Skip to main content

Exclusive Market Study Estimates that Global Gcc Industrial Gases will Grow at 7.3% CAGR During 2016-2022

Consumption of industrial gases in GCC will reach 3.75 million tonnes in 2016, witnessing an increase of 5.4% over 2015. Chemicals & petrochemicals will continue to be the largest application segment for industrial gases in terms of volume in 2016, accounting for 815.6 KT (Kilo tonnes) in 2016, up from 772.2 KT in 2015.
Upcoming mega events in GCC, including Dubai Expo 2020 and FIFA World Cup 2022 in Qatar, will continue to drive construction activity, fuelling demand for industrial gases. Demand is expected to pick up in non-oil sectors, as prevailing low prices continue to drive focus on reducing dependency on oil exports.
Request For Report Sample@ https://www.persistencemarketresearch.com/samples/10864
Saudi Arabia will continue to be the largest consumer of industrial gases in 2016, accounting for a revenue share of 46.8% in 2016. Saudi Arabia is the leading economy in the region and country’s strong chemicals & petrochemicals sector will continue to ramp up demand for industrial gases in 2016 as well. Region-wise, UAE will be the second largest GCC industrial gases market, representing market revenues worth US$ 190.6 Mn -- an increase of 6.8% in 2016 over 2015.
Among all the gas types, oxygen will continue to account for leading market revenue share in 2016, owing to high consumption in chemicals, petrochemicals, refining, metals and fabrication industry. Demand for argon gas will witness highest growth rate in 2016, owing to its increasing utilization in metallurgy, welding and metal fabrication applications.
Request For Report Table of Content (TOC): https://www.persistencemarketresearch.com/methodology/10864
While refining application segment will lead overall GCC industrial gas revenues in 2016, metals and metallurgy segment will increase at highest growth rate in 2016. Increasing infrastructural development activities are expected to be the major driver for consumption growth of industrial gases in metals & metallurgy application.
Leading players such as Gulf Cryo, SABIC-NIGC, The Linde Group, Air Liquide etc. are focusing on reducing operational and distribution costs to consolidate their position in the market. Merger and acquisitions and joint ventures remain a key strategy in the GCC industrial gases market; for example, over the last couple of years, companies such as the Linde group, Air Liquide, Praxair Inc. and Air Products & Chemicals Inc. have significantly increased their footprint in the GCC industrial gases market by entering into JVs with regional market players.
Long-term Outlook: PMR forecasts the GCC industrial gases market to increase at 7.3% CAGR during the forecast period 2016-2022, and reach US$ 1,270.1 Mn in revenues.
Know More About Report@ https://www.persistencemarketresearch.com/mediarelease/gcc-industrial-gases-market.asp
Labels:

Comments

Post a Comment

Popular posts from this blog

Covaxin vs Covishield: A Comparison between the Covid-19 Vaccines of India

  The second wave of Covid-19 pandemic has reminded people the hard times faced during the coronavirus outbreak in 2020 in India. However, there is still an upper hand in 2021 in the fight against Covid-19, and this can be attributed to the nationwide vaccination drive. It has been clear that getting vaccinated is one of the simple yet effective ways to combat the pandemic. Vaccination helps in producing antibodies and boosts the immune system to fight against any infection. Besides, getting Covid-19 vaccination is known to reduce the severity of the infection and helps in lowering the chances of getting hospitalized due to the severe infection caused due to Covid-19. Covaxin Vs Covishield Currently, the Indian Government has approved two vaccines namely Covaxin and Covishield to fight Covid-19. Many people are wondering which vaccine is better among the two, and here is a quick read to help them answer all their queries. Covaxin Covaxin was given approval for by the Indian
Post a Comment
Read more

Contactless Payment Market size share growth analysis market demand

  Contactless payment, also called as a tap-and-go system is a secure mode where the transactions are done using technologies such as NFC (near field communication), RFID (radio frequency identification), infrared, and bluetooth. Contactless payment is hassle-free and convenient for customers as it takes only one-tenth of the time taken by the old-style electronic transaction.Contactless payment is becoming popular owing to its benefits such as secure and fast payments without any need for cash or identifying details. Initially, these type of payments or cards were used for the purpose oftravelling tickets only. But today, this technology has evolved and is helping customers to make payments for almost anything. However, the permissible amount for a contactless payment varies by country and by the bank. Access to PDF Sample Report Here! @  https://www.researchdive.com/download-sample/181 Recent Developments in the Contactless Payment Industry As per a Research Dive blog,  the digital e
2 comments
Read more

Development: Aerospace 3D Printing Market Strategy Planning by Top Manufacturers

  Aerospace 3D Printing Market Analysis 2026: According to a study of the Research Dive,  aerospace 3D printing market  forecast shall cross  $5,933.4 million by 2026 , growing at a  CAGR of 26.8%  during forecast period. Aerospace 3D printing is primarily used to increase the efficiency of A&D supply chain, reduction of storage costs of inventory and waste production materials. Furthermore, the Aerospace 3D printing industry is focusing more on creating parts of aircraft that are lighter and stronger than parts made by using traditional manufacturing. Astonishing advantages of 3D printings in the supply chain of the aerospace and defense industry are projected to surge in the global market. In addition, the financial support provided by the government and non-government organizations across the globe is also driving the 3D printing in aerospace industry. For instance,   National Aerospace Technology Exploitation Programme grants £140,000 funds for UK based company Sigma Components
Post a Comment
Read more