Reports Description
According to Custom Market Insights (CMI), The Global Industrial 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.
The plastic and rubber sector’s industrial gases are a sizable and dispersed market. Manufacturers, additive suppliers, concentrate producers, plastics and rubber processors, machinery manufacturers, mold makers, and recyclers are part of this sector.
The technical performance and functional characteristics of the world’s industrial gases for the plastic and rubber industry have caused the sector to witness a sluggish but steady expansion over the past several years. In recent years, the industrial gases used by the plastic and rubber industries have increased dramatically, and this growth is expected to continue.
Both plastic and rubber are made of polymers, except rubber has more elastic properties while plastic material is tougher and more rigid. The rubber is an elastomer that can be stretched and can further regain its normal position. The degree of elasticity of the rubber can vary and depends on the product type.
On the other hand, plastic is the tougher and more rigid material used to form multiple products, including boxes, polybags, bottles, etc., used daily. The additives are the most crucial factors for forming plastic and rubber products. Some of the additives include UV absorbers, coloring agents, stabilizers, etc.
Growth Factors
- The rapid development of economies coupled with the increase in demand for plastics and rubber substances drive the market growth
The rapid development in the economies plays a crucial role in the industrial market’s growth in plastics and rubber. Various industries widely use these two substances to produce such substances which have economic value and are preferred worldwide. Such factors drive the market growth for industrial gases.
- The frequent demand for plastics and rubber in various applications propels the market growth
The increase in various industries, including the food & beverage, healthcare, construction, electrical & electronics, automobiles, and manufacturing sectors, has led to the demand for rubber and plastics, which drives the growth of the industrial gases market for plastic and rubber.
- The rapid demand for plastics and rubber in the automotive industry propels the market growth for industrial gases for plastics and rubber.
Rubber and plastic substances are primarily used for the formation of vehicle tires. To solve the problems like improper inflation, wear-out situation, and unevenness, nitrogen gas is widely used to fill tires, which make it efficient. Hence, the increase in demand for plastic and rubber across the automobile industry will likely propel the demand for industrial gases.
- The rapid increase in urbanization, industrialization, and infrastructural activities has led to the huge demand for plastics and rubber, which drive the industrial gas growth
The rapid increase in urbanization and industrialization, along with the development of infrastructural activities, has led to the huge demand for plastic and rubber across various industries for multiple productions, which boosts the market growth for industrial gases widely used across such industries.
- The increased popularity of electric vehicles has led to a huge demand for industrial gases for plastics and rubber.
The emergence of electric vehicles in the global market across developed and developing regions will likely boost the market growth for industrial gases during the forecast period. As per the rise in concern regarding the usage of petrol and diesel, the popularity of electric vehicles is likely to rise in the upcoming future, propelling the demand for industrial gases and plastic, and rubber in the forecast period.
Industrial Gases for Plastic and Rubber Market Segmentation
The market is segmented based on gas type, process, application, and region.
- Market segmentation based on Type
Based on gas type, the industrial gas market of rubber and plastic is segmented among nitrogen, carbon monoxide, carbon dioxide, and others. As per the revenue, Inert gas held the biggest market share in the industrial gases for plastic and rubber market in 2020 and is anticipated to expand at a CAGR of 5.3% over the forecast period. Because of its inert qualities, nitrogen is useful both as a liquid and a gas for cooling and freezing.
Almost every industry can profit from its special qualities to increase yields, enhance performance, and make operations safer. In the chemical industry, nitrogen is crucial. A non-reactive environment can also be created using nitrogen gas. In addition to being utilized in the electronics sector to create transistors and diodes, it is also employed to preserve food. When annealing stainless steel and other steel mill products, significant amounts of nitrogen are used. A heat treatment called annealing makes working with steel easier. The industrial gases for the plastic and rubber market will be driven by the rising demand for inert gases in the plastic and rubber industries.
- Market segmentation based on Process
Based on the process, the market is segmented into injection molding, extrusion, foaming, and blow molding. Currently, industrial gases for plastic and rubber have been mostly used in injection molding, and this market is anticipated to develop at a CAGR of 4.4% during the forecast period. With injection molding, plastic materials heated to a molten state are injected into a mold before being cooled and solidified.
The technique plays a significant role in plastic processing and is suited for mass manufacturing goods with complex shapes. The clamping unit’s duties include product ejection, die opening, and closing. Moisture and oxygen during the injection molding process might result in problems with the end product, such as flaws and imperfections.
- Market segmentation based on Application
Based on an application, the market is bifurcated into the plastic and rubber industry. The plastic industry held the largest market share in 2021 and is expected to dominate the market during the forecast period. It is anticipated that the rapid usage of plastic in the construction, automotive, and electrical & electronics industries is likely to boost market expansion over the coming years.
Plastic is increasingly being used as a substitute for metals, such as aluminum and steel, in the production of automobile components in response to regulations aiming to lower gross vehicle weight to increase fuel efficiency and eventually reduce carbon emissions. The rapid use of plastics for constructing pipes, boxes, toys, etc., has led to a huge demand for industrial gases.
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 fulfill your requirements for research. |
Key Insights
- Asia-Pacific has dominated the industrial gases for plastic and rubber market in 2021 and is likely to maintain its position during the forecast period.
- The increased demand for inert gases across the plastic and rubber industry drives the market growth for the inert gas segment worldwide.
- The continual increase in demand, the production of plastic-based products, and the use of plastic materials in various industries have led to the growth of this segment.
- By process injection molding is the most prominent process for producing plastic materials. It is expected to grow over the forecast period with a CAGR of 4.4%.
Regional Insights
Based on region, the market is distributed across North America, Asia-Pacific, Europe, and LAMEA. In 2021, APAC dominated the market for industrial gases for plastic and rubber, and it is predicted that during the forecast period, it will expand at a CAGR of 5.9%. This can be attributed to the emergence of larger economies and the rise in demand across countries like China and India that dominate the regional market for industrial gases, which are widely used in plastic and rubber products.
The market for industrial gas is likely to expand along with the automotive development industry because nitrogen is the most popular gas utilized in tires of different automobiles for improved performance. According to the OICA’s (International Organization of Motor Vehicle Manufacturers) 2019 production data, China is the world’s top auto producer. On the other hand, India is the fifth-largest producer of automobiles; these factors altogether drive the market growth for industrial gases for plastic and rubber across Asia-Pacific regions.
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
Covid-19 Impact
The sudden emergence of the pandemic has severely impacted several industries across the globe, due to which the industrial gases market for plastic and rubber was also among the markets that faced disturbances during the pandemic period. The rapid decline in the demand for plastics across various end-user industries, including the cosmetics industry, food, and beverage, automobiles, etc., has led to the decline in the market. Apart from that, the demand for natural rubber, usually used for the formation of tires, suddenly declined during the pandemic, which temporarily halted the market growth for industrial gases and the production of plastic and rubber products.
Recent Developments
- In March 2019, Airgas, which is an Air Liquide company, announced the completion of its acquisition of TA Corporate Holdings, Inc, which is an independent distributor of gases and welding supplies across different regions in the US.
- In March 2019, Messer, an industrial gases specialist, announced the acquisition of the majority of Linde AG’s business across North America and acquired the Linde and Praxair business in South America.
Market segments covered in the report
By Type
- Carbon dioxide
- Carbon monoxide
- Nitrogen
- Others
By Process
- Injection molding
- Extrusion
- Foaming
- Blow molding
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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