Tumbling stock markets, a credit crunch, accelerating inflation, fears over recession and something of a gold rush – the global economy has perhaps not been so uncertain for some time. Less precarious, is the blossoming global gases industry.
The industrial gas community has been progressing at an incredible rate as the core markets demonstrate steady growth and emerging regions continue to push towards the forefront of the industry.
Demanding sectors such as the steel industry, chemicals and petrochemicals, glass, healthcare and manufacturing all represent sizeable drivers for gases growth. So much so, that the industry grew by an impressive 10% overall in 2006 and is estimated to have achieved a similarly robust 10% again in 2007 to reach a revenues value of approximately $58bn.
So far in 2008 gasworld has explored several of the key industries providing the drive for industrial gases, with the chemicals business perhaps showing one of the greatest degrees of demand. From an end-user profile perspective, the manufacturing industry has traditionally paved the way for gases exigency and in 2006 accounted for 29% of the global gases market, closely followed by the chemical sector at 20%.
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