Energy, Automobile, EV, Renewable News | $2+ Billion Saudi Arabia Industrial Gases Industry Report to 2028 – Rising Investments in Mega Projects are Driving Market Growth

$2+ Billion Saudi Arabia Industrial Gases Industry Report to 2028 – Rising Investments in Mega Projects are Driving Market Growth – ResearchAndMarkets.com

November 22, 2022

DUBLIN–(BUSINESS WIRE)–The “Saudi Arabia Industrial Gases Market, By Product Type (Oxygen, Nitrogen, Carbon Dioxide, Hydrogen, Argon, Helium), By Mode of Distribution (Tonnage/Gaseous, Bulk & Cylinder, Packaged), By Region, Competition Forecast and Opportunities, 2028” report has been added to ResearchAndMarkets.com’s offering.

The Saudi Arabia Industrial Gases market was valued at USD2,054.18 million in 2021 and is anticipated to project robust growth in the forecast period with a CAGR of 5.40%, owing to a rapidly increasing investment in the mega projects in the kingdom of Saudi Arabia.

Companies Mentioned

Linde SIGAS
Air Products & Chemicals Inc
Air Liquide S.A.
Gulf Cryo Saudi
Saudi Basic Industries Corporation
Aldakheel Industrial Gases Plant (DIGAS
Jubail Gas Plant Co., Ltd
ACWA Holding
Taiyo Nippon Sanso Corporation
Barrak Industrial Gases Factory

Industrial gases are comprised of elements, molecular compounds, or mixtures. The most common industrial gases are oxygen, nitrogen, carbon dioxide, hydrogen, and noble gases such as argon, neon, helium, etc. Industrial gases are used for a wide spectrum of industries, which include oil and gas, chemicals, petrochemicals, metals, fertilizers, nuclear power, electronics, and aerospace. Technology like air separation plants refines air in a separation process, allowing the bulk manufacturing of many gases.

Rise in Investments in Mega Projects Driving Market Growth

The Government of Saudi Arabia is investing in the megaprojects across the kingdom. The submission of industrial gases is very much widespread in the construction business. Saudi Arabia’s industrial gas situation will continue to grow in support, not only of the energy sector, but also in the emerging non-energy sector including the industrial, gas and chemical sectors. Mega Projects like Al Jubail Petrochemical Complex are driving the industrial gases market’s overall growth in Saudi Arabia.

Growing Demand from Oil and Gas Midstream Sector is helping in Driving Saudi Arabia Industrial Gases Market

Industrial gases play a vital role in the oil refining business in all three stages of separation, conversion, and treating. High-quality gases improve the quality of end products being refined in an oil refinery and the quality of the process being conducted. In refineries, Nitrogen is used for blanketing tanks, preventing the release of hydrocarbon emission, and for preventing the ingress of oxygen into vacuum units.

Nitrogen is also used to calm chemical reactions and safely shut down or start up the various units that constitute the refinery. With the latest technological advancements in the oil and gas upstream industry, world leaders are almost ready to exploit the untapped reserves which they were not ready to exploit before because of lack of technology or fluctuating crude prices, which suggests the refining industry will also grow with this notion; hence it will drive the market growth of industrial gases as well.

Increasing Applications of Industrial Gas in Medical & Food Processing Industries Medical and food processing industries are driving the growth of industrial gases market in Saudi Arabia. For instance, according to chemical company Air Products, industrial gases can be applied to food production processes to boost productivity and help to create healthy, natural, and organic food products and they use liquid nitrogen and carbon dioxide in the freezing and chilling application of any food product. These gases also help grind spices, nutraceuticals, and other ingredients. Liquid nitrogen can be principally useful in reducing frictional heat throughout the grinding process, increasing output and consistency. It also avoids loss of flavors and aroma in food processing.

Industrial Gas Manufacturers Adopting IoT Technology

Many industrial gases manufacturers are adopting IoT (Internet of Things) technologies to connect equipment and smart devices to obtain real-time insights and identify inefficiencies in the manufacturing process. The data obtained through these devices is processed, analyzed, and interpreted by plant managers and senior-level management to improve quality and achieve optimum production levels. For example, smart systems give information on chemical reactors’ working conditions and performance with embedded software and analytics tools to notify plant operators and managers of possible machine breakdowns. Major industrial gas manufacturers adopting IoT technology include Praxair-Linde and Air Products.

Report Scope:

In this report, Saudi Arabia Industrial Gases Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

Saudi Arabia Industrial Gases Market, By Product Type: