LONDON, Sept. 20, 2016 /PRNewswire/ -- Industrial gases are also referred to as bulk gases or commodity gases; they are produced in relatively large quantities by companies for use in a variety of industrial manufacturing processes. The industrial gas industry comprises establishments primarily engaged in manufacturing industrial organic and inorganic gases in compressed, liquid, and solid forms.
Industrial gas accounted for XX% of the chemicals market in 2014. While they play an important role in many manufacturing industries, industrial gases are often relatively low cost as they can be derived from commonly available ingredients, reducing the size of the market in comparison to other chemicals.
Asia was the largest geographic market in the industrial gas market in 2015, accounting for $XX billion or XX% of the global market. Asia is the largest market because of the robust manufacturing Industry in China and India. Europe was the second largest geographic market, accounting for $XX billion or XX% of the global market. The Americas was the third largest geographic market, accounting for $XX billion or XX% of the global market.
Global per capita industrial gas consumption grew from $XX in 2011 to $XXin 2015 at a CAGR of XX% and is expected to grow to $XX in 2019 at a CAGR of XX%. Per capita consumption is increasing because of increased demand for hydrogen, helium and nitrogen gases in fertilizers and manufacturing industries.
Cars powered by hydrogen gas are being produced by some automobile manufacturers. These cars produce lower emissions than traditional vehicles, as the only emission from the car is water either in the form of water vapour or droplets there are no emissions of carbon dioxide, nitrogen or particulates. Consumers' preference for alternative fuel vehicles is driving the demand for hydrogen powered vehicles and hydrogen gas. For example, Toyota launched hydrogen-electric fuelled Mirai car in October 2015 thereby indicating the possibilities for increases in hydrogen gas demand through the automobile industry.
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