Industrial gases are gaseous products at ambient temperature and pressure manufactured for use in a wide variety of industrial production processes. They include pure gases, compounds, and gas mixtures. Some of the most commonly used industrial gases are oxygen, nitrogen, hydrogen, carbon dioxide, carbon monoxide, acetylene, and noble gases. Industrial gases are supplied in gaseous form or liquified and are delivered via gas cylinders, bulk liquid, or pipelines. The
stood at 93.7 billion U.S. dollars in 2021 and is expected to surpass 129.1 billion dollars by 2029.
Main applications of industrial gases
Industrial gases are key in most manufacturing industries. Chemical manufacturing processes, for instance, rely on industrial gases as raw materials.
Steel manufacturing and metal fabrication use large quantities of gases, especially oxygen as a booster for combustion processes. The automotive and shipbuilding industries are also heavy users of industrial gases for cutting and welding. Other important industrial gas applications include special gases for semiconductor manufacturing, breathing and medicinal gases, food and beverage gases, and
hydrogen energy.
Key players in the industrial gas sector
Linde, Air Liquide, Air Products, and Taiyo Nippon Sanso are the
largest industrial gas companies worldwide. Together, these four conglomerates account for over 80 percent of the industrial gas sector. Linde, a global multinational headquartered in Ireland, is currently the leading company in the industry. The company as it is known today was formed after the merger of german company Linde AG and U.S.-based company
Praxair in 2018. In 2020,
Linde employed over 65 thousand people and generated a revenue of over 33,4 billion U.S. dollars. Air Liquide and Air Products are the second and third biggest players in the sector, with revenues of 29.9 billion euros and 12.7 billion U.S. dollars, respectively.
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