PUBLISHER: Grand View Research | PRODUCT CODE: 1405062
PUBLISHER: Grand View Research | PRODUCT CODE: 1405062
U.S. Industrial Gases Market Size, Share & Trends Analysis Report By Product (Nitrogen, Hydrogen, Carbon Dioxide), By Application (Healthcare, Manufacturing), And Segment Forecasts, 2024 - 2030
U.S. Industrial Gases Market Growth & Trends:
The U.S. industrial gases market is estimated to reach USD 39.38 billion by 2030, according to a new report by Grand View Research, Inc, projected to grow at a CAGR of 6.7% from 2024 to 2030. This growth has been attributed to and increasing application of these gases in various industries such as manufacturing, healthcare, food & beverages, and metallurgy, are expected to influence the growth of the market for U.S. industries gases in the coming years.
In the U.S. market, oxygen is widely used in steel and copper production, medical applications, and fuel efficiency improvement programs. The execution of the oxygenation process in furnaces can result in efficient energy generation that is required in steel, cement, and copper production. Oxygen can also be used for cleaning hazardous materials and treating polluted water. It is used in coal gasification systems as well. Additionally, it can be employed as an alternative to chlorine in the pulp & paper industry to reduce pollution.
The demand for industrial gases is surging in the electronics industry in the U.S. owing to their use in printed electronics, semiconductors, and flat-panel displays. This industry uses industrial gases such as sulfur hexafluoride (SF6), nitrogen trifluoride (NF3), and silane (SiH4) to develop cutting-edge components such as silicon wafers and integrated circuits, flat-panel displays, and compound semiconductors. Industrial gases are required in the electronics industry to carry out innovations and new product developments.
Nitrogen and argon gases are used in the production of plasma screens, while helium is employed for the development of hard disk drives. Additionally, industrial gases are used to cool electronic systems during manufacturing processes, particularly the ones that are used for producing high-performance microprocessors. Thus, the availability and effective use of industrial gases have significantly impacted the electronics industry by improving efficiency, quality, and output.
The development of carbon capture, utilization, and storage (CCUS) technologies creates opportunities for the growth of the industrial gas market as these technologies require carbon dioxide for use in enhanced oil recovery (EOR) operations. They are also used for sequestering carbon dioxide from geological formations.
The industrial gas market in the U.S. is not only competitive but highly consolidated as well. The leading players operating in the market are Air Liquide, Messer North America, and Linde Plc & Air Products and Chemicals, Inc. These companies account for a large share of the industrial gas market in the U.S. They have a large customer base globally. Moreover, these large manufacturers cater to the industrial gas requirements of almost every end-use industry owing to their broad product portfolios.
U.S. Industrial Gases Market Report Highlights:
- Oxygen emerged as the fastest-growing product segment with a CAGR of 7.0% from 2024 to 2030, the versatility of oxygen makes it a vital component in the healthcare and chemicals industries. In hospitals and health clinics, medical oxygen is essential for a variety of surgeries and therapies
- Oxygen is also used for welding, metal cutting, cleaning, and melting applications. Furthermore, oxygen is used to maintain the fresh and natural color of red meat in the food industry
- Healthcare is the fastest growing product segment with a CAGR of 7.3% from 2024 to 2030 owing to the rising health conditions among people
- Increasing demand for industrial gases from various end-use industries in U.S. has encouraged the market players to increase their regional footprint and broaden their product range. Some key companies actively operating in this market are The Linde Group, Messer Group, Air Products & Chemicals Inc., Air Liquide, etc
