Industrial gases are often used as process enhancers due to their physical and chemical properties. Crude oil production and exports are the largest contributors to the GDP of Saudi Arabia. The government has formulated plans to become second largest exporter of refined oil products in the world by 2017, and has opened the sector for private investments. With growing developments in petrochemical and refinery infrastructure, the demand for industrial gases is anticipated to increase at a robust pace during 2016 – 2021.
According to TechSci Research report, “Saudi Arabia Industrial Gases Market By Type, By End User, Competition Forecast and Opportunities, 2011 – 2021”, the industrial gases market size in Saudi Arabia is anticipated to cross US$ 1.6 billion by 2021. Growing demand from various end user industries such as refinery, metallurgy, food & beverage, paper & pulp, etc., coupled with implementation of favourable government policies are projected to increase demand for industrial gases in Saudi Arabia during 2016 – 2021. The leadings players operating in the market includes National Industrial Gases Company, Air Liquide, Linde, Praxair and many more. Furthermore, huge investments in Saudi Arabia for capacity additions at existing end user facilities coupled with launch of new projects is anticipated to further boost the Saudi Arabia industrial gases market through 2021. “Saudi Arabia Industrial Gases Market By Type, By End User, Competition Forecast