Asia Pacific Industrial Gases Market Research Report: Forecast (2026-2032)

Asia Pacific Industrial Gases Market - By Gas (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 Gas Supply (Merchant Sales), Bulk or Liquid Gas Supply, Onsite Generation or Pipeline Supply, Gas-as-a-Service Model), By End-User Industry (Oil and Gas, Petrochemicals and Chemicals, Power and Energy, Mining, Steelmaking, Metals, Healthcare, Food and Beverages, Fertilizers, Others), and others Read more

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

Asia Pacific Industrial Gases Market Size: Forecast (2026-2032)

The Asia Pacific Industrial Gases Market size is valued at around USD 40.58 billion in 2025 and is projected to reach USD 52.93 billion by 2032. Along with this, the market is estimated to grow at a CAGR of around 5.46% during the forecast period, i.e., 2026-32.

Asia Pacific Industrial Gases Key Takeaways:

  • Major on-site capacity additions are being driven by metals and heavy industry projects. Linde invested about USD120 million to build, own, and operate a new air separation unit supplying oxygen and nitrogen to PT Freeport Indonesia's Manyar copper smelter, representing Linde's largest ASU in Southeast Asia and increasing bulk supply density in East Java.
  • Low-carbon hydrogen ambitions are creating a new merchant demand vector that could scale rapidly in Southeast Asia. The International Energy Agency reports that global hydrogen demand exceeded 97 million tonnes in 2023, and the IEA and related analysis show Southeast Asia's hydrogen volumes could rise from roughly 3,000 tonnes today to about 430,000 tonnes by 2030 under announced projects and plans, implying a multi-hundredfold increase in regional demand that will require both electrolyzer and industrial gas infrastructure.

Asia Pacific Industrial Gases Market Key Trends & Developments:

  • September 26, 2024

Air Liquide announced an investment close to USD69.9 million to acquire and operate an air separation unit for Wanhua Chemical Group in Yantai, China. The project includes a new liquid argon unit and an ASU expected to serve Wanhua and the wider Shandong industrial merchant market with more than 2,000 tonnes per day of production capacity reported in project disclosures. The move strengthens Air Liquide's footprint in a major chemical cluster and expands local supply for nitrogen, oxygen, and argon.

  • October 29, 2024

Linde started up its new on-site air separation unit, supplying oxygen and nitrogen to PT Freeport Indonesia's Manyar copper smelter. Linde reported an investment of about USD120 million in the ASU, which it described as the largest in Indonesia and its largest ASU in Southeast Asia. The facility will supply process gases to the smelter and provide liquefied industrial gases to bulk customers across East Java.

Asia Pacific Industrial Gases Market Scope:

 Category  Segments
By Gas 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 Gas Supply (Merchant Sales), Bulk or Liquid Gas Supply, Onsite Generation or Pipeline Supply, Gas-as-a-Service Model),
By End-User Industry Oil and Gas, Petrochemicals and Chemicals, Power and Energy, Mining, Steelmaking, Metals, Healthcare, Food and Beverages, Fertilizers, Others), and others

Asia Pacific Industrial Gases Market Drivers:

Industrial Densification Around Downstream Hydrogen Hubs

Rapid clustering of ammonia, methanol, and refining complexes in Indonesia, Malaysia, and Singapore is catalyzing on-site industrial gas demand. For instance, Southeast Asia’s hydrogen demand reached 4 Mt in 2024, with Indonesia accounting for over one third, driving captive hydrogen, nitrogen, and oxygen infrastructure needs. These clusters prioritize local low-carbon production to reduce import dependence and logistical cost, creating long-term contracts for industrial gas suppliers. Vertical integration strategies by chemical majors further tighten supply lock-ins, making industrial gas provision a strategic enabler of regional value chain localization. The growing cross-border industrial corridors under the ASEAN Power Grid and regional hydrogen partnerships are expected to further intensify long-term gas infrastructure investments.

