LONDON, Oct. 26, 2017 /PRNewswire/ -- The Asia industrial gas market was the largest in the world. It currently has about 34% share of the global industrial gas market. The market in the Asia grew at a CAGR of around 5.5% in the historic period and is expected to grow at a CAGR of over 6.0% in the forecast period. This is mainly due to the presence of a large number of automotive, food and beverages and oil and gas companies, which is driving the demand for the industrial gases in the country.
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Nitrogen was the largest segment in the industrial gas market with around 28% share of the market. Nitrogen had the largest segment share in Asia due to the presence of a large number of electronic manufacturing companies in region, especially in countries such as China, Japan, Singapore, Malaysia and Thailand. Oxygen was the second largest segment with around 27% share of the industrial gas market.
Hydrogen was the third largest segment with around 10% share of the industrial gas market.
Global industrial gas mergers and acquisitions (M&A) are expected to increase in the coming years, building on a strong year of activity in 2016 and 2015 where companies like Air Liquide, Praxair acquired other companies at high values. For example, Air Liquide acquired Air Gas for $10.3 billion in May 2016. Industrial gas companies are continuing to realign portfolios and pursue profitable inorganic growth opportunities. In addition, M&A interest is likely to be fueled by stronger corporate balance sheets, liquid debt markets, and continued favorable interest rates.
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