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Tuesday 17 July 2018

Food, healthcare industries to drive industrial gases market




Industrial gases also referred to as bulk gases or commodity gases. are produced in large quantities for use in a variety of industrial manufacturing processes. The industrial gas industry comprises manufacturers of industrial organic and inorganic gases in compressed, liquid, and solid forms, according to a report by The Business Research Company.
The global industrial gas market is forecast to grow at a compound annual rate of 4.44% between 2017 and 2021. This growth is being driven by global economic growth, particularly in emerging economies, and by the increased use of gas in the food and beverages and healthcare industries.
Asia Pacific’s industrial gas market is the largest in the world at 35% of the total market, worth nearly $26 billion. Asia Pacific’s large market size results in part from the presence of the many electronic manufacturing companies in the region, especially in countries such as China, Japan, Singapore, Malaysia and Thailand. North America’s industrial gas market is the second largest in the world with a 31% share of the market, worth nearly $23 billion.

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