- Numerous product developments and innovations are being made by the industry players in order to serve a larger geographical portion, further increasing their market share in the industry. For instance, in January 2023, Air Liquide signed multiple long-term contracts to provide hydrogen, nitrogen, and oxygen to customers in the expanding markets of metals, glass, secondary electronics, and water purification for its industrial merchant business line
- Moreover, players also adopt the expansion strategy to increase the reach of their products in the market. Key market players adopting this inorganic growth strategy include INOX-Air Products, Air Liquide, and Linde plc. For instance, Linde Company plans to build a new helium processing plant in Freeport by 2024, which will purify and liquefy recovered helium for use in end-use industries in the U.S. The plant will produce nearly 200 MCF (million cubic feet) of helium
Table of Contents
Chapter 1 Methodology and Scope
- 1.1 Market Segmentation & Scope
- 1.2 Market Definition
- 1.3 Information Procurement
- 1.3.1 Purchased Database
- 1.3.2 GVR's Internal Database
- 1.4 Information analysis
- 1.5 Market formulation & data visualization
- 1.6 Data validation & publishing
- 1.6.1 Research scope and assumptions
- 1.6.2 List of Data Sources
Chapter 2 Executive Summary
- 2.1 Market Snapshot
- 2.2 Segment Snapshot
- 2.3 Competitive Landscape Snapshot
Chapter 3 U.S. Industrial Gases: Market Variables, Trends & Scope
- 3.1 Market Lineage Outlook
- 3.1.1 Global Industrial Gases Market Outlook
- 3.2 Industry Value Chain Analysis
- 3.2.1 Raw Material Trends
- 3.2.3 Manufacturing/Technology Trends
- 3.3.3 Sales Channel Analysis
- 3.3 List of Potential End-Users
- 3.4 Factors influencing prices
- 3.5 Regulatory Framework
- 3.6 Market Dynamics
- 3.6.1 Market Driver Analysis
- 3.6.2 Market Restraint Analysis
- 3.6.3 Market Challenge Analysis
- 3.6.4 Market Opportunities Analysis
- 3.7 Industry Analysis Tools
- 3.7.1 PORTERs Analysis
- 3.7.2 Macroeconomic Analysis- PESTLE Analysis
Chapter 4 U.S. Industrial Gases: Supplier Portfolio Analysis
- 4.1 List of Key Raw Material Suppliers
- 4.2 Portfolio Analysis/Kraljic Matrix
- 4.3 Engagement Model
- 4.4 Negotiation Strategies
- 4.5 Sourcing Best Practices
Chapter 5 Las Vegas Industrial Gases Market Outlook
- 5.1 Product Estimates & Trend Analysis
- 5.1.1 Product Movement Analysis & Market Share, 2023 & 2030
- 5.1.1.1 Nitrogen
- 5.1.1.2 Hydrogen
- 5.1.1.3 Carbon Dioxide
- 5.1.1.4 Oxygen
- 5.1.1.5 Argon
- 5.1.1.6 Acetylene
- 5.1.1 Product Movement Analysis & Market Share, 2023 & 2030
- 5.2 Application Estimates & Trend Analysis
- 5.2.1 Application Movement Analysis & Market Share, 2023 & 2030
- 5.2.1.1 Healthcare
- 5.2.1.2 Manufacturing
- 5.2.1.3 Metallurgy & Glass
- 5.2.1.4 Food & Beverages
- 5.2.1.5 Retail
- 5.2.1.6 Chemicals & Energy
- 5.2.1.7 Others Applications
- 5.2.1 Application Movement Analysis & Market Share, 2023 & 2030
Chapter 6 U.S. Industrial Gases Market: Product Estimates & Trend Analysis
- 6.1 Product Movement Analysis & Market Share, 2023 & 2030
- 6.1.1 Nitrogen
- 6.1.2 Hydrogen
- 6.1.3 Carbon Dioxide
- 6.1.4 Oxygen
- 6.1.5 Argon
- 6.1.6 Acetylene
Chapter 7 U.S. Industrial Gases Market: Application Estimates & Trend Analysis
- 7.1 Application Movement Analysis & Market Share, 2023 & 2030
- 7.1.1 Healthcare
- 7.1.2 Manufacturing
- 7.1.3 Metallurgy & Glass
- 7.1.4 Food & Beverages
- 7.1.5 Retail
- 7.1.6 Chemicals & Energy
- 7.1.7 Others Applications
Chapter 8 Competitive Landscape
- 8.1 Recent Developments & Impact Analysis, By Key Market Participants
- 8.2 Company Categorization'
- 8.3 Vendor Landscape
- 8.3.1 List Of Key Distributors & Channel Partners
- 8.3.2 List Of End-Users
- 8.4 Company Market Positioning Analysis, 2023
- 8.5 Company Heat Map Analysis
- 8.6 Strategy Mapping
- 8.7 Company Listing (Business Overview, Financial Performance, Product Benchmarking)
- 8.7.1 Messer North America, Inc.
