LONDON--(BUSINESS WIRE)--The global industrial gases market size is expected to post a CAGR over 7% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
The industrial gases market is witnessing an increased demand for rapid surface chilling technology. This technology is used in the poultry industry to preserve meat and reduce the impact of campylobacter bacteria found on the surface of raw chicken. This bacterium is one of the most common causes of food poisoning in the UK. This technology involves the use of cryogenically cooled liquid nitrogen at a temperature of approximately -320.8 F. Therefore, the rising use of rapid surface chilling technology will fuel the industrial gases market growth during the forecast period.
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As per Technavio, the innovations in storage design and packaging will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Industrial Gases Market: Innovations in Storage Design and Packaging
Due to the explosive, high flammability, and hazardous nature of industrial gases, utmost care should be taken during handling, storing, and transport. Over the years, there have been a series of innovations in packaging, wherein metal is being replaced by composite materials made of plastic or aluminum. These cylinders offer immense benefits in terms of energy savings, without compromising on the safety. Such innovations in design and packaging will significantly benefit the industrial gases market during the forecast period.
“Apart from the innovations in storage design and packaging, other factors such as the flourishing pharmaceutical and healthcare sectors, and the use of industrial gases as an alternative source of energy will have a significant impact on the growth of the industrial gases market during the forecast period,” says a senior analyst at Technavio.
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Industrial Gases Market: Segmentation Analysis
This market research report segments the industrial gases market by type (hydrogen, oxygen, nitrogen, carbon dioxide, acetylene, helium, and others), by end-user (manufacturing, chemical processing, metal fabrication, energy, medical and healthcare, food and beverage, electronics, and others) and geographic region (North America, MEA, APAC, Europe, and South America).
The APAC region led the market in 2018, followed by North America, Europe, South America, and MEA respectively. The growth of the industrial gases market share in APAC can be attributed to several factors such as rising industrialization and increasing demand for industrial gases from end-user industries such as metals and metal fabrication, chemical and petrochemical, and food and beverages.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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