Summary of our market study

The global industrial gases market has experienced strong growth since 2020. Valued at $105.08 billion in 2023, the market is set to continue growing at a CAGR of 7.42% to 2030, potentially reaching $173.43 billion. This growth is mainly driven by the Asia-Pacific region, with a significant market share of 36.6%. The market is dominated by a few key players, with Air Liquide, Linde and Air Products accounting for over 75% of the global market. Despite promising prospects, challenges such as environmental regulations, safety concerns and the high costs of gas conversion could hamper even faster growth.

Fluctuating fortunes in the pivotal industrial gases sector

The evolution of the country's industrial gases market presents an intriguing tale of ups and downs. The sector plays a crucial role in a variety of industries, including chemicals, metallurgy, food processing and healthcare, supplying essential gases such as oxygen, nitrogen, argon, helium, carbon dioxide and acetylene, among others. The market has seen a remarkable resurgence, with sales soaring by 22% and 34% in the years 2021 and 2022 respectively, signalling renewed dynamism within the sector. The domestic market, valued at between 1.6 and 2.7 billion euros, has regained its equilibrium after a period of contraction caused mainly by increased dependence on imports. Nevertheless, a shift has taken place as the country grapples with the impacts of rising energy prices and a global pandemic - factors that have unexpectedly fuelled growth in the sector. On a global scale, the market is valued at an impressive US$100 billion, with expansion expected to exceed US$170 billion by the end of the decade, representing a compound annual growth rate of between 7 and 8%. The Asia-Pacific region is leading the charge, accounting for over a third of the market due to increased manufacturing activity. However, the industry faces challenges such as stringent environmental regulations, safety concerns and substantial costs associated with gas transformation processes.

Focusing on the gases themselves, hydrogen is emerging as a booming market, driven by increasing environmental legislation and its potential as a greener substitute in a variety of applications. Investment in the hydrogen economy is particularly noteworthy, with France pledging between 20 and 25 billion euros over the space of a decade, in order to achieve the ambitious goal of integrating hydrogen to make up between 10 and 15% of the EU's energy matrix by mid-century. The structure of the French market is emblematic of an oligopoly, with four titans dominating around 87% of the national market. Air Liquide, which holds more than half the share, was followed by a series of mergers and acquisitions that have shaped market dynamics. Even on the international scene, consolidation trends prevail. Despite global reach, production has tended to migrate abroad, in search of labor and operational savings.

Dominant forces in industrial gases: Air Liquide, Linde and Air Products

In the competitive landscape of the industrial gases market, a trilogy of titans emerge as the main players: Air Liquide, Linde and Air Products.

These three behemoths exert a formidable influence on the sector, reflecting an oligopolistic market structure in which a handful of companies hold considerable sway.

  • Air Liquide is a name synonymous with industrial gases, not only in France but worldwide. Its dominant presence is due to its extensive infrastructure and strong product portfolio in gases such as oxygen, nitrogen and hydrogen. The Paris-based company operates according to a philosophy of innovation and sustainability, constantly investing in state-of-the-art production techniques and expanding its field of action. With activities ranging from healthcare to the supply of electronic gases, Air Liquide's influence extends far beyond France's borders, making it a key figure in the industry's direction.

  • Linde, which merged with Praxair, is another industry stalwart with an equally impressive global footprint. This German-born company, which merged with Praxair, offers a wide range of products and is advancing the use of industrial gases in technology and healthcare. Linde's approach to mergers and acquisitions, as with Praxair, reflects a strategic perspective of market growth and consolidation. With an international network of production sites and a commitment to research and development, Linde remains at the forefront of meeting the complex demands of the industrial gases market.

  • Finally, Air Products, with its extensive network of production and distribution sites on every continent, cultivates a solid market position. The company is proud to supply a variety of industrial gases, specializing in areas such as propulsion fuels and unique applications for the technology sector. Their reach, like that of their counterparts, defies geographical boundaries and reflects a commitment to advancing the scope of industrial gases.

Together, these titans form an imposing trio. Their vast networks, commitment to innovation and proactive participation in mergers and acquisitions continue not only to shape the industrial gases landscape, but also to dictate the pace of its growth and evolution, ensuring their position as industry figureheads.

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Summary and extracts

1 Market summary

1.1 Market definition and presentation

Industrial gases are defined asmanufactured gases resulting from the distillation of air .

