Latin America Industrial Gases Market Research Report: Forecast (2026-2032)

Latin America Industrial Gases Market - By Gases (Nitrogen, Oxygen, Carbon dioxide, Argon, Hydrogen, Helium, Acetylene, Others), By Application (Combustion and process oxygen, Welding and meta... ... n, Welding and metal fabrication, Inerting blanketing and heat treating, Cryogenics and liquefaction, Chemical synthesis and hydrogenation, Purging and purifications, Analytical and calibration), By Supply Mode (Packaged Gases Supply (Merchant Sales), Bulk or Liquid Gases Supply, Onsite Generation or Pipeline Supply, Gases-as-a-Service Model), By End-User Industry (Oil and Gases, Petrochemicals and Chemicals, Power and Energy, Mining, Steelmaking, Metals, Healthcare, Food and Beverages, Fertilizers, Others), and others Read more

  • Energy
  • Nov 2025
  • 165
  • PDF, Excel, PPT

Latin America Industrial Gases Market Size: Forecast (2026-2032) 

The Latin America Industrial Gases Market size is valued at around USD 8.75 billion in 2025 and is projected to reach USD 11.88 billion by 2032. Along with this, the market is estimated to grow at a CAGR of around 4.47% during the forecast period, i.e., 2026-32. Latin America’s Industrial Gases industry is poised for robust growth, driven by major investments across steel, metals, and energy-transition sectors. Growing industrialization across Brazil, Mexico, Chile, and Colombia is driving steady consumption of oxygen, nitrogen, carbon dioxide, and specialty gases.

For instance, one of the region’s largest steel producers allocated USD 320 million in Q2 2025 toward capacity expansions, digitalization, and efficiency upgrades. These improvements enhance melt-shop performance, rolling-mill capability, and energy systems, which in turn elevate the need for oxygen for high-temperature combustion, argon for shielding, and nitrogen for process control across its facilities. Meanwhile, Grupo INFRA announced its largest-ever investment in Mexico, building a 2,500-ton/day ASU producing oxygen, nitrogen, and argon, plus a 760-ton/day CO₂ purification and liquefaction plant targeting steel, healthcare, automotive, metallurgical, and beverage sectors.

Emerging policy frameworks and project-development plans across Latin America are also accelerating industrial-gas demand. In Argentina, Aldebaran Resources announced plans to invest USD 1.5 billion in its Altar copper-gold project in San Juan Province, a long-life asset projected to operate for at least 20 years. Its large processing footprint will require continuous supplies of oxygen, nitrogen, and specialty gases, with future demand likely rising further if downstream smelting or metallurgical facilities are added.

Industrial-policy momentum is boosting demand for high-purity gases across electronics, packaged foods, pharmaceuticals, and renewable-energy manufacturing. Mexico’s incentives for semiconductor and EV corridors are increasing nitrogen and argon needs, while Brazil’s green-hydrogen pilots are raising oxygen demand creating a strong multi-sector growth pipeline through 2032.

Latin America Industrial Gases Market  Recent Developments:

  • July 2025: Cryoinfra, part of Grupo Infra, is constructing a new air-separation unit (ASU) in Monterrey, Nuevo León, with a capacity exceeding 2,000 tons/day to produce oxygen, nitrogen and argon, according to a recent industry report. This expansion is part of the company’s strategy to serve the rapidly growing industrial base in northern Mexico, including the steel, automotive, electronics, and mining sectors.
  • April 2024: The Linde’s subsidiary White Martins announced a new 5 MW green hydrogen electrolyzer in Jacareí, São Paulo, co-located alongside its existing air-separation plant. The facility, powered by wind and solar energy, will generate certified green hydrogen to serve industrial sectors such as metals and chemicals, supporting lower-emissions operations.

Latin America Industrial Gases Market Scope:

 Category  Segments
By Gases Nitrogen, Oxygen, Carbon dioxide, Argon, Hydrogen, Helium, Acetylene, Others),
By Application Combustion and process oxygen, Welding and metal fabrication, Inerting blanketing and heat treating, Cryogenics and liquefaction, Chemical synthesis and hydrogenation, Purging and purifications, Analytical and calibration),
By Supply Mode Packaged Gases Supply (Merchant Sales), Bulk or Liquid Gases Supply, Onsite Generation or Pipeline Supply, Gases-as-a-Service Model),
By End-User Industry Oil and Gases, Petrochemicals and Chemicals, Power and Energy, Mining, Steelmaking, Metals, Healthcare, Food and Beverages, Fertilizers, Others), and others

Latin America Industrial Gases Market Drivers:

Expanding Mining Sector Driving Market Growth

Latin America’s growing mining sector is steadily reinforcing structural demand for industrial gases. As Argentina and Peru ramp up smelting, refining and ore-processing capabilities, the region is experiencing a structural rise in the need for oxygen, nitrogen, argon and hydrogen across production chains.

