Mexico Industrial Gases Market Size To Grow At A CAGR Of 5.40% In The Forecast Period Of 2023-2028
The ‘Mexico Industrial Gases Market Size, Share, Growth, Analysis, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the Mexico industrial gases market, assessing the market on the basis of its segments like type, application, and supply mode.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Mexico Industrial Gases Market Share, Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2022): USD 2.18 billion
• Forecast CAGR (2023-2028): 5.40%
• Forecast Market Size (2028): USD 2.99 billion
The Mexico industrial gases market is expected to develop as a result of the expanding usage of these gases in a number of industries, such as healthcare, metals and mining, and food and beverage. Industrial gases are in constant demand due to their widespread use in the mining, metal, and aerospace bodrum escorts sectors.
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Industrial gases like nitrogen trifluoride (NF3), sulphur hexafluoride (SF6), and silane (SiH4) are used in the electronics sector to make advanced components like silicon wafers and integrated circuits, compound semiconductors, and flat panel displays. Due to their versatility and growing applications, industrial gases are also needed in the electronics industry for innovation and new product development.
Additionally, the demand for the Mexico industrial gases market has grown as a result of the rising global demand for crude oil and the requirement for refinement. In the oil and gas industry, industrial gases are frequently used for a variety of vital operations, including coiled tubing, drilling, leak testing, well raising, pipe inerting and cooling, subsea works, inspection, maintenance, spool base for pipe building, shipbuilding, and gas analysis, among others. The government in Mexico has taken a number of actions to boost industrial penetration in their various regions, including tax relief, flexible rules, affordable land, and resource availability, thereby supporting the Mexico industrial gases market growth.
Mexico Industrial Gases Industry Definition and Major Segments
Industrial gases are gaseous substances produced for industrial usage and can be any element, molecule, or even mixture of elements. Industrial gases are advantageous and useful for a variety of industries since they frequently have low molecular weights and distinctive chemical properties. Gases like nitrogen, oxygen, argon, carbon dioxide, acetylene, hydrogen, and helium are frequently employed in industrial settings.
Based on type, the market is segmented into:
• Nitrogen
• Oxygen
• Carbon Dioxide
• Argon
• Hydrogen
• Others
On the basis of application the market is divided into:
• Manufacturing
• Metallurgy
• Energy
• Chemicals
• Healthcare
• Others
Based on supply mode, the market is categorised into:
• Packaged
• Bulk
• On-Site
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Mexico Industrial Gases Market Trends
Demand for industrial gases in Mexico is anticipated to be driven by ongoing investments in significant infrastructure projects and increasing investments in core industrial sectors. Solar photovoltaic energy, in particular, is becoming a leading source of sustainable energy generation and drawing in investments on a global scale. These gases significantly lower manufacturing costs, which bodes well for an increase in their use over the forecast period, thus aiding the Mexico industrial gases market development.
Industrial gases are also used in the healthcare sector for a variety of cryogenic and surgical procedures, as well as respiratory applications. During the projection period, there is expected to be a significant demand for industrial gases due to the healthcare sector’s rapid growth. Industrial gases are thus expected to be used in healthcare applications at a rapid rate during the forecast period.
Bulk oxygen is frequently required in the medical field to enable artificial breathing and lower the danger of having low oxygen levels in the lungs or other bodily tissues during procedures. The use of oxygen has become increasingly popular in the management of a number of respiratory diseases, including COVID-19. In this way, the use of gases in medical technology has grown significantly during the past few years.
Key Market Players
The major players in the Mexico industrial gases market report are Air Liquide S.A, AOC MÉXICO, S.A. of C.V, Linde plc, and Grupo Infra, among others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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