INDUSTRIES

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MARKETSGlobalindustrialgasindustryCHAPTER

01OverviewMarketvalueofindustrialgasesworldwidein2021withaforecastfor2028(inbillionU.S.dollars)Globalindustrialgasesmarketvalue2021-2028140120129.110080604020093.720212027*4Description:Thetotalglobalmarketvalueofindustrialgasesamountedtosome93.7billionU.S.dollarsin2021.Itisforecastthatthemarketvaluewillincreaseto129.1billionU.S.dollarsworldwidein2027.ReadmoreNote(s):Worldwide;2021;*ForecastbasedonaCAGRof5.4percentfrom2022-2027.ReadmoreSource(s):ResearchandMarketsIndustrialgasesmergerandacquisitiondealvolumeworldwidefrom2010to2022Globalindustrialgasestransactionvolume2010-20221816161412108151414141312121110998642020102011201220132014201520162017201820192020202120225/statistics/978360/industrial-gases-deal-volume-worldwideIn2022,therewasatotalof12mergersandacquisitionsintheindustrialgasessectorworldwide.Thefigurewentdownfrom14mergersandacquisitionsoneyearearlier.Thelowestamountoftransactionswithinthisindustrywasreportedin2020.

ReadmoreNote(s):Worldwide;2010to2022Source(s):Deloitte;S&PCapitalIQCHAPTER

02CompaniesLeadingindustrialgascompaniesworldwidein2022,basedonchemicalsales(inbillionU.S.dollars)Industrialgasesleadingcompaniesworldwide20223531.0330.63025201510512.70LindeAirLiquideAirProducts7Description:Theworld`slargestindustrialgasvendorin2022wasAirLiquide,withchemicalsalesexceeding31.03billionU.S.dollars.ThesecondplacewenttoAirLinde,whichhadsalesofaround30.6billionU.S.dollarsfromindustrialgases.

ReadmoreNote(s):WorldwideSource(s):AirLiquide;AirProductsandChemicals;AirProductsandChemicals;C&ENSalesofLindeplcfrom2014to2022(inmillionU.S.dollars)Lindeplc'ssales2014-202240,00035,00033,39430,79330,00025,00020,00015,00010,0005,000028,22827,24314,8362018*12,273201411,358201710,710201510,469201620192020202120228Description:Lindeplc'ssalesamountedtosome33.4billionU.S.dollarsin2022.LindeplcwasformedonOctober31,2018throughofamergerofequalsbetweenLindeAGandPraxairInc.Lindeplcisthelargestindustrialgascompanyintheworldasaresultofthemerger.ReadmoreNote(s):Worldwide;2014to2022;*2018figuresreflecttheresultsofPraxairfortheentirefiscalyearandtheresultsofLindeAGfortheperiodoftimebeginningafterOctober31,2018(themergerdate),includingtheimpactsofpurchase[...]

ReadmoreSource(s):LindeplcTotalrevenueofAirLiquidefrom2000to2022(inmillioneuros)AirLiquide'stotalrevenue2000-202235,00030,00025,00020,00015,00010,0005,00002000

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20229Description:In2022,AirLiquidegeneratedatotalrevenueofaround29.9billioneuros.AirLiquideS.A.isaleadingglobalchemicalcompany,specializinginindustrialgasesforvariousindustries.ThecompanyisheadquarteredinParis,France.

ReadmoreNote(s):Worldwide;2000to2022Source(s):AirLiquideAirProductsandChemicals'revenuefrom2010to2022(inmillionU.S.dollars)AirProductsandChemicals'sales2010-202214,00012,00012,69910,3239,6749,61210,0008,0006,0004,0002,00008,9308,9198,8568,6168,3138,3848,1887,8247,504201020112012201320142015201620172018201920202021202210Description:ThisstatisticshowstherevenuesofAirProductsandChemicalsfrom2010to2022.AirProductsandChemicals,Inc.isaUnitedStates-basedinternationalcorporationwhosemajorbusinessissellinggasesandchemicalsforindustrialuses.In2022,thecompanygeneratedapproximately12.7billionU.S.dollarsofrevenue.ReadmoreNote(s):Worldwide;2010to2022Source(s):AirProductsandChemicalsCHAPTER

