Vietnam Industrial Gases Market is anticipated to grow with increasing industrialization, in the forecast period, 2023-2027F.
According to TechSci report on, “Vietnam Industrial Gases Market – By Region, Competition Forecast & Opportunities, 2027” Vietnam industrial gases market is anticipated to grow with 7.5% CAGR during the forecast period, 2023-2027, on the account of growing expansion of chemical industry. The market value in the 2021 was USD385 million and it is further growing with rising demands for industrial gases from food & beverage industry. Expanding healthcare industry, growing demands for supportive ventilation systems for the patients with unable to breathe and supply for the ventilation systems during the surgeries are further driving the growth of the Vietnam industrial gases market in the upcoming five years. The demand for industrial gases is further increasing due to higher consumption of them by metallurgy & oil & gas industry, thereby supporting the growth of the Vietnam industrial gases market in the next five years. The industrial gases are utilized for the analysis of the metals and thus growing excavations of metals drives the market growth. Also, the industrial gases like hydrogen, carbon have applications in petrochemical industry. Increasing inclination of the automobile industry and the consumers opting for the CNG as fuel further drives the market growth.
Increasing industrialization, rapidly growing globalization in the country along with the growing production of industrial gases as a by product of various chemical processes is aiding the growth of the Vietnam industrial gases market in the future five years. Growing investments and rapidly increasing market players in the country involved with the production of industrial gases are also substantiating the growth of the Vietnam industrial gases market in the forecast years through 2027.
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The Vietnam industrial gases market is segmented by product, mode of distribution, competitional landscape, and regional distribution. Based on product, the market is bifurcated into oxygen, nitrogen, hydrogen, carbon dioxide, argon and helium. The further discussion is based on the applications of each industrial gases. Oxygen has application in metallurgy, light engineering industry, medical and others. Rising demands from the healthcare industry will support the growth of oxygen production and thus driving the growth of the market. Advancement in the light engineering industry will further support the growth of the Vietnam industrial gases market.
Nitrogen has applications in pharma & chemical industry, metallurgy, petrochemical and others. Nitrogen gas productions are increasing due to metallurgy industry. The gas is used actively for identification of metals and analysis of the physical and chemical properties of the metals, and thus aiding the market growth. Hydrogen has applications in refinery, chemical and petrochemicals, fuel & atomic power generation, metallurgical & metal processing, hydrogenation of fats and oils and others. Chemical and petrochemical industry utilizes hydrogen for the production of petroleum products. Recent advancement toward eco-friendly and natural energy demands is further driving the growth of the Vietnam industrial gases market in the future five years. Carbon dioxide has applications in chemical & petrochemical, food & beverages, welding, healthcare and others. Argon has applications in welding, metallurgy and others. There are two type forms of helium, liquid and gaseous and it has applications in saturation diving, ballooning, MRI, NMR, and others.
Based on mode of distribution, the market is also fragmented into tonnage, bulk and packaged. Tonnage mode of distribution is anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years on grounds of increasing industrialization in north Vietnam and south Vietnam. Moreover, the development of the chemical industries in the North and South Vietnam is increasing and thus the market expansion is expected in the future five years. Moreover, presence of large number of metal industry, food processing industry and electronics industry in the country is further aiding the growth of the segment as well as the growth of the Vietnam industrial gases market in the forecast years through 2027.
A partial list of major market players of the Vietnam industrial gases market includes:
- 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.
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“Expanding chemical industry guarantees higher production of the industrial gases. Moreover, the applications of the industrial gases are in multiple end use industries and the demands would increase as the industrialization grows in the country. Rising concerns for the use, production, distribution of the industrial gases also affects the market growth in future. New market players would be required to invest heavily in the production & distribution sector. Entering the market is quite competitive and demands for supply satisfaction for brand establishments,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Vietnam Industrial Gases Market By Product (Oxygen {Metallurgy, Light Engineering Industry, Medical and Others}, Nitrogen {Pharma & Chemical Industry, Metallurgy, Petrochemical and Others}, Hydrogen {Refinery, Chemical and Petrochemicals, Fuel & Atomic Power Generation, Metallurgical & Metal Processing, Hydrogenation of Fats and Oils and Others}, Carbon Dioxide {Chemical & Petrochemical, Food & Beverages, Welding, Healthcare and Others}, Argon {Welding, Metallurgy and Others} and Helium {Saturation Diving, Ballooning, MRI, NMR and Others}), By Mode of Distribution (Tonnage, Bulk and Packaged), By Region, Competition Forecast & Opportunities, 2027” has evaluated the future growth potential of Vietnam industrial gases market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Vietnam industrial gases market.
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