The gas mixtures market size is estimated to grow from USD 28.20 Billion in 2015 to USD 36.76 Billion by 2020, at a CAGR of 5.44%. Factors such as increasing demand for electronic products and growing demand from the healthcare sector drive the gas mixtures market. However, high equipment costs and intricate manufacturing processes act as a restraint for the market. Growth of the chemical industry in the developing and under-developed regions provides an opportunity to the gas mixtures market to grow even further.
The metal manufacturing & fabrication segment is projected to be the fastest-growing end-use industry in the next five years. Furthermore, due to the growth of the metal fabrication industry, gas mixtures such as oxygen mixtures, carbon dioxide mixtures, and hydrogen mixtures are extensively used to enhance the arc characteristics or facilitate metal transfer in gas metal arc welding. The gas mixtures market is also projected to witness growth in the medical & healthcare, food & beverage, and chemicals sectors, during the forecast period.
The major vendors in the gas mixtures market include Linde Ag (Germany), Praxair Inc. (U.S.), Air Liquide S.A. (France), Airgas Inc.(U.S.) , Taiyo Nippon Sanso Corporation (Japan), Air Products and Chemicals Inc. (U.S.), and Iwatani Corporation (Japan).