03OxygenMarketvalueoftheoxygenindustryworldwidein2022,withaforecastfor2028(inbillionU.S.dollars)Globaloxygenindustrymarketvalue2022-202880706071.4647.235040302010020222028*12Description:In2022,theglobaloxygenindustrywasvaluedatapproximately47billionU.S.dollars.Itispredictedthatby2028,theindustry'smarketvaluewillincreasetoover71billionU.S.dollars.Theoxygenindustryplaysacrucialroleinvariousfields,includingmedicalandindustrialapplications.ReadmoreNote(s):Worldwide;2022;*ForecastbasedonaCAGRof7.14percentbetween2023to2028.ReadmoreSource(s):IndustryResearchBizLeadingimportersofoxygenworldwidein2021,bycountry(inmillionU.S.dollars)Oxygen:leadingimportingcountriesworldwide2021ImportsinmillionU.S.dollars0510152025303540NetherlandsGermanyFrance33.9722.5313.98AlbaniaJordanSlovakiaGreeceSpain10.269.18.88.657.22Russia5.165.1HondurasCzechiaIndia4.954.564.26Belgium13Description:TheNetherlandsandGermanywereamongtheleadingimportersofoxygenin2021,withtheNetherlandsimportingover33.97millionU.S.dollarsworthofoxygenandGermanyimportingalmost22.53millionU.S.dollarsworthofoxygen.Oxygenisusedinawiderangeofapplications,includingmedicalandindustrialprocessessuchaswelding,cutting,andrefining.ReadmoreNote(s):Worldwide;2021Source(s):Centred'EtudesProspectivesetd'InformationsInternationales;TheObservatoryofEconomicComplexityLeadingexportersofoxygenworldwidein2021,bycountry(inmillionU.S.dollars)Oxygen:leadingexportingcountriesworldwide2021ExportsinmillionU.S.dollars20

250510153035404550BelgiumFrance43.521.33UnitedStatesItaly13.4413.29KuwaitGermanyAustria10.499.518.718.4SpainSingaporeTurkeyGuatemalaPoland8.217.927.877.5Czechia6.614Description:In2021,Belgiumwastheleadingexporterofoxygenworldwide,exportingover43.5millionU.S.dollarsworthofoxygen.Oxygeniswidelyusedinvariousapplicationssuchasmedicaltreatmentsforrespiratoryissues,industrialprocesseslikewelding,cutting,andrefining,aerospaceindustry,andchemicalproduction.ReadmoreNote(s):Worldwide;2021Source(s):Centred'EtudesProspectivesetd'InformationsInternationales;TheObservatoryofEconomicComplexityCHAPTER

04NitrogenMarketvalueofindustrialnitrogenworldwidein2020and2028(inbillionU.S.dollars)Globalindustrialnitrogenmarketvalue2020-202830252027.7217.415105020202028*16Description:Thisstatisticshowsthemarketvalueofindustrialnitrogenworldwidein2020,andaforecastfor2028.In2028,theglobalmarketvalueofindustrialnitrogenisexpectedtoamounttoapproximately27.7billionU.S.dollars.ReadmoreNote(s):Worldwide;2020;*Forecastedbasedonacompoundannualgrowthrateof6.24percentbetween2021and2028.

ReadmoreSource(s):VerifiedMarketResearchLeadingexportersofnitrogenworldwidein2021,bycountry(inmillionU.S.dollars)Nitrogen:leadingexportingcountriesworldwide2021ExportsinmillionU.S.dollars200510152530354045BelgiumUnitedStatesGermanyFrance41.0521.0821.0516.02Austria12.64NetherlandsCzechia98.498.27PolandSwitzerlandSingaporeItaly7.116.145.09ChinaUnitedKingdom4.594.4317Description:In2021,Belgiumwasthecountrythatexportedthemostnitrogenworldwide,withexportstotaling41millionU.S.dollars.ThiswasfollowedbytheUnitedStates,Germany,andFrancewithexportsof21.08millionU.S.dollars,21.05millionU.S.dollars,and16.02millionU.S.dollars,respectively.Nitrogeniswidelyusedasanindustrialgasduetoitsinertpropertiesandabundanceintheatmosphere.Itiscommonlyusedinvariousindustriessuchasfoodpackaging,electronics,andmetal[...]

