon. Transported in cryogenic tankers, these gases are stored in liquid form to maximise volume and delivered to customer sites for on-demand vaporisation and use. This method ensures a reliable and continuous gas supply for medium to large-scale industries, including healthcare, metallurgy, electronics, and food processing. Bulk supply allows for centralised production and quality control while offering flexibility for customers without the infrastructure for on-site generation. It supports high-purity gas requirements and reduces the need for frequent deliveries, making it a cost-effective and efficient distribution method across regions.

Application Insights

Industrial gases play a vital role in modern healthcare, enhancing both patient care and medical procedures. Oxygen is essential for respiratory support and anaesthesia, while nitrous oxide is widely used as a sedative and pain reliever. Carbon dioxide assists in minimally invasive surgeries by inflating body cavities for better visibility. Medical-grade gases also support the sterilisation of equipment and precise calibration of devices. In hospitals and clinics, a reliable gas supply ensures emergency readiness and continuity of care. Air Liquide signed contracts with 20 hospitals in Europe and Brazil in 2024 to supply certified low-carbon medical gases. Their ECO ORIGIN™ solution helped reduce emissions by over 70%, supporting hospitals in cutting their carbon footprint sustainably.

In the manufacturing sector, industrial gases are essential for enhancing productivity, product quality, and operational efficiency. Oxygen, nitrogen, and hydrogen are commonly used in processes such as welding, cutting, and metal fabrication. Oxygen improves combustion efficiency, reducing energy consumption and emissions, while nitrogen is used for inerting and blanketing to prevent oxidation and contamination. Hydrogen plays a crucial role in refining and the production of clean fuels. Carbon dioxide is often used in cooking and cleaning applications. Additionally, gases support additive manufacturing (3D printing), enabling innovation in design and production. Their use improves safety, prolongs equipment life, and meets stringent quality standards. The integration of industrial gases is fundamental to achieving higher precision and sustainable manufacturing practices.

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If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.

Purchase the Regional Overview for USD 1099

If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.

Purchase the Regional Overview for USD 1099

If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.

Regional Insights

North America remains a dominant player in the global industrial gases market, driven by advanced healthcare infrastructure, robust manufacturing, and strong demand from the oil and gas industry. The United States leads the region with significant consumption of oxygen, nitrogen, and hydrogen for applications in metal fabrication, chemical processing, and energy production. In August 2023, Air Water Inc. entered the North American industrial gas market by establishing a cryogenic air separation plant in Rochester, New York. It marked their full-scale manufacturing-to-sales operation. They also acquired Noble Gas Solutions and expanded ASU capabilities in Minnesota.

Europe’s industrial gases market is heavily influenced by stringent environmental regulations and sustainability goals. Countries such as Germany, France, and the UK are investing in low-carbon industrial processes, especially in steelmaking and chemicals. The healthcare sector is also a major consumer of medical gases, contributing to steady demand. Furthermore, the region’s push towards renewable energy and green hydrogen production is opening new avenues for growth. Established players are investing in eco-friendly solutions and efficient delivery systems to meet evolving industrial and environmental standards.

Asia Pacific is the fastest-growing region in the global industrial gases market, driven by rapid industrialisation, urbanisation, and healthcare expansion. China, India, Japan, and South Korea are key contributors, with large-scale demand from manufacturing, electronics, and energy sectors. The steel and automotive industries require consistent supplies of oxygen, nitrogen, and argon. In October 2022, Air Liquide invested €500 million to build three high-tech plants in Taiwan, supplying ultra-pure nitrogen, oxygen, and argon to semiconductor firms. The project supported 2 billion Nm³ annual output and strengthened its electronics sector partnerships.

Indonesia's industrial gases market is expanding steadily, fuelled by growing demand from manufacturing, food processing, and healthcare sectors. The country’s industrial development and infrastructure projects are generating consistent needs for gases such as oxygen and nitrogen. Additionally, government efforts to strengthen local pharmaceutical production and healthcare services are boosting the consumption of medical gases. Indonesia’s strategic geographic location and increasing foreign investments in industrial parks and clean energy initiatives are expected to further accelerate market growth over the coming years.

Latin America shows promising potential in the industrial gases market, supported by economic growth and industrial recovery in nations like Brazil, Argentina, and Chile. The region has witnessed increased demand from sectors including oil and gas, food and beverage, and healthcare. Brazil, being the largest market, benefits from its strong healthcare infrastructure and industrial base. Efforts to modernise manufacturing processes and expand renewable energy use, particularly hydrogen, are also shaping the market. However, economic and political volatility in some areas may pose short-term challenges.

Mexico plays a significant role in the Latin American industrial gases market, with strong ties to North American supply chains and a robust industrial base. Automotive manufacturing, metal fabrication, and healthcare are key drivers of gas demand. Mexico’s participation in trade agreements and its strategic location enhance cross-border business with the United States, particularly in the supply of industrial and medical gases. In October 2024, Transition Industries signed a Letter of Intent with Mitsubishi Gas Chemical for a long-term methanol sales agreement. The Pacifico Mexinol project in Sinaloa, Mexico, aimed to supply 1 million MT annually of ultra-low carbon methanol by 2028.

The Middle East and Africa industrial gases market is growing, driven by the region’s expanding energy sector, healthcare development, and industrial diversification. Gulf countries such as Saudi Arabia and the UAE are investing in hydrogen projects and advanced manufacturing to reduce dependence on oil revenues. Africa’s growth is supported by infrastructure development and increasing demand for medical gases, especially in urban centres. In April 2025, Aramco launched Saudi Arabia’s first Direct Air Capture facility, removing 12 tons of CO2 annually. The project aimed to improve DAC efficiency, reduce costs, and support carbon management strategies.

Key Companies & Market Share Insights

The global industrial gases market is predominantly led by a few major players, with Linde plc and Air Liquide S.A. holding the largest market shares. These companies have established extensive global networks and diversified product portfolios, including gases for healthcare, electronics, and manufacturing sectors. Their strategic mergers, acquisitions, and investments in sustainable technologies have solidified their positions as industry leaders. Other notable competitors include Air Products and Chemicals Inc., Messer Group GmbH, and Nippon Sanso Holdings Corporation, each contributing to the market's competitive landscape.

Key Industrial Gases Companies

• Air Liquide 
• Linde AG
• Praxair Technology, Inc.
• Air Products Inc.
• INOX-Air Products Inc.
• Iwatani Corp.
• Messer
• SOL Group
• Strandmøllen A/S
• Taiyo Nippon Sanso Corp.
• Others

Global Industrial Gases Market Segmentation

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