For instance, in Argentina, steelmaking momentum has strengthened, with crude steel output rising 12.3% year-on-year in May 2025, reflecting renewed industrial activity and higher consumption of process gases. Similarly, in Peru, large-scale operations such as Anglo American’s Quellaveco copper project remain central to the country’s processing capacity, creating sustained requirements for oxygen-enriched combustion, flotation optimization and other gas-enabled metallurgical applications.

Over the coming years, investments amplify this trajectory. For instance, in Argentina, Sidersa’s USD 286.3 million investment under the RIGI incentive will establish a next-generation steel plant requiring substantial volumes of oxygen, nitrogen and argon. Peru, meanwhile, anticipates USD 4.8 billion in mining investment in 2025 and more than USD 40 billion in committed projects through 2028, largely focused on copper and base metals that further solidify industrial-gas demand for concentration, smelting, and metallurgical processing.

Overall, these developments underscore a region-wide shift toward higher industrial-gas consumption, driven by modernization cycles, capacity expansions, and long-term resource-sector investments across Latin America.

Growing Public Health Infrastructure

Latin America’s strengthening public-health infrastructure is steadily elevating demand for medical-grade oxygen across various countries. As hospital networks grow and emergency-care standards rise, oxygen is becoming a core clinical utility rather than a crisis-response commodity.

For instance, Mexico’s National Health Programme 2024–2030 is driving a major scale-up of hospital capacity and primary-care coverage, requiring installation of on-site oxygen-generation units, medical-gas pipelines, and cryogenic storage in new and upgraded facilities. Meanwhile, Peru continued deploying government-procured PSA oxygen plants certified by Digemid to strengthen oxygen availability in high-altitude and remote regions, where logistics constraints historically created supply gaps.

Future investments further intensify this demand trajectory. In September 2025, the Brazilian government announced 899 new healthcare units with USD 500 million in infrastructure upgrades, prioritizing underserved regions. Similarly, the IFC’s USD 112 million investment in Auna operating hospitals and clinics across Peru, Mexico and Colombia will significantly raise requirements for medical-oxygen systems in newly added facilities.

Collectively, these initiatives embed medical oxygen as a core component of Latin America’s healthcare delivery system, driving consistent, year-round consumption rather than crisis-driven spikes. With expanding hospital networks, upgraded emergency-care capacity and stricter infrastructure standards across the region, medical oxygen is set to remain one of the most stable and rapidly growing demand drivers for the industrial-gases market.

