Dublin, Dec. 12, 2024 (GLOBE NEWSWIRE) -- The "Australia Industrial Gases Market, By Region, Competition, Forecast and Opportunities, 2019-2029F" report has been added to ResearchAndMarkets.com's offering.
The Australia Industrial Gases Market was valued at USD 2.68 Billion in 2023, and is expected to reach USD 3.30 Billion by 2029, rising at a CAGR of 3.75%.
Australia's industrial gases sector is witnessing strong expansion, a trend forecasted to persist over the next five years. The rising demand for industrial gases across various domains like manufacturing, healthcare, food and beverage, and energy is propelling this growth. Industrial gases hold a distinctive status in the global equities market, particularly in the material/chemical sector, as they exhibit a more defensive nature compared to other sectors.
The Australia New Zealand Industrial Gas Association (ANZIGA) serves as the primary industry body representing firms engaged in bulk and compressed gas production and distribution. ANZIGA plays a pivotal role in advocating best practices, ensuring safety standards, and facilitating regulatory compliance within the sector. Australia's interconnected gas grid, spanning eastern, northern, and southern states and territories, has undergone structural transformations, further catalyzing market growth.
Despite optimistic prospects, the industry faces hurdles such as stringent environmental regulations and the imperative for technological advancements to enhance efficiency and curb emissions. Buoyed by robust demand from diverse sectors, a resilient industry framework, and its defensive attributes, Australia's industrial gases market is well-poised for sustained expansion.
As the sector continues to innovate and adapt to evolving market dynamics, it is anticipated to maintain its growth trajectory, consolidating its stature as a significant player in the global industrial gases landscape.
Key Market Trends
Growing Use of Industrial Gases in Metal Fabrication
The increased utilization of industrial gases in metal fabrication stands out as a notable trend within the Australia Industrial Gases Market. Metal fabrication encompasses a range of critical processes including welding, cutting, bending, and shaping metal components to produce finished goods. Industrial gases play a central role in augmenting the effectiveness, accuracy, and quality of these fabrication procedures.
A primary application of industrial gases in metal fabrication is welding, where gases like argon, carbon dioxide, and helium function as shielding gases to safeguard the weld pool against atmospheric pollutants. These gases establish a stable arc and prevent oxidation during welding, resulting in welds of superior quality with enhanced durability and integrity. Gas metal arc welding (GMAW) and gas tungsten arc welding (GTAW), commonly referred to as MIG and TIG welding, respectively, depend on industrial gases for optimal operation.
Industrial gases such as oxygen and acetylene play a critical role in oxy-fuel cutting, a widely utilized process in metal fabrication for precise cutting of thick metal plates. The high temperatures generated through the combustion of acetylene with oxygen facilitate efficient cutting through both ferrous and non-ferrous metals, delivering superior edge quality while minimizing distortion.
Mode of Distribution Insights
The tonnage segment is projected to experience rapid growth during the forecast period. The dominance of tonnage in the market is largely fueled by the substantial demand for industrial gases across various industries. Sectors such as manufacturing, metal processing, chemical production, and healthcare rely heavily on continuous and high-volume supplies of gases like oxygen, nitrogen, and hydrogen to sustain their operations.
To cater to the needs of these industries, tonnage gases are typically delivered in liquid form using cryogenic trailers, which offer a more cost-effective solution for high-volume users compared to cylinder supply methods. This cost efficiency not only guarantees a steady and uninterrupted supply of gases but also makes tonnage supply an appealing choice for industries with significant gas consumption requirements.
Technological advancements have transformed the production and distribution of tonnage gases, enhancing efficiency levels to unprecedented heights. Modern air separation units, for instance, have the capacity to generate large quantities of industrial gases at exceptionally high purity levels, ensuring the reliability and quality of the tonnage supply.
Regional Insights
Australia Capital Territory & New South Wales emerged as the dominant player in the Australia Industrial Gases Market in 2023, holding the largest market share in terms of value. New South Wales (NSW), the most populous state in Australia, features a dynamic economy characterized by thriving sectors such as manufacturing, construction, and healthcare. These industries are major consumers of industrial gases, driving demand within the state.
The governments of NSW and the Australian Capital Territory (ACT) actively support industries that rely on industrial gases. NSW provides significant assistance to the manufacturing sector, while the ACT prioritizes technology and innovation, creating an environment conducive to the expansion of the industrial gases market.
Key Market Players
- BASF Australia
- Iwatani Australia
- Coregas
- Air Liquide Australia
- Wesfarmers Kleenheat Gas
- Supagas
- BOC
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 85 |
| Forecast Period | 2023 - 2029 |
| Estimated Market Value (USD) in 2023 | $2.68 Billion |
| Forecasted Market Value (USD) by 2029 | $3.3 Billion |
| Compound Annual Growth Rate | 3.7% |
| Regions Covered | Australia |
Report Scope:
In this report, the Australia Industrial Gases Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
Australia Industrial Gases Market, By Product:
- Oxygen
- Nitrogen
- Hydrogen
- Carbon Dioxide
- Argon
- Helium
Australia Industrial Gases Market, By Mode of Distribution:
- Tonnage
- Bulk
- Packaged
Australia Industrial Gases Market, By Region:
- Victoria & Tasmania
- Queensland
- Western Australia
- Northern Territory & Southern Australia
- Australia Capital Territory & New South Wales
For more information about this report visit https://www.researchandmarkets.com/r/clgzih
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