The demand for industrial gases in the GCC region is directly associated with their rising applications in various end-use industries such as metals & metallurgy, healthcare, automotive, and welding & metal fabrication, among others. Growth in applications of industrial gases from respiratory to technical ones in the healthcare industry is also expected to have a highly positive impact on the market growth.
In addition, increasing demand from the food and beverage industry and rising applications of industrial gases in environment protection solutions are estimated to create significant demand for industrial gases during the period 2019-2029.
Furthermore, developed countries, such as KSA, are projected to witness a substantial growth rate, followed by UAE and Qatar, owing to the rapid economic development taking place in these countries. These countries are expected to hold significant shares in the GCC industrial gases market over the forecast period. Moreover, KSA is expected to gain high potential market share compared to other prominent countries in the GCC region.
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Burgeoning Demand from the Chemical Industry in the Region
Industrial gases find significant and multipurpose applications in the chemical industry. These are utilized on a large scale for various synthesis processes, creating modified atmosphere during reactions, transportation and logistics of chemical and allied products, as feed stock, and also for cryogenic applications in the chemical industry.
The GCC region has emerged as a major hub in the global chemical industry and is anticipated to grow further in the near future, which in turn, is expected to create significant opportunities for the regional industrial gases market players over the forecast period.
Rising Demand for Highly Technical and Healthcare Applications
High average costs of medical treatments in the GCC region have influenced regional governments to take measures to reduce overall operating costs of average medical treatments. Due to this, the healthcare industry in GCC is going through vast infrastructural changes. Industrial gases are used for respiratory, cryogenic, and technical applications in the healthcare industry. Rapid growth of the healthcare industry in the region, thus, is anticipated to create high demand for industrial gases over the forecast period.
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Increasing Applications of Industrial Gases for Environment Protection
Industrial gases are being widely used in various environment protection applications. Oxygen is used for biological treatment of wastewater, whereas carbon dioxide (dry ice pallets) is used for paint removal from surfaces. Governments are pushing the use of industrial gases due to their ecological friendliness in the GCC region, and the trend is expected to continue over the forecast period.
Safe and Effective Transportation of Gases Remains Key Challenge
Electricity, natural gas, and diesel fuel serve as major energy sources for production and distribution of industrial gases. The efficiency and cost of energy remains a major problem for most industry players.
Moreover, transportation costs mainly depend on gas pipelines, which distribute large volumes of industrial gases to customers. Distribution costs for cylinder gases are even higher. Besides, both high pressure cylinders and liquid tanks have safety issues and require skilled manpower for proper handling. Therefore, maintaining and optimizing the use of gas pipelines, tanks, and cylinders for transportation of industrial gases is anticipated to be one of the biggest challenges in the GCC industrial gases market.
KSA Industrial Gases Market to Witness Robust Growth
The KSA market is projected to emerge as the most attractive market, in terms of market share and CAGR index, throughout the forecast period. Increasing infrastructural activities, coupled with rising demand from the chemical industry are estimated to drive the demand for industrial gases in KSA.
Robust demand for industrial gases from countries such as the UAE, Qatar, and Kuwait is estimated to contribute towards the market growth throughout the forecast period.
The KSA industrial gases market is expected to hold a considerable market share, followed by UAE and Qatar in terms of both value and volume.
Increasing Influence of Regional Players Driving Market Growth
The GCC industrial gases market is highly consolidated with large players holding ~45-55% share in the overall regional market, with presence through local distributors and suppliers. Key strategies consist of providing products at lower prices by decreasing overall operational/transportation costs, which is anticipated to provide a highly competitive edge to market players.
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- Air Liquide
- Air Products and Chemicals Inc.
- Linde Plc
- Praxair Inc.
- Abdullah Hashim Industrial & Equipment Co. Ltd
- Bristol Gases
- Buzwair Industrial Gases factory
- Dubai Industrial Gases
- Gulf Cryo
- Mohsin Haider Darwish LLC
- National Industrial Gas Plants
- Yateem Oxygen