  1. Market Segmentation
  2. Introduction
    1. Product Definition
    2. Research Process
    3. Assumptions
  3. Executive Summary
  4. Latin America Industrial Gases Market Policies, Regulations, and Standards
  5. Latin America Industrial Gases Market Production Capabilities
    1. Year on Year Annual Production Capacity
    2. Year on Year Annual Production
    3. Competitor Wise Production Capabilities
  6. Latin America Industrial Gases Market Supply Chain Analysis
    1. Overall Supply Chain & Margin Analysis
  7. Latin America Industrial Gases Market Trends & Developments
  8. Latin America Industrial Gases Market Dynamics
    1. Growth Drivers
    2. Challenges
  9. Latin America Industrial Gases Market Hotspot & Opportunities
  10. Latin America Industrial Gases Market Outlook, 2022-2032
    1. Market Size & Outlook
      1. By Revenues (USD Million)
    2. Market Share & Forecast
      1. By Gases -Market Size & Forecast 2022-2032, USD Million
        1. Nitrogen
        2. Oxygen
        3. Carbon dioxide
        4. Argon
        5. Hydrogen
        6. Helium
        7. Acetylene
        8. Others
      2. By Application- Market Size & Forecast 2022-2032, USD Million
        1. Combustion and process oxygen
        2. Welding and metal fabrication
        3. Inerting blanketing and heat treating
        4. Cryogenics and liquefaction
        5. Chemical synthesis and hydrogenation
        6. Purging and purifications
        7. Analytical and calibration
      3. By Supply Mode - Market Size & Forecast 2022-2032, USD Million
        1. Packaged Gases Supply (Merchant Sales)
        2. Bulk or Liquid Gases Supply
        3. Onsite Generation or Pipeline Supply
        4. Gases-as-a-Service Model
      4. By End-User Industry- Market Size & Forecast 2022-2032, USD Million
        1. Oil and Gases
        2. Petrochemicals and Chemicals
        3. Power and Energy
        4. Mining, Steelmaking, Metals
        5. Healthcare
        6. Food and Beverages
        7. Fertilizers
        8. Others
      5. By Country
        1. Brazil
        2. Mexico
        3. Argentina
        4. Chile
        5. Colombia
        6. Peru
        7. Others
      6. By Company
        1. Company Revenue Shares
        2. Competitor Characteristics
  11. Brazil Industrial Gases Market Outlook, 2022-2032
    1. Market Size & Outlook
      1. By Revenues (USD Million)
    2. Market Share & Forecast
      1. By Gas - Market Size & Forecast 2022-2032, USD Million
      2. By Application - Market Size & Forecast 2022-2032, USD Million
      3. By Supply Mode - Market Size & Forecast 2022-2032, USD Million
      4. By End User- Market Size & Forecast 2022-2032, USD Million
  12. Mexico Industrial Gases Market Outlook, 2022-2032
    1. Market Size & Outlook
      1. By Revenues (USD Million)
    2. Market Share & Forecast
      1. By Gas - Market Size & Forecast 2022-2032, USD Million
      2. By Application - Market Size & Forecast 2022-2032, USD Million
      3. By Supply Mode - Market Size & Forecast 2022-2032, USD Million
      4. By End User- Market Size & Forecast 2022-2032, USD Million
  13. Argentina Industrial Gases Market Outlook, 2022-2032
    1. Market Size & Outlook
      1. By Revenues (USD Million)
    2. Market Share & Forecast
      1. By Gas - Market Size & Forecast 2022-2032, USD Million
      2. By Application - Market Size & Forecast 2022-2032, USD Million
      3. By Supply Mode - Market Size & Forecast 2022-2032, USD Million
      4. By End User- Market Size & Forecast 2022-2032, USD Million
  14. Chile Industrial Gases Market Outlook, 2022-2032
    1. Market Size & Outlook
      1. By Revenues (USD Million)
    2. Market Share & Forecast
      1. By Gas - Market Size & Forecast 2022-2032, USD Million
      2. By Application - Market Size & Forecast 2022-2032, USD Million
      3. By Supply Mode - Market Size & Forecast 2022-2032, USD Million
      4. By End User- Market Size & Forecast 2022-2032, USD Million
  15. Colombia Industrial Gases Market Outlook, 2022-2032
    1. Market Size & Outlook
      1. By Revenues (USD Million)
    2. Market Share & Forecast
      1. By Gas - Market Size & Forecast 2022-2032, USD Million
      2. By Application - Market Size & Forecast 2022-2032, USD Million
      3. By Supply Mode - Market Size & Forecast 2022-2032, USD Million
      4. By End User- Market Size & Forecast 2022-2032, USD Million
  16. Peru Industrial Gases Market Outlook, 2022-2032
    1. Market Size & Outlook
      1. By Revenues (USD Million)
    2. Market Share & Forecast
      1. By Gas - Market Size & Forecast 2022-2032, USD Million
      2. By Application - Market Size & Forecast 2022-2032, USD Million
      3. By Supply Mode - Market Size & Forecast 2022-2032, USD Million
      4. By End User- Market Size & Forecast 2022-2032, USD Million
  17. Latin America Industrial Gases Market Key Strategic Imperatives for Growth & Innovation
  18. Competition Outlook
    1.  Company Profiles
      1. Linde plc
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      2. Air Liquide S.A.
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      3. INFRA S.A. de CV
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      4. Tropigas de Colombia S.A
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      5. Exel Air
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      6. Messer Group
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      7. Quimobásicos
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      8. Others (Emerging Startups & MSMEs)
  19. Disclaimer


MarkNtel Advisors follows a robust and iterative research methodology designed to ensure maximum accuracy and minimize deviation in market estimates and forecasts. Our approach combines both bottom-up and top-down techniques to effectively segment and quantify various aspects of the market. A consistent feature across all our research reports is data triangulation, which examines the market from three distinct perspectives to validate findings. Key components of our research process include:

1. Scope & Research Design At the outset, MarkNtel Advisors define the research objectives and formulate pertinent questions. This phase involves determining the type of research—qualitative or quantitative—and designing a methodology that outlines data collection methods, target demographics, and analytical tools. They also establish timelines and budgets to ensure the research aligns with client goals.

2. Sample Selection and Data Collection In this stage, the firm identifies the target audience and determines the appropriate sample size to ensure representativeness. They employ various sampling methods, such as random or stratified sampling, based on the research objectives. Data collection is carried out using tools like surveys, interviews, and observations, ensuring the gathered data is reliable and relevant.

3. Data Analysis and Validation Once data is collected, MarkNtel Advisors undertake a rigorous analysis process. This includes cleaning the data to remove inconsistencies, employing statistical software for quantitative analysis, and thematic analysis for qualitative data. Validation steps are taken to ensure the accuracy and reliability of the findings, minimizing biases and errors.

Data Trangulation

4. Data Forecast and FinalizationThe final phase involves forecasting future market trends based on the analyzed data. MarkNtel Advisors utilize predictive modeling and time series analysis to anticipate market behaviors. The insights are then compiled into comprehensive reports, featuring visual aids like charts and graphs, and include strategic recommendations to inform client decision-making

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