GCC INDUSTRIAL GASES MARKET ANALYSIS
The GCC industrial gases market is projected to reach around US$ 2,307.6 million by the end of 2030, in terms of revenue, growing at a CAGR of 7.8% during the forecast period (2023-2030).
GCC Industrial Gases Market: Market Trend
A significant trend in the market is projected to be the establishment of new facilities by several manufacturers in the area to increase the production of industrial gases in order to satisfy the expanding demand. For instance, In February 2020, the industrial gases business Air Products began construction on a new Air Products Quadra industrial gases hub "megaproject" in Jubail, Saudi Arabia.
GCC Industrial Gases Market: Market Opportunities
As a basic necessity for survival, the GCC region's expanding demand for packaged food and drinks is expected to open up new market possibilities. Over the course of the projected period, changes in food consumption patterns are also anticipated to boost the expansion of the regional market. A manufacturer may find growth prospects as a result of the introduction of cutting-edge technology for the production of industrial gases and the development of end-use applications, which will allow them to better service a sizable market in the area. It is anticipated that this would accelerate the expansion of GCC industrial gases Market
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