NEW YORK, May 17, 2016 /PRNewswire/ --
Growing End User Industries Coupled With Continuous Capacity Additions of Existing as Well as New Projects to Drive the India Industrial Gases Market Until 2021
According to TechSci Research report, "India Industrial Gases Market By Type, By End User, Competition Forecast and Opportunities, 2011 - 2021", the market for industrial gases in India is projected to reach US $ 2.2 billion by 2021, on account of implementation of various favorable government policies to support manufacturing sector, coupled with growing demand from various end user industries, especially metallurgy and petrochemicals. Various upcoming steel projects are integrating industrial gas production units to address the bulk requirements for industrial gases, thereby positively influencing the India industrial gases market.
Browse 9 market data Tables and 31 Figures spread through 125 Pages and an in-depth TOC on "India Industrial Gases Market"
In order to sustain in highly competitive India industrial gases market, companies are investing heavily on establishing industrial gas plants all across the country. For instance, Tata Steel is building a 55,000 TPA Ferrochrome Plant at Gopalpur, Odisha. By the end of 2020, steel production in India is forecast to reach 200 million metric tons. Consequently, industrial gas companies are collaborating with various steel producers for addressing their industrial gas requirements. In 2015, Praxair announced its long term contract with Gerdau, a US based leading steel manufacturer, for the supply of gaseous oxygen to its facility located at Tadipatri, Andhra Pradesh.
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In 2015, Oxygen dominated the India industrial gases market, owing to its wide applications in metallurgy industry, such as welding, fabrication and other processes. Oxygen enriched atmosphere is used in chemical refining and heating associated with carbon removal from materials. In India, Oxygen is often stored as a liquid, although it is used primarily as a gas. In 2015, east region dominated the industrial gases market in the country on account of various upcoming metallurgical projects coupled with presence of major steel production units in this region.
"Government of India is focusing on continuing economic development in the country. With huge initiatives like 'Make in India', the iron & steel sector is projected to grow at a CAGR of more than 15%, in volume terms, during 2015-2020. With new iron and steel plants anticipated to become operational over the next five years, the demand for industrial gases is further forecast to increase at a robust pace during the forecast period." said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
"India Industrial Gases Market By Type, By End User, Competition Forecast and Opportunities, 2011 - 2021" has evaluated the future growth potential of industrial gases market in India and provide statistics and information on market structure, industry behavior and trends. The report includes market projections and demand forecasting. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyzes emerging trends along with essential drivers, challenges and opportunities available in India industrial gases market.
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