Saudi Arabia Industrial Gases Market By Product Type, By Mode of Distribution and Forecast 2027
Posted by arshiyashaikh on October 7th, 2022
Saudi Arabia Industrial Gases Market was valued at USD2,054.18 million in 2021 and is anticipated to project robust growth in the forecast period with a CAGR of 5.40%, owing to a rapidly increasing investment in the mega projects in the kingdom of Saudi Arabia.
Industrial gases are comprised of elements, molecular compounds, or mixtures. The most common industrial gases are oxygen, nitrogen, carbon dioxide, hydrogen, and noble gases such as argon, neon, helium, etc. Industrial gases are used for a wide spectrum of industries, which include oil and gas, chemicals, petrochemicals, metals, fertilizers, nuclear power, electronics, and aerospace. Technology like air separation plants refines air in a separation process, allowing the bulk manufacturing of many gases.
Rise in Investments in Mega Projects Driving Market Growth
The Government of Saudi Arabia is investing in the megaprojects across the kingdom. The submission of industrial gases is very much widespread in the construction business. Saudi Arabia’s industrial gas situation will continue to grow in support, not only of the energy sector, but also in the emerging non-energy sector including the industrial, gas and chemical sectors. Mega Projects like Al Jubail Petrochemical Complex are driving the industrial gases market's overall growth in Saudi Arabia.
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