The scope of industrial gases includes :

  • oxygen
  • nitrogen
  • argon
  • helium
  • carbon dioxide
  • acetylene
  • other gases

Industrial gases are used in a wide variety of sectors: chemicals (oxygen, nitrogen, hydrogen, CO), food processing (nitrogen and CO2), metallurgy (oxygen, argon) and health (oxygen, nitrous oxide). [Chemistry Info]

The global market is booming due to increasing demand for industrial production and urbanization, as well as rising consumer spending on food and transport. In 2023, it is valued at105.08 billion US dollars, and should continue to grow at aCAGR of 7.42% over the period 2023-2030, reaching 173.43 billion US dollars in 2030. This growth is primarily driven by the Asia-Pacific region, which holds a 36. 6% share of the market [Grand View Research]

Nevertheless, environmental regulations, safety and the particularly high costs of gas conversion continue to be obstacles to faster growth. [Grand View Research]

In France, the market has been slowly declining due to import growth and the country's increasing dependence on foreign gas. However, 2021 and 2022 were years of growth, with salesincreasing by 22% and 34% respectively, reaching 2.71 billion euros in 2022. [Insee] . Soaring energy prices and the consequences of the pandemic should continue to drive growth in the French industrial gases market in the years ahead.

In France, as elsewhere in the world, the industrial gases market is dominated by a small number of players, and its structure is that of an oligopoly. The main players in France areAir Liquide, Linde and Air Products.

Finally, hydrogen is a gas whose development needs to be monitored, and in which the government and the EU are investing heavily.

1.2 The global market is expanding

The global industrial gas market is growing rapidly. In ****, it is valued at ***.** billion US dollars, and should continue to grow at a CAGR of *.**% over the period ****-****, reaching ***.** billion US dollars in ****. Global industrial gas market size World, ****-****, US$ billion Source: ****

Several factors are responsible for this sustained ...

1.3 A growing domestic market after 10 years of decline

The French industrial gas manufacturing business is listed by INSEE under the NAF **.**Znomenclature code: "Manufacture of industrial gases". INSEE gives this market size for ****: it amounted to *.** billion euros. This figure can be used to estimate the size of the medical imaging market in France in ****, by multiplying it by ...

1.4 International trade

In this section, we use UN Comtrade data to analyze the industrial gas trade. In particular, we use the code HS**** - Hydrogen, rare gases and other non-metals. This category is slightly larger than industrial gas, but the trends in terms of trading partners are applicable to the smaller industrial gas ...

2 Demand analysis

2.1 Which industries use which gas?

Source: ****

broad category

Indeed, the industrial gas market is a B*B market, and it mainly caters for four markets: large-scale industry (***) and electronics. Production in these markets therefore has a direct influence on the health of the industrial gas market in France.

Several markets are driving demand at a higher ...

2.2 Hydrogen: a booming market

Demand for hydrogen is growing worldwide and in France. Legislation concerning greenhouse gases is becoming stricter, and the refining industry is using hydrogen to reduce the sulfur content of fuels and lighten heavy hydrocarbons. [***] In terms of use, Hydrogen Europe states that hydrogen is the main manufacturing component used to produceammonia ...

2.3 Market breakdown by gas

Nitrogen

The global nitrogen market is valued at $**.* billion in **** and is expected to grow at a CAGR of *% over the period ****-****, reaching $** billion. This growth is fuelled by increasing industrial production in sectors such as metal fabrication [***]

France is particularly strong in the nitrogen fertilization segment of the global ...

3 Market structure

3.1 A highly concentrated market

In France, there are four major players , together accounting for **% of the market in ****. Among them, Air Liquide industrie France stands out, with a market share of **.*% in ****.

To calculate market share, we take the revenue of each player in industrial gas manufacturing in France (***), since the data available on the ...

3.2 The share of domestic production is shrinking

As explained in the AFGC, industrial gases can be produced by various processes, depending on the type of gas and the type of gas distribution to the customer . In general, air gases such as oxygen, nitrogen, argon, helium, krypton, xenon and neon are mainly produced by fractional distillation of air cooled ...

3.3 The two main distribution channels

Because of thecomplexity of transport arrangements and the high cost of transport, the main manufacturers of industrial gases are also the main distributors. Air Liquide explains that transport costs limit the operating zone to a radius of *** to *** km around the production unit, with the exception of high value-added gases such ...

4 Offer analysis

4.1 Product overview: the different types of industrial gas

According to EIGA, thefollowing more detailed classification of the scope of gases can be made: air gases - oxygen (***) ; rare gases - such as helium (***); hydrogen (***); chlorine (***); acetylene (***). In addition,according to Messer , industrial gases are divided into three categories: Industrial gases: used for welding, pressurization, combustion, degassing, protective atmospheres and ...

4.2 Production costs for industrial gases

In this section, we provide an overview and breakdown of the factors that determine the cost of industrial gas production.

Although air is free, industrial gas production entails a number of costs. Indeed, theindustry is extremely capital-intensive, which also explains why there are few players and the market is concentrated (***). For ...

4.3 Producer price index

The graph below illustrates the evolution of industrial gas production prices in France between **** and ****. The base value of the price index is **** (***). Following this logic, we see that prices fell by **.*% between **** and ****, then rose sharply between **** and ****, so that production prices in **** are almost double those in ****. Price index, ...

5 Rules and regulations

5.1 General regulations

The manufacture of industrial gases involves numerous health risks and is therefore closely regulated, from production to transport and storage. Regulations governing the production of industrial gases include the following: [***] Gas storageregulations; Acetylene storage regulations; Oxygen storage regulations; Regulations for the storage of hydrogen; Essential rules for the storage of gas ...