Electrolyzer Scale Economies Enabling Merchant Hydrogen Trade

Asia Pacific’s growing electrolyzer manufacturing base is rapidly reducing green hydrogen capital cost curves. For instance, the global electrolyzer market value is projected to grow from USD3.5 billion in 2024 to USD14.7 billion by 2034, implying steep cost declines. As producers in China and Korea scale, merchant hydrogen trade routes open across regional corridors, catalyzing demand for high-purity compression, storage, and grid blending gases (such as argon, helium, nitrogen). This new merchant hydrogen-led demand layer overlays and augments legacy industrial gas markets, especially in export-oriented corridors. The rapid build-out of electrolyzer parks in Inner Mongolia and Shandong is already spurring new procurement contracts for oxygen and nitrogen supply.

  1. Market Segmentation
  2. Introduction
    1. Product Definition
    2. Research Process
    3. Assumptions
  3. Executive Summary
  4. Asia Pacific Industrial Gases Market Policies, Regulations, and Product Standards
  5. Asia Pacific Industrial Gases Market Supply Chain Analysis
  6. Asia Pacific Industrial Gases Market Trends & Developments
  7. Asia Pacific Industrial Gases Market Dynamics
    1. Growth Drivers
    2. Challenges
  8. Asia Pacific Industrial Gases Market Hotspot & Opportunities
  9. Asia Pacific Industrial Gases Market Outlook, 2026–2032
    1. Market Size & Outlook
      1. By Revenue (USD Million)
        1. By Gas
          1. Nitrogen – Market Size & Forecast 2020-2032, USD Million
          2. Oxygen – Market Size & Forecast 2020-2032, USD Million
          3. Carbon dioxide – Market Size & Forecast 2020-2032, USD Million
          4. Argon – Market Size & Forecast 2020-2032, USD Million
          5. Hydrogen – Market Size & Forecast 2020-2032, USD Million
          6. Helium – Market Size & Forecast 2020-2032, USD Million
          7. Acetylene – Market Size & Forecast 2020-2032, USD Million
          8. Others – Market Size & Forecast 2020-2032, USD Million
        2. By Application
          1. Combustion and process oxygen – Market Size & Forecast 2020-2032, USD Million
          2. Welding and metal fabrication – Market Size & Forecast 2020-2032, USD Million
          3. Inerting blanketing and heat treating – Market Size & Forecast 2020-2032, USD Million
          4. Cryogenics and liquefaction – Market Size & Forecast 2020-2032, USD Million
          5. Chemical synthesis and hydrogenation – Market Size & Forecast 2020-2032, USD Million
          6. Purging and purifications – Market Size & Forecast 2020-2032, USD Million
          7. Analytical and calibration – Market Size & Forecast 2020-2032, USD Million
        3. By Supply Mode
          1. Packaged Gas Supply (Merchant Sales) – Market Size & Forecast 2020-2032, USD Million
          2. Bulk or Liquid Gas Supply – Market Size & Forecast 2020-2032, USD Million
          3. Onsite Generation or Pipeline Supply – Market Size & Forecast 2020-2032, USD Million
          4. Gas-as-a-Service Model – Market Size & Forecast 2020-2032, USD Million
        4. By End-User Industry
          1. Oil and Gas – Market Size & Forecast 2020-2032, USD Million
          2. Petrochemicals and Chemicals – Market Size & Forecast 2020-2032, USD Million
          3. Power and Energy – Market Size & Forecast 2020-2032, USD Million
          4. Mining, Steelmaking, Metals – Market Size & Forecast 2020-2032, USD Million
          5. Healthcare – Market Size & Forecast 2020-2032, USD Million
          6. Food and Beverages – Market Size & Forecast 2020-2032, USD Million
          7. Fertilizers – Market Size & Forecast 2020-2032, USD Million
          8. Others – Market Size & Forecast 2020-2032, USD Million
        5. By Region
          1. India
          2. China
          3. Japan
          4. South Korea
          5. Australia
          6. New Zealand
          7. Taiwan
          8. Rest of Asia Pacific
        6. By Company
          1. Company Revenue Shares
          2. Competitor Characteristics
  10. India Industrial Gases Market Outlook, 2026–2032
    1. Market Size & Outlook
      1. By Revenue (USD Million)
      2. By Volume Sold (Million Cubic Meters)
    2. Market Share & Outlook
