Saudi Arabia Industrial Gases Market
Saudi Arabia Industrial Gases Market - By Gas Type (Oxygen, Nitrogen, Carbon Dioxide, Acetylene, Argon); By Application (Healthcare, Manufacturing, Food & Beverages, Metallurgy & Glasses, Chemicals and Energy); By Distribution & Transportation (On-Site, Liquid Gas Transport (Bulk Transport), Cylinder (Merchant)); By Region (North & Central Region, Eastern Region, Western Region, Southern Region), Trend Analysis, Competitive Landscape & Forecast, 2019–2029
- Published Date: February 2023
- Report ID: BWC23130
- Available Format: PDF
- Page: 200
Report Overview
Increasing investments in mega projects, growing demand from oil and gas midstream sector and rising urbanization & industrialization, and growing application of gases are projected to propel the expansion of Saudi Arabia industrial gases market during the forecast period between 2023 and 2029.
Saudi Arabia Industrial Gases Market - Industry Trends & Forecast Report, 2029
Saudi Arabia industrial gases market size was estimated at USD 2,154.013 million in 2022. During the forecast period between 2023 and 2029, the size of Saudi Arabia industrial gases market is projected to grow at CAGR of 5.53% reaching a value of USD 3,125.003 million by 2029. Major growth drivers for Saudi Arabia industrial gases market include rising investment in mega projects in the Saudi Arabia kingdom. The medical and food processing industries are driving the expansion of the Saudi industrial gases market. According to the chemical company Air Products, industrial gases can be applied to food production processes to increase productivity and aid in the creation of healthy, natural, and organic food products, and they use liquid nitrogen and carbon dioxide in the freezing and chilling of any food product. These gases also assist in the grinding of spices, nutraceuticals, and other compounds. Liquid nitrogen is primarily effective in lowering frictional heat during the grinding process, hence enhancing output and uniformity. It also prevents flavor and fragrance loss during food processing. Also, increased industrialization and urbanization, as well as rising consumer demand from the processing and manufacturing industries, is projected to generate profitable growth prospects for the industry during the period in analysis.
Saudi Arabia Industrial Gases Market – Overview
Elements, molecular compounds, or combinations make up industrial gases. Oxygen, nitrogen, carbon dioxide, hydrogen, and noble gases such as argon, neon, and helium are the most prevalent industrial gases. Oil and gas, chemicals, petrochemicals, metals, fertilizers, nuclear power, electronics, and aerospace are all businesses that employ industrial gases. Air separation facilities, for example, refine air in a separation process, allowing for the bulk production of numerous gases. The Saudi government is investing in megaprojects around the nation. The submittal of industrial gases is fairly common in the construction industry. Saudi Arabia's industrial gas condition will improve in support of not just the energy sector, but also the expanding non-energy industries such as industrial, gas, and chemical. Megaprojects such as the Al Jubail Petrochemical Complex are propelling Saudi Arabia's industrial gases market forward.
Saudi Arabia Industrial Gases Market
Growth Drivers
Growing demand from oil and gas midstream sector
Industrial gases are employed in all three stages of oil refining: separation, conversion, and treatment. High-quality gases improve the quality of the end products refined in an oil refinery as well as the process itself. Nitrogen is used in refineries to blanket tanks, block the discharge of hydrocarbon emissions, and prevent the admission of oxygen into vacuum units. Nitrogen is also utilized to quiet chemical processes and safely shut down or restart the refinery's various units. With the most recent technological advances in the oil and gas upstream industry, world leaders are almost ready to explore previously untapped reserves that they were unable to exploit due to a lack of technology or fluctuating crude prices, implying that the refining industry will also grow with this notion, driving the market growth of industrial gases as well.
Restraints
Stringent laws
Rigorous laws and regulations governing the manufacturing, storage, and transportation of gases are anticipated to stymie market growth throughout the forecast period. Also, industrial gas prices increased in Q4 2021 and Q1 2021 as a result of protracted environmental inspections and the subsequent closure of production facilities, as well as sharp increases in transit costs following the recovery of the markets following COVID-19. Some businesses have voluntarily cut back on production to avoid paying penalties for not meeting pollution standards. As a result, during the projection period, the market's expansion is projected to be significantly hampered by the growing price of industrial gases.