5.2 New regulations

Following the fire at Lubrizol and Normandie Logistique in September **** in Rouen, new regulations have been put in place to reinforce the safety of high-risk industrial sites. These changes came into force in January ****[***] :

For warehouses of combustible materials, flammable liquids, waste transit sorting facilities and Seveso facilities: obligationto keep an ...

6 Positioning the players

6.1 Segmentation

The French and global markets are dominated by the four companies listed below.

  • Air Liquide
  • Air Products,7
  • Messer
  • Clesse Industrie
  • Butagaz
  • Linde
  • Messer France
  • GCE (ESAB Groupe)
  • Praxair ( Linde Group)
  • Sol Group
  • Carburos Metálicos (Air Products)
  • Gaz Industrie
  • OxyNord
  • Charot
  • Polidoro
  • Antargaz

List of charts presented in this market study

  • Size of the global industrial gas market
  • Size of the French industrial gas market
  • Utilisation de l'hydrogène
  • Taille du marché mondial de l'hydrogène
  • French industrial gas market structure by revenue
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Latest news

Antargaz leaves Grigny and Ris-Orangis - 28/03/2024
  • Antargaz site size: 3.4 hectares Site: Seveso 2, high threshold
  • Scheduled completion of dismantling of Antargaz facilities: First quarter 2025
Siemens Energy and Air Liquide inaugurate their gigafactory to get green hydrogen off the ground - 09/11/2023
  • Siemens Energy and Air Liquide's electrolyser Gigafactory in Berlin.
  • It will produce cells with a total capacity of 1GW in the first year, gradually increasing to 3GW.
  • Investment of 30 million euros
  • it will power the hydrogen projects of Siemens Energy and Air Liquide, its only two customers.
  • In Germany, Air Liquide will commission a 20 MW plant in the Ruhr, currently the largest in Europe.
  • Another electrolyzer, ten times larger (200 MW), is planned: "Normand'Hy".
  • It will supply green hydrogen to manufacturers in the Seine Valley. TotalEnergies has already reserved half the capacity.
  • Air Liquide plans to have a portfolio of 3 GW by 2030.
  • Air Liquide currently produces 1.2 million tonnes of hydrogen a year worldwide, but the overwhelming majority is still of fossil origin.
  • "By 2030, grey hydrogen may account for only 50% of our business,
  • The group plans to triple its sales by 2035, to 6 billion euros, taking advantage of the growth in low-carbon hydrogen.
  • Germany sees hydrogen as one of the main vectors for decarbonization.
  • Hydrogen infrastructure plan in the coming weeks - a 10,000-kilometer network
Air Liquide greenens its hydrogen - 31/07/2023
  • Air Liquide's Port-Jérôme plant captures 100,000 tonnes of CO2 each year, more than 90% of the plant's emissions.
  • Air Liquide has received 200 million euros from the French government to launch a hydrogen industry in Normandy.
  • 95% of the natural gas consumed at Port-Jérôme is transformed into hydrogen.
  • The Normand'Hy project involves an investment of 250 million euros to build a 200-megawatt electrolyzer.
  • More than 680 "large-scale" hydrogen projects have been announced worldwide, representing a total investment of $240 billion.
Air Liquide: the springboard of the energy crisis - 16/02/2023
  • The Group reported annual sales of 29.93 billion euros, the highest in its history
  • Sales were driven by industrial merchant activities, in particular hydrogen and oxygen sales to the steel and chemical industries in Europe and the United States
  • three new industrial gas production units for two major semiconductor manufacturers in Taiwan
  • The Group has built its largest biomethane production unit in the United States
Energy: the propane industry calls for aid for its customers - 21/11/2022
  • The three market leaders are: Antargaz, Butagaz, Primagaz
  • 600.000 French households heated with LPG (liquefied petroleum gas)
  • LPG emits up to 50% lessCO2 than fuel oil, and up to 77% less for bio-propane
  • 20 million French people use propane and butane for cooking and heating.
  • More than 25,000 communes (out of 36,000) rely on this energy source because they are not connected to the natural gas network

Clesse Industries is now focusing on acquisitions with its new shareholder. - 13/11/2022
  • Manufacturer of gas control accessories - regulators, valves and other essential fittings
  • Purchased by Innovafonds
  • 200 employees 30 million euros in sales by 2021
  • Present across the entire gas chain
  • Three markets: gas suppliers, tank manufacturers and specialized gas installers
  • Production subsidiaries in Brazil, Italy and the UK
  • 70% of sales generated outside France

Companies quoted in this study

This study contains a complete overview of the companies in the market, with the latest figures and news for each company. :

Air Liquide
Air Products,7
Messer
Clesse Industrie
Butagaz
Linde
Messer France
GCE (ESAB Groupe)
Praxair ( Linde Group)
Sol Group
Carburos Metálicos (Air Products)
Gaz Industrie

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