Industrial gases are those materials that are widely used in oil & gas, petrochemicals, chemicals, power, mining, steelmaking, metals, environmental protection, pharmaceuticals, food, water, fertilizers, electronics, nuclear power and aerospace. Mainly nitrogen, oxygen, carbon dioxide, argon, hydrogen, helium and acetylene is used. The industry producing these gases is known to be industrial gases industry. The business structure comprises sale and hire of gas cylinders and relevant equipment to businesses and occasionally to the common public. Industrial gas is sold to several other industrial enterprises that range from small orders to bulky orders from multinational corporate clients where a building or a process facility is required to cover. Thus, a wide variety of small gas containers/carriers that are handy and may be called as cylinders, bottles or capsules are available to supply LPG, butane, propane, carbon dioxide or nitrous oxide.
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Industrial Gases for Plastic and Rubber Market Report at : https://www.millioninsights.com/industry-reports/industrial-gases-for-plastic-and-rubber-market
The major driving forces for the
global growth of industrial gases for plastic and rubber market include growing
demand in various applications in the food & beverage, construction,
healthcare, automobiles, electrical & electronics and manufacturing
sectors. Additionally, growing industrialization across the globe and the
growing need for industrial gases for plastic & rubber industry propels the
market growth, too. However, the market growth refrains due to regulatory and
structural instructions. Also, costs associated with gas processing are another
major challenge plus variation in demand patterns & advancements of
alternative technologies is expected to curtail the market growth. Overall, the
global industrial gases market is expected to witness a double-digit CAGR
growth during the forecast period.
Based on gas type, the
segmentation for global market of industrial gases for plastic and rubber
market includes nitrogen, carbon monoxide & carbon dioxide. Nitrogen is the
rapidly growing market segment of industrial gases owing to wide applications
in the beverage, automobile, packaging, healthcare and construction sectors. It
is projected to be the fastest growing segment at the higher CAGR over the
forecast period.
On the basis of process, the
global market of industrial gases for plastic and rubber market includes
injection molding, extrusion, blow molding & foaming. Injection molding accounts for largest market share and is expected to
continue its dominance over the forecast period as it is the most widely used
method for processing plastic and rubber into end products. It is the
fastest growing segment ensuing to high versatility and application of
injection molding.
Based on storage &
distribution and transportation, the global market of industrial gases for
plastic and rubber market includes cylinder & packaged gas distribution,
merchant liquid distribution and tonnage distribution. On the basis of end use,
the global market of industrial gases for plastic and rubber market includes
plastic and rubber. On the basis of geographic segmentation, the global
market of industrial gases for plastic and rubber market spans North America,
Europe, Asia-Pacific, Middle-East & Africa.
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China is expected to dominate the
APAC market due to presence of large number of manufacturers and suppliers of
industrial gases for the plastic & rubber industry. North America is
expected to witness higher growth CAGR for the forecast period, followed by
Europe. Middle-east regions are expected to witness moderate growth rate during
the forecast period. The key players in the global market of industrial
gases for plastic and rubber market include Air Liquide S.A., the Linde group,
Praxair Inc., Air products & chemicals Inc., and Airgas Inc. Various strategies
adopted by the market players include product launches, mergers and
acquisitions, agreements and expansions.
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