Views: 0 Author: Site Editor Publish Time: 2024-05-09 Origin: Site
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The recovery of the industrial gas business from 2012 through 2014 was strong, about six percent per year, driven by price and volume. The bright spots in the economy during this period included the manufacturing sector, a significant driver for the industrial gas industry.
Energy, manufacturing, chemicals, petrochemicals, and food and beverage are driving volume and the push toward providing increasingly sophisticated gases and applications both within and outside the scope of the traditional industrial gas business. The US is producing shale oil and gas on a large scale using fracturing with energized fluids, which is driving demand for carbon dioxide and nitrogen. The automotive industry is driving steel production, running at over 98 million tons per year in 2014, and is a big user of ASU oxygen. Also, biotech is a fast growing segment for specialty gases.
Going forward, we will be looking at the performance of industrial gas companies and independent gas distributors over the next few years, focusing on industry trends.