ReadmoreNote(s):Worldwide;2021Source(s):Centred'EtudesProspectivesetd'InformationsInternationales;TheObservatoryofEconomicComplexityLeadingimportersofnitrogenworldwidein2021,bycountry(inmillionU.S.dollars)Nitrogen:leadingimportingcountriesworldwide2021ImportsinmillionU.S.dollars20

250510153035404550NetherlandsGermanyFrance44.3918.3410.33LuxembourgBelgiumCanada8.667.817.697.68SlovakiaCzechia5.655.565.515.455.43SpainSingaporeHungarySwitzerlandMexico4.7618Description:In2021,theNetherlandswasthecountrythatimportedthemostnitrogenworldwide,withimportstotaling44.4millionU.S.dollars.ThiswasfollowedbyGermany,France,Luxembourg,andBelgiumwithimportsof18.3millionU.S.dollars,10.3millionU.S.dollars,8.66millionU.S.dollars,and7.81millionU.S.dollars,respectively.Nitrogeniswidelyusedasanindustrialgasduetoitsinertpropertiesandabundanceintheatmosphere.Itiscommonlyusedinvariousindustriessuchasfood[...]

ReadmoreNote(s):Worldwide;2021Source(s):Centred'EtudesProspectivesetd'InformationsInternationales;TheObservatoryofEconomicComplexityCHAPTER

05HeliumMarketvalueoftheheliumindustryworldwidein2022and2023,withaforecastto2027(inbillionU.S.dollars)Globalheliumindustrymarketvalue2022-2027766.485.035432104.4520222023*2027**20Description:Asof2022,theglobalheliumindustryisprojectedtobewortharound6.48billionU.S.dollarsby2027,withanexpectedincreasefrom4.45billionU.S.dollarsin2022to5.03billionU.S.dollarsin2023.Heliumisaversatilegasthatfindsitsapplicationsinvariousfieldssuchasmedicine,scientificresearch,refrigeration,aircraftfuel,andnuclearreactors.ReadmoreNote(s):Worldwide;2022;*Estimate.**ForecastbasedonaCAGRof6.6percentoverthestudyperiod2023-2027.

ReadmoreSource(s):BRC;ResearchandMarketsProductionofheliumworldwidein2022,bycountry(inmillioncubicmeters)Globalheliumproduction2022,bycountryProductioninmillioncubicmeters40

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80020100120140160180Qatar6060UnitedStates(extractedfromnaturalgas)UnitedStates(fromCliffsideField)15AlgeriaRussia95AustraliaCanada42China1Poland1Total(rounded)16021Description:TheUnitedStatesisthelargestheliumproducerworldwide.In2022,theproductionofheliumintheU.S.stoodatapproximately75millioncubicmeters,takingintoaccountheliumextractedfromnaturalgasandheliumproductionfromtheCliffsidegasfieldinTexas.Heliumisoneofthesixnaturallyoccurringnoblegases.Itisanodorless,colorless,tastelessmonoatomicgasthatpresentsaverylowchemicalreactivity.

ReadmoreNote(s):Worldwide;2022Source(s):USGeologicalSurveyReservesofheliumworldwidein2022,bycountry(inmillioncubicmeters)Globalheliumreserves2022,bycountryReservesinmillioncubicmeters01,0002,0003,0004,0005,0006,0007,0008,0009,000UnitedStates**Algeria8,5611,800Russia1,700Poland2422Description:Asof2022,thereservesofheliumintheUnitedStatesamountedtomorethan8.5billioncubicmeters,makingitthecountrywiththelargestreservesofheliumglobally.Algeriawasthesecondleadingcountryintermsofheliumreserves,withreservestotaling1,800cubicmeters.ReadmoreNote(s):Worldwide;2022;*Figurenotavailable.**FiguresincludeextractionfromnaturalgasfieldsaswellasreserveslocatedattheCliffsideFieldheliumstoragefacilityinTexas.Allfiguresareestimated.ReadmoreSource(s):USGeologicalSurveyCHAPTER

06HydrogenMarketvalueofthehydrogenindustryworldwidein2022,withaforecastfor2032(inbillionU.S.dollars)Globalindustrialhydrogenmarketvalue2022-203235030025031720015010050183020222032*24Description:Theglobalhydrogenindustrywasvaluedat183billionU.S.dollarsin2022andisprojectedtoincreaseto317billionU.S.dollarsby2032.Thehydrogenindustryisrapidlyexpandingduetoitsversatileapplicationsinvarioussectors,includingenergy,transportation,andmanufacturing.ReadmoreNote(s):Worldwide;2022;*ForecastbasedonaCAGRof5.6percentbetween2023to2032.ReadmoreSource(s):GlobalMarketInsightsHydrogenenergystoragemarketsizeworldwidein2023,withaforecastuntil2027(inbillionU.S.dollars)Hydrogenenergystoragemarketvalueworldwide2023-20272520.5319.262018.0716.9515.91510502023*2024**20252026202725Description:Theglobalhydrogenenergystoragemarketwasestimatedat15.9billionU.S.dollarsin2023.Thisfigureisprojectedtogrowatacompoundannualgrowthrate(CAGR)of6.6percentbetween2023and2027,reachingroughly20.5billionU.S.dollarsinthelatteryear.ReadmoreNote(s):Worldwide;2023;*Estimate**Startingfromthisyear,figuresareforecasts.Source(s):ResearchandMarkets;Leadingimportersofhydrogenworldwidein2021,bycountry(inmillionU.S.dollars)Hydrogen:leadingimportingcountriesworldwide2021ImportsinmillionU.S.dollars1,000