Saudi Arabia Industrial Gases Market
Segmental Coverage
Saudi Arabia Industrial Gases Market – By Gas Type
By gas type, Saudi Arabia industrial gases market is segmented Oxygen, Nitrogen, Carbon Dioxide, Acetylene, and Argon. The nitrogen segment dominated the market in 2021. The growing use of nitrogen gas in the cooling of pharmaceuticals and vaccines is expected to have a positive impact on demand during the forecast years. The GCC industrial gas market will see increased demand as a result of possible applications in manufacturing and the growing demand for food processing and packaging. Due to its excellent cryogenic properties, nitrogen gas is frequently used to develop processing and storage processes for food and beverages. In addition to the factors mentioned above, the growing focus of gas providers and manufacturers on establishing onsite units for manufacturing commonly used gases close to industrial clients for ease of delivery will boost product consumption in the Saudi Arabia region.
Saudi Arabia Industrial Gases Market – By Application
Based on application, Saudi Arabia industrial gases market is divided into Healthcare, Manufacturing, Food & Beverages, Metallurgy & Glasses, and Chemicals and Energy. The manufacturing application sector held the highest market share and is expected to expand significantly throughout the forecast period. Because of the rising manufacturing industries in developing countries demand industrial gases such as nitrogen, oxygen, carbon dioxide, and hydrogen is expected to grow significantly in developing economies. The growing need for advanced industrial gases in the electronic industry is likely to drive this segment's growth even further. Over the projected period, the healthcare application segment is expected to develop the fastest. Furthermore, the current COVID-19 pandemic has increased demand for medical-grade industrial gases, particularly oxygen. The market has a high development potential due to a rise in global healthcare spending.
Saudi Arabia Industrial Gases Market – By Distribution & Transportation
Based on distribution and transportation, Saudi Arabia industrial gases market is divided into On-Site, Liquid Gas Transport (Bulk Transport), and Cylinder (Merchant). The on-site segment dominated the market in 2021. Nitrogen gas has shown significant potential in the processing and manufacturing industries, enhancing customer demand. The expanding implementations in food and beverage production, packaging, and storage have given the nitrogen gas application market a large business share. As a result, increased industrial consumer demand for onsite nitrogen gas supply has had an impact on Saudi Arabia region.
Saudi Arabia Industrial Gases Market – By Region
Regionally, Saudi Arabia industrial gases market is segmented into North & Central Region, Eastern Region, Western Region, and Southern Region.
Competitive Landscape
Major players operating in Saudi Arabia Industrial Gases Market 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, and Barrak Industrial Gases Factory. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
Recent Development
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In January 2021- The Gulf Cryocompany in Saudi Arabia announced its plans to purchase, construct, and operate a CO2 emissions capture system. To produce high-purity, food-grade green CO2, the company plans to triple its present CO2 production capacity in Saudi Arabia and capture over 250,000 tons of CO2 emissions each year.
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In April 2021- Aramco and SABIC announced intentions to reorganize marketing and sales, as well as commercial and supply chain functions, to optimize efficiency and improve customer value. The purpose of this project was to align SABIC with Aramco's strategies.
Scope of the Report
Attributes |
Details |
Years Considered |
Historical Data – 2019–2022 |
Base Year – 2022 |
|
Estimated Year – 2023 |
|
Forecast Period – 2023–2029 |
|
Facts Covered |
Revenue in USD Million |
Market Coverage |
Saudi Arabia |
Product/ Service Segmentation |
Gas Type, Application, Distribution & Transportation, Region |
Key Players |
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 |
By Gas Type
-
Oxygen
-
Nitrogen
-
Carbon Dioxide
-
Acetylene
-
Argon
By Application
-
Healthcare
-
Manufacturing
-
Food & Beverages
-
Metallurgy & Glasses
