Global Industrial Gases for Plastic & Rubber Market Share Likely to Grow At a CAGR of 4.5% By 2030

Posted on March 7, 2023

According to Custom Market Insights (CMI), The Global Industrial For Plastic and Rubber Market Size was valued at USD 6.4 billion in 2021 and is estimated to reach USD 9.3 billion by the end of 2030 at a CAGR of approximately 4.5% during the forecast period 2022-2030.

Plastic and rubber are used across a wide range of industries, and both are created using the same kind of polymer. However, plastic is more durable and hard, while rubber is more elastic. Rubber can be stretched and returned to its original shape because it is essentially an elastomer.

Rubber’s degree of flexibility might differ depending on the product. On the other hand, plastic is a more durable and hard material used to create many products, such as everyday items like boxes, polybags, and bottles. The additives are the most important components in producing plastic and rubber goods. Some of the available options are UV absorbers, coloring agents, stabilizers, and other additives.

Browse the full “Industrial Gases for Plastic & Rubber Market Size, Trends and Insights By Type (Carbon dioxide , Carbon monoxide, Nitrogen , Others), By Process (Injection molding, Extrusion, Foaming, Blow moulding), By Application (Plastic industry, Rubber industry), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2022–2030” report at ReportURL

Magnesium Phosphide Fumigation Market Dynamics

Drivers

The rise in economies, along with the rapid production of plastic and rubber, drives the market growth

Rapid economic growth is key in expanding the industrial demand for rubber and plastics. Numerous sectors frequently employ these two compounds to create economically valued products and are favored globally. Such elements fuel the market expansion for industrial gases.

 

The increase in popularity of plastic and rubber across various industries fuel the industrial oil market growth

The demand for rubber and plastics has grown due to the expansion of numerous industries, including those in the food and beverage, healthcare, construction, electrical and electronics, automobiles, and manufacturing sectors. This demand fuels the expansion of the industrial gas market for plastic and rubber.

Restraints 

The fluctuating demand and the advancement in alternative technologies can hamper the market growth for industrial gases regarding plastics and rubber production. Apart from that, the increase in environmental concern associated with plastic usage and the imposed ban on plastics from the government can hamper the market growth in the coming years. The emergence of alternative plastic products like silicon in the market can hamper market growth.

Opportunities

The rise in concern over environmental pressures has provided opportunities for the generation of better and lightweight plastic and rubber products, which will likely enhance the market growth for industrial gases in the upcoming years. Along with that, the increasingly strict regulatory concern for the usage of CFC has increased worldwide, which creates immense opportunities for industrial gases to be widely used for plastics and rubber products.

Challenges 

The fluctuation in cost associated with the processing and producing raw materials to make plastic and rubber-based products can create numerous challenges for market growth. Apart from that, some of the risks involved in the manufacturing process include pressure, anoxia, burns, fire, toxicity, etc., which can challenge the market growth over the coming years. Industrial gases should be handled properly with immense care; otherwise, their leakage can lead to insufficient oxygen, respiratory problems, and other serious disorders; it can even lead to serious conditions like death. This can be challenging for the market growth over the coming years.

Market Highlights 

Based on gas type, inert gas commanded the largest market share in the industrial gases for plastic and rubber market in 2021. Nitrogen’s inert properties make it ideal for chilling and freezing as a liquid and gas.

Based on the process, the molding segment dominates the present market. The plastic materials are injected into a mold using injection molding and then heated until they are molten before being cooled and solidified. The method is useful for mass production with intricate shapes and plays a vital role in plastic processing.

In 2021, the plastics industry had the biggest market share by application. In the upcoming years, it is expected that the increased use of plastic in the automotive, electrical & electronics, and construction industries is likely to spur market growth.

Regional Snapshots

The Asian-Pacific region dominates the industrial gases for the plastic and rubber market, and it is anticipated that it will grow at a CAGR of 5.9% over the projected period. This can be ascribed to the development of more emerging economies and the rise in demand across nations like China and India that control the regional market for industrial gases, which are extensively employed in producing plastic and rubber goods. As nitrogen is the most popular gas used in tires of various automobiles for increased performance, the market for industrial gas is projected to grow alongside the development of the automotive industry.

Report Scope

Feature of the Report Details
Market Size in 2021 USD 6.4 Billion
Projected Market Size in 2030 USD 9.3 Billion
CAGR Growth Rate 4.5% CAGR
Base Year 2021
Forecast Period 2022-2030
Prominent Players Praxair, Airgas, The Linde Group, Air Liquide, Air Products and Chemicals, Universal Industrial Gases, Messer Group, Taiyo Nippon Sanso, Novomer, Yingde Gases Group , and Others
Key Segment By Type, Process, Application, and Region
Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options Request tailored purchasing options to fulfil your requirements for research.

Key Players

  • Praxair
  • Airgas
  • The Linde Group
  • Air Liquide
  • Air Products and Chemicals
  • Universal Industrial Gases
  • Messer Group
  • Taiyo Nippon Sanso
  • Novomer
  • Yingde Gases Group

Recent developments

  • Airgas, an Air Liquide firm, announced in March 2019 that it had completed the acquisition of TA Corporate Holdings, Inc., an independent distributor of gases and welding supplies operating across various areas of the US.
  • In March 2019, Messer, an expert in industrial gases, announced plans to purchase the majority of Linde AG’s North American operations and the South American operations of Linde and Praxair.

Market segments covered in the report

By Type

  • Carbon dioxide
  • Carbon monoxide
  • Nitrogen
  • Others

By Process

  • Injection molding
  • Extrusion
  • Foaming
  • Blow moulding

By Application

  • Plastic industry
  • Rubber industry

On the basis of Geography

North America

  • The U.S.
  • Canada
  • Mexico

Europe

  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific

The Middle East & Africa

  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa

Latin America

  • Brazil
  • Argentina
  • Rest of Latin America

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