Zusammenfassung in einem Satz – The global industrial gas market has experienced significant growth due to factors such as the conflict in Ukraine, decarbonization efforts, and the need for diversification in Europe, leading to shortages in CO2 supply and an increase in the Carbon Capture, Utilization, and Storage (CCUS) market.
Auf einen Blick
- The global industrial gas market has seen a year-on-year growth of 12.6% and is valued at $96 billion in 2022.
- The conflict in Ukraine has resulted in a spike in natural gas prices and disruptions in gas transportation from Russia to Europe.
- European countries are actively exploring diversification strategies to reduce their dependence on Russian gas.
- The Carbon Capture, Utilization, and Storage (CCUS) market is projected to reach $14.2 billion by 2030.
- The industry is shifting towards decarbonization and diversification, with a growing interest in hydrogen projects and challenges faced by the food and beverage industries due to CO2 shortages.
Die Details
The global industrial gas market, valued at $96 billion in 2022, has seen a year-on-year growth of 12.6%.
The conflict in Ukraine and the ongoing decarbonization efforts have played significant roles in shaping the industry landscape.
The conflict in Ukraine resulted in a spike in natural gas prices and disruptions in gas transportation from Russia to Europe.
European countries, affected by the conflict, are actively exploring diversification strategies to reduce their dependence on Russian gas.
Industries such as crude oil, wheat, and specialized gases (e.g., neon) were impacted by the conflict.
The CO2 supply was severely affected by the conflict, leading to concerns about a Europe-wide food supply crisis.
Rising natural gas prices forced the shutdown of ammonia plants in Europe, causing a shortage of CO2.
As a result, industries sought alternative sources of CO2, including biogenic ones, which showed promising growth trajectories.
These CO2 shortages in Europe led to increased prices and a growing interest in diversification through alternative sources.
The Carbon Capture, Utilization, and Storage (CCUS) market is projected to reach $14.2 billion by 2030.
The interest in diversification and sustainability has spurred growth in the CCUS market.
The UK government pledged £20 billion to CCS projects and aims to capture 20-30 million tonnes of CO2 by 2030.
The European Commission proposed the Net Zero Industry Act, aimed at accelerating decarbonization solutions, including CCS.
The conflict in Ukraine, coupled with the global decarbonization drive, has impacted the industrial gases sector.
Advances in digitization and semiconductor supply chain demand also played a significant role.
Eastern Europe is expected to witness a market decline in 2023 due to the ongoing conflict in Ukraine.
The energy transition has led to an uptick in hydrogen-related projects worldwide.
Carbon-intensive plants decommissioning contributed to CO2 shortages in the food and beverage industries.
This comprehensive brief covers the major factors influencing the global industrial gases business in 2022.
It highlights the impact of the conflict in Ukraine, the CO2 supply crisis, the growing CCUS market, and the industry’s shift towards decarbonization and diversification.
Additionally, it acknowledges the rise of hydrogen projects and the challenges faced by the food and beverage industries due to CO2 shortages.
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| – The Ukraine war and decarbonisation drive were the two biggest factors shaping the global industrial gases business in 2022 – Advances in digitisation and semiconductor supply chain demand were also key factors – The global industrial gas market was valued at $96bn in 2022, with YoY growth of 12.6% – The conflict in Ukraine caused a spike in natural gas prices and disruptions in gas transportation from Russia to Europe – European countries have been exploring diversification strategies to reduce dependence on Russian gas – The conflict in Ukraine has impacted industries such as crude oil, wheat, and specialised gases like neon – Eastern Europe is expected to see a market decline in 2023 due to the conflict in Ukraine – CO2 supply was affected by the conflict, leading to fears of a Europe-wide food supply crisis – Rising natural gas prices led to the shutdown of ammonia plants in Europe, causing a shortage of CO2 – Industry sought alternative sources of CO2, including biogenic ones, which showed promising growth trajectories – CO2 shortages in Europe led to increased prices and interest in diversification through alternative sources – The growing carbon capture, utilisation, and storage (CCUS) market is projected to reach $14.2bn by 2030 – The interest in diversification and sustainability has tapped into the CCUS market – The UK government pledged £20bn to CCS projects and aims to capture 20-30 million tonnes of CO2 by 2030 – The European Commission proposed the Net Zero Industry Act to accelerate decarbonisation solutions, including CCS – There is an uptick in hydrogen-related projects worldwide as part of the energy transition – The decommissioning of carbon-intensive plants has led to CO2 shortages in the food and beverage industries. |
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