Press Release

Chemical Processing and Petroleum Refining Lead Worldwide Industrial Gas Markets


August 13th, 2010

Global Information Inc. would like to present a new market research report, "World Industrial Gases" by Freedonia Group.

A new report from the Freedonia Group states, "World demand for industrial gases is forecast to increase 8.0 percent annually to $52.4 billion in 2014". The United States currently represents the largest national consumer of industrial gases; however, China is anticipated to overhaul the U.S. by 2014.

Key Findings in this Report:

  • Asia/Pacific region will exhibit fastest growth driven by expanding manufacturing base.
  • Among more mature economies, North America and Western Europe expected to trail behind average global rates of growth.
  • The Middle East/Africa region should surpass average global growth rate through 2014 due to emerging industrial economy, large petroleum reserves and refining industry, plus a small base at present.
  • Chemical processing and petroleum refining segment to dominate industrial gas market.
  • Hydrogen consumption in oil refineries will fuel gains in the chemical processing and petroleum refining segment.
  • Metals production and fabrication will be the second largest market for industrial gases.
  • Gains in the healthcare market for industrial gases will depend on healthcare service expansion in developing nations and boosting home health care respiratory therapies in advanced economies.

WORLD INDUSTRIAL GAS DEMAND
% Annual Growth
Item2004200920142004-20092009-2014
      
World Industrial Gas Demand2682535660523905.98.0
North America70808370114403.46.4
Western Europe5120583074802.65.1
Asia/Pacific949014880237809.49.8
Central & South America1740219531704.87.6
Eastern Europe2065257536804.57.4
Africa/Mideast1330181028406.49.4

© 2010 by The Freedonia Group, Inc.


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