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regional-markets-focus-on-us
regional-markets-focus-on-us

Regional markets: Focus on US

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A number of market dynamics imply that the US industrial gases business is going through a period of transformation. Two particular factors are driving change, notably a big shift in the carbon dioxide (CO2) market in the region and ongoing developments in the oil and gas industry.

Both of which will likely accelerate growth in what is already far and away the largest regional industrial gases market (US$16.5bn in 2012), still comfortably ahead of both Japan (2012: $7.6bn) and China (2012: $6.4bn), respectively.

US industrial gas revenues are largely derived from the manufacturing (27%), refining (16%) and chemicals (15%) sector; not only is this broadly in line with the wider North American gases market as a whole, it also means that increasing energy exploration and development in the country will drive further growth in the industry.

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