India Industrial Gases Market Expected to Reach US$ 4.63 Billion by 2027 | IMARC Group

According to the latest report by IMARC Group, The India industrial gases market size reached US$ 2.79 Billion in 2021.

INDIA, February 7, 2023 /EINPresswire.com/ -- According to the latest report by IMARC Group “India Industrial Gases Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, The India industrial gases market size reached US$ 2.79 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 4.63 Billion by 2027, exhibiting a growth rate (CAGR) of 8.7% during 2022-2027. This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.

Industrial gases are manufactured in enormous amounts for employment in several industrial processes. These fumes are commonly known as fuel, refrigerant, medical, or specialty, depending on their utilization in various sectors. Industrial gases consist of versatile carbohydrates with texture and taste similar to table sugar and low calories. They are also utilized in the food and beverage (F&B) industry as a sugar replacement in products, such as candies, fruit spreads, ice creams, yogurts, chewing gums, etc. Industrial gases, including oxygen and helium, provide a base for life support for artificially ventilated patients and modern anesthetic techniques. As a result, these fumes find widespread applications across several sectors, such as manufacturing, healthcare, metallurgy, chemical, energy, etc. 

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Covid-19 Impact:

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

India Industrial Gases Market Trends and Drivers:

The escalating demand for these fumes in the chemical industry to produce flexible and rigid foams, elastomers, sealants, polyurethane coatings, adhesives, etc., is among the primary factors driving the India industrial gases market. Besides this, the rising utilization of these vapors in the oil and gas sector for controlling various refinery processes is further augmenting the market growth. Moreover, the growing popularity of gas-based foams in the automotive industry for producing ventilator headliners, headrests, seating, armrest, etc., is also catalyzing the market across India. Apart from this, the elevating requirement for gases, including oxygen and hydrogen in propellants, to launch rockets that carry communications, broadcasts, and meteorological satellites is acting as another significant growth-inducing factor. Furthermore, the inflating need for protective components, exterior panels, building materials, housing electronics, etc., is anticipated to propel the India industrial gases market over the forecasted period.

Report Segmentation:

The report has segmented the market into the following categories:

Breakup by Type:

Nitrogen
Oxygen
Carbon Dioxide
Argon
Hydrogen
Others

Breakup by Application:

Manufacturing
Metallurgy
Energy
Chemicals
Healthcare
Others

Breakup by Supply Mode:

Packaged
Bulk
On-Site

Breakup by Region:

North India
West and Central India
South India
East India

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

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