Industrial Gases Procurement Intelligence Report, 2023 – 2030

Industrial Gases
May 8, 2024 ( PR Submission Site )

In this Industrial Gases procurement intelligence report, we have estimated the pricing of the key cost components as feedstock (natural gas), energy, labor, logistics, storage, equipment, depreciation, taxes & profits, and other expenses. The average price of natural gas in the United States was approximately USD 6.4 per million British thermal units in the year 2022, whereas in Europe it was USD 40.3 per million British thermal units. The conflict between Russia and Ukraine and the lack of energy supplies that started in 2021 have caused a sharp increase in prices.

Given that the United States generates more natural gas than Europe does, prices in Europe are predicted to continue to be higher than in the United States. The United States has benefited greatly from the application of horizontal drilling and hydraulic fracturing technologies to extract previously unheard-of levels of gas from tar sands and shale formations. This has made it possible to produce enormous amounts of natural gas. By 2050, it is anticipated that the United States would produce 33.67 trillion cubic feet of shale gas.

Future pricing for the category will be lower as a result of this mass production. Order your copy of the Industrial Gases category procurement intelligence report 2023-2030, published by Grand View Research, to get more details regarding day one, quick wins, portfolio analysis, key negotiation strategies of key suppliers, and low-cost/best-cost sourcing analysis

Operational Capabilities – Industrial Gases

  • Industries served – 35%
  • Revenue Generated – 18%
  • Employee Strength – 15%
  • Certifications – 12%
  • Years in Service – 12%
  • Geographical Service Provision – 8%

Functional Capabilities – Industrial Gases

  • Production Capacity – 50%

Types of Gases

  • CO2 – 10%
  • Nitrogen – 10%
  • Hydrogen – 10%
  • Oxygen – 10%
  • Others – 10%

Rate Benchmarking

In China, prices of liquid nitrogen and oxygen decreased in March 2023 due to market demand, whereas liquid argon costs increased significantly. April 2023 saw a 1% year-over-year decline in retail gas prices and a 4% quarterly decrease.

In addition, for the same month, the unit price of liquid oxygen was CNY 460/ton, decreasing by 10% month over month; the unit price of liquid nitrogen was CNY 499/ton, decreasing by 3% month over month; and the unit price of liquid argon was 1,201 Yuan/ton, increasing by 1% month over month.


The global industrial gases category is anticipated to grow at a CAGR of 7.42% from 2023 to 2030.

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