A forecast of industrial gas use foresees growth through 2018 in the so-called BRICS nations (Brazil, Russia, India, China and South Africa) with challenges posed by both transportation and storage.
Danbury-based Praxair Inc. was a source for the report, along with three other international industry players: Air Liquide, Linde Group and Air Products and Chemicals Inc.
The industrial gases market consists of hydrogen, nitrogen, oxygen, carbon dioxide, argon, helium and acetylene.
The data were reported by Dublin, Ireland-based Research and Markets.
“A rise in population and industrialization in BRICS nations will drive the major growth of the industrial gases market,” the study said. “Growth in associated industries such as transportation, food and beverages, metal fabrication and chemical manufacturing are some of the other drivers for the global industrial gases market. However, high costs of transportation and the storage of industrial gases is expected to be a key challenge for market participants.”
The report analyzes the industrial gases market relative to market size, market share and competition. It also estimates the market in terms of revenue for the period 2012-2018, deeming 2011 as the base year.