Chemical Processing and Petroleum Refining Lead Worldwide Industrial Gas Markets

Global Information Inc. would like to present a new market research report, "WORLD INDUSTRIAL GASES (Industry forecasts for 2014 & 2019)" by The 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.