Press Release

The UAE Industrial Gases Market to Grow at a CAGR of Around 6.07% During 2024-2030

The UAE Industrial Gases Market size was valued at USD 872 million in 2023 and is expected to reach USD 1.31 billion by 2030. Along with this, the market is estimated to grow at a CAGR of 6.07% during the forecast period of 2024-30, cites MarkNtel Advisors in the recent research report. The widespread application of gases in sectors, like F&B, electronics, etc., and the expansion of manufacturing facilities are responsible for the market growth.

In recent years, the demand for snacks has been increasing owing to the higher employment rates & the growing adoption of convenient food alternatives in the UAE. In 2023, around 6.6 million individuals were employed, an increase of about 0.1 million compared to 2022 stated the World Bank. The working individuals follow a hectic lifestyle and have less time to prepare a meal. As a result, the customer highly opts for ready-to-eat meals. These food commodities are made using industrial gases to maintain the quality of the products and enhance their shelf life. Thus, the increasing transition towards these food products, hence uplifting the market growth.

Moreover, the Oil & Gas exports contribute substantially to the UAE's gross domestic products. However, the fluctuations in oil prices due to supply chain constraints are resulting in economic volatility. Thus, the governing bodies are launching economic diversification plans to improve the country's financial resources. Under these initiatives, the official authorities of the nation are introducing economic zones and encouraging public-private partnerships to launch new industries, which would continue to enlarge the market size in the coming years.

Furthermore, there has been a rise in the sales of electronic products, like PCs and smartphones in the UAE. These digital products are made using industrial gases since several gases like nitrogen & oxygen improve the electrical properties of the components. Thus, the development of the new semiconductor industries would continue to uplift the requirement for industrial gases in forthcoming years, further states the research report, “UAE Industrial Gases Market Analysis, 2024.”

The UAE Industrial Gases Market Segmentation Analysis

Carbon Dioxide to Outperform During Forecast Years

Based on the type, the market is further bifurcated into, Nitrogen, Oxygen, Carbon Dioxide, Hydrogen, Argon, Acetylene, and Others (Helium, Methane, Ammonia, etc.). Of them all, Carbon Dioxide accounts for a notable market share since it is one of the leading feedstocks that helps in synthesizing various polymers. These properties make it a favorable choice within the chemical processing units.

Along with this, this type of gas is available in different forms, including solid, liquid, and gas, making it a suitable refrigerant in the electronics industry. Additionally, the attributes of this gas type help enhance the hardness of the casting molds, making it a leading choice within the metallurgical industries.

Moreover, this gas helps in plant growth owing to this it is commonly used during agricultural practices. Therefore, the increasing focus on setting up agricultural farms would uplift the demand for carbon dioxide in the UAE during 2024-2030.

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including Air Products and Chemicals, Inc., Linde Group, Gulf Cryo, Dubai Industrial Gases, ADNOC Gas, Brothers Gas, Atlas Copco, Emirates Industrial Gases Company L.L.C, and Others, are looking forward to strengthening their market position.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the UAE Industrial Gases Market?
3. What key factors would propel and impede the industry across the country?
4. How has the industry been evolving in terms of geography & product adoption?
5. How has the competition been shaping across the country?
6. How has the buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?