In 2016, the North Pacific Rim industrial gas business was valued at just under $18bn, and for the first time in history, eclipsed the size of the European market to become the second-largest regional gas business in the world.
This is principally due to the ongoing expansion of the Chinese market and relative strength of the Japanese Yen over the past 12 months. The region’s economy (in current dollars) has grown at a staggering rate of 7.5% per annum (p.a.) over the past decade, but has been slowing for the last few years, and posted an increase of just 3.3% in 2016.
The gases business
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