Air Products Market was valued at USD 60 Billion in 2022 and is projected to reach USD 90 Billion by 2030, growing at a CAGR of 5.5% from 2024 to 2030.
The global air products market has been steadily growing in recent years due to the increasing demand for air-based products in various industries. These products are primarily used in applications like food preservation, medical uses, and enhancing industrial processes. The air products market is vast and includes subsegments such as the food industry, plastic and rubber industry, medical and healthcare industry, metal manufacturing industry, and chemicals and petroleum industry. Each of these sectors has its unique needs and requirements, contributing to the overall market growth. As industries continue to expand, the demand for high-quality air products is expected to increase in parallel.
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The food industry is one of the key sectors benefiting from air products. Gases such as nitrogen, oxygen, and carbon dioxide are extensively used in food packaging, storage, and preservation. Nitrogen, for example, is used to displace oxygen in packaging, reducing spoilage and extending shelf life. Oxygen, on the other hand, plays a vital role in controlled atmosphere storage of fresh produce. Additionally, carbon dioxide is used in food carbonation and maintaining the quality of perishable items. The air products market in the food industry is driven by the increasing demand for convenience foods, the need for long shelf life, and advancements in packaging technologies.
As the global population grows and the demand for food increases, the role of air products in the food industry becomes even more crucial. The increasing demand for frozen foods, ready-to-eat meals, and processed foods is boosting the need for gases that preserve the quality and safety of these products. Innovations such as modified atmosphere packaging (MAP) and the growing trend toward plant-based foods are also contributing to the market's expansion. Furthermore, regulatory standards for food safety and quality assurance are driving the adoption of advanced air-based solutions in food processing and packaging.
The plastic and rubber industry is another significant application for air products, especially gases like nitrogen and oxygen. Nitrogen is commonly used in the production of plastic materials, where it is employed in inerting applications to prevent oxidation during the manufacturing process. It also helps in polymerization, creating strong and durable plastic products. Similarly, oxygen plays an essential role in the production of synthetic rubber, which is widely used in automotive and industrial applications. Air products are also integral in enhancing the physical properties of plastic and rubber, improving product quality, and optimizing manufacturing efficiency.
The need for environmentally friendly production processes and energy-efficient manufacturing methods has led to an increased use of air products in the plastic and rubber industries. For instance, nitrogen is being used for purging and blanketing processes to improve safety standards and reduce waste. The growing demand for sustainable and recyclable materials in the plastic industry is also driving innovation in the use of gases to improve recycling processes and reduce environmental impact. As the industry evolves, air products are expected to play a critical role in meeting the challenges of material sustainability and production efficiency.
The medical and healthcare industry relies heavily on air products such as oxygen, nitrogen, and nitrous oxide. Oxygen is vital for medical treatments, providing life support for patients with respiratory conditions and aiding in surgical procedures. Nitrogen is commonly used in cryogenics for the preservation of biological samples and in cryosurgery, while nitrous oxide is a popular anesthetic in dental and surgical applications. The air products market in healthcare continues to grow as advancements in medical technologies and an aging population increase the need for medical gases.
With an increasing number of healthcare facilities globally, the demand for air products is poised for significant growth. The rise in home healthcare services, as well as the need for more specialized treatments, has also spurred demand for medical gases. The COVID-19 pandemic highlighted the importance of oxygen supply in critical care, accelerating the adoption of reliable air products. Furthermore, the growing trend of personalized medicine, which requires precision in treatments, will likely lead to further advancements in the air products used in the healthcare sector.
The metal manufacturing industry uses a variety of air products, including oxygen, nitrogen, and argon, for a range of applications. Oxygen is commonly used in steel production, particularly in blast furnaces, where it enhances combustion and increases production efficiency. Nitrogen is essential in heat treating and annealing processes, where it is used to control the atmosphere in furnaces to prevent oxidation and improve product quality. Argon, as an inert gas, is vital for welding and metal cutting applications, providing a controlled environment that minimizes contamination and improves the strength of the welds.
The increasing demand for high-performance materials and advancements in metal processing techniques are driving the growth of air products in the metal manufacturing sector. As industries demand more durable, lightweight, and corrosion-resistant metals, the role of air products in improving manufacturing processes becomes even more critical. The move towards automation in the metal industry, along with a focus on reducing energy consumption and improving production speed, is also expected to contribute to the increased use of air products in metal manufacturing processes.
