Yahoo Finance Industrial Gases-Glass Industry Global Market Report 2022: Ukraine-Russia War Impact
Air Liquide SA, Air Water Inc, Gulf Cryo, HyGear, Messer Group GmbH, Praxair Inc. , SIG Gases Berhad, Taiyo Nippon Sanso Corporation, The Linde Group, Yingde Gases, Saint Gobain, CRYOTECH Anlagenbau GMBH, Matheson Tri-Gas, Welsco Inc, and Air Products and Chemicals Inc are major players in the industrial gases-glass industry market.
New York, Dec. 09, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Industrial Gases-Glass Industry Global Market Report 2022: Ukraine-Russia War Impact" - https://www.reportlinker.com/p06372064/?utm_source=GNW
The global industrial gases-glass industry market is expected to grow from $3.20 billion in 2021 to $3.46 billion in 2022 at a compound annual growth rate (CAGR) of 8.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting manyevery markets across the globe. The market is expected to grow to $4.63 billion in 2026 at a CAGR of 7.5%.
The industrial gases-glass industry market consists of sales of industrial gases-glass industry products by entities (organizations, sole traders, and partnerships) that are used in a variety of industrial manufacturing processes for producing glass cost-effectively.The industrial gases-glass industry refers to industrial gases that are produced and supplied in both gas and liquid form and are transported to customers in cylinders, as bulk liquid, or as pipeline gases.
Industrial gas plays a major role in enabling manufacturers to make real savings, enhance production processes, meet increasingly strict emissions regulations and improve glass quality.
The main types of industrial gases used in the glass industry are hydrogen, oxygen, nitrogen, argon, and acetylene.Hydrogen refers to a non-metallic gaseous chemical element.
The main functions are forming and melting, atmospheric control, and finishing or polishing.The major transportation modes are cylinder and packaged gas distribution, merchant liquid distribution, and tonnage distribution.
The various applications include container glass, float glass, fiberglass, and specialty glass.
North America was the largest region in the industrial gases-glass industry market in 2021.Asia Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in this industrial gases-glass industry market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The increasing applications of glass in the construction sector are expected to propel the growth of the industrial gases-glass industry market going forward.The construction sector refers to the industrial branch of manufacturing and trade related to building, repairing, renovating, and maintaining infrastructures.
Glass is now being used in the construction sector as an insulation material, structural component, external glazing material, and cladding material.The transmission of up to 80% of natural light, sound insulation, and thermal insulation are the key benefits of utilising glass in construction.
For instance, according to the International Commission on Glass, a non-profit international society of national scientific and technical organizations, in 2019, China’s total glass fibre output was 5.27 million tons, up 13% year on year, with a product yield of 4.5 million tons, a year-on-year increase of 3.5%. Therefore, the increasing applications of glass in the construction sector are driving the growth of the industrial gases-glass industry market.
Technological advancement is a key trend gaining popularity in the industrial gases-glass industry market.Major market players are concentrating their efforts on creating advanced technologies in the industrial gas-glass industry market.
For instance, in May 2019, Air Products & Inc., a US-based manufacturer of industrial gases, unveiled a new oxy-fuel combustion technology, the Cleanfire HRx burner, for glass manufacturing. This technology enables control of the location and magnitude of oxygen up to 95% of the combustion oxygen with unique features that include foam reduction capability, enhanced productivity, optional instrumentation for remote performance monitoring, and ultra-low NOx emissions.
In August 2021, AW India, an India-based company, acquired Linde India’s business of manufacture, sale, and distribution of oxygen, nitrogen, and argon operated in South India (South Region Divestment Business) for an undisclosed amount.AW India is expected to expand its overseas business in India with this acquisition.
Linde India Business is a member of the Linde Group, an Ireland-based company engaged in the manufacturing of industrial and medical gases for various industries, including glass.
The countries covered in the industrial gases-glass industry market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The industrial gases-glass industry market research report is one of a series of new reports that provides industrial gases-glass industry market statistics, including global market size, regional shares, competitors with an industrial gases-glass industry market share, detailed industrial gases-glass industry market segments, market trends and opportunities, and any further data you may need to thrive in the industrial gases-glass industry. This industrial gases-glass industry market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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