Industrial gases market for metals, metal fabrication to reach $47.06 billion by 2020

India-based MarketsandMarkets has published "Industrial Gases—Metals & Metal Fabrication Market by Type (Oxygen, Nitrogen, Hydrogen, Others), Function (Metal Manufacturing, Fabrication), Storage (Cylinder, Merchant Liquid, Tonnage), End-use (Metal, Automotive, Aerospace, Others) - Forecast to 2020.” The report projects the global market for these products to grow at a CAGR of 6.07 percent from 2015 to reach $47.06 billion by 2020.

In 2014 the Asia-Pacific region accounted for about 43.4 percent of the total market share, followed by Europe and North America. Rapid industrialization in emerging economies such as China and India, as well as growth in the metal and manufacturing industry and increase in production in industries such as automotive and heavy machinery, will support the growth of the market over the forecast period 2015 to 2020. However, environmental regulations on the industry may limit the growth of the market.

The cylinder and packaged distribution segment accounted for the largest share of 44.80 percent of the total industrial gases in the metals and metal fabrication market in 2014. It is projected to grow at a CAGR of 6.04 percent from 2015 to 2020 as a result of factors such as inexpensiveness, easy transportation, stringent safety protocols, and compatibility with all types of industrial gases.

End use in this market is segmented into metal industry, automotive, aerospace and defense, rail and shipping, and heavy machinery. Metal industry accounted for the largest share (34.27 percent) of the overall industrial gases in metals and metal fabrication market in 2014. It is projected to grow at a CAGR of 7.49 percent to reach $17.49 billion during the forecast period.

For more information, visit www.marketsandmarkets.com/market-reports/industrial-gases-metal-fabrication-market- 79589543.html.