LONDON, Aug. 23, 2016 /PRNewswire/ -- The report, GCC industrial gases market, lists seven industrial gases, namely, oxygen, nitrogen, helium, acetylene, argon, hydrogen and carbon dioxide and studies their demand and forecast across various applications for the period of 2016 - 2022 in the GCC market.
The GCC industrial gases market is anticipated to witness significant revenue growth over the forecast period, owing to their rising demand for different end-to-end applications across various industries such as metals and metallurgy, medical & healthcare, welding & metal fabrication, automotive & aerospace, refining, chemicals, pulp & paper etc., in the GCC region.
Several large-scale infrastructural projects, as part of government's development program, in line with key regional events such as Dubai Expo 2020 and FIFA World Cup 2022, Qatar, are expected to emerge as major drivers for rise in demand for industrial gases in the GCC region. Besides, increasing production output from chemical and petrochemical industry is further expected to push the demand for industrial gases to grow at a high CAGR over the forecast period. Infrastructural and developmental changes in the regional healthcare industry, led by government's efforts to reduce overall operating costs of average medical treatments are also estimated to contribute significantly to the GCC industrial gases market.
High energy costs associated with the production and distribution of industrial gases is one of the major challenges faced by industrial gases manufacturers in the GCC region. Major opportunities for growth in the GCC industrial gases market lies with the optimization in production and distribution of gases, in order to make the process safer and cost effective. Global players, in order to capitalize on lucrative growth opportunities in the GCC region, are found to have been entering the regional market through acquisitions/ JVs with the regional players; over the last couple of years, companies such as the Linde group, Air Liquide, Praxair Inc. and Air Products & Chemicals Inc. have significantly increased their footprint in the GCC industrial gases market.
To understand and assess the demand and opportunities in this market, the report is categorically split into three major sections, namely market analysis – by gas type, by application, and by country. In order to understand the application section of the report more comprehensively, application-specific segmentation is provided for each gas and in each country of the region. The report analyzes the GCC industrial gases market both in terms of market value (US$ Mn) and volume (Tonnes).
The report starts with market overview and provides market definition and analysis about the drivers, restraints, opportunities, and key trends in the market. The following sections include analysis of the GCC market – by gas type, by application, and by country. All the three sections evaluate the market on the basis of various factors affecting the market, covering the present scenario and future prospects. For market data analysis, the report considers 2014 as the base year, with market numbers estimated for 2015 and 2016 and the forecast provided for 2017–2022.
The GCC industrial gases market is segmented as follows:
By Gas Type
On the basis of Gas type, the market is segmented into:
The argon segment is anticipated to expand at the fastest CAGR over the forecast period in the GCC industrial gases market in terms of revenue, followed by the oxygen segment. This section comprehensively analyzes the market on the basis of product type and presents an in-depth detail of the market size in terms of value and volume for 2016-2022.
On the basis of application, the market is segmented into:
Metals and Metallurgy
Medical & Healthcare
Welding & Metal Fabrication
Automotive & Aerospace
Energy, Oil & Gas
Food & Beverage
Pulp & Paper
Pharmaceutical & Biotechnology
The application specific segmentation is considered for each gas in each country to assess the market more comprehensively. Metals and metallurgy segment is expected to expand at the highest CAGR of 8.4% in terms of value during the forecast period, followed by the healthcare and metal fabrication segments respectively.
This section analyzes the market on the basis of application and presents comprehensive market size details in terms of value and volume over the forecast period.
Countries covered in the report includes:
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