- 8.7.2 Air Products and Chemicals, Inc.
- 8.7.3 Linde plc
- 8.7.4 Air Liquide
- 8.7.5 Matheson Tri-Gas, Inc
- 8.7.6 BASF SE
- 8.7.7 MESA Specialty Gases & Equipment
- 8.7.8 Universal Industrial Gases, Inc.
List of Tables
- Table 1 List of Raw Material Suppliers
- Table 2 List of Potential End-Users
- Table 3 Recent Developments & Impact Analysis, By Key Market Participants
- Table 4 Company Heat Map Analysis
- Table 5 Financial Performance
- Table 6 Product Benchmarking
- Table 7 Key Companies launching new products.
List of Figures
- Fig. 1 U.S. Industrial Gases Market Segmentation & Scope
- Fig. 2 Information procurement
- Fig. 3 Data analysis models
- Fig. 4 Market formulation and validation
- Fig. 5 Data validation & publishing
- Fig. 6 U.S. Industrial Gases Market Snapshot
- Fig. 7 U.S. Industrial Gases Market Segment Snapshot
- Fig. 8 U.S. Industrial Gases Market Competitive Landscape Snapshot
- Fig. 9 Global Industrial Gases Market Value, 2023 (USD Billion)
- Fig. 10 U.S. Industrial Gases Market: Industry Value Chain Analysis
- Fig. 11 U.S. Industrial Gases Market Dynamics
- Fig. 12 U.S. Industrial Gases Market: Porter's Analysis
- Fig. 13 U.S. Industrial Gases Market: PESTLE Analysis
- Fig. 14 U.S. Industrial Gases Market Estimates & Forecasts, by Product: Key Takeaways
- Fig. 15 U.S. Industrial Gases Market Share, By Product, 2023 & 2030
- Fig. 16 Nitrogen Market Estimates & Forecasts, 2018 - 2030 (Kilotons) (USD Million)
- Fig. 17 Hydrogen Market Estimates & Forecasts, 2018 - 2030 (Kilotons) (USD Million)
- Fig. 18 Carbon Dioxide Market Estimates & Forecasts, 2018 - 2030 (Kilotons) (USD Million)
- Fig. 19 Oxygen Market Estimates & Forecasts, 2018 - 2030 (Kilotons) (USD Million)
- Fig. 20 Argon Market Estimates & Forecasts, 2018 - 2030 (Kilotons) (USD Million)
- Fig. 21 Acetylene Market Estimates & Forecasts, 2018 - 2030 (Kilotons) (USD Million)
- Fig. 22 U.S. Industrial Gases Market Estimates & Forecasts, by Application: Key Takeaways
- Fig. 23 U.S. Industrial Gases Market Share, By Application, 2023 & 2030
- Fig. 24 U.S. Industrial Gases Market Estimates & Forecasts, In Healthcare, 2018 - 2030 (Kilotons) (USD Million)
- Fig. 25 U.S. Industrial Gases Market Estimates & Forecasts, in Manufacturing, 2018 - 2030 (Kilotons) (USD Million)
- Fig. 26 U.S. Industrial Gases Market Estimates & Forecasts, in Metallurgy & Glass, 2018 - 2030 (Kilotons) (USD Million)
- Fig. 27 U.S. Industrial Gases Market Estimates & Forecasts, in Food & Beverages, 2018 - 2030 (Kilotons) (USD Million)
- Fig. 28 U.S. Industrial Gases Market Estimates & Forecasts, in Retail, 2018 - 2030 (Kilotons) (USD Million)
- Fig. 29 U.S. Industrial Gases Market Estimates & Forecasts, in Chemicals & Energy, 2018 - 2030 (Kilotons) (USD Million)
- Fig. 30 U.S. Industrial Gases Market Estimates & Forecasts, in Other Applications, 2018 - 2030 (Kilotons) (USD Million)
- Fig. 31 Key Company Categorization
- Fig. 32 U.S. Industrial Gases Market - Company Market Positioning Analysis - 2023
- Fig. 33 Strategic Mapping
