The global industrial gases market size was valued at USD 118.9 billion in 2024 and is projected to reach from USD 125.7 billion in 2025 to USD 222.7 billion by 2033, growing at a CAGR of 6.7% during the forecast period (2025-2033).

Market Scope and Research Methodology

This report delivers a comprehensive, multi-tier evaluation of the market at global, regional, and country levels. It analyzes market reach, regional leadership, and competitive strategies of key players, supported by a SWOT assessment. The study follows Straits Research’s rigorous methodology, integrating primary and secondary research with validated forecasting techniques to ensure accurate and reliable market insights.

The core objective of the Industrial Gases Market Report is to present actionable insights into market dynamics, evolving trends, and the critical factors influencing overall performance. The study analyzes industry structure, segmentation patterns, and projected market valuation, while also exploring growth catalysts, structural challenges, and opportunities driven by technological innovation, regulatory developments, cost optimization, and shifting consumer demand.

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Regional Insights

The report offers a detailed regional analysis of the Industrial Gases Market across North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. Each region is evaluated based on parameters such as market valuation, growth momentum, trade flow, and overall industry maturity. This geographic segmentation enables a clearer understanding of regional competitiveness and untapped growth potential.

Market Segmentation

1. By Product
   1. Nitrogen
   2. Hydrogen
   3. Carbon Dioxide
   4. Oxygen
   5. Argon
   6. Acetylene
2. By Applications
   1. Manufacturing
   2. Metallurgy & Glass
   3. Food & Beverages
   4. Retail
   5. Chemicals & Energy
   6. Others

Key Market Players

1. Air Liquide
2. Linde plc
3. Air Products Inc.
4. TAIYO NIPPON SANSO CORPORATION
5. Messer
6. SOL Group
7. Iwatani Corporation
8. Matheson Tri-Gas, Inc.
9. INOX-Air Products Inc.
10. Strandmøllen A / S
11. BASF SE
12. Universal Industrial Gases
13. QB Johnson Manufacturing, Inc.
14. Alchemie Gases & Chemicals Pvt. Ltd.
15. Gulf Cryo
16. Ramdon
17. Steelman Gases Pvt. Ltd. 
18. Axcel Gases

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Key Questions Addressed

• What is the Industrial Gases Market market?
• What was the market valuation of the Industrial Gases Market in 2024?
• What compound annual growth rate (CAGR) is projected during the forecast period?
• Which drivers are expected to accelerate market expansion?
• How is the market segmented?
• What competitive strategies are being adopted by key players?
• Which emerging trends and applications are influencing industry evolution?
• Who are the major participants operating in the Industrial Gases Market market?
• What are the core capabilities and product portfolios of leading companies?

About Us

With over ten years of industry experience, Straits Research has supported more than 2,000 organizations—ranging from startups to global enterprises—by equipping executives and decision-makers with reliable, data-driven insights. Our annually published syndicated research covers high-impact industries including chemicals and materials, food and beverages, healthcare and pharmaceuticals, automotive, technology, aerospace, and defense. Alongside these reports, our customized research solutions are designed to address unique business challenges and enable strategic growth.