GCC Industrial Gas Market - By Type (Nitrogen, Oxygen, Carbon Dioxide, Argon, Hydrogen, Helium, Krypton, Xenon) & Forecast, 2022-2030

GCC Industrial Gas Market Size

GCC Industrial Gas Market size exceeded USD 2.1 billion in 2021 and is anticipated to grow at over 6.5% CAGR between 2022 and 2030. The constant increase in processed food & beverage consumption will propel the overall market demand in the GCC countries.
 

Increasing consumption of various gases in packaging applications will propel the demand for gases such as nitrogen, carbon dioxide and oxygen. The post COVID-19 impact over the food packaging and processing industry have been observed to facilitate a boost which will further propel the consumption of industrial gases in the region. GCC region will witnesses a significant growth in food & beverage processing and shall also contribute to the augmenting market demand for industrial gases.
 

GCC Industrial Gas Market Analysis

Emerging consciousness for better healthcare practices and advanced technologies facilitates the increased market demand for industrial gases in the GCC region. The pandemic scenarios displayed the rise in hospitals and medical facilities in the different gulf countries which contributes to the inclining demand for survival gases like oxygen coupled with functional gases like carbon dioxide, argon, and helium in the healthcare sector of the region.
 

Rapid increase in the construction, fabrication, and mining operations contribute to the robust development of the metallurgical applications of industrial gases including oxygen, nitrogen, and hydrogen, among others. The varied benefits of efficient combustion fuel and heat treatment processes over metals are germinating a substantial demand for different functional gases in the region, majorly in countries like Saudi Arabia, Kuwait, Oman along with other member countries.
 

As per type segment, the potential applications of nitrogen gas in healthcare sector are expected to support its market demand in the region. In the GCC region, the nitrogen gas segment is projected to surpass USD 370 million in the forecast timeframe. The rising application of nitrogen gas in cooled storage of vaccines and medications is expected to positively influence its demand over forecast years. Potential applications in manufacturing coupled with the rising demand form food packaging and processing will boost the GCC industrial gas market demand. Owing to high cryogenic properties, nitrogen gas is extensively used to formulate processing and storage processes for food & beverages.
 

Apart from aforementioned factors the increased focus of gas manufacturers and suppliers to install onsite units for production of regularly consumed gases near the industrial consumers for ease in supply will also promote the consumption of products in the GCC region. The region witnesses substantial growth in the manufacturing sectors including electronics & telecom, illuminant products, and the food & beverage sectors which shall significantly contribute to market growth for industrial gases.
 

The application of nitrogen gas in the manufacturing and processing sector have achieved a significant potential which will accelerate the market demand. As per the market analysis, the application market for nitrogen gas captures a significant business share owing to the increased implementations in the food & beverage manufacturing, packaging and storage. Thus, increasing demand from industrial consumers for onsite supply for nitrogen gas has influenced the market statistics in the GCC region.
 

The application of nitrogen gas in the food & beverage manufacturing, packaging, and storage sector have achieved a significant potential which will accelerate market demand. Thus, increasing demand from industrial consumers for onsite supply for nitrogen gas has influenced the market expansion in the GCC region. Also, the favorable schemes & initiatives undertaken by governments along with manufacturers and suppliers of different member countries in the Middle East to encourage advanced supply technologies which should further raise the product demand. For instance, Key players including Linde and SABIC are focusing on their dealership expansion to increase overall net sales.
 

Saudi Arabia is accounted for share of more than 50% in the GCC industrial gas market in 2021 and is expected to register above 6% CAGR in the forecast period. Further, downward trend in oil & gas production in the region, along with increasing importance for development of medical infrastructure, has further propelled the demand for industrial gas applications in the region.
 

Positive application outlook of applied medical gas and individual benefits of various industrial gases like argon and specialty gases including krypton and xenon across processing industry will further support the GCC industrial gas industry demand. Nitrogen gas production in Saudi Arabia is anticipated to grow over 7% through 2030. This will further fuel the market growth across this region owing to application in chemical, pharmaceutical, food and metallurgy sectors.
 

GCC Industrial Gas Market Share

Key players in the GCC industrial gas market are

• Linde
• Gulf Cryo
• SABIC
• SIPCHEM
• Air Liquide
• Air Products
• Abdullah Hashim Industrial Gases
• Buzwair Industrial Gases
   

The companies are engaged in extensive research & development to develop innovative products to improve the quality & quantity of poultry meat yield. For instance, In January 2021, the Gulf Cryo company has announced to procure, install, and operate CO2 emissions capture plant located in Saudi Arabia. This procurement aids the company expects to double its existing CO2 production capacity in Saudi Arabia and capture more than 250,000 tons a year of CO2 emissions to produce high-purity, food-grade green CO2.
 

In April 2021, Aramco and SABIC announced their plans to realign marketing & sales, and commercial & supply chain activities to drive efficiency and enhance customer value. This initiative was aimed at aligning the strategies of SABIC and Aramco.
 

In December 2020, Linde announced that it has entered a joint venture with Sahara International Petrochemical Company (Sipchem), a Saudi International Petrochemical Company owned jointly by a private sector investor of Saudi Arabia and GCC countries. The joint venture intends to build up a world-class industrial gases network in Jubail Industrial City by connecting via pipeline the existing hydrogen and syngas plants owned and operated by the two parties.
 

The GCC industrial gas market research report includes in-depth coverage of the industry, with estimates & forecast in terms of volume in Kilotons and revenue in USD Million from 2017 to 2030, for the following segment:

By Type

• Nitrogen
• Oxygen
• Carbon Dioxide
• Argon
• Hydrogen
• Helium
• Krypton
• Xenon

By Application

• Manufacturing
• Metallurgy
• Energy
• Chemicals
• Healthcare
• Others

By Supply Mode

• Packaged
• Bulk
• On-Site

The above information has been provided for the following countries in the GCC:

• Saudi Arabia
• UAE
• Qatar
• Kuwait
• Oman
• Bahrain