DUBLIN–(BUSINESS WIRE)–The “Vietnam Industrial Gases Market, By Product, By Mode of Distribution, By Region, Competition Forecast & Opportunities, 2027” report has been added to ResearchAndMarkets.com’s offering.
The Vietnam industrial gases market was valued at USD385 million in 2021 and is anticipated to further grow with a CAGR of 7.5% during the forecast year, 2023-2027. The market growth can be attributed to the rising demand for industrial gases across various end use industries.
Besides, the increasing demand for oxygen and helium in the healthcare sector for supplying them to artificially ventilated patients and expanding end use industries like metallurgy, chemical, pharmaceutical, etc., are anticipated to support the growth of the Vietnam industrial gases market in the next five years. Moreover, increasing investments by market players for innovation and new product designing in the electronics industry is propelling the growth of the Vietnam industrial gases market.
Industrial gases are typically created or produced in companies through various chemical processes. Many industries employ industrial gases, including the oil and gas sector, petrochemicals, healthcare, pharmaceuticals, power generation, mining, metallurgy, fuel, food and beverage, biotechnology, agriculture, etc. Industrial gases are highly concentrated and pure volatile chemicals. The storage, delivery, and usability of industrial gases are managed with specific considerations and standards.
The numerous end use sectors like healthcare, metallurgy, petrochemical, etc., are driving the demand for industrial gases during the next five years. Additionally, the nation is home to an expanding number of manufacturing facilities and companies that produce industrial gases. Manufacturers based in countries like Japan, South Korea, China, Taiwan, Malaysia, and Singapore are entering the Vietnamese market to establish local manufacturing facilities. Rising sales are assisting the production of these products, which is aiding the market growth.
The Vietnam industrial gases market is segmented on the basis of product, mode of distribution, competitional landscape, and regional distribution. Based on the product, the market is divided into oxygen, nitrogen, hydrogen, carbon dioxide, argon, and helium. The oxygen segment is anticipated to register the highest growth in the coming years, owing to its rising application in metallurgy, light engineering industry, medical, and others.
Key players operating in the Vietnam industrial gas market are Messer Vietnam Industrial Gases Co. Ltd., Air Liquide, Linde Vietnam, Taiyo Nippon Sanso Vietnam, Iwatani Corporation, SIG Vietnam, Osaka Gas, North Vietnam Industrial Gases Ltd., among others.
Years considered for this report:
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Report Scope:
In this report, Vietnam industrial gases market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Vietnam Industrial Gases Market, By Product & Applications:
Vietnam Industrial Gases Market, By Mode of Distribution:
Vietnam Industrial Gases Market, By Region:
For more information about this report visit https://www.researchandmarkets.com/r/wsa39k
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