Asia-Pacific Industrial Gases Market Report and Forecast 2025-2034

According to this report, the Asia-Pacific industrial gases market size reached a value of nearly USD 32.45 billion in 2024. Aided by the rising demand for industrial gases in various sectors, including healthcare, manufacturing, and chemicals, the market is projected to grow at a CAGR of 5.50% between 2025 and 2034 to reach a value of around USD 55.4 billion by 2034.

Industrial gases, such as oxygen, nitrogen, hydrogen, and carbon dioxide, play a crucial role in numerous industries, supporting processes like metal fabrication, chemical production, and food processing. These gases are used for welding and cutting, enhancing chemical reactions, and preserving perishable food items. Additionally, in the healthcare sector, industrial gases are essential for medical applications such as respiratory therapy and anaesthesia.

Rapid industrialisation and urbanisation are major factors driving the Asia-Pacific industrial gases market growth. Countries like China, India, Japan, and South Korea are witnessing significant infrastructure development and manufacturing growth, increasing the demand for industrial gases. The expanding chemical and automotive industries further contribute to the rising consumption of these gases.

The increasing use of industrial gases in the healthcare sector is one of the major factors fuelling the Asia-Pacific industrial gases market development. Oxygen and nitrous oxide are extensively used in hospitals for patient care, while hydrogen finds applications in pharmaceutical production. With rising healthcare needs and the growing geriatric population in Asia-Pacific, the demand for medical gases is expected to surge.

Furthermore, the burgeoning electronics industry in countries like China, South Korea, and Taiwan is also supporting the Asia-Pacific industrial gases market expansion. Gases such as nitrogen and argon are widely used in semiconductor manufacturing and electronics fabrication. The increasing demand for consumer electronics, driven by technological advancements, is bolstering the need for industrial gases in this sector.

The food and beverage industry also plays a crucial role in market growth, with gases like carbon dioxide and nitrogen used for food packaging, preservation, and carbonated beverages. As consumers shift towards packaged and frozen foods, the demand for industrial gases in this sector is set to rise.

The transition towards cleaner energy sources has significantly influenced the Asia-Pacific industrial gases market dynamics. Hydrogen, in particular, is gaining attention as a key component in green energy solutions. The adoption of hydrogen fuel cells for transportation and power generation is expected to propel the market growth in the coming years.

Additionally, the integration of advanced technologies in gas production and distribution is shaping the Asia-Pacific industrial gases market trends. Innovations in cryogenic storage, gas separation techniques, and pipeline networks are enhancing the efficiency and cost-effectiveness of industrial gas supply.

Government regulations and environmental policies also impact the market, encouraging the adoption of sustainable gas production methods. Several countries in the region are promoting carbon capture and storage (CCS) technologies to reduce emissions, driving demand for industrial gases in environmental applications.

China is expected to dominate the Asia-Pacific industrial gases market share, driven by its massive manufacturing sector, rapid urbanisation, and strong demand from industries such as chemicals, healthcare, and electronics. As the world’s largest steel producer, China’s need for oxygen and nitrogen remains high. The country is also investing heavily in hydrogen energy, further boosting demand. Government initiatives supporting industrial growth and technological advancements in gas production further enhance its market leadership.

As per the Asia-Pacific industrial gases market analysis, other key nations, including India, Japan, and South Korea, will also witness strong growth, but China’s vast industrial base and infrastructure development will keep it at the forefront.

The Asia-Pacific industrial gases market value is poised for steady growth in the coming years, driven by increasing demand from key industries such as healthcare, manufacturing, and electronics. The shift towards green energy and advancements in gas production technologies will further support market expansion. With strong investments in infrastructure and innovation, industrial gas manufacturers are well-positioned to capitalise on emerging opportunities in the region.

Market Segmentation

The market can be divided based on type, application, supply mode, and country.

Market Breakup by Type

• Nitrogen
• Oxygen
• Carbon Dioxide
• Argon
• Hydrogen
• Others

Market Breakup by Application

• Manufacturing
• Metallurgy
• Energy
• Healthcare
• Chemicals
• Others

Market Breakup by Supply Mode

• Packaged
• Bulk
• On-Site

Market Breakup by Country

• China
• Japan
• India
• ASEAN
• Australia
• Others

Competitive Landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the Asia-Pacific industrial gases market. Some of the major players explored in the report are as follows:

• Linde plc.
• L’AIR LIQUIDE S.A.
• Air Products and Chemicals, Inc.
• Messer Asia-Pacific, Inc.
• Matheson Tri-Gas, Inc.
• Iwatani Corporation
• NIPPON SANSO HOLDINGS CORPORATION.
• Others