The chemicals and petroleum industry relies heavily on air products for a range of applications including refining, chemical production, and gas separation. Oxygen and nitrogen are essential in the production of chemicals like ammonia and hydrogen, both of which are critical raw materials in fertilizer production and energy generation. Nitrogen is also used extensively in inerting and purging operations, while oxygen is used to enhance combustion in refineries. The air products market in this industry is driven by the increasing global demand for chemicals, fuels, and energy, as well as the need for improved process efficiency and environmental sustainability.
The growing emphasis on reducing carbon emissions and improving energy efficiency is leading to innovations in the chemicals and petroleum industries, which in turn is boosting the demand for air products. Technologies such as carbon capture and storage (CCS) rely on air products for separation and purification processes. Additionally, the rise of green chemistry and renewable energy is pushing the need for advanced air-based solutions that support cleaner, more efficient production methods. As the world transitions to more sustainable energy sources, air products will play a key role in supporting these shifts in the chemicals and petroleum sector.
The air products market is witnessing several key trends that are shaping its future growth. One prominent trend is the increasing demand for environmentally sustainable solutions across all industries. With growing concerns over climate change and the environmental impact of industrial processes, companies are increasingly turning to air products that can help reduce emissions, improve energy efficiency, and support greener manufacturing practices. Additionally, technological advancements in air separation, storage, and distribution are driving efficiency gains and lowering costs, creating new opportunities for growth.
Another significant trend is the shift toward industrial automation, where air products play a crucial role in improving operational efficiency and reducing human error. As industries embrace automation, the demand for high-quality air products that can support advanced manufacturing systems is expected to increase. The rise of emerging markets, particularly in Asia and Africa, presents significant growth opportunities for the air products market, as industrialization and urbanization lead to greater demand for air products across various sectors. The expansion of the healthcare and food industries, along with the need for high-performance materials in manufacturing, will continue to fuel growth in the air products market.
1. What are air products used for?
Air products are used in various industries such as food preservation, medical treatments, and industrial manufacturing processes. They include gases like oxygen, nitrogen, and carbon dioxide.
2. How is nitrogen used in the food industry?
Nitrogen is used in food packaging to displace oxygen, which helps preserve the freshness of food and extends its shelf life by reducing spoilage.
3. Why is oxygen important in the medical field?
Oxygen is essential in the medical field for supporting patients with respiratory issues, as well as for surgical procedures requiring anesthesia and life support.
4. What role does air play in the plastic and rubber industries?
Air products like nitrogen are used to control oxidation during plastic manufacturing, while oxygen aids in synthetic rubber production, improving material quality.
5. How does the metal manufacturing industry use air products?
Air products like oxygen and nitrogen are used in metal manufacturing to enhance combustion, prevent oxidation, and control atmospheres during metal processing.
6. What is the main application of air products in the petroleum industry?
In the petroleum industry, air products such as oxygen and nitrogen are used in refining processes, including combustion enhancement and gas separation.
7. How do air products help in food preservation?
Air products such as carbon dioxide and nitrogen are used to create controlled atmospheres in packaging, helping to preserve food and maintain its quality during storage.
8. What innovations are driving the demand for air products?
Innovations in packaging technologies, sustainable manufacturing, and medical treatments are increasing the demand for air products in various industries.
9. How are air products used in the healthcare sector?
Air products such as oxygen are critical for patient care, while gases like nitrous oxide are used for anesthesia and cryogenics for medical treatments.
10. Are air products important for energy efficiency in manufacturing?
Yes, air products help optimize industrial processes, improve energy efficiency, and reduce emissions, contributing to more sustainable manufacturing practices.
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Linde
Air Liquide
Air Products and Chemicals Inc
Taiyo Nippon Sanso
Messer Group
Yingde Gases
Hangzhou Hangyang
Sichuan Qiaoyuan Gas
Rasgas
Gazprom
PGNiG
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Air Products Market
Food Industry
Plastic and Rubberin Industry
Medical and Healthcare Industry
Metal Manufacturing Industry
Chemicals and Petroleum Industry
Based on Types the Market is categorized into Below types that held the largest Air Products market share In 2023.
Nitrogen
Oxygen
Inert Gas
Others
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
1. Introduction of the Global Air Products Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Air Products Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Air Products Market, By Type
6. Global Air Products Market, By Application
7. Global Air Products Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Air Products Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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