The Asia-Pacific industrial gases market is the most propitious of all the regional markets and will continue to be the fastest growing segment of the market during the forecasted period.
The largest chunk of industrial gases by value belongs to the Asia-Pacific region mainly due to the presence of a large population base and huge demand from industries of the growing economies such as India, China, South Korea and Singapore.
The high market share of the industrial gases market in this region can be attributed mainly to the rapid industrialization in developing economies such as India, China and Japan which have a multitude of untapped opportunities.
The major chunk of demand for industrial gases can be observed in the booming fields of healthcare, manufacturing and electronics segments. This has resulted in the corresponding increase in demand for various gaseous mixtures (exotic ones include Neoquad – a mixture of helium, nitrogen, neon, oxygen, and Argox – a mixture of argon and oxygen), pure gases used in the healthcare industry, as well as various modern applications of traditional gases such as carbon dioxide, oxygen and nitrogen.
Some of the important growth drivers for the Asia-Pacific industrial gases market are as follows:
