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Is the industrial gases industry finally taking off?
Apr 24: Air Products has announced that its joint venture in India – INOX Air Products Ltd – is to build six new air separation units (ASUs) in the country under a $100m investment to serve the growing onsite and merchant liquid industrial gases market.
8Is this the moment that we will look back upon and say that’s when India’s budding industrial gases industry really began to take off?
8The Indian industrial gas sector has an unusually large onsite business for a developing country, for example.
8In particular, there are a large number of steel clients that have been ‘weaned’ off captive owned and operated supply solutions in the last decade.
8Yet the captive market is still significant in India, with an estimated captive supply arena of almost 40% of the country’s gases business – potential that if converted to onsite supply could over time, represent as much as $800m in revenues.
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