      1. By Gas – Market Size & Forecast 2020-2032, USD Million
      2. By Application – Market Size & Forecast 2020-2032, USD Million
      3. By Supply Mode – Market Size & Forecast 2020-2032, USD Million
      4. By End-User Industry – Market Size & Forecast 2020-2032, USD Million
  11. China Industrial Gases Market Outlook, 2026–2032
    1. Market Size & Outlook
      1. By Revenue (USD Million)
      2. By Volume Sold (Million Cubic Meters)
    2. Market Share & Outlook
      1. By Gas – Market Size & Forecast 2020-2032, USD Million
      2. By Application – Market Size & Forecast 2020-2032, USD Million
      3. By Supply Mode – Market Size & Forecast 2020-2032, USD Million
      4. By End-User Industry – Market Size & Forecast 2020-2032, USD Million
  12. Japan Industrial Gases Market Outlook, 2026–2032
    1. Market Size & Outlook
      1. By Revenue (USD Million)
      2. By Volume Sold (Million Cubic Meters)
    2. Market Share & Outlook
      1. By Gas – Market Size & Forecast 2020-2032, USD Million
      2. By Application – Market Size & Forecast 2020-2032, USD Million
      3. By Supply Mode – Market Size & Forecast 2020-2032, USD Million
      4. By End-User Industry – Market Size & Forecast 2020-2032, USD Million
  13. South Korea Industrial Gases Market Outlook, 2026–2032
    1. Market Size & Outlook
      1. By Revenue (USD Million)
      2. By Volume Sold (Million Cubic Meters)
    2. Market Share & Outlook
      1. By Gas – Market Size & Forecast 2020-2032, USD Million
      2. By Application – Market Size & Forecast 2020-2032, USD Million
      3. By Supply Mode – Market Size & Forecast 2020-2032, USD Million
      4. By End-User Industry – Market Size & Forecast 2020-2032, USD Million
  14. Australia Industrial Gases Market Outlook, 2026–2032
    1. Market Size & Outlook
      1. By Revenue (USD Million)
      2. By Volume Sold (Million Cubic Meters)
    2. Market Share & Outlook
      1. By Gas – Market Size & Forecast 2020-2032, USD Million
      2. By Application – Market Size & Forecast 2020-2032, USD Million
      3. By Supply Mode – Market Size & Forecast 2020-2032, USD Million
      4. By End-User Industry – Market Size & Forecast 2020-2032, USD Million
  15. New Zealand Industrial Gases Market Outlook, 2026–2032
    1. Market Size & Outlook
      1. By Revenue (USD Million)
      2. By Volume Sold (Million Cubic Meters)
    2. Market Share & Outlook
      1. By Gas – Market Size & Forecast 2020-2032, USD Million
      2. By Application – Market Size & Forecast 2020-2032, USD Million
      3. By Supply Mode – Market Size & Forecast 2020-2032, USD Million
      4. By End-User Industry – Market Size & Forecast 2020-2032, USD Million
  16. Taiwan Industrial Gases Market Outlook, 2026–2032
    1. Market Size & Outlook
      1. By Revenue (USD Million)
      2. By Volume Sold (Million Cubic Meters)
    2. Market Share & Outlook
      1. By Gas – Market Size & Forecast 2020-2032, USD Million
      2. By Application – Market Size & Forecast 2020-2032, USD Million
      3. By Supply Mode – Market Size & Forecast 2020-2032, USD Million
      4. By End-User Industry – Market Size & Forecast 2020-2032, USD Million
  17. Asia Pacific Industrial Gases Market Key Strategic Imperatives for Success & Growth
  18. Competition Outlook
    1. Company Profiles
      1. Air Liquide
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      2. Air Products and Chemicals Inc.
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      3. Asia Technical Gas Co Pte Ltd
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      4. BASF
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      5. Bhuruka Gases Ltd
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      6. Goyal MG Gases Pvt Ltd
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      7. Hangzhou Oxygen Plant Group Co Ltd (Hangyang)
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      8. Iwatani Corporation
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      9. Linde plc
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      10. Yingde Gases Shanghai
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      11. Others
  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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