1,50005002,0002,5003,000ChinaJapan2,770.021,682.8GermanySouthKoreaUnitedStatesTaiwan1,081.55905.8685.8647.83NetherlandsIndia547443.98379.14333.14MalaysiaSingaporeFrance320.92297.55294.12ItalyUnitedKingdom26Description:In2021,Chinawasthecountrythatimportedthemosthydrogenworldwide,withexportstotaling2.77billionU.S.dollars.Hydrogenisusedforavarietyofpurposes,includingasafuelforvehiclesandpowergeneration,afeedstockforchemicalproduction,anindustrialgasforweldingandmetalproduction,andacoolantinpowerplantsandotherapplications.ReadmoreNote(s):Worldwide;2021Source(s):Centred'EtudesProspectivesetd'InformationsInternationales;TheObservatoryofEconomicComplexityLeadingexportersofhydrogenworldwidein2021,bycountry(inmillionU.S.dollars)Hydrogen:leadingexportingcountriesworldwide2021ExportsinmillionU.S.dollars1,50005001,0002,0002,5003,000ChinaGermanyUnitedStatesMalaysiaQatar2,729.441,811.191,701.5801.73687.37674.28JapanNorway589.32Brazil443.8France388.99388.35360.38317.06223.76VietnamNetherlandsTaiwanBelgium27Description:In2021,Chinawasthecountrythatexportedthemosthydrogenworldwide,withexportstotaling2.73billionU.S.dollars.Hydrogenisusedforavarietyofpurposes,includingasafuelforvehiclesandpowergeneration,afeedstockforchemicalproduction,anindustrialgasforweldingandmetalproduction,andacoolantinpowerplantsandotherapplications.ReadmoreNote(s):Worldwide;2021Source(s):Centred'EtudesProspectivesetd'InformationsInternationales;TheObservatoryofEconomicComplexityMarketvalueofgreenhydrogenworldwidein2021and2031(inbillionU.S.dollars)Globalgreenhydrogenmarketvalue2021&203116014012010080135.43604020228Description:In2021,theglobalmarketvalueforgreenhydrogenstoodataround2.14billionU.S.dollars.By2031,thisfigureisforecasttoincreasetoover135billionU.S.dollars,basedonaCAGRof51.6percentbetweenbothyears.Thiswouldrepresentagrowthofmorethan6,000percent.ReadmoreNote(s):Worldwide;2021;*Forecastbasedonacompoundannualgrowthrate(CAGR)of51.6percentbetween2021and2031.ReadmoreSource(s):Recharge;TransparencyMarketResearchCHAPTER

07CarbonDioxideMarketvalueofcarbondioxidegasworldwidein2022withaforecastfor2028(inbillionU.S.dollars)Globalcarbondioxidegasmarketvalue2022-202818161415.461210.27108642020222030*30Description:Themarketvalueofcarbondioxideamountedtoapproximately10.27billionU.S.dollarsin2022.In2030,theglobalmarketvalueofcarbondioxideisforecasttoreach15.49billionU.S.dollars.

