Industrial Gases Market for Glass Industry to Record USD 744.67 Mn Growth | 4.35% YOY Growth Expected in 2021 | APAC to Notice Maximum Growth | Technavio

NEW YORK, Oct. 8, 2021 /PRNewswire/ — The industrial gases market for glass industry by distribution channel (merchant liquid distribution,…

NEW YORK, Oct. 8, 2021 /PRNewswire/ — The industrial gases market for glass industry by distribution channel (merchant liquid distribution, tonnage distribution, and cylinder and packaged distribution), gas type (nitrogen, oxygen, hydrogen, acetylene, and others), and geography (APAC, Europe, North America, South America, and MEA) has been added to Technavio’s offering. The global industrial gases market for the glass industry is set to grow by USD 744.67 million, accelerating at a CAGR of almost 5% between 2021 and 2025.

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The automotive sector is observing strong growth in terms of vehicle sales post the second wave of the COVID-19 pandemic. In addition, the growing demand for fuel-efficient vehicles is forcing automobile manufacturers to develop lightweight vehicles with comparatively lower carbon emissions. This rise in the preference for fuel-efficient lightweight vehicles is expected to positively impact the growth of the industrial gases market for the glass industry.

The market is expected to be driven by factors such as the augmented demand for glass from the construction industry, expanding glass packaging industry, and the flourishing global automotive industry.

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Industrial Gases Market for Glass Industry: Opportunities

Governments across many developed and developing countries increasing their spending on mega infrastructure projects, which is fostering the growth of various end-user sectors. In Germany, the chemical processing industry is witnessing high growth owing to the presence of state-of-the-art logistics, an excellent research landscape, and world-class infrastructure in the country. The growth of such end-user industries has subsequently increased the demand for industrial gases used for manufacturing glasses for industrial, medical, commercial, and residential sectors. Many such developments are creating significant growth opportunities for players in the market.

Industrial Gases Market for Glass Industry: Segmentation by Gas Type

Based on the segmentation by gas type, the market generated maximum revenue in the nitrogen segment in 2020. The segment is driven by the increased use of nitrogen as a coolant. Also, factors such as the use of nitrogen as a refrigerant, inert properties of nitrogen, and low cost are contributing to the growth of the segment.

Industrial Gases Market for Glass Industry: Segmentation by Geography

APAC held the largest market share in 2020 and the market growth in the region is expected to be faster compared to the growth of the market in other regions. The growth of the market in APAC can be attributed to the rapid growth of the construction industry coupled with the high adoption of construction machinery and material handling equipment in the region. Also, the strong growth of the automotive industry is contributing to the growth of the industrial gases market for glass industry in APAC.

One of the fortune 500 companies had used the detailed research report on the industrial gases market for glass industry and had decided to increase their market share in the APAC region which offers the highest market opportunities during the forecast period.

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Industrial Gases Market for Glass Industry: Major Vendors

Air Products and Chemicals Inc.:

The company provides industrial gases such as hydrogen and oxygen, which can be used to supplement or replace air-fuel combustion applications, resulting in more efficient glass cutting or polishing.

Air Water Inc.:

The company offers a wide range of industrial gases such as oxygen, nitrogen, argon, and others.

EPC Engineering & Technologies GmbH:

The company specializes in technical gases production under the brand name CRYOTEC.

Gulf Cryo Holding CSC:

The company produces industrial gases such as Silane, Acetylene, Oxygen, and others, which are used in glass melting, lubricant spread over the mould in glass bottles.

HYGEAR:

The company offers industrial gas solutions that play a vital role in producing high-quality flat glass.

Along with the market data, Technavio offers customizations as per the specific needs of companies. The following customization options are available for the industrial gases market for glass industry report: 

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Global Farnesene Market – Global farnesene market is segmented by application (cosmetics, flavor and fragrances, performance materials, and lubricants) and geography (Europe, APAC, North America, MEA, and South America).

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Industrial Gases Market For Glass Industry Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of almost 5%

Market growth 2021-2025

$ 744.67 million

Market structure

Fragmented

YoY growth (%)

4.35

Regional analysis

APAC, Europe, North America, South America, and MEA

Performing market contribution

APAC at 64%

Key consumer countries

China, US, Japan, Germany, and India

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Air Products and Chemicals Inc., Air Water Inc., EPC Engineering & Technologies GmbH, Gulf Cryo Holding CSC, HYGEAR, Linde Plc, Messer Group GmbH, Praxair Technology Inc., SOL Spa, and Taiyo Nippon Sanso Corp.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, and market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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