Growth, Trends, and Opportunities in the Industrial Gas Market: Key Insights for the Next Decade
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What is the Long-Term Projected Growth Rate for the Industrial Gas Market, and What Are the Key Drivers?
The market size for industrial gases in the glass industry has shown considerable growth in the past few years. The market is projected to expand from $4.17 billion in 2024 to $4.55 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 9.3%. The historic period’s growth is primarily driven by the heightened glass manufacturing procedures, production of float glass, the utilization of inert gas atmospheres, efforts for environmental and emission regulation, and improving melting furnace efficiency.
The size of the market for industrial gases in the glass industry is predicted to experience significant growth in the upcoming years, with expected growth to $6.64 billion by 2029 at a compound annual growth rate (CAGR) of 9.9%. This projected growth in the forecast period can be linked to sustainable manufacturing practices, the production of specialty glass, an increase in glass recycling, the development of global infrastructure, and a surge in the demand for flat glass. Noteworthy trends during this forecast period encompass advanced combustion technologies, cryogenic cooling solutions, gas control and monitoring systems, innovative technologies in gas delivery systems, and partnerships with glass manufacturers.
What Are the Primary Drivers Supporting the Growth of the Market?
The anticipated expansion of the industrial gases-glass market is largely attributed to the growing utilization of glass in the construction industry. This industry encompasses all activities connected to the building, repair, renovation, and upkeep of infrastructures. The role of glass has evolved to become an insulator, a key component in building structures, an external glazing material, and a cladding element. The capability of glass to transmit up to 80% of natural light, and provide sound and thermal insulation are primary factors for its increased use in construction projects. As reported by the UK’s Office for National Statistics in February 2023, the annual construction output of the country in 2022 scaled up by 5.6% from the previous year. This surge followed an extraordinary growth of 12.8% in 2021. Thus, the escalating usage of glass in the construction domain significantly propels the expansion of the industrial gases-glass market.
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Which Companies Are Leading the Charge in Expanding the Industrial Gas Market?
Major companies operating in the industrial gases-glass industry market include:
• Saint-Gobain_x000D_
• The Linde Group_x000D_
• Linde Gas Korea Ltd._x000D_
• Air Liquide SA_x000D_
• Air Products and Chemicals Inc._x000D_
What New Trends Are Reshaping the Industrial Gas Market and Its Opportunities?
Progress in technology is a main trend seeing a surge in interest in the industrial gases-glass market. Leading players in the market are focusing their energy on developing groundbreaking technologies in the industrial gas-glass sector. For example, in May 2022, SCHOTT, a glass producer based in the US, unveiled a climate-friendly method for producing glass that employs hydrogen. Their primary focus is on electrification that relies on hydrogen combustion and green energy. Electricity sourced from renewable energy is a crucial component of both approaches.
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How Are the Key Segments of the Industrial Gas Market Driving Opportunities and Innovations?
The industrial gases-glass industry market covered in this report is segmented –
1) By Type: Hydrogen, Oxygen, Nitrogen, Argon, Acetylene
2) By Function: Forming and Melting, Atmospheric Control, Finishing Or Polishing
3) By Transportation Mode: Cylinder And Packaged Gas Distribution, Merchant Liquid Distribution, Tonnage Distribution
4) By Application: Container Glass, Float Glass, Fiber Glass, Specialty Glass
Subsegments:
1) By Hydrogen: Gaseous Hydrogen, Liquid Hydrogen
2) By Oxygen: Gaseous Oxygen, Liquid Oxygen
3) By Nitrogen: Gaseous Nitrogen, Liquid Nitrogen
4) By Argon: Gaseous Argon, Liquid Argon
5) By Acetylene: Gaseous Acetylene, Liquid Acetylene
What Are the Top Regions Fueling Growth in the Industrial Gas Market?
North America was the largest region in the industrial gases-glass market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the industrial gases-glass industry market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
How Is the Industrial Gas Market Defined Across Different Regions?
Industrial gases-glass refers to the production of gases used to optimize the glass manufacturing process The industrial gases-glass is used in a variety of industrial manufacturing processes for producing glass cost-effectively. These gases improve energy efficiency, product quality, and environmental sustainability in glass production.
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