ReadmoreNote(s):Worldwide;2022;*Forecastbasedonacompoundannualgrowthrateof5.2percentbetween2023-2028.ReadmoreSource(s):GrandViewResearchLeadingexportersofcarbondioxideworldwidein2021,bycountry(inmillionU.S.dollars)Carbondioxide:leadingexportingcountriesworldwide2021ExportsinmillionU.S.dollars600204080100120NetherlandsIsrael109.9955.37Estonia33UnitedStatesSwedenGermanyChina32.7427.4326.6326.47Austria22.62Taiwan17.3917.05BelgiumHungarySpain15.4911.4110.64CostaRica31Description:In2021,theNetherlandsandIsraelemergedasmajorCO2exporters,withtheNetherlandsexportingCO2worthover109.99millionU.S.dollarsandIsraelexportingCO2worthalmost55.37millionU.S.dollars.CO2hasdiverseapplicationssuchascarbonatingbeverages,functioningasacoolant,andservingasarawmaterialfortheproductionofchemicalsandfuels.ReadmoreNote(s):Worldwide;2021Source(s):Centred'EtudesProspectivesetd'InformationsInternationales;TheObservatoryofEconomicComplexityLeadingimportersofcarbondioxideworldwidein2021,bycountry(inmillionU.S.dollars)Carbondioxide:leadingimportingcountriesworldwide2021ImportsinmillionU.S.dollars300102040506070FranceGermanySweden58.5243.8836.59UnitedStatesEstoniaBelgiumNetherlandsMexico30.7120.4919.7518.1917.5715.9915.6615.1114.5614.49ItalyUnitedKingdomDenmarkCzechiaJapan32Description:FranceandGermanywereamongtheleadingimportersofcarbondioxide(CO2)in2021,withFranceimportingover58.52millionU.S.dollarsworthofCO2andGermanyimportingalmost43.88millionU.S.dollarsworthofCO2.CO2isusedinawiderangeofapplications,includingcarbonationofbeverages,coolingagents,andasafeedstockfortheproductionofchemicalsandfuels.ReadmoreNote(s):Worldwide;2021Source(s):Centred'EtudesProspectivesetd'InformationsInternationales;TheObservatoryofEconomicComplexityMarketsizeofcarbondioxideintheUnitedStatesfrom2021to2022withaforecastto2032(inmillionU.S.dollars)U.S.carbondioxidemarketvalue2021-2032800700600732.9500381.44003002001000359.120212022*2023**33Description:ThemarketsizeofcarbondioxideintheUnitedStatesin2022wasestimatedtohavereachedavalueof381.4millionU.S.dollars.CarbondioxideisforecasttohaveaUnitedStatesmarketvalueamountingtomorethan732.9millionU.S.dollarsin2032.Carbondioxideisusedbythefoodandbeverageindustrytoproducecarbonatedbeverages,forexample,aswellasinmedicaltreatments,bytheoilandgasindustry,andotherindustries.

ReadmoreNote(s):UnitedStates;2014to2018;*Estimated**Forecastbasedonacompoundannualgrowthrateof6.7percentbetween20220and2032.

ReadmoreSource(s):Fact.MRCHAPTER

08OtherindustrialgassesMarketvalueofacetyleneworldwidein2022and2027(inbillionU.S.dollars)Marketvalueofacetyleneworldwide2022-202716141213.9711.0610.18108642020222023*2027**35Description:Thisstatisticdisplaystheglobalmarketvalueofacetylenein2022and2023,withaforecastfigurefor2027.In2027,theglobalmarketvalueofacetyleneisforecasttoreachsome13.97billionU.S.dollars.

ReadmoreNote(s):Worldwide;2022;*Estimate**ForecastbasedonaCAGRofsixpercentbetween2023-2027.ReadmoreSource(s):BRCMarketvalueofkrypton-xenonworldwidein2021withaforecastfor2027(inmillionU.S.dollars)Globalkrypton-xenonmarketvalue2021-2017700587.056005004003002001000292.7820212027*36Description:Theglobalmarketforkrypton-xenon,anindustrialgasusedinvarioushigh-techapplications,wasworth587.05millionU.S.dollarsin2021.However,by2027,itisprojectedtodeclineto292.73millionU.S.dollars,showingasignificantdropofmorethan50percent.Thisisduetothechallengesandrestraintsfacedbythekrypton-xenonmarket,suchaslimitedavailability,highcost,environmentalimpact,andcompetitionfromalternativetechnologies.ReadmoreNote(s):Worldwide;2021;*Forecastbasedonacompoundannualgrowthrateof-10.95percent.ReadmoreSource(s):360ResearchReports3Dprintinggasesmarketrevenueworldwidein2020and2028(inmillionU.S.dollars)Global3Dprintinggasesmarketrevenue2020&202812010080111.736043.064020020202028*37Description:Thisstatisticshowsthemarketrevenueofindustrialgasesusedin3Dprintingworldwidein2020,aswellasaforecastedfigurefor2028.The3Dprintingprocessusesnitrogen,argon,andal