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GCC Industrial Gas Market Share

Report ID: GMI5288
Published Date: Jul 2022
Report Format: PDF

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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.

Authors: Kunal Ahuja, Tushar Malkani

Frequently Asked Questions (FAQ) :

The GCC industrial gas market share was worth USD 2.1 billion in 2021 and is pegged to record a 6.5% CAGR between 2022 and 2030 owing to the rapidly rising processed food & beverage consumption worldwide.

The nitrogen gas segment in the GCC industrial gas industry is expected to exceed USD 370 million through 2030 due to potential applications in the healthcare sector.

Saudi Arabia led the GCC industrial gas market accounting for over 50% of the revenue share and is anticipated to strike a growth rate of more than 6% CAGR through 2030 due to the growing importance of development of medical infrastructure.

Linde, Gulf Cryo, SABIC, SIPCHEM, Air Products, Air Liquide, Abdullah Hashim Industrial Gases and Buzwair Industrial Gases are some key industrial gas market participants in the region.