South Korea Industrial Gases Market Size & Outlook
South Korea industrial gases market, 2018-2030 (US$M)
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South Korea industrial gases market highlights
- The South Korea industrial gases market generated a revenue of USD 5,090.4 million in 2023 and is expected to reach USD 9,061.0 million by 2030.
- The South Korea market is expected to grow at a CAGR of 8.6% from 2024 to 2030.
- In terms of segment, oxygen was the largest revenue generating product in 2023.
- Nitrogen is the most lucrative product segment registering the fastest growth during the forecast period.
Industrial gases market data book summary
| Market revenue in 2023 | USD 5,090.4 million |
| Market revenue in 2030 | USD 9,061.0 million |
| Growth rate | 8.6% (CAGR from 2023 to 2030) |
| Largest segment | Oxygen |
| Fastest growing segment | Nitrogen |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Oxygen, Nitrogen, Hydrogen, Carbon Dioxide, Acetylene, Argon, Other Products |
| Key market players worldwide | Air Liquide SA, Air Products & Chemicals Inc, Iwatani Corp, Linde PLC, StealthGas Inc, Nippon Sanso Holdings Corp |
Other key industry trends
- In terms of revenue, South Korea accounted for 4.8% of the global industrial gases market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China industrial gases market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 31,811.1 million by 2030.
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Industrial Gases Market Scope
Industrial Gases Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea industrial gases market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to industrial gases market will help companies and investors design strategic landscapes.
Oxygen was the largest segment with a revenue share of 32.14% in 2023. Horizon Databook has segmented the South Korea industrial gases market based on oxygen, nitrogen, hydrogen, carbon dioxide, acetylene, argon, other products covering the revenue growth of each sub-segment from 2018 to 2030.
Healthcare is the fastest growing application segment in the South Korean industrial gases market, followed by manufacturing. South Korea’s medical industry is driven by the rising aging population that has led to increased demand for healthcare-related technologies.
Carbon dioxide plays a major role in sterilizing medical equipment, in stimulating respiration and in medical surgeries. The growing use of carbon dioxide in the healthcare industry is anticipated to thereby propel the market growth over the forecast period.
The country witnessed a surge of 20% in the beer consumption in 2014 in comparison to 2012. According to BCCK, in 2016, Korea was the 14th largest beer consumer in the world and the Korean beer market was valued at USD 3.9 billion.
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Target buyers of South Korea industrial gases market databook
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Our clientele includes a mix of industrial gases market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the South Korea industrial gases market , including forecasts for subscribers. This country databook contains high-level insights into South Korea industrial gases market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea industrial gases market size, by product, 2018-2030 (US$M)
South Korea Industrial Gases Market Outlook Share, 2023 & 2030 (US$M)
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