Global GCC Industrial Gas Market Size to grow USD 6.7 Billion by 2030 | CAGR of 5.68%

GCC Industrial Gas Market Size To Exceed USD 5.68 Billion By 2030

The Global GCC Industrial Gas Market is projected to grow from USD 1.9 billion in 2021 to USD 5.68 billion by 2030 at a CAGR of 6.7% during the forecast period. as per the latest research report by Spherical Insights & Consulting.

Industrial gases are manufactured to boost production and provide operational flexibility. Industrial gases include hydrogen, oxygen, nitrogen, argon, and helium, to name a few. Industrial gases are essential for welding, brazing, cutting, treating metals, and refining. Utilizing industrial gases like nitrogen is used in the production of light bulbs, tyre inflation, mining, and food packaging. Additionally, the pharmaceutical industry uses nitro oxide, a byproduct of nitrogen gas, to make medicines. It is projected that rising building activity in the GCC region and upcoming large-scale infrastructure projects will propel the market growth for industrial gases. The rise of the GCC industrial gases is also expected to be fueled by rising investment in key industrial and infrastructure projects. The market expansion is estimated to be fueled by the rising demand for industrial gases for healthcare applications throughout the forecast year. Industrial gases are commonly used for other technological purposes besides treating different respiratory problems. As a result, it is predicted that the rapid expansion of the medical sector in the GCC area will drive market expansion over the forecast period. The GCC region's expanding need for packaged food and beverages, which are necessary for survival, is expected to open up new market expansion opportunities. Changes in food consumption patterns are also anticipated to support the regional market's expansion throughout the forecast timeframe. A manufacturer may find growth opportunities due to the development of end-use applications and the introduction of cutting-edge technology for the production of industrial gases, which will enable them to serve a sizeable market in the region better. There is a likelihood that this will hasten the growth of GCC industrial gases. However, the high cost of manufacturing is expected to limit the growth of the industrial gas sector. The high energy cost associated with producing industrial gases is a key impediment to their market expansion. It is projected that the cost of electricity will restrict the market growth.

Browse key industry insights spread across 198 pages with 145 market data tables and figures & charts from the report “Global GCC Industrial Gas Market Size, Share, and COVID-19 Impact Analysis, By Type (Nitrogen, Carbon Dioxide, Oxygen, Helium, Xenon, Krypton, and Argon), Application (Metallurgy, Chemicals, Healthcare, Energy, Manufacturing, and Others), Supply Mode (Packaged, Bulk, and On-Site), and by Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030” in detail along with the table of contents https://www.sphericalinsights.com/reports/gcc-industrial-gas-market

This research report categorizes the market for GCC Industrial Gas based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the GCC Industrial Gas market. Recent market developments and competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the GCC Industrial Gas market.

Based on application, the GCC Industrial Gas market is categorized into metallurgy, chemicals, healthcare, energy, manufacturing, and others. The GCC region's expanding industrial gas market is aided by rising knowledge of advanced medical techniques and technologies. The pandemic scenarios highlighted the growth of hospitals and healthcare facilities across the different gulf nations, which has increased the demand for functional gases like carbon dioxide, argon, and helium and survival gases like oxygen in the region's healthcare sector. The fast increase in metallurgical uses for industrial gases such as oxygen, nitrogen, and hydrogen, among others, is mostly due to the quick expansion of mining, fabrication, and construction operations. The region, especially in nations like Oman, Saudi Arabia, and Kuwait, is seeing significant demand for various functional gases due to the wide range of advantages of efficient combustion fuel and heat treatment operations over metals.

Among all regions, The Middle East and Africa emerged as the global GCC Industrial Gas market's largest market. The region's oil and gas output is declining, and the need to develop a medical infrastructure is growing, which has fueled the region's demand for industrial gas applications. The good outlook for suitable medical gas applications and the distinct benefits of various industrial gases like argon and specialty gases like krypton and xenon across the processing industry, will sustain the market for industrial gases in the GCC. Saudi Arabia's nitrogen gas production is anticipated to rise by more than 7% by 2030. This will further fuel market expansion in this domain due to applications in the chemical, pharmaceutical, culinary, and metallurgy sectors.

The Asia Pacific market is expected to grow at the fastest CAGR between 2021 and 2030. Manufacturers in the industrial gas industry have substantial growth possibilities in the Asia Pacific. The demand for industrial gases in the area is influenced by the region's growing population, the existence of established market participants, and expanding economies like India, China, South Korea, and Singapore. Rapid urbanization and regional industrial expansion are further factors driving the Asia Pacific industrial gas market. The growing food and beverage, manufacturing, electronics, and mining sectors in the Asia Pacific present lucrative prospects for firms working in the industrial gases industry.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities
• Consulting And Research Firm
• Venture capitalists
• Third-party knowledge providers
• Value-Added Resellers (VARs)

Recent Development

• In January 2021, A CO2 emissions capture system will be purchased, installed, and run by the Gulf Cryo business in Saudi Arabia. In order to manufacture high-purity, food-grade green CO2, the firm aims to treble its current CO2 production capacity in Saudi Arabia and capture more than 250,000 tonnes of CO2 emissions annually.
• In April 2021, In order to increase efficiency and improve customer value, Aramco and SABIC announced their plans to reorganize marketing and sales, as well as commercial and supply chain activities. Aligning the strategies of SABIC and Aramco was the goal of this endeavor.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2021 to 2030. Spherical Insights has segmented the global GCC Industrial Gas market based on the below-mentioned segments:

GCC Industrial Gas Market, By Type

• Nitrogen
• Carbon Dioxide
• Oxygen
• Helium
• Xenon
• Krypton
• Argon

GCC Industrial Gas Market, By Application

• Metallurgy
• Chemicals
• Healthcare
• Energy
• Manufacturing
• Others

GCC Industrial Gas Market, By Supply Mode

• Packaged
• Bulk
• On-Site

GCC Industrial Gas Market, Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of Middle East & Africa