South East Asia Industrial Gases Market - Forecast(2021 - 2026)

The South East Asia (SEA) Industrial Gases market value was $3.1 billion in 2020 and is expected to grow at a CAGR of 5.0% for the period 2021-2026. Growth of the SEA Industrial Gases market can be attributed to improving economies of SEA countries’ economies, growing energy demand, and healthcare needs. The growing need for alternate sources of energy sources leads to investments in gasification plants that require high amount of gases which is set to drive industrial gases market. Gases used for various industrial and manufacturing processes are known as industrial gases. Most of these gases are manufactured relatively in large quantities and are found in all three states of matter that is solid, liquid and gas. These gases are supplied to customers in the form of liquid or gas via cryogenic cylinders, gas cylinders, or glass bottles/ampules and are used in a variety of industries according to their physical and chemical properties. Industrial gases such as liquid nitrogen, carbon dioxide, oxygen and argon welding gas have majority of applications in metal, polymer as well as food industries.

South East Asia Industrial Gases Market Report Coverage

The report: “South East Asia Industrial Gases Market – Forecast (2020-2026)”, by IndustryARC covers an in-depth analysis of the following segments of the SEA Industrial Gases Market.

By Type of Gas: Oxygen, Nitrogen, Argon, Carbon Dioxide, Hydrogen, Helium and Others
By Storage Method: Compressed Storage, Liquid Storage
By End User Industry: Medical and Pharmaceutical, Energy, Food and beverage, Chemical, Oil and Gas, Metal, Mining, Transportation and Others
By Country: Indonesia, Malaysia, Thailand, Philippines, Singapore, Vietnam and Others.

Key Takeaways

  • The SEA Industrial Gases market is a moderately consolidated market with top five players accounting for a market share of 55% in 2020.
  • The SEA Industrial Gases market have a fastest growth rate in food and beverage applications owing to high usage of industrial gases in food preservation and packaging.
  • Indonesia market holds major share in SEA Industrial Gases market owing to high investments in setup of gasification plants in the country.

South East Asia Industrial Gases Market Segment Analysis – By End User Industry

Industrial gases in food & beverage industry of South East Asia is projected to grow at faster rate with a CAGR of 7.0% during 2020-2026. Increasing food demand and less productivity of soil has led to more emphasis on food preservation. In Food & Beverage industry, industrial gases are used to chill, grind, and package variety of food products including bakery and diary items, beverages, fish and sea food, fruits and vegetables, meat and poultry, prepared meals and others. Nitrogen plays a crucial role in this industry as it acts as cryogenic agent in cooling, chilling, and food freezing. It also helps in reducing spoilage of food, discoloration and off flavors, gives strength to retail packaging. Growing consumption of packaged foods and increasing consumer demand for packaged food of better quality is driving the SEA industrial gases market in food and beverage industry.


South East Asia Industrial Gases Market Segment Analysis - By Type of Gas

The type of gases used are Argon, Hydrogen, Oxygen, Nitrogen, Carbon Dioxide, Helium, specialty gases, cutting and welding gases, gas mixtures and so on. In MAP (modified atmosphere packaging), oxygen is replaced by nitrogen which increases the shelf life of food or drug products. Also, carbon dioxide is witnessing high growth in natural refrigerants during the forecast period. Hydrogen gas is considered a potential replacement to fossil fuel in automotive sectors. Despite this, oxygen dominates the market share at 28% in 2020 and is project to continue to account for significant share throughout the forecast period.

South East Asia Industrial Gases Market Segment Analysis – By Geography

Indonesia is poised to emerge as the largest country in South East Asia for the Industrial Gases Market with a revenue share of 20.5% in 2020. However Construction of new gas plants in Thailand is driving the Industrial gases market in South East Aisa. In 2019, Bangkok Industrial Gas (BIG), a joint venture between Thai investors and Air products and Chemicals Inc, had planned to develop a second hydrogen (H2) plant in Map Ta Phut, Rayong, in line with the Thailand government to encourage the use of Hydrogen as an alternative energy to fossil fuels. This set up of gas plants is poised to drive the industrial gases market in Thailand.

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