-
Chemicals and Energy
By Distribution & Transportation
-
On-Site
-
Liquid Gas Transport (Bulk Transport)
-
Cylinder (Merchant)
By Region
-
North & Central Region
-
Eastern Region
-
Western Region
-
Southern Region
- Research Framework
- Research Objective
- Product Overview
- Market Segmentation
- Executive Summary
- Saudi Arabia Industrial Gases Market Insights
- Industry Value Chain Analysis
- DROC Analysis
- Growth Drivers
- Rise in Investments in Mega Projects
- Growing Demand from Oil and Gas Midstream Sector
- Rising urbanization & industrialization and Growing Application of Gases
- Restraints
- Stringent Laws & regulations for Manufacturing & Distribution of gases
- Opportunities
- Growing Uses of Industrial Gas in the Medical and Food Processing Sectors
- Manufacturers of Industrial Gas Using IoT Technology
- Challenges
- Falling demand for gas as a result of national lockdowns
- Growth Drivers
- Technology Advancements/Recent Developments
- Regulatory Framework
- Porter’s Five Forces Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of New Entrants
- Threat of Substitutes
- Intensity of Rivalry
- Saudi Arabia Industrial Gases Market Overview
- Market Size & Forecast by Value, 2019–2029
- By Value (USD Million)
- Market Share & Forecast
- By Gas Type
- Oxygen
- Nitrogen
- Carbon Dioxide
- Acetylene
- Argon
- Others
- By Application
- Healthcare
- Manufacturing
- Food & Beverages
- Metallurgy & Glasses
- Chemicals and Energy
- Others
- By Distribution & Transportation
- On-Site
- Liquid Gas Transport (Bulk Transport)
- Cylinder (Merchant)
- By Region
- North & Central Region
- Eastern Region
- Western Region
- Southern Region
- By Gas Type
- Market Size & Forecast by Value, 2019–2029
- North & Central Region Industrial Gases Market Overview
- Market Size & Forecast by Value, 2019–2029
- By Value (USD Million)
- Market Share & Forecast
- By Gas Type
- By Application
- By Distribution Channel
- Market Size & Forecast by Value, 2019–2029
- Eastern Region Industrial Gases Market Overview
- Market Size & Forecast by Value, 2019–2029
- By Value (USD Million)
- Market Share & Forecast
- By Gas Type
- By Application
- By Distribution Channel
- Market Size & Forecast by Value, 2019–2029
- Western Region Industrial Gases Market Overview
- Market Size & Forecast by Value, 2019–2029
- By Value (USD Million)
- Market Share & Forecast
- By Gas Type
- By Application
- By Distribution Channel
- Market Size & Forecast by Value, 2019–2029
- Southern Region Industrial Gases Market Overview
- Market Size & Forecast by Value, 2019–2029
- By Value (USD Million)
- Market Share & Forecast
- By Gas Type
- By Application
- By Distribution Channel
- Market Size & Forecast by Value, 2019–2029
- Competitive Landscape
- List of Key Players and Their Offerings
- Saudi Arabia Industrial Gases Company Market Share Analysis, 2022
- Competitive Benchmarking, By Operating Parameters
- Key Strategic Development (Mergers, Acquisitions, Partnerships, etc.)
- Impact of Covid-19 on Saudi Arabia Industrial Gases Market
- Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook and SWOT Analysis)
- 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
- Other prominent players
- Key Strategic Recommendations
- Research Methodology
- Qualitative Research
- Primary & Secondary Research
- Quantitative Research
- Market Breakdown & Data Triangulation
- Secondary Research
- Primary Research
- Breakdown of Primary Research Respondents, By Region
- Assumptions & Limitations
- Qualitative Research
*Financial information in case of non-listed companies will be provided as per availability
**The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable
List of Figures
Figure 1 Saudi Arabia Industrial Gases Market Segmentation
Figure 2 Saudi Arabia Industrial Gases Market Value Chain Analysis
Figure 3 Company Market Share Analysis, 2022
Figure 4 Saudi Arabia Industrial Gases Market Size, By Value (USD Billion), 2019−2029
Figure 5 Saudi Arabia Industrial Gases Market Share, By Gas Type, By Value, 2019−2029
Figure 6 Saudi Arabia Industrial Gases Market Share, By Application, By Value, 2019−2029
Figure 7 Saudi Arabia Industrial Gases Market Share, By Distribution Channel, By Value, 2019−2029
Figure 8 Saudi Arabia Industrial Gases Market Share, By Region, By Value, 2019−2029
Figure 9 North & Central Region Industrial Gases Market Size, By Value (USD Billion), 2019−2029
Figure 10 North & Central Region Industrial Gases Market Share, By Gas Type, By Value, 2019−2029
Figure 11 North & Central Region Industrial Gases Market Share, By Application, By Value, 2019−2029
Figure 12 North & Central Region Industrial Gases Market Share, By Distribution Channel, By Value, 2019−2029
Figure 13 Eastern Region Industrial Gases Market Size, By Value (USD Billion), 2019−2029
Figure 14 Eastern Region Industrial Gases Market Share, By Gas Type, By Value, 2019−2029
Figure 15 Eastern Region Industrial Gases Market Share, By Application, By Value, 2019−2029
Figure 16 Eastern Region Industrial Gases Market Share, By Distribution Channel, By Value, 2019−2029
Figure 17 Western Region Industrial Gases Market Size, By Value (USD Billion), 2019−2029
Figure 18 Western Region Industrial Gases Market Share, By Gas Type, By Value, 2019−2029
Figure 19 Western Region Industrial Gases Market Share, By Application, By Value, 2019−2029
Figure 20 Western Region Industrial Gases Market Share, By Distribution Channel, By Value, 2019−2029
Figure 21 Southern Region Industrial Gases Market Size, By Value (USD Billion), 2019−2029
Figure 22 Southern Region Industrial Gases Market Share, By Gas Type, By Value, 2019−2029
Figure 23 Southern Region Industrial Gases Market Share, By Application, By Value, 2019−2029
Figure 24 Southern Region Industrial Gases Market Share, By Distribution Channel, By Value, 2019−2029
List of Tables
Table 1 Saudi Arabia Industrial Gases Market Size, By Gas Type, By Value, 2019−2029
Table 2 Saudi Arabia Industrial Gases Market Size, By Application, By Value, 2019−2029
Table 3 Saudi Arabia Industrial Gases Market Size, By Distribution Channel, By Value, 2019−2029
Table 4 Saudi Arabia Industrial Gases Market Size, By Region, By Value, 2019−2029
Table 5 North & Central Region Industrial Gases Market Size, By Gas Type, By Value, 2019−2029
Table 6 North & Central Region Industrial Gases Market Size, By Application, By Value, 2019−2029
Table 7 North & Central Region Industrial Gases Market Size, By Distribution Channel, By Value, 2019−2029
Table 8 Eastern Region Industrial Gases Market Size, By Gas Type, By Value, 2019−2029
Table 9 Eastern Region Industrial Gases Market Size, By Application, By Value, 2019−2029
Table 10 Eastern Region Industrial Gases Market Size, By Distribution Channel, By Value, 2019−2029
Table 11 Western Region Industrial Gases Market Size, By Gas Type, By Value, 2019−2029
Table 12 Western Region Industrial Gases Market Size, By Application, By Value, 2019−2029
Table 13 Western Region Industrial Gases Market Size, By Distribution Channel, By Value, 2019−2029
Table 14 Southern Region Industrial Gases Market Size, By Gas Type, By Value, 2019−2029
Table 15 Southern Region Industrial Gases Market Size, By Application, By Value, 2019−2029
Table 16 Southern Region Industrial Gases Market Size, By Distribution Channel, By Value, 2019−2029
Table 17 Linde SIGAS Company Overview
Table 18 Linde SIGAS Financial Overview
Table 19 Air Products & Chemicals Inc Company Overview
Table 20 Air Products & Chemicals Inc Financial Overview
Table 21 Air Liquide S.A. Company Overview
Table 22 Air Liquide S.A. Financial Overview
Table 23 Gulf Cryo Saudi Company Overview
Table 24 Gulf Cryo Saudi Financial Overview
Table 25 Saudi Basic Industries Corporation Company Overview
Table 26 Saudi Basic Industries Corporation Financial Overview
Table 27 Aldakheel Industrial Gases Plant (DIGAS) Company Overview
Table 28 Aldakheel Industrial Gases Plant (DIGAS) Financial Overview
Table 29 Jubail Gas Plant Co., Ltd Company Overview
Table 30 Jubail Gas Plant Co., Ltd Financial Overview
Table 31 ACWA Holding Company Overview
Table 32 ACWA Holding Financial Overview
Table 33 Taiyo Nippon Sanso Corporation Company Overview
Table 34 Taiyo Nippon Sanso Corporation Financial Overview
Table 35 Barrak Industrial Gases Factory Company Overview
Table 36 Barrak Industrial Gases Factory Financial Overview
Market Segmentation
By Gas Type
-
Oxygen
-
Nitrogen
-
Carbon Dioxide
-
Acetylene
-
Argon
By Application
-
Healthcare
-
Manufacturing
-
Food & Beverages
-
Metallurgy & Glasses
-
Chemicals and Energy
By Distribution & Transportation
-
On-Site
-
Liquid Gas Transport (Bulk Transport)
-
Cylinder (Merchant)
By Region
-
North & Central Region
-
Eastern Region
-
Western Region
-
Southern Region
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