Global industrial gas market will reach 52 billion US dollars

According to the latest research report released by the United States Friedonia Group, the global industrial gas market will grow at an average annual rate of 8% in the next five years. By 2015, the global industrial gas market will be close to US$52 billion. In terms of consumption, the global industrial gas market demand will increase at an average annual rate of 5% over the next five years. By 2015, the total market volume will reach 530 billion cubic meters.
The report pointed out that the chemical and refining industries are large industrial gas consumers, accounting for about 40% of the total global industrial gas consumption. In the field of chemical production, industrial gases are mainly used as raw materials or as a reaction and neutralization medium, serving as a system protection or participating in reactions. In the refining industry, the development of clean fuels has stimulated strong growth in hydrogen demand. Some countries that have already strictly implemented clean fuel standards are currently using a significant amount of hydrogen, while those countries that are about to implement clean fuel standards will also consume large amounts of hydrogen. Refineries are generally unable to meet the hydrogen required to produce clean fuels, and most of the new hydrogen needs to be supplied by industrial gas producers.
The metal production and manufacturing sector is the second largest industrial gas consumer market in the world and will account for 24% of total consumption by 2014. The global economic recession has led to a significant drop in steel production in many mature economies in recent years. However, as the economy recovers, the steel industry has returned to normal production levels, so the demand for gas in this market is rapidly returning to pre-recession levels.
The Friedonia Group pointed out that in the next five years, the demand for industrial gases in emerging industrial economies in the Asia-Pacific region will grow fastest in the world, especially in China and India; the demand growth of some developed industrial economies will be slow; Demand growth in some developing regions (including Latin America, Africa, and the Middle East) will exceed the global average. Data show that the industrial gas market in Africa will increase from 2.094 billion U.S. dollars in 2010 to 2.546 billion U.S. dollars in 2015. The market in the CIS countries will increase from 3.007 billion U.S. dollars to 3.327 billion U.S. dollars, and that in East Asia will come from 11.042 billion U.S. dollars. Increased to US$ 14.232 billion, Eastern Europe from US$ 962 million to US$ 1.049 billion, Middle East from US$ 3.534 billion to US$ 3.951 billion, North American Free Trade Area from US$ 106.58 billion to US$ 11.703 billion, and Latin America from 31.88 The U.S. dollar increased to US$4.144 billion, and Western Europe increased from US$9.063 billion to US$9.551 billion.

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