The industrial gas market of the South East region represented the largest in the US in 2017, with revenues peaking at $5.16bn. This was up from $3.51bn in 2007, indicating an average annual growth rate of 4.71% per annum (p.a.) for the decade.
The region’s economy is characterized by its extensive refining and chemicals industries, specifically along its south coast. As a result, the refining and energy sector is traditionally the largest revenue generating end-use sector in the South East, with sales amounting to $920 in 2017. Unsurprisingly, the chemicals sector was the second-largest end-user of gases, with around $236m associated with hydrogen sales to this key sector in 2017.
Continuing to look at the end-user landscape in the region, metallurgy end-users generated approximately $757m in sales to the gas market in the South East, with over 83% of these sales linked to atmospheric gases. Food and beverage end-users generated approximately $688m in sales to in the South East, mainly consuming carbon dioxide (CO2) for food freezing and packaging applications.
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