The latest report by IMARC Group, titled “Asia Pacific Industrial Gases Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, The Asia Pacific industrial gases market size reached US$ 35.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 49.6 Billion by 2028, exhibiting a growth rate (CAGR) of 5.56% during 2023-2028.
Industrial gases are essential components used across various industries in the Asia Pacific region. These gases, including oxygen, nitrogen, carbon dioxide, argon, hydrogen, and specialty gases, play a pivotal role in numerous industrial processes. They are utilized for their chemical properties, such as reactivity and inertness, or as a cooling or heating medium. Industrial gases are integral in numerous sectors like metal processing, healthcare, food and beverage preservation, water treatment, and electronics manufacturing. Their ability to enhance process efficiency, productivity, and environmental sustainability makes them indispensable in modern industrial operations. At present, the industrial gases market in Asia Pacific is witnessing significant growth due to the region's expanding industrial base and technological advancements in gas production and application methods.
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Soft Drinks Market Trends and Drivers:
The Asia Pacific industrial gases market is primarily driven by rapid industrialization, technological advancements, and a growing emphasis on environmental sustainability. Moreover, as economies in this region continue to develop, there is a heightened demand for industrial gases in sectors such as manufacturing, healthcare, and electronics. Along with this, the significant expansion of these industries owing to the expanding population, elevating levels of urbanization, and robust economic growth, particularly in emerging countries like China, India, and Southeast Asia, is propelling market growth. Additionally, technological advancements in gas production and application techniques are enhancing efficiency and reducing operational costs, thus stimulating market growth. Furthermore, there is a rising awareness and adoption of environmentally sustainable practices, leading to an increased demand for cleaner and greener industrial gases. This is supported by favorable government initiatives and regulations aimed at reducing emissions and promoting eco-friendly industrial processes, further fueling market growth in the Asia Pacific region.
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 Country:
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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