Stay Informed: nexAir’s Tips for the Latest Trends and Insights in the Gas Industry

The global industrial gas industry is on an upward trajectory with a market value predicted to reach USD 137.9 billion by 2028. Meanwhile, its compound annual growth rate (CAGR) is at 5.5% from 2023 to 2028, reaching 7.42% by 2030. 

Several factors and trends are contributing to this trend. nexAir’s innovative strategies empower us to meet the increasing customer demand. 

In this article, we outline some of the driving forces behind these figures. We also offer tips on how affected industries can respond to the changing market demands across the globe, especially in regions experiencing steady or rising consumption.

Growing Population

The main driver influencing the demand for gases is the global population growth. Advancements in healthcare and improvements in general living conditions are fueling demand. They are reducing mortality rates and enabling the population to reach over 8 billion people in 2024, with Asia leading the numbers. 

With a burgeoning population, the world needs larger supplies of consumer goods, including more food, electronics, vehicles, and building materials.

Agricultural Demand

As agriculture and food sectors adjust their output, they need more chemicals and fertilizers. To meet this growing need, we increased our inventory of nitrogen, hydrogen, and oxygen so they can sustain and expand production. 

Food Preservation and Packaging

There is also a surge in demand for frozen food and wider distribution networks. Food supplies must reach highly populated regions like India and China. This means greater dependency on gases used during packaging like nitrogen, hydrogen, and oxygen. Along with these gases, dry ice is used to maintain the quality and freshness of produce while packing, storing, and delivering them over long distances. 

Manufacturing  

Manufacturing companies in the Asia Pacific are experiencing robust growth, fueling the demand for industrial and welding gases. These industries include transportation, electronics, construction, energy as well as steel and metal fabrication. 

Electronic Devices

Digital and AI markets continue to soar, leading to a higher demand for semiconductors. To produce these materials, businesses need ultra-high-purity gases like nitrogen and argon.   

Healthcare

Though the worst of the global pandemic is over, the healthcare industry has been continuously working on improving its services and facilities. This involves having a reliable supply of medical gases from reliable suppliers like nexAir.

In addition to using gases for medical treatments and procedures, laboratory-grade gases are used in medical and pharmaceutical research, allowing the industry to acquire new knowledge, manage novel viruses, and develop breakthrough medicines.  

Fueling the Future 

Across these industries, industrial gases play a crucial role in ensuring safety, precision, operability, and efficiency in systems and processes. nexAir’s KnowHow shares the latest techniques and innovations with our customers to help them meet the growing demands of their markets. 

We help fuel advancements that help our customers Forge Forward with their operations, empowering them to respond to emerging changes while being prepared for the future. 

Contact us today. Discover how we can help optimize your production and meet the